Intelligent Insurer News

Extratropical Cyclone Burglind, also known as Eleanor, which hit the UK and Europe in January 2018, will cost insurers some €756 million, according to insurance data company PERILS’ final loss estimate.

Reinsurance placements at 1 January 2019 highlight a pricing gap between accounts with peak peril exposures or poor loss records and the rest, with many reinsurers placing emphasis on the quality of client counterparties, according to the latest 1st View renewals report from Willis Re.

Business insurance specialist QBE European Operations has implemented its post-Brexit plans, following its Part VII transfers coming into effect on January 1, 2019.

Generali Group has completed its plan to increase its stakes in Future Generali insurance joint ventures in India to 49 percent from 25.5 percent.

Arch Insurance Europe has finalised its acquisition of the UK commercial lines business owned by The Ardonagh Group and part of its Geo Underwriting operating segment.

State-owned reinsurance group China Re has completed its 100 percent equity acquisition of Hanover Insurance international Holdings - the holding company of Chaucer Holdings - from The Hanover Insurance Group.

JLT Re's global property-catastrophe reinsurance index fell 1.2 percent at the January 1 renewals, despite 2018 being one of the costliest years in terms of catastrophe losses.

Enstar Group has announced that one of its wholly-owned subsidiaries completed a previously announced transaction to acquire Maiden Reinsurance North America from a subsidiary of Maiden Holdings.