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Financial Management

Month: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  • August 2014

    China nat cat risk to be shared 21 August 2014

    Under the planned system, the risk will be shared between the government, insurance and reinsurance firms and individuals, said Wang Zuji, vice chairman of China Insurance Regulatory Commission.

  • Ecclesiastical reports profit before tax of £18.4m 21 August 2014

    Ecclesiastical Insurance has reported profit before tax of £18.4m in its interim statement for the first half of the year.

  • RMS updates terror model 21 August 2014

    The enhanced terrorism model incorporates updates to event frequency to reflect new trends in terrorism including a decline in the frequency of macro-terrorism attacks.

  • Fitch upgrades Hannover Re to AA- 20 August 2014

    Fitch said in a note to the market that the “upgrade reflects Hannover Re's strengthened financial profile, including reduced financial leverage.”

  • Mitsui Sumitomo to offer protection for small exporters 20 August 2014

    Japanese insurer Mitsui Sumitomo has announced that it will be offering small to medium sized exporters account receivables protection.

  • Outlook is positive for Swiss Re: Fitch 20 August 2014

    Fitch upgrades Swiss Re outlook to positive from Stable and affirms A+ rating for the Zurich based reinsurer.

  • Scor's outlook revised to positive 20 August 2014

    Scor’s outlook has been revised to positive from stable after it boosted its first half income to €256m from €189m in 2014’s first half.

  • Australian insurers hit by 1/6 price dip: Marsh 19 August 2014

    In a new report, Marsh said soft market dynamics are continuing to drive an abundance of capacity in the (re)insurance market while competition between the country’s direct insurers has become more pronounced.

  • Fosun in talks to buy Swiss Re's Aurora 19 August 2014

    Hong Kong based conglomerate Fosun International is in talks to acquire Swiss Re's US life insurance arm, Aurora National Life Assurance.

  • IAG profits jump 59% to $1.23bn 19 August 2014

    The Australian insurer reported a 10.6% increase in insurance profit to $1.58bn for the financial year ended 30 June 2014, up from $1.43bn year-on-year.

  • Philippines Q2 insurance profits drop 19 August 2014

    Dipping life insurance profits have reportedly knocked back industry profits in 2014’s second quarter.

  • QBE profits slump 18% in H1 19 August 2014

    Australia’s largest insurer has posted an 18% decline in profits in the first half of 2014 after a number of adverse weather events in the US.

  • Reactions readies itself for New York events 19 August 2014

    The Reactions team is busy preparing itself for two of its flagship events - the North America Re/Insurance Conference and the North America Awards Dinner - both of which will take place in September.

  • Talanx unit sets up Brazil operation 19 August 2014

    HDI-Gerling Industrie Versicherung, a unit of Hannover based insurer Talanx, has established an industrial insurance operation in Brazil.

  • Fosun takes 20% Ironshore stake 18 August 2014

    Hong Kong-listed Fosun is to buy a 20% stake in Bermuda's Ironsshore from existing shareholders.

  • Insurers can withstand $100bn nat cat: Zurich 18 August 2014

    New capital means the industry is more robust and able to cope with what Zurich's general insurance chief Michael Kerner sees as a growing trend of large catastrophe losses caused by climate change, said Reuters.

  • Kenya’s CIC reports 67% H1 profit rise 18 August 2014

    In a statement to the market, the insurer said investment income jumped almost 300% to 138m shillings during the period.

  • Reinsurers move into APAC 18 August 2014

    The Asia Pacific region is increasingly popular for international reinsurers and start-up companies because of its growing market, Fitch Ratings said.

  • BP Marsh buys 5% Nexus share 15 August 2014

    BP Marsh has invested in a 5% share of Nexus, which BP Marsh hope to increase in the coming years.

  • CATCo posts strong 2014 to date 15 August 2014

    The London Stock Exchange’s listed retrocessional reinsurance linked investment fund, CATCo has had a positive first six months of the year.

  • China’s penetration to reach 5% by 2020 15 August 2014

    Chinese insurance penetration is expected to boom by 2020, with premium income to be one of the top two worldwide.

  • Film producers sue New York Marine 15 August 2014

    In the lawsuit filed with Los Angeles Superior Court, the production company, Film Allman, claimed that losses relating to a halt in production "are clearly covered under the policy that New York Marine issued in connection with 'Midnight Rider'" but that the insurer has "refused to pay the claim pursuant to an agreed-upon schedule.”

  • Munich Re's Ergo buys Greek bank 15 August 2014

    The sale is part of Piraeus Bank's restructuring plan, which aims at divesting non-core assets to bolster the lender's capital position.

  • Reinsurers face earnings volatility: S&P 15 August 2014

    Amplified earnings volatility faces global reinsurers according to S&P as the property catastrophe market continues to be competitive with excess capacity.

  • Rise in profit at Kenya Re 15 August 2014

    Kenya Re has booked a 6% rise in H1 profit.

  • Suncorp raises final dividend 15 August 2014

    Australian financial services group Suncorp has raised its ordinary dividend and its special dividend, following a strong contribution from General insurance in FY 2013/14

  • Danger in shift to specialty 14 August 2014

    Commercial lines and reinsurers underperformed the rest of the sector in Q2, turning analysts' sentiment even more firmly against them, reports KBW

  • Ghana’s insurance penetration drops 14 August 2014

    The level of insurance penetration in Ghana has dropped for the first time in almost a decade according to a new report.

  • India bill to increase foreign stakes is postponed 14 August 2014

    The delay in the legislation, pending since 2008, is hampering the expansion plans of insurers including AIG, Standard Life and MetLife.

  • QBE extends Swans football deal 14 August 2014

    QBE has extended its partnership with the Sydney Swans football team until 2019 but has warned that changes in functions may cause them to drop the deal.

  • Sampo raises its profits outlook due to low claims in H1 14 August 2014

    Finland’s Sampo has raised its outlook for insurance profits given a low claims environment.

  • Talanx maintains 10% ROE FY 2014 target 14 August 2014

    German insurance holding company Talanx has reported a 7% year on year decline in H1 group net income, to €381m, but has maintained its full-year target of 10% return on equity.

  • ABI expresses disappointment at L&G resignation 13 August 2014

    The Association of British Insurers (ABI) has expressed disappointment at the decision by Legal & General (L&G) to resign from the trade association.

  • Brit books gains in first H1 results since relisting 13 August 2014

    Brit Insurance is to pay out its first dividend since relisting as the company recorded strong profits and underwriting income in the first half of 2014.

  • Solvency II changes for securitisations 13 August 2014

    Changes in the capital charges for certain second-tier rated securitisations are likely to benefit southern European countries most, says Fitch

  • Write More, Write Less 13 August 2014

  • AJ Gallagher acquires two US firms 12 August 2014

    The Illinois-based broker has purchased Trip Mate, a full service travel firm and Caribbean-based Minvielle & Chastanet Insurance Brokers.

  • Aon launches simplified SII calculator 12 August 2014

    Aon has launched an easy to use Solvency calculator to help businesses navigate Pillar I’s standard formula calculation.

  • Gen Re and Gable sign reinsurance deal 12 August 2014

    Gen Re is partnering with European insurer, Gable, to become a reinsurance partner.

  • US Pru signs another longevity deal 12 August 2014

    US Prudential has signed its fourth longevity swap deal, acquiring some of the longevity risk currently held by UK-based assurer Rothesay Life.

  • China Re could float in Hong Kong 11 August 2014

    China Reinsurance Corp will float on the Hong Kong Market in an initial public offering (IPO) according to the Wall Street Journal.

  • Kane issues two cat bonds 11 August 2014

    Kane SAC has unveiled two cat bond issuances to add to the five it has already placed since August 2013.

  • Catlin doubles H1 profits 08 August 2014

    Catlin reports doubled profits in the first half of 2014; with strong investment returns and improved catastrophe results.

  • H1 net income down at Third Point 08 August 2014

    Third Point Re saw a decline in net income for the first half, affected by lower investment returns.

  • Hannover Re and Axa sign longevity swap 08 August 2014

    French insurer Axa has shifted €750m of longevity risk to Hannover Re in a landmark French deal.

  • Transamerica to rebrand insurance units 08 August 2014

    Tansamerica is rebranding and merging some of its insurance units to strengthen its brand.

  • Weather claims slam RSA Ireland H1 profits 08 August 2014

    Poor weather in the first quarter of the year, including heavy storm damage and flooding, contributed to a tough first half of 2014 for the insurer which yesterday reported interim underwriting losses for its Irish business of £64m (€80.6m).

  • AJ Gallagher acquires Denman Consulting Services 07 August 2014

    Founded in 1987, Denman Consulting Services offers employee benefit brokerage and consulting services throughout the western US.

  • Arig Q2 profits hit by subcontinental claims 07 August 2014

    The Bahrain-based insurer suffered a series of claims relating to Indian losses as well as negative impact from Re-Takaful interest.

  • Aviva H1 operating profit £1,052m 07 August 2014

    Aviva has grown its new business in the first half of 2014 by 9% to £453m, with Poland, Turkey and Asia growing by 54%.

  • Von Bomhard warns on rates 07 August 2014

    Munich Re chief executive Nikolaus von Bomhard has declared himself astounded at some companies' strategy for growth at the current point in insurance cycle

  • Zurich reports Q2 net profit of $837m 07 August 2014

    First half global operating profits rose to $2.6bn, up 15% year-on-year while second quarter operating profits also rose, up 32% to $1.2bn.

  • Ageas UK reports 100.7% H1 combined ratio 06 August 2014

    Ageas UK has reported strong profits for the first half of 2014 and is jointly acquiring UBI Assicurazioni with BNP Paribas Cardif in a €75m deal.

  • AIG acquires Ageas Protect from Ageas Group 06 August 2014

    AIG is acquiring Ageas’ UK life insurer, Ageas protect, in a £181m deal expected to close in 2014’s fourth quarter.

  • Hannover Re sees H1 GWP and net income contract 06 August 2014

    The German reinsurer's group GWP contracted 2.2% in the first half to €7.1bn, down from €7.2bn the previous comparable period.

  • Strong performance from Swiss Re P&C 06 August 2014

    Swiss Re has genearated a stronger year on year performance in Q2, although it said that there are hurdles to overcome in Life & Health Reinsurance

  • AIA to grant MH17 payments 05 August 2014

    AIA’s Berhad has guaranteed that it will pay ex-gratia payments to the next-of-kin of MH17 passengers who are customers of the company, regardless of the special restrictions.

  • Fairfax Bombshell 05 August 2014

  • Greenlight Re reports GWP fall for Q2 05 August 2014

    The firm reported gross written premiums of $33.7m, compared to $135.2m in the second quarter of 2013, as well as net earned premiums of $87.9m, a decrease from $133.0m reported in the prior-year period.

  • Heritage reports Q2 net income decline 05 August 2014

    The firm reported gross written premiums had more than doubled to $44.3m in the second quarter, compared to $21.6m in the same period in 2013.

  • Moody’s upgrades Colombian insurer 05 August 2014

    Moody’s has announced that it has upgraded the ratings of Colombian insurance group Suramericana - part of Grupo Sura conglomerate.

  • Novae reports H1 89% underwriting improvement 05 August 2014

    Novae has reported a strong first half for 2014 with an impressive claims ratio at 49% and combined ratio of 91%.

  • Steadfast partners with reinsurance broking business 05 August 2014

    Steadfast Re will be the only Australian owned reinsurance broker supporting Australian and New Zealand insurers, and it will have the endorsement of Steadfast and an international reinsurer broker Beach & Associates.

  • Arch uses more retrocession 01 August 2014

    Bermudian re/insurer Arch Capital used more retrocession in its reinsurance business in Q2, keeping reinsurance NWP roughly flat, although GWP increased.

  • Axa H1 profits rise 22% 01 August 2014

    Axa’s chairman and chief executive officer Henri de Castries said the Paris-based insurer had “the best ever first half for AXA” as underlying earnings figures rose 11% to €2.8bn, driven by strong increases in all business lines.

  • Co-operators reports $58.1m Q2 income 01 August 2014

    Canadian Co-operators General Insurance has reported a $58.1m second quarter net income and a combined ratio of 93.9%.

  • Direct Line H1 profits hit by weather claims 01 August 2014

    Operating profits fell to £249.1m from £286.6m in the first half of 2013, which the insurer said reflected higher weather claims and lower prior-year reserve releases of £218.0m (H1 2013: £239.2 m).

  • Euler Hermes reports 73.1% H1 combined ratio 01 August 2014

    Euler Hermes’ net earned premiums were €529.3m for 2014’s second quarter, despite lower turnover in the Americas, France and Germany.

  • Fairfax posts Q2 profit 01 August 2014

    Fairfax has posted substantial profits in the second quarter of 2013, recording net income of $363.7m, compared with a net loss of $157.8m in Q2 2013.

  • Insurers can withstand $100bn nat cat: Zurich 01 August 2014

    New capital means the industry is more robust and able to cope with what Zurich's general insurance chief Michael Kerner sees as a growing trend of large catastrophe losses caused by climate change, said Reuters.

  • Ping An Insurance posts 19% H1 profit rise 01 August 2014

    Total investment income fell 12% even as net investment income, comprised mainly of interest and dividends, climbed 23%.

  • Serbian insurer’s license revoked 01 August 2014

    Serbian insurer Takovo Osiguranje has had its license revoked and a motion filed for its bankruptcy at the Commercial Court in Kragujevac.

  • July 2014

    Allstate profits up 49% in Q2 31 July 2014

    American home and auto giant Allstate has recorded a 49% rise in profits in the second quarter of 2014 compared with the same period last year.

  • ERS turns profit for the first time in 5 years 31 July 2014

    The double A-rated Lloyd's MGA, which runs motor Syndicate 218, reported a second quarter profit of £1.2m, a £25m improvement on the same period in 2013.

  • Fairfax Asia buys 78% stake in Sri Lanka insurer 31 July 2014

    The Asian subsidiary of Canada's Fairfax is to buy a majority stake in the non-life part of Sri Lankan insurer Union Assurance.

  • Generali Q2 profits hit by Swiss bank sale loss 31 July 2014

    Europe’s third largest insurer by market value saw its net income fall to €417m from €478m in the comparable period in 2013.

  • Xchanging revenue down by £65.6m 31 July 2014

    Following a divestment, business services provider Xchanging has reported a significant drop in year on year net revenue for its half year results.

  • Gallagher posts 51% Q2 revenue rise 30 July 2014

    The US broker reported a profit after tax of $109m in the second quarter of 2014, up 17% from $93.5m in year-on-year comparisons.

  • Gallagher posts 51% Q2 revenue rise 30 July 2014

    The US broker reported a profit after tax of $109m in the second quarter of 2014, up 17% from $93.5m in year-on-year comparisons.

  • JLT revenues up 15% in H1 but cautious about H2 29 July 2014

    Jardine Lloyd Thompson (JLT) has posted a 15% increase in its revenues to £559.6m for the first six months of 2014, however CEO Dominic Burke is cautious about the the year ahead given the current rating environment and the strength of sterling.

  • QBE issues profit warning ahead of H1 results 29 July 2014

    QBE said it expected insurance profit margins to be between 7% and 8%, compared with the analysts' consensus of around 10%.

  • WR Berkley profits up in Q2 29 July 2014

    WR Berkley reports net income of $180m for the second three months of 2014, compared with $116m in the same period last year.

  • XL bounces back to Q2 profit 29 July 2014

    The Dublin-based insurer reported a $279.3m net loss, effectively reversing a $272.7m prior-year net profit related to the loss on the sale of its life reinsurance subsidiary.

  • Aspen shareholders resist Endurance proposals 28 July 2014

    The shareholders of Bermudan insurer Aspen have rejected Endurance’s authorization proposals.

  • Hiscox books £124.6m H1 gain 28 July 2014

    Bermudan insurer Hiscox has recorded profits of £124.6m before tax for the first half of the year; the (re)insurer recorded gross written premiums of £978.9m.

  • Brazilian insurance market grows 29%: Moody's 25 July 2014

    Since the opening of the reinsurance market to competition in 2008 the Brazilian market has grown at a cumulative real growth rate of 29%.

  • Mapfre reports 95.7% H1 combined ratio 25 July 2014

    Mapfre’s pre-tax profits and minority interests were at a record high for the first half of 2014 with revenue similar to the prior year half.

  • The regulators are still trying to define which reinsurers are systemic 25 July 2014

    Denis Kessler was in London in late June for the International Insurance Society 50th Annual Seminar. Reactions caught up with him to ask about his views on the current state of the market. Peter Birks reports.

  • Allied World posts profitable Q2 24 July 2014

    Allied World has posted profitable second quarter results, with a net income of $151m, compared to a net loss of $1.9m last year.

  • Aspen reports Q2 after tax net income of over $130m 24 July 2014

    Aspen has reported a profitable second quarter net income of $130m; $1.82 diluted net income per share.

  • FDI hike in India takes another step forward 24 July 2014

    India’s parliament is to vote on a new bill that seeks to raise the level of foreign direct investment (FDI) in the Indian insurance market to 49%.

  • IAG expects FY14 result boost 24 July 2014

    IAG is expecting better 2014 results than previously predicted with natural peril claims to cost about $555m instead of the previously expected $640m.

  • Lancashire profit dips in line with expectations 24 July 2014

    Bermuda's Lancashire reported a lower net gain for H1, with prices down by an average of 7% year on year

  • Turkey’s Halkbank considers selling insurance units 24 July 2014

    Turkey’s state-owned bank is reportedly considering selling two insurance units as part of its longer term strategy to exit insurance.

  • H1 net income down at Ace 23 July 2014

    Switzerland-domiciled, NY-listed Ace has booked a decline in first half profits

  • Phoenix Group refinances to single debt facility 23 July 2014

    The move comes as the group looks to simplify and strengthen its balance sheet with the aim of achieving an investment grade rating in future.

  • Stable outlook for Tugu Re: Fitch 23 July 2014

    Ratings agency Fitch has affirmed its stable outlook for Indonesia's PT Tugu Reasuransi Indonesia's (Tugu Re).

  • Vienna Insurance opposes Hypo investment 23 July 2014

    Vienna insurance’s chief executive reportedly opposes new Austrian laws for investors and taxpayers to bail-in Hypo bank, saying it is “ultimately a cold-blooded expropriation”.

  • When will the soft market cut into reinsurer ratings? 23 July 2014

    All the signs are that reinsurance pricing will keep falling. Garry Booth writes on the run-up to the Monte Carlo Rendez-vous

  • International trio form EMEA reinsurer 22 July 2014

    The Moroccan Agricultural Mutual Insurance (Mamda) is aligning itself with the French company La Centrale de Reassurance Mutual (MCR) and Bermuda-based Partner Re to launch the venture.

  • TransRe invests in new Florida P&C co. 22 July 2014

    TransRe, Federated National Holding Company and CA Bancorp are investing in a new Florida property and casualty insurance company.

  • Travelers Q2 net income drops to $683m 22 July 2014

    Travelers has seen its net income for 2014’s second drop to $683m with a combined ratio of 93.4%.

  • Platinum Re H1 down on lower premium income 21 July 2014

    Bermuda-based Platinum Re has reported net income of $99.1m for H1 2014, down from $136.4m in H1 2013.

  • Expect consolidation in Malaysian insurance: Fitch 18 July 2014

    We can expect to see more consolidation in the Malaysian insurance market following 2013 changes in regulation, according to Fitch Ratings.

  • RSA facing fine for Irish accounting scandal 18 July 2014

    Group chief executive Stephen Hester has said: “There will be some sort of Irish regulatory action in the summer. I don’t expect the fine will be a headline-making one.”

  • Nationale Suisse, China Re P&C partner 17 July 2014

    Nationale Suisse and China Re P&C are partnering to offer solutions to China’s fine art, engineering and marine sectors.

  • Private equity firm sells stake in Continental Reinsurance 17 July 2014

    The private equity firm first invested $25.8m in the insurer in 2007 for a 30% stake to help increase its underwriting capacity to $80m from $15m, Emerging Capital Partners, said on its website.

  • Starr completes Chinese aquisition 17 July 2014

    Hank Greenberg's Starr Insurance has completed the aquisition of Chinese insurer Dazhong Insurance Company.

  • Advisors: Aspen investors should reject Endurance proposal 16 July 2014

    Proxy advisors Glass, Lewis & Co told investors: “Endurance has failed to make a compelling case for Aspen shareholders to support the proposed authorizations"

  • AIR releases single platform Touchstone v2.0 16 July 2014

    The new version includes the ability to account for both catastrophe and non-catastrophe risk in a single platform, providing a more comprehensive view of risk.

  • Hamilton Re enters into agreement with Iron-Starr 16 July 2014

    Bermudan reinsurer Hamilton Re has entered into an agreement with Iron-Starr Excess Agency, the managing general agency that underwrites on behalf of Ironshore and Starr.

  • Zurich to be world's largest green bond investor 16 July 2014

    Swiss insurer Zurich has announced that it is to double its investment in green bonds making it the world's largest green bond investor.

  • Norway’s Gjensidige Q2 profits rise 62% 15 July 2014

    Gjensidige has reported a record high in pre-tax profits with a 62% year on year jump in its second quarter profits with few large losses.

  • HUW secures stop loss reinsurance for 2014 14 July 2014

    The firm has entered a stop loss reinsurance agreement with Hampden Insurance PCC (Guernsey) Limited - Cell 7 ("Cell 7"), a special purpose vehicle, which has reinsured the risk on a back-to-back basis with another international reinsurer.

  • Nationale Suisse merger has positive implications: AM Best 14 July 2014

    Nationale Suisse and Helvetia's merger, announced on July 7, has prompted AM Best to put National Suisse's rating under review with positive implications

  • Quindell shares soar 14 July 2014

    UK-based Quindell saw its share price soar today after releasing an upbeat trading statement.

  • UAE insurance premiums increase by 12.2% in 2013 14 July 2014

    Written premiums of all types in the UAE have increased to AED29.5bn ($8bn) in 2013; a 12.2% rise from 2012

  • BTG Pactual buys Ariel Re from Global Atlantic 11 July 2014

    BTG Pactual is acquiring Ariel Re from Global Atlantic, but Ariel Re will continue to operate under its brand and through its Lloyd’s syndicate.

  • Charman slams Aspen 'smokescreen' ahead of vote 11 July 2014

    Aspen’s board has issued a third rejection of Endurance's hostile takeover bid as it urges shareholders to disregard Endurance’s white authorisation card.

  • Infrassure goes into runoff 11 July 2014

    Swiss insurer Infrassure has halted sale talks and placed itself into run-off after writing to the Swiss insurance regulator confirming it will stop underwriting new business.

  • Tower Group to vote on merger 11 July 2014

    The shareholders of Tower Group are to vote on a proposed merger with ACP Re.

  • Aviva IE says 'no jobs lost' in cost cutting drive 10 July 2014

    Speaking to investors, Aviva bosses stressed there would be no personnel cuts at its operations in Dublin, Cork or Galway, where it employs some 1,100 people.

  • CNP reaches deal with Santander 10 July 2014

    French insurer CNP Assurances has reached a deal with Spanish bank Santander to purchase a stake in its consumer finance unit.

  • Admiral issues trading update 09 July 2014

    Admiral has issued a trading update ahead of the August 13 release of its H1 numbers. Chief executive Henry Engelhardt said that UK motor rates had stopped falling, but that there was not yet any sign of an inflection point

  • Aviva will double cash flow by the end of 2016 09 July 2014

    The insurer said in a statement it would also look at reducing its operating expense ratio to below 50% over the same period.

  • HUW acquires Lloyd's LLV 09 July 2014

    HUW said the 2014 underwriting capacity of Dumasco is £1.5m compared with HUW's 2014 capacity of £21.3m prior to this acquisition

  • Kinesis raises $50m in midyear draw 09 July 2014

    Lancashire's collateralised reinsurance arm Kinesis has executed its midyear draw, raising an additional $50m

  • Double digit rate drops at 1/7 renewals: Guy Carp 08 July 2014

    According to a new Guy Carpenter report, loss activity remained minimal, reinsurers added to surplus capacity and additional capital continued to come into the market via alternative sources

  • Economic expansion to boost Bolivia P&C, life 08 July 2014

    Bolivia’s annuities market outlook is negative, as low interest rates and a lack of capital adequacy drag down insurers, Moody’s reported.

  • Fidelity and Guaranty upgraded 08 July 2014

    Moody's has upgraded the senior unsecured debt rating of Fidelity & Guaranty Life Holdings Inc, formerly Harbinger F&G

  • Amlin to buy 75% of LCP 07 July 2014

    Amlin has agreed in principle to increase its stake in Leadenhall Capital Partners to 75%, from the current 40%.

  • Delek sells controlling stake in Phoneix insurance 07 July 2014

    The non-binding agreement with the Kushner Group is subject to completion of due diligence and receipt of regulatory approval, said the Israeli insurer

  • Helvetia to buy Nationale Suisse 07 July 2014

    Swiss insurers Helvetia and Nationale Suisse are to combine in a CHF1.8bn deal that will create the country's third-largest composite insurer

  • Record cat bond issuance in Q2: Willis 07 July 2014

    The report noted that the record issuance was driven by two of the largest ever catastrophe bond transactions; Everglades Re 2014, a $1.5bn bond for Florida Citizens and two Sanders Re 2014 takedowns totalling $950m in new capacity for Allstate

  • Randall & Quilter buys Accredited Surety 04 July 2014

    Randall & Quilter has acquired Accredited Surety, a bail bond and surety specialist for $25m, expanding Randall & Quilter's live platform.

  • Xchanging buys Agencyport & Total Objects 04 July 2014

    Xchanging has announced two acquisitions, Agencyport Europe and Total Objects, in two days, in deals valued at £85.1m in total.

  • AIG would divest units to avoid rescue 03 July 2014

    AIG has said that it would divest units and halt policy sales to avoid taking a bailout in a future financial crisis

  • Itau in final talks to sell insurance unit 03 July 2014

    Brazilian Itau Unibanco has reportedly signed an exclusive contract to hold talks with potential buyer of its high-risk corporate insurance unit, rumoured to be Ace.

  • NN Group shares rise 7% on IPO debut 03 July 2014

    The insurance arm of Dutch financial services firm ING Group debuted at €20 per share and is expected to gross the firm around €1.5bn

  • Swett & Crawford expands into LatAm 03 July 2014

    The new growth strategy was announced earlier this month by CGSC group chief executive officer, Toby Esser, during a visit to Brazil where he met with some of the country’s leading insurance brokers

  • Swiss Re buys RSA's China unit for £71m 03 July 2014

    The Zurich-based insurer's purchase of Sun Alliance Insurance (China) will enable Swiss Re to offer corporate insurance directly from mainland China

  • Aquila underwriting premium rises to $65m in 2013 02 July 2014

    Aquila saw a rise in turnover in 2013 to £5m from £3.1m in 2012; underwriting premium was up to $65m

  • France’s CNP in talks with Santander 02 July 2014

    French insurer CNP Assurance has confirmed it is in talks with Santander over purchasing its Irish insurance unit

  • Hannover Re transfers named storm risk to capital markets 02 July 2014

    Reinsurer Hannover Re has transferred named US storm risk to the capital markets through a transaction involving the Texas Windstorm Insurance Association (TWIA)

  • ILS leaders ponder Florida models' accuracy 02 July 2014

    ILS thought leaders at a Guernsey-organised panel held Wednesday in Zurich pondered whether the models on Florida natcat risk truly represented the potential loss, but they still felt that the sector was profitably priced

  • ING begins NN Group share trading 02 July 2014

    NN Group shares started trading this morning in what could be Europe’s largest stock floatation in 2014 as parent-company ING pushes to pay off its 2008 bailout.

  • ING insurance arm to list for €20 per share 02 July 2014

    The IPO price, which was in the middle of an initial range of €18.50-€22.50 per share and will result in approximately €1.5bn in gross proceeds, said the firm in a statement

  • Sirius syndicate 1945 gets own managing agency 01 July 2014

    White Mountains Group subsidiary Sirius has launched its own managing agency for syndicate 1945, three years after the syndicate's launch with turnkey operation Whittington.

20 Aug 2014

In this week's issue:
$100bn nat cat survivable
India FDI bill postponed
AIG returns to lobby
Fosun backs Ironshore

View issue

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