Markel CatCo under investigation by US/Bermuda authorities
Markel CatCo - a leading provider of collateralised retro capacity - confirmed last night it is under investigation by “US and Bermuda authorities” over its loss reserves.
High Court approves RSA’s Part VII transfer
The High Court of England and Wales has given UK insurer RSA the green light for its Part VII transfer.
Allianz gains regulatory nod for first foreign-controlled Chinese carrier
German insurer Allianz has received approval from the Chinese financial regulator to launch an insurance holding company in China.
Further delay in publication of FCA wholesale broker probe findings
The Financial Conduct Authority (FCA) has once again pushed back the publication date of the initial findings of its wholesale insurance broking study to the first quarter of next year.
Failed NZ insurer CBL now accused of links to South American cartel
New Zealand insurer CBL Insurance – whose failure earlier this year led to the knock-on collapse of Danish insurer Alpha - was formally put into liquidation earlier today by the Auckland High Court amidst allegations of hidden insolvency and ties to an alleged international drug smuggling cartel.
QBE’s Belgium hub handed A rating by AM Best
AM Best has assigned QBE’s European hub with that all important ‘A’ financial strength rating, citing the strategic importance of the Australian carriers post-Brexit business as a major influence behind the decision.