MSIG Asia adds AGCS’ Villar as head of technical servicesMSIG Asia, a wholly-owned subsidiary of Mitsui Sumitomo Insurance Co Ltd and part of MS&AD Insurance Group, has appointed Victorio Villar as head of technical services.
Japanese insurers now expect to offer marine cover for Russia-Ukraine after reinsurance negotiationsThree Japanese insurers previously set to halt coverage for ships passing through Russian waters are now expected to reverse this decision and maintain marine war insurance from 1 January.
MS&AD’s CVC increases total assets under management to $300mnMS Amlin parent MS&AD has announced that its corporate venture fund, MS&AD Ventures, has increased in size by $100mn, bringing total assets under management to $300mn.
Japanese carriers in talks with reinsurers to resume Russia-Ukraine marine coverThree Japanese insurers set to halt coverage for ships passing through Russian waters from 1.1 amid a scarcity of reinsurance are understood to be in discussions with reinsurers to resume coverage.
MS Amlin falls to £131mn H1 loss as books £157mn Hurricane Ian hitMS&AD-owned MS Amlin has posted a net loss of £131mn ($156mn) for the first half of the financial year – down from a profit of £33mn in the prior-year period – as the carrier estimated its Hurricane Ian loss at £157mn.
MSI appoints Slabbert as US CEO with Carrier to take charge of Lloyd’s unitMSIG Holdings (USA), the onshore US (re)insurance arm of Japan’s MS&AD Insurance Group, has appointed Johan Slabbert as CEO with effect from 1 January 2023.
Property cat: Now is the time for providers to commitMS Reinsurance’s Chris Hayward outlines why a strategy for delivering property catastrophe capacity is more essential than ever amid increasingly difficult market conditions…
Underscoring our commitment: Introducing MS ReinsuranceCharles Goldie explains the rationale behind the rebranding of MS Amlin to MS Reinsurance…
MSI-Transverse deal sparks valuation frenzy in fronting spaceFive years after Markel’s $919mn acquisition of State National at 16x 2018 earnings fuelled a surge in start-up activity in the fronting sector, those new entrants are now trying to grasp what Mitsui Sumitomo Insurance Co (MSI)’s surprise $400mn move to buy Transverse means for their own potential valuations.
MS Amlin posts £93mn Q1 loss driven by Russia-Ukraine and negative investmentsA £95mn ($115.5mn) impact related to the Russia-Ukraine war and £21mn in investment losses in the first quarter of the year have pushed MS Amlin further into the red.
MS Amlin posts FY21 CR of 107.4% as books £296mn cat lossesMS&AD-owned MS Amlin has reported a combined ratio of 107.4 percent for 2021 – down 2.0 percentage points from the previous year – with the carrier narrowing its net losses to £190mn ($237mn) from a loss of £222mn in 2020.
Japanese cedants regain ground on QS cedes at 1.4 as XoL rates rise 5%Earthquake quota shares have come under pressure for reinsurers of the big three Japanese carriers at the 1 April renewals, with some cedants successfully pushing up ceding commission by a point or two, The Insurer understands.
MS Amlin returns to profit in 2021 with 102% CRMS Amlin’s Lloyd’s operations returned to profitability in 2021 with the managing agency heralding Syndicate 2001’s turnaround initiatives as beginning to bear fruit
AM Best puts MS Amlin AG on negativeAM Best has reduced its outlook on MS Amlin AG’s issuer credit rating (ICR) from stable to negative citing the Zurich reinsurer’s “weakening underwriting performance since 2017”.
Sompo Intl 9M surge highlights MS Amlin’s turnaround strugglesThe latest figures show the Japanese big three carriers’ international operations are travelling at different speeds.
MS Amlin reports 111.9% CR as 9M nat cat bill rises to £272mnMS Amlin has reported a group adjusted loss of £120mn ($160mn) for the first nine months of 2021, driven by a natural catastrophe bill of £272mn.
MS Amlin improves CR by 10.9 pts despite £203mn hit from Ida and Euro floodsMS Amlin has reported a combined ratio of 99.9 percent for the first half of the financial year, an improvement of 10.9 percentage points on the prior-year period.
MS Amlin parts ways with reinsurance head Wilken after only six months; linked with Hiscox Re & ILSLloyd’s (re)insurer MS Amlin Underwriting Limited has parted ways with its head of reinsurance Matthew Wilken after only months in the role, with the former Ariel Re underwriter linked to a swift return to Bermuda at Hiscox Re & ILS, The Insurer can reveal.
MS Amlin Lloyd’s CRO Desai returnsLloyd’s (re)insurer MS Amlin Underwriting Limited’s chief risk officer Vishal Desai is to return to his role after stepping down this summer for personal reasons, The Insurer understands.
Renewable MGA Energetic completes $7mn Series A with Scor and MS&AD supportRenewable energy insurtech MGA Energetic Insurance has completed a $7mn Series A funding round that included new support from MS&AD Ventures as well as from existing investor and capacity provider Scor.