Reinsurance News
Natixis expands M&A advisory reach with three strategic investments
13th March 2018
Natixis has revealed plans to expand its M&A advisory footprint through investments in Fenchurch Advisory Partners in the UK, Vermilion Partners in China, and Clipperton in France. Following the acquisitions of Leonardo & Co France and 360 Corporate in 2015, and of PJ SOLOMON in New York in 2016, these transactions ... Read the full article
Pen Underwriting expands broker support team with two senior appointments
13th March 2018
Pen Underwriting has announced that it is to enhance its specialist support of UK brokers by appointing Andy Dodd and Duncan Green to newly created positions in its business development team. Dodd will become Schemes and Delegated Authority Business Development Manager and will be responsible for helping brokers to grow their ... Read the full article
Barbican strengthens cyber cover with incident response & phishing simulation
13th March 2018
Barbican Insurance Group has strengthened its cyber insurance cover by providing incident response exercises and phishing simulation as part of the overall package to be delivered through risk and cybersecurity consulting firm, TSC Advantage. Read the full article
Ed expands Professional & Executive Risk team
13th March 2018
UK reinsurance broker Ed has announced that it has enhanced its Professional & Executive Risk team with the appointment of Duncan Childs as Wordings Advisory Manager. Childs will now be responsible for drafting policy wordings for Ed’s clients, and will report to James Baird, Director of the Professional & Executive Risk ... Read the full article
Argo acquires Italian specialty insurer, Ariscom
13th March 2018
Global specialty insurer and reinsurer, Argo Group International Holdings, Ltd., has announced the acquisition of Ariscom, an Italian specialty insurer. As part of the transactions, and effective immediately, Matt Harris, Head of ArgoGlobal's European and Asian operations, will take on the role of Ariscom Managing Director. Mark E. Watson III, Argo Group's ... Read the full article
Volume of M&As in Europe to increase once Brexit preparations finalised: Clyde & Co
13th March 2018
While uncertainty around the UK’s withdrawal from the EU has acted as a brake on European M&A activity as re/insurers focus on post-Brexit strategies, Clyde & Co expects the volume of deals in the region to increase once firms' Brexit preparations are complete. Transactions have slipped down the agenda as insurers ... Read the full article
R&Q finalises assignment of large deductible liabilities
13th March 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has announced the assignment of insurance liabilities under deductible policies from a U.S manufacturer. R&Q has stated that the underlying liabilities relate to workers’ compensation policies that were issued by a large U.S carrier to a U.S corporate. The terms of the deal meant the ... Read the full article
Urs Uhlmann leaves Zurich to become CEO, Country Manager for Canada, XL Catlin
13th March 2018
Global insurer and reinsurer XL Catlin has hired Urs Uhlmann from Zurich Canada as Chief Executive Officer (CEO), Country Manager for Canada, tasked with leading the firm's overall insurance operations in the country and its regional business strategy. Uhlmann joins XL Catlin from global insurer Zurich, where he was most recently ... Read the full article
Acrisure finalises Beach takeover
13th March 2018
Reinsurance brokerage Beach & Associates has announced the completion of its acquisition by U.S. retail consulting and insurance broking group, Acrisure, LLC, after the receipt of all necessary regulatory approvals. The deal was initially announced in January 2018, and Acrisure has now acquired 100% of Beach's equity from existing shareholders, as ... Read the full article
Chen Wenhui elected as first Vice Chairman of IAIS Executive Committee
13th March 2018
Vice Chairman of the China Insurance Regulatory Commission (CIRC), Chen Wenhui, has been elected to represent emerging markets as the first Vice Chairman of the International Association of Insurance Supervisors' (IAIS) Executive Committee. Wenhui's election represents recognition of achievements that have consolidated China's leading role in the reform and construction of the global ... Read the full article
XL Catlin joins InsurTech Asia Association as founding member
13th March 2018
Global insurer and reinsurer XL Catlin has been revealed as one of the founding members of the InsurTech Asia Association, an independent re/insurance industry initiative designed to advance insurance in Asia through the utilisation of insurance technology. XL Catlin has joined as a founding member through the XL Group Ltd company ... Read the full article
Hannover Re 2017 income nears EUR 1 billion despite catastrophes
13th March 2018
German reinsurer Hannover Re has reported net income of EUR 958.6 million for the full-year 2017, as its results showed how its global scale and diversity has helped them firm to a reasonable result, despite the major catastrophic losses of last year and a plummeting underwriting result in P&C reinsurance. In ... Read the full article
Prudential Corporation Asia hires new Chief Operating Officer
13th March 2018
Prudential Corporation Asia (PCA), the Hong Kong-based life insurance business unit of Prudential plc, has announced the appointment of Robin Spencer as Chief Operating Officer. In his new role as a member of the PCA Executive Team, Spencer will be responsible for supporting an efficient operating model for the company, optimising ... Read the full article
Profitable growth for re/insurers in the CIMA zone: A.M. Best
12th March 2018
Ratings agency A.M. Best has reported that insurers and reinsurers within the Conférence Interafricaine des Marchés d’Assurances (CIMA) zone, exhibited steady profitable growth despite a challenging operating environment characterised by significant economic and political headwinds. The agency’s report notes that, although this lower economic activity has reduced growth, relatively low claims ... Read the full article
Trebuchet (Armour) leads on acquisition of BICO’s legal expense insurance business
12th March 2018
Trebuchet Group Holdings Limited, an investment vehicle owned by the founders and principals of Bermudian insurance and reinsurance services, investing, run-off and legacy specialists Armour Group, is leading the acquisition of a controlling interest in the legal expense insurance business of Canadian firm BICO Risk Management Inc. A consortium led by ... Read the full article
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