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Updated: 2 hours 36 min ago

Rates force Beazley to shrink reinsurance unit in first nine months

9 November, 2017 - 09:35
Beazley enjoyed strong growth overall in the first nine months of 2017 but its reinsurance division shrank as the company reduced it because of continued rate decreases – a trend it expects to reverse on cat business, at least, because of the recent heavy losses in North America.

Munich Re posts €1.4bn loss for Q3

9 November, 2017 - 07:57
Munich Re incurred a net loss of €1.4 billion in the third quarter of 2017 due to the impact of natural catastrophes in North America but expects “significant” market recovery.

Hannover Re expects €800m profit in 2017 despite nat cat losses: CFO

8 November, 2017 - 15:49
Hannover Re expects a net profit of €800 million for the full year of 2017 after the reinsurer sells off its listed equity portfolio, despite nat cat losses exceeding its large loss budget.

Chubb appoints head of global services, complex multinational UK and Ireland

8 November, 2017 - 15:34
Insurer Chubb has appointed Barry Beard as head of global services and complex multinational UK and Ireland (UK&I).

MAI CEE names group employee benefits leader

8 November, 2017 - 15:33
MAI CEE, an independent insurance broker in Central and Eastern Europe, has appointed Ewelina Jaworska as group employee benefits leader.

AIG reveals new NA General Insurance and Lexington CEOs

8 November, 2017 - 10:14
American International Group (AIG) has appointed Lex Baugh as CEO of North America General Insurance.

Zurich offloads German legacy medical malpractice book to Catalina

8 November, 2017 - 10:14
Switzerland-based Zurich Insurance Group has entered into a definitive agreement with Catalina Insurance Ireland to transfer its German legacy medical malpractice liabilities portfolio.

PartnerRe hires The Hartford chief insurance risk officer

8 November, 2017 - 10:13
Bermuda-based PartnerRe has appointed Turab Hussain to the position of chief risk and actuarial officer.

The Hanover appoints new president of agency market division

8 November, 2017 - 10:13
The Hanover Insurance Group has appointed Richard Lavey as president of Hanover Agency Markets, succeeding John Roche, who was recently named president and CEO of The Hanover.

Aon appoints CEO of US construction services group

8 November, 2017 - 10:12
Aon has named Jim Gloriod as CEO of its US Construction Services Group, responsible for the construction, power and the environmental practices.

UK regulator launches broker inquiry

8 November, 2017 - 09:37
The Financial Conduct Authority (FCA) has launched a market study to assess how competition is working in the wholesale insurance broker sector in the UK.

Starr ends syndicate underwriting in Singapore, grows via local unit

8 November, 2017 - 09:37
Insurance and investment firm Starr Companies which is headed by Maurice Greenberg, has discontinued underwriting new business through the Starr Singapore Underwriting Agents representing its Lloyds Syndicate 1919.

Hannover Re avoids Q3 loss through asset sale

8 November, 2017 - 07:57
Hannover Re has posted a profit for the third quarter despite large losses exceeding its budget in the third quarter of 2017 through an increase in investment income driven by the sale of its listed equity portfolio.

'Conservative' German insurance market ready for disruption

7 November, 2017 - 17:18
The German insurance industry has yet to catch up with digitisation and may face sudden disruption if a big player takes an innovative approach to the market.

RGA partners with fintech company Bitspark

7 November, 2017 - 11:06
Bitspark, a fintech company in Hong Kong developing money exchange technology and placement in the blockchain industry, has secured funding from RGAx, the innovation accelerator of Reinsurance Group of America.

Hiscox starts to reap rewards of a hard market

7 November, 2017 - 10:57
Hiscox enjoyed strong growth in most parts of its portfolio in the first nine months of the year as it noted hardening rates – reaching up to 50 percent in loss-affected US property business – boosted the business.

ACR confirms that sale will not proceed

7 November, 2017 - 10:51
As revealed by Intelligent Insurer on November 1, ACR Capital Holdings has officially confirmed that its acquisition by Shenzhen Qianhai Financial Holdings and Shenzhen Investment Holdings will not proceed.

AmTrust sells majority stake in US-based fee businesses

7 November, 2017 - 10:40
AmTrust Financial Services has agreed to sell a 51 percent equity interest in certain parts of its US-based fee businesses to Madison Dearborn Partners, a private equity firm in a deal that values the business at $1.15 billion, plus up to an additional $50 million upon exit, subject to agreed thresholds.

AmTrust Financial takes another big reserve charge in the third quarter

7 November, 2017 - 10:32
AmTrust Financial Services has posted a prior year adverse reserve development of $326.9 million on a pre-tax basis for the third quarter ended September 30, 2017.

US tax reform to lift P&C insurance earnings 14%: Morgan Stanley

6 November, 2017 - 16:59
The proposed House bill calls for 20 percent corporate tax rate, which could lift earnings of US property/casualty (P&C companies) by around 14 percent on average, according to Morgan Stanley analysts.

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