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Covéa rejects SCOR's claims as "groundless" and "manipulative"

31 January, 2019 - 11:35
French mutual insurance company Covéa has rejected all the accusations leveled by reinsurance firm SCOR as "groundless" and a "strategy to manipulate the judicial process", and reiterated its support for its chief executive Thierry Derez and his actions.

Aon's broking chief Fitzgerald quits to start 'new chapter' after 27 years

31 January, 2019 - 11:34
Tom Fitzgerald, the chief executive of Aon Broking, is leaving the company after 27 years of service to start the "next chapter" in his career.

AXIS Capital 2018 results improve but Benchimol disappointed in Q4

31 January, 2019 - 10:56
AXIS Capital posted a small profit in 2018 but company president and CEO Albert Benchimol admitted that results in the fourth quarter specifically were “unsatisfactory” as they were hit hard by property and catastrophe losses.

Chubb appoints new claims director for Europe and Eurasia & Africa

31 January, 2019 - 10:50
Property/casualty insurer Chubb has appointed Julie Chalmers as claims director for Europe and Eurasia & Africa, replacing Steve Parry, who is leaving the company.

FEMA renews $1.32bn NFIP reinsurance programme for 2019 with 28 carriers

31 January, 2019 - 10:31
The Federal Emergency Management Agency (FEMA) has reduced the size of its annual reinsurance placement which provides coverage for the National Flood Insurance Program (NFIP).

Sompo-owned Blue Capital posts more heavy losses in 2018 on back of Q4 cats

31 January, 2019 - 10:21
Efforts by Sompo-owned Blue Capital Reinsurance Holdings to reduce volatility and improve the balance of its portfolio were scuppered by more heavy catastrophe losses in 2018 and further loss creep from events in 2017 as it posted another set of heavy losses.

Arch Capital-backed reinsurer Watford Re mulls Nasdaq IPO

30 January, 2019 - 15:37
The parent company of Bermuda-based Watford Re, a reinsurance sidecar launched by Arch Capital and Highbridge Capital, has filed for an initial public offering (IPO) on the Nasdaq.

Travelers gains approval for Brexit subsidiary in Dublin; names CEO

30 January, 2019 - 15:28
Property/casualty insurer Travelers Europe has set up a new subsidiary in the Republic of Ireland in response to Brexit, which will be led by James Liston as CEO.

Lloyd's CEO Neal plots next move for LM TOM as he takes helm

30 January, 2019 - 15:21
The London Market Group (LMG) has appointed Lloyd’s CEO John Neal to chairman of London Market Target Operating Model (LM TOM) steering board, replacing Inga Beale, who had chaired the group since it was set up in 2016.

Global cyber attacks underinsured to tune of $166bn, finds report

30 January, 2019 - 15:09
A severe global ransomware attack could cost as much as $193bn and affect more than 600,000 businesses worldwide, yet only 14 percent of this cost is insured, research has revealed.

PG&E files for bankruptcy as wildfires liability looms

30 January, 2019 - 11:14
Pacific Gas & Electric Corporation and its operational subsidiary PG&E Company, the company accused of starting several of California’s record-breaking wildfires in 2017 and 2018, has filed for Chapter 11 bankruptcy protection.

QBE merges Lloyd’s Asia platform QIMS under Singapore operations

30 January, 2019 - 10:55
Re/insurer QBE is in the process of realigning its business operations to take a more customer-centric approach. Its latest move has resulted in the merger of its regional specialty portfolios in Asia.

O’Donnell takes positives as RenRe posts strong growth in 2018 but profits dip

30 January, 2019 - 10:55
RenaissanceRe’s gross written premiums jumped by nearly 20 percent in 2018 – but its profits dipped mainly on the back of high levels of claims from the record-breaking wildfires in California for a second consecutive year.

Swiss Re unveils new capital markets unit in Brexit move

30 January, 2019 - 10:52
Swiss Re has formed a new capital markets unit in Luxembourg and applied for authorisation to trade with EEA based clients to ensure trading continuity post-Brexit.

RFIB appoints ex-Aon as reinsurance CEO to ramp up growth plans in Asia

30 January, 2019 - 10:52
Lloyd's re/insurance broker RFIB Group has appointed Stephen Warwick as CEO reinsurance, Asia Pacific, following a strategic review of the region.

AXIS Re taps Gen Re's Arbuckle as new underwriting head for Canada

30 January, 2019 - 10:52
Bermuda-based AXIS Capital Holdings has hired a senior executive from Gen Re to expand AXIS Re’s Canadian market business and establish new partnerships in the region.

Lloyd's appoints former US Senator John Sununu to council

30 January, 2019 - 10:52
Specialist insurance and reinsurance market Lloyd's has appointed former United States Senator John Sununu as a new member of its Council for a three-year term, beginning Feb 6, 2019.

Chinese insurers likely to ignore investment advice from regulator CBIRC: Fitch

30 January, 2019 - 10:46
Chinese insurers are unlikely to dramatically alter their investment strategies or modify their asset allocations despite recent encouragement from the China Banking and Insurance Regulatory Commission (CBIRC) to invest their long-term funds in high-quality listed stocks and bonds, long-term equity investments, and securities brokerage firms' asset management plans and trust products, according to Fitch Ratings.

WR Berkley posts positive 2018 results but shrinks reinsurance unit

30 January, 2019 - 10:39
WR Berkley posted positive results for 2018 despite what it called a period of elevated worldwide catastrophes, but it shrank its reinsurance unit stressing that it will “grow where it can achieve its targeted return, while de-emphasizing less attractive opportunities”.

AXA XL partners with Guidewire on cyber risk modelling

29 January, 2019 - 15:27
Re/insurer AXA XL has collaborated with property/casualty platform provider Guidewire Software on risk modelling solution to help quantify the financial impact of cyber risk exposures.


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