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Fitch downgrades Cigna on $24bn debt raise for Express Scripts acquisition

5 September, 2018 - 10:41
Fitch Ratings has downgraded the Insurer Financial Strength (IFS) ratings of US health insurer Cigna Corporation’s operating subsidiaries to 'A' (Strong) from 'A+'.

Capsicum Re ties up with AIR Worldwide for silent cyber modelling

4 September, 2018 - 14:03
Catastrophe modelling firm AIR Worldwide and reinsurance broker Capsicum Re are collaborating in the development of silent cyber modelling capabilities.

US MGA market growth beats P&C insurance sector

4 September, 2018 - 13:53
The managing general agent (MGA) and programme markets in the US have continued to outpace the growth of the rest of the property-casualty market in 2017, according to a new study by investment firm Conning.

Africa Re underwriting loss grows in H1

4 September, 2018 - 13:38
Africa Re has increased the underwriting loss to $24.1 million in the first half of 2018 from $18.8 million in the same period of 2017.

Reinsurance sector outlook lifted by Fitch

4 September, 2018 - 13:36
Fitch Ratings has revised its outlook for the global reinsurance sector to stable from negative, on the belief that earnings have settled at a "new normal".

SCOR rejects takeover offer by Covéa

4 September, 2018 - 11:16
French mutual insurance company Covéa proposed to acquire a majority stake in SCOR but the proposal was met with unanimous opposition from SCOR's executive committee.

Reinsurers barely cover capital costs

4 September, 2018 - 11:16
Global reinsurers’ returns are expected to barely cover capital costs through in 2018 and 2019 and the current stable outlook on the global property/casualty reinsurance sector would likely change to negative if the industry's profitability sustainably fell below its cost of capital, S&P Global Ratings warned in a report.

Sompo International unveils new unit in Luxembourg

4 September, 2018 - 09:39
Bermuda specialty re/insurer Sompo International Holdings has unveiled a new subsidiary in Luxembourg, which will cover business written in Continental Europe and have branches in Belgium, France, Germany, Italy, Spain and the UK.

Munich Re embraces Internet of Things with acquisition of Relayr

4 September, 2018 - 09:38
Munich Re is to acquire software company relayr via its subsidiary, Hartford Steam Boiler (HSB), as it looks to create new business models in the industrial Internet of Things (IoT).

Lloyd’s Lab selects 10 tech teams to help transform the market

4 September, 2018 - 09:09
Lloyd’s Lab, the global insurance market’s new innovation accelerator, has opened its doors following a global search for technology talent that drew more than 200 applications from 36 countries.

Property cat pricing remains at ‘mercy’ of alternative capital: AM Best

4 September, 2018 - 09:09
Optimism over a turn in the global reinsurance market after the 2017 catastrophes quickly diminished as the January 1 and midyear renewals proved disappointing, providing minimal pricing increases to reinsurers and leaving market dynamics relatively unchanged, according to a new AM Best report.

Cat lines boost growth in China but also mean volatility: S&P

4 September, 2018 - 09:09
China's reinsurers are investing in technology and systems to support a rapid expansion of nonmotor and, in particular, catastrophe insurance in the country. These business lines will help sustain growth, although they could expose the sector to more profit volatility.

Guy Carp poaches MD from Willis Re to fill strategy role

4 September, 2018 - 09:08
Guy Carpenter has hired a new head of strategy and client engagement within its international and global specialties divisions, with effect from October.

Turner assumes RSA Luxembourg leadership; looks to hire more in Europe

4 September, 2018 - 09:08
RSA Insurance Group's new European office in Luxembourg will be led by Richard Turner who previously oversaw the company's EU business from the UK, and has relocated to take up the role.

CCR Re enjoys strong growth in 1H 2018

4 September, 2018 - 09:08
CCR Re has enjoyed strong growth since it was launched in January 2017. For the first half of 2018, it posted premium income of €381 million, a 12 percent increase on the same period a year earlier, and net profit of € 17 million, equal to its profit for the whole of 2017.

Waiting for a $250bn industry loss

3 September, 2018 - 10:58
A $250 billion industry loss may be needed to turn the market after a combination of hurricanes, earthquakes and wildfires costing the insurance industry over $140 billion in 2017 resulted in only moderate rate increases, according to broker JLT.

Swiss Re UK & Ireland CEO steps down

3 September, 2018 - 10:58
Swiss Re has announced that its UK & Ireland (UKI) CEO Frank O'Neill has decided to leave the reinsurer to pursue an opportunity outside the company.

Tokio Marine swoops for Munich Re head of cyber innovation

3 September, 2018 - 10:58
Insurance group Tokio Marine Holdings (TMH) has appointed Munich Re's Daljitt Barn to the newly-created post of global head of cyber risk.

Everest hires Lloyd's Vandendael to lead global expansion

3 September, 2018 - 10:58
Everest Insurance, the specialty insurance division of Bermuda-based Everest Re Group, has hired Lloyd’s chief commercial officer Vincent Vandendael as CEO of Everest Insurance international.

Chinese giant PICC partners with blockchain VeChain and DNV

3 September, 2018 - 10:57
People's Insurance Company of China (PICC) has partnered with Shanghai-based blockchain platform VeChain and risk management firm DNV GL to create new blockchain insurance solutions aimed at bringing digital transformation to the insurance industry.


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