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Updated: 2 hours 56 min ago

Generali sells another LatAm unit as it seeks transformation into a ‘simpler company’

8 August, 2017 - 09:50
Generali Group is to sell its business in Panama to ASSA Compañía de Seguros, an insurance player in the region, for $172 million, subject to adjustment on closure.

Risk of flood high in Japan in wake of Typhoon Noru

8 August, 2017 - 09:33
Even with modern flood-control structures, the risk of flood damage remains high in Japan in the aftermath of Typhoon Noru, which made its first landfall in Yakushima, an island in Kagoshima Prefecture, Japan, as a Category 1-equivalent storm, before making a second landfall near Kainan City in Wakayama Prefecture, Japan, according to catastrophe modelling firm AIR Worldwide.

Unfulfilled promises means time of reckoning for hedge fund reinsurers: S&P

8 August, 2017 - 09:12
A time of reckoning will come very soon for many reinsurers backed by hedge funds as many remain unprofitable and with many promises unfulfilled, according to a new report by S&P Global Ratings.

India's GIC Re files for potential $1bn IPO

7 August, 2017 - 14:44
State-owned reinsurer General Insurance Corp of India (GIC Re) on Aug. 7 filed for an initial public offering (IPO) to be listed on the Bombay Stock Exchange and the National Stock Exchange of India.

Former Sompo CEO joins UK insurtech REG

7 August, 2017 - 14:22
Former Sompo Canopius CEO Stuart Davies has joined the board of UK insurtech platform REG as a non-executive director.

Allied World CFO and chief actuary depart post Fairfax merger

7 August, 2017 - 13:06
Thomas Bradley, the chief financial officer (CFO) of Allied World Assurance Company Holdings, has left the company following its $4.9 billion acquisition by Canadian P&C re/insurer Fairfax Financial Holdings.

Insurance Europe warns over protectionism in Indonesia, Turkey, Argentina

7 August, 2017 - 12:58
European re/insurance federation Insurance Europe warns over a range of protectionist measures in Indonesia, Turkey and Argentina.

CEO of Towergate owner Ardonagh mulls over IPO

7 August, 2017 - 10:46
The new UK insurance group The Ardonagh Group which combines Towergate, Autonet, Chase Templeton, Ryan Direct and Price Forbes may be sold or listed on the stock exchange, the CEO reportedly told The Telegraph in an Aug. 6 report.

Markel hires political risk underwriter from Sompo Canopius

7 August, 2017 - 10:44
Specialist insurer Markel International has appointed Alex Holcroft as political risk underwriter in Singapore.

Lloyd's syndicate Blenheim enters specialty reinsurance with Talbot hire

7 August, 2017 - 10:26
Blenheim, managed by Asta, has appointed John Cutts to develop a specialty reinsurance division within its Syndicate 5886 at Lloyd's.

Travelers completes $490m M&A deal with UK insurtech Simply Business

7 August, 2017 - 10:23
US property/casualty insurer Travelers has completed the acquisition of UK-based small and medium-sized enterprise (SME) insurance broker Simply Business.

US Mutual Reinsurance Bureau CEO to retire; successor search begins

7 August, 2017 - 10:17
US-based Mutual Reinsurance Bureau (MRB) has launched the search for a successor to its current CEO Timothy Dorr, who has announced his plans to retire from the Illinois-based joint reinsurance association.

Mexico buys ILS coverage for first time since 2012

7 August, 2017 - 10:04
Mexico’s Fund for Natural Disasters (FONDEN) has returned to the insurance-linked securities (ILS) markets to secure coverage against natural catastrophes for the first time since 2012.

Berkshire posts underwriting loss as AIG deal weighs on results

7 August, 2017 - 09:45
Berkshire Hathaway has registered an underwriting loss for its insurance operations as the retroactive reinsurance agreement with AIG weighs on results.

Swiss Re CEO seeks life deals as P&C remains unattractive

4 August, 2017 - 13:30
Swiss Re is seeking opportunities to grow its life reinsurance business as it shrinks its property/casualty operations, waiting for the soft market to ease.

TransRe-Gen Re deal an ‘unqualified success’, says CEO of parent Alleghany

4 August, 2017 - 11:10
The partnership between TransRe and Gen Re that will see the former help the latter access the broker markets in the US has been an “unqualified success” the CEO of TransRe’s parent company has stated in relation to the reinsurer’s second quarter results.

Allianz and Liverpool Victoria partner to form UK’s third biggest personal lines insurer

4 August, 2017 - 11:09
Allianz Group and Liverpool Victoria Friendly Society (LV=) will launch a joint venture that will create the third biggest personal lines insurer in the UK thanks to a deal that values LV=’s general insurance at more than £1 billion.

Profits soar but cancellations and rate pressures hit Q2 premiums at TransRe

4 August, 2017 - 11:07
Net written premiums dipped at TransRe in the second quarter of 2017 because of cancellations, non-renewals, the impact of rate pressures and increased retentions by cedants. But the reinsurer’s profits soared and the CEO of its parent company Alleghany Corporation praised its disciplined approach.

P&C dents Swiss Re H1 results

4 August, 2017 - 11:00
Swiss Re’s first half 2017 results have been impacted by lower income from the property/casualty reinsurance division as the reinsurer curbs premium and is hit by Cyclone Debbie.

Investment returns mask poor combined ratio at Liberty Mutual in Q2

4 August, 2017 - 10:48
Liberty Mutual enjoyed strong growth and a big increase in profits in the second quarter boosted by its acquisition of Ironshore and better investment returns. But these masked an underlying deterioration in its underwriting performance.


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