QBE – Mumbai

QBE sells stake in Indian joint venture

2020-07-07T16:53:00+01:00

QBE is to sell its stake in Raheja QBE – its insurance joint venture in India – to fintech Patym and its chief executive Vijay Shekhar Sharma, as the Australian insurer continues to simplify its business model under group CEO Pat Regan.

Willis Towers Watson

Covid-19 drives down global M&A deals

2020-07-06T12:41:00+01:00

The impact of the economic uncertainty caused by the Covid-19 pandemic has significantly driven down global dealmaking in the first six months of 2020, with North America showing the sharpest decline.

Axa XL

Axa XL gets green light to open first foreign reinsurance subsidiary in China

2020-07-02T06:34:00+01:00

Axa XL has become the first company to receive sign off from the China Banking and Insurance Regulatory Commission (CBIRC) to establish a foreign-owned reinsurance subsidiary in the country.

Enstar

Enstar completes acquisition of Great Lakes and HSB run-off portfolios

2020-07-02T00:25:00+01:00

Enstar Group has completed its previously announced acquisition of various run-off portfolios from the Australian operations of Munich Re offshoots Great Lakes Insurance and HSB Engineering Insurance.

Steve Johnston – Suncorp

Suncorp adds A$400mn agg XoL to cat programme amid operating overhaul

2020-07-01T07:17:00+01:00

Suncorp has completed the renewal of its catastrophe reinsurance programme ahead of the start of its upcoming financial year with the Australian insurance giant adding a new A$400mn ($270.7mn) aggregate excess of loss (AXoL) cover.

Sedgwick – Malaysia

Sedgwick rebrands Malaysia operations in latest Asia push

2020-07-01T12:40:00+01:00

Carlyle Group-backed Sedgwick has renamed its Malaysia operations – Maphilindo International – under the Sedgwick brand in a move designed to bolster the loss adjuster’s position in the Asia Pacific market.

Sandra Lee – BMS

BMS names Aon’s Lee head of Asia

2020-06-30T12:36:00+01:00

Expansive broker BMS has appointed Aon’s Sandra Lee as the head of its operations in Asia.

Veronique Ingram – ICA

ICA appoints Ingram to chair code committee

2020-06-29T12:19:00+01:00

The Insurance Council of Australia (ICA) has named Veronique Ingram as the independent chair of the General Insurance Code Governance Committee (CGC).

Lloyd's

Lloyd’s promotes May to international CFO

2020-06-26T21:05:00+01:00

Lloyd’s of London has promoted Jonathan May to the position of international chief financial officer.

GIC Re – Mumbai

GIC Re’s combined ratio hits 114% at FY19

2020-06-25T12:39:00+01:00

General Insurance Corporation of India (GIC Re) saw its combined ratio deteriorate 8.5 percentage points to 114.37 percent for the year ended 31 March 2020.

QBE

QBE dips as Asia-Pacific stocks mixed on second virus wave

2020-06-24T06:57:00+01:00

Shares in QBE closed 1.5 percent lower on Wednesday as Asia-Pacific (re)insurance stocks traded mixed on persistent fears over the surge in coronavirus cases in parts of US, Brazil and Asia.

Pat Regan – QBE

QBE pulls trade credit cover for at risk retailers: reports

2020-06-22T08:16:00+01:00

Australian insurer QBE is to stop writing trade credit insurance for two national retailers over concerns the businesses will not survive the Covid-19 pandemic.

EQC

New Zealand EQC reveals NZ$186mn premium for reinsurance programme

2020-06-20T09:55:00+01:00

New Zealand’s Earthquake Commission (EQC) has told this publication that the premium for its NZ$6.2bn ($4.0bn) reinsurance programme is NZ$185.7mn for 2020/2021 with the retention unchanged at NZ$1.75bn.

II-ChinaTaiping

China Taiping looking to sell $400mn stake in Taiping Re

2020-06-19T20:09:00+01:00

China Taiping Insurance Holdings is considering selling a 25 percent stake in its reinsurance subsidiary, with a tender process already underway.

Stocks

Lancashire leads modest gains as Europe points higher despite rising coronavirus cases

2020-06-19T10:48:00+01:00

London-listed Lancashire Holdings led modest gains amongst its European peers as P&C equities inched higher on Friday as investors weighed up rising coronavirus cases in the US and China against sprawling stimulus measures from central banks.

EQC

New Zealand EQC renews NZ$6.2bn Aon-placed reinsurance programme

2020-06-18T16:18:00+01:00

New Zealand’s Earthquake Commission (EQC) has renewed its NZ$6.2bn ($4.0bn) reinsurance programme for the forthcoming year, with the cover provided by the Aon-placed programme unchanged from last year.

Swiss Re

Emerging market infrastructure investment creates $50bn premium opportunity: Swiss Re

2020-06-17T11:31:00+01:00

Emerging market infrastructure projects will generate a circa $50bn premium opportunity for global (re)insurers, according to reinsurance giant Swiss Re.

CPIC

China Pacific Insurance makes $1.8bn LSE debut

2020-06-17T14:58:00+01:00

China Pacific Insurance Company (CPIC) has raised $1.8bn for its offering of global depositary receipts on the Shanghai-London Stock Connect segment of the London Stock Exchange with Swiss Re set to snap up over 28 percent of the GDRs as cornerstone investor.

QBE

QBE shares climb 6% as global stocks rally on US stimulus hopes

2020-06-16T10:06:00+01:00

Shares in Australian giant QBE gained over 6 percent on Tuesday as global (re)insurance equities rallied on growing expectations the US will deploy a new round of stimulus measures to steady the world’s biggest economy.

Peak Re and Moody's

Fosun-backed Peak Re receives Moody’s boost

2020-06-16T07:29:00+01:00

Peak Re, the Fosun-owned Hong Kong reinsurer, has received an A3 Moody’s financial strength rating to complement its A- AM Best rating.