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China takes control of Anbang Insurance, chairman prosecuted: Reuters

Intelligent Insurer News - 8 hours 1 sec ago
The Chinese government seized control of Anbang Insurance Group and said its chairman had been prosecuted, according to a Reuters Feb. 23 report.

Standard Life Aberdeen sells £3.24bn insurance business to Phoenix

Intelligent Insurer News - 8 hours 4 min ago
Standard Life Aberdeen is selling its insurance business to UK-based insurance services provider Phoenix Group for a total consideration of £3.24 billion.

Allianz attempts to 'squeeze-out and delist' Euler Hermes

Intelligent Insurer News - 13 hours 21 min ago
German insurer Allianz is launching a further tender offer for the remaining 5 percent of Euler Hermes shares held by minority shareholders that would result in a squeeze-out procedure and delisting of the trade credit insurer's shares from the Euronext Paris stock exchange.

Enstar enters $275m reinsurance agreement with Zurich

Intelligent Insurer News - 13 hours 26 min ago
Bermuda-based Enstar Group has signed an agreement with an Australian subsidiary of Zurich Insurance Group to reinsure its New South Wales Motor Vehicle Compulsory Third Party (CTP) insurance business.

Federated National buys Monarch Delaware, stake from TransRe

Intelligent Insurer News - 13 hours 26 min ago
Federated National Holding Company (FNHC) has acquired the interests in Monarch Delaware Holdings (MDH) held by its joint venture partners and the repayment of debt, according to a Feb. 22 press release.

AXA sells non-life Azerbaijan operations

Intelligent Insurer News - 13 hours 26 min ago
French insurer AXA has entered into an agreement to sell all of its insurance operations in Azerbaijan, according to a Feb. 21 press release.

Willis Towers Watson makes key hires to lead Hong Kong businesses

Intelligent Insurer News - 13 hours 26 min ago
Willis Towers Watson has appointed Roger Steel as managing director for Hong Kong and Macau, along with two other key hires for its Corporate Risk & Broking and Talent & Rewards businesses in Hong Kong.

Swiss Re reports loss in P&C, corporate solutions for 2017

Intelligent Insurer News - 15 hours 40 sec ago
Swiss Re has posted a loss in property/casualty reinsurance and corporate solutions, with life & health helping to prevent a group loss in 2017.

LMA CEO Gittings puts claims modernisation on top of 2018 agenda

Intelligent Insurer News - 22 February, 2018 - 15:57
David Gittings, CEO of the Lloyd’s Market Association (LMA) told chief executives from across the Lloyd’s managing agency community that claims modernisation is a top priority for the organisation in 2018.

RSA 2017 profit jumps despite London Market loss

Intelligent Insurer News - 22 February, 2018 - 15:57
UK insurer RSA has posted a jump in net profit in 2017 despite underwriting losses in the London Market.

Insurtech Gabi raises $9.5m for US expansion

Intelligent Insurer News - 22 February, 2018 - 15:23
Gabi, which provides a free, online "personal insurance shopper," has raised $9.5 million in Series A funding, led by Canvas Ventures, to accelerate its nationwide expansion in the US in 2018.

AXA posts record 2017 profit, growth driven by health

Intelligent Insurer News - 22 February, 2018 - 14:46
French insurer AXA has posted a record net profit for 2017 as the health business boosts growth.

PartnerRe losses from HIM, California wildfires at $569m

Intelligent Insurer News - 22 February, 2018 - 10:30
Bermuda-based Partner Re has reported aggregate losses from hurricanes Harvey, Irma and Maria (HIM) and the California wildfires at $569 million, net of retrocession and reinstatement premiums.

SCOR profits halve in 2017 while business expands

Intelligent Insurer News - 22 February, 2018 - 10:06
French reinsurer SCOR has seen its net profit halve in 2017 compared to 2016 as it absorbs significant nat cat losses while at the same time expanding the business.

Greenlight Re considers Lloyd’s syndicate as it targets specialty lines

Intelligent Insurer News - 22 February, 2018 - 10:02
Greenlight Re is considering setting up a Lloyd’s syndicate as a strategic option as the Cayman Islands-based re/insurer targets specialty lines.

TransRe shrinks business to protect underwriting quality

Intelligent Insurer News - 22 February, 2018 - 10:01
Alleghany Corporation’s TransRe is shrinking its business despite rate improvements in the property/casualty (P&C) market to protect underwriting quality.

Ryan Specialty acquires US specialty intermediary

Intelligent Insurer News - 22 February, 2018 - 09:15
Ryan Specialty Group (RSG) has reached a definitive agreement to acquire the assets and operations of New Jersey-based specialty intermediary New Day Underwriting Managers.

What’s hidden behind AIG’s $6.1bn 2017 loss

Intelligent Insurer News - 21 February, 2018 - 16:50
American International Group (AIG) has been loss-making for the last two years, but the reported 2017 net loss of $6.08 billion hides improvements on the operating side as a more in-depth look into the numbers reveals and CEO Brian Duperreault is working on getting the insurance giant back on a growth path. A changed reinsurance cover structure is also part of the plan.

Hiscox exits aviation hull and liability

Intelligent Insurer News - 21 February, 2018 - 15:48
Specialist insurer Hiscox is withdrawing from aviation hull and liability underwriting due to market conditions pressuring rates.

Everest expands financial lines with swathe of hires and new unit

Intelligent Insurer News - 21 February, 2018 - 15:48
Bermuda-based Everest Re Group has expanded the financial lines division of Everest Specialty Underwriters (ESU) with a private company/not-for-profit (PC/NFP) unit and multiple key hires, the re/insurer said in a Feb. 20 press release.


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