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Chubb has named Dawn Miller as country president for Switzerland, effective 1 March.
Axa Liabilities Managers (Axa LM) has received regulatory approval from the German regulator BaFin for the acquisition of a legacy assumed treaty reinsurance portfolio from Axa Versicherung.
European insurance stocks fell for a fourth consecutive day as the market tumult sparked by the growing coronavirus crisis sees European stocks follow Asia’s lead with heavy declines in morning trading.
Munich Re intends to buy back around 3.9 million of its shares for a maximum price of Eur1bn, ($1.1bn) beginning 30 April 2020 and finalising transactions before its annual general meeting (AGM) on 28 April 2021.
HDI Group has taken a stake in cybersecurity start-up Enginsight, which focuses on automated protection against hacking, for an undisclosed sum.
Thomas Miller has confirmed the previously announced retirement of Mike Jarrett is now in effect, with Leo Kirchner succeeding him in the Americas CEO role.
London-listed RSA saw its shares climb nearly 3 percent in early trading on Thursday after the insurance giant beat analyst expectations for 2019 after restructuring its international business.
Managing Agency Partners (MAP) – owner of Lloyd’s syndicates 2791 and 6103 – has employed the services of Lloyd’s Lab graduate Clausematch to manage all its policy and procedures documentation through a single platform.
French reinsurance powerhouse Scor has reported an uplift in gross written premium and operating profit in the fourth quarter of 2019 and at full year, despite suffering losses of Eur383mn ($417mn) from Japanese Typhoons Hagibis and Faxai.
The UK’s RSA saw operating profits increase by 15 percent in 2019 to some £597mn as its group combined ratio improved and the impact of exiting unprofitable areas of business under current CEO Stephen Hester continues to be felt.
Commercial P&C insurance premium prices in the US increased by an average of 7.5 percent in Q4 2019, accelerating from +6.2 percent in the third quarter, led by a 13.6 percent average rise in umbrella, according to the latest survey from The Council of Insurance Agents & Brokers.
AM Best has downgraded the financial strength ratings of a raft of Argo operating subsidiaries from A to A- with their long-term issuer credit ratings also cut from “a” to “a-” and the long-term ICRs of the Bermudian parent lowered from bbb to bbb-, among other actions.
A Lloyd’s intermediary backed by US retail broker Heffernan Group is closing in on a deal to acquire London market broker Prospect Insurance Brokers (PIB), The Insurer can reveal.
US wholesale broker Worldwide Facilities has brought in professional, cyber and liability specialist Brad Foote to lead its new Denver, Colorado office.
CNA has appointed Al Miralles as executive vice president and chief financial officer, succeeding James Anderson who has resigned to pursue other opportunities.
Medical malpractice specialist ProAssurance has seen its ratings downgraded by AM Best on the back of a deterioration in its operating performance as well as its planned $450mn acquisition of Norcal Group.
London’s ConsiliumRe has brought in Christian Warrener from RFIB as its new head of reinsurance, The Insurer has learned.
US carrier Nationwide and Italian insurance giant Generali have teamed up and launched a New Jersey-based joint venture to underwrite multinational program insurance for international commercial risks.
Axis’ chairman and co-founder Michael Butt is to retire from the Bermudian carrier in September, to be succeeded by Henry Smith.
Lloyd’s is set to welcome four new syndicate-in-a-box platforms drawn from smaller participants to the market in coming months, according to Lloyd’s CEO John Neal.
Lloyd’s will take a 40 percent stake in the London market’s electronic placing platform (PPL) as it commits to building a complex risk platform infrastructure as one of its key 2020 priorities in CEO John Neal’s “Future at Lloyd’s” transformation programme.
International General Insurance Holdings (IGI) has been given the regulatory green light by the UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) for its previously announced merger with Nasdaq-listed Tiberius Acquisition Corp.
Expansive broking house McGill and Partners has continued to build out its energy and power team with the hire of Ben Wilson.
Broker UIB has appointed Miles Taffs as deputy managing director of its aviation and space team, effective 16 March.
The UK’s Financial Conduct Authority (FCA) has confirmed its website was the source of a data breach after personal information was published online in response to a Freedom of Information Act request in November 2019.
Norwegian marine insurer Skuld recorded a 4.6 percent net increase in mutual P&I gross tonnage year-on-year from 2019 to 2020.
QIC Global – the parent company of Lloyd’s carrier Antares and Bermuda-based Qatar Re – has confirmed the appointed of Mike van der Straaten as CEO of QIC Global (International), a move first revealed by The Insurer.
Marsh has promoted Garrett Hanrahan to global head of aviation at Marsh JLT Specialty, to succeed Simon Harker who is retiring after 44 years in the industry.
Insurance stocks in Asia-Pacific fell for a third day on Wednesday following another sharp sell-off on Wall Street and in Europe sparked by a warning that the spread of the coronavirus in the US was inevitable and rising concerns of new cases in Europe.