Former Zurich EMEA chief Hartigan takes helm at LV=UK life insurer LV= has appointed former Zurich senior leader Mark Hartigan as CEO, to replace outgoing boss Richard Downey in the new year.
Flood Re issues broking tender for £10mn reinsurance contractGuy Carpenter’s five year relationship with UK government-backed Flood Re could come to an end, with news that the carrier is putting the renewal of its flood reinsurance program out to tender.
Starr takes Swiss Re’s Nawrath to launch German aviation unitStarr Insurance Companies has added Carsten Nawrath to its expanding aviation business, to lead the build out of a new operation in Munich, Germany.
Mapfre issues profit warning as pegs Japanese typhoons and Chile riots Eur140mnSpanish (re)insurance giant Mapfre has warned investors it will have to revise its 2019-2021 strategic plan as it expects to suffer losses as high as Eur140mn ($156mn) stemming from Japanese typhoons Faxai and Hagibis as well as recent disturbances in Chile.
Low interest rates will dent French P&C insurers’ 2020 profitability: Moody’sMoody’s has predicted French P&C insurers’ investment returns will decline by 20 to 40 basis points (bps) in the new year, reflecting a sharp fall in interest rates during the first nine months of 2019.
Aston Lark acquires Wright Insurance BrokersGoldman Sachs-backed Aston Lark has acquired Irish commercial broker Wright Insurance Brokers.
European businesses brace for challenging 2020: CNA HardyBusiness leaders based in Europe have identified cyber, regulatory compliance and economic risks as the top three concerns for 2020, with almost three quarters surveyed by CNA Hardy predicting a moderate to high risk trading environment in the new year.
Markerstudy and QIC agree loan restructure termsMarkerstudy has announced it is “business as usual” as the motor intermediary and parent Qatar Insurance Company agree repayment terms on a loan that rating agency S&P raised concerns over earlier this week.
Cooper Gay France acquires TMK EuropeCooper Gay France (CGF), the only Ed Broking arm to retain its predecessor brand, has agreed to acquire Tokio Marine Kiln Europe, TMK’s Belgium-headquartered service company.
London carriers set to swerve Eur1bn Dresden art robbery lossThe London fine art and specie market looks set to dodge material losses emanating from the robbery of one of Europe’s largest collections of art in the German city of Dresden today (25 November), The Insurer understands.
SureStone Ireland enters run-offIrish property and casualty insurer SureStone Insurance DAC has entered into run-off, The Insurer can reveal.
Müller to succeed Fischer Hirs as AGCS CEOAllianz Global Corporate & Specialty (AGCS) has named Joachim Müller as CEO, succeeding Chris Fischer Hirs who is to step down from the top job on 30 November 2019.
Analysts bullish on Zurich as firm takes aim at rivals with new 2022 targetsEquity analysts have praised Zurich over its new 2022 earnings targets as the European insurer takes aim at its continental rivals.
BoE encourages legal advice as ACPR pushes back on EIOPA Brexit recommendationThe Bank of England has advised the UK insurance sector to “seek legal advice” ahead of the UK’s exit from the EU after the French regulator rejected the European regulator’s recommendation on insuring UK policyholders living in France.
Lloyd’s sets sights on European business after Brexit: NealThe chief executive of Lloyd’s has set out plans to target more business on the continent following the UK’s departure from the European Union.
Talanx Q3 profit soars as turnaround programme gathers paceTalanx Group – which includes HDI Specialty and Hannover Re – has delivered a third quarter operating profit of Eur619mn ($682mn), up from the Eur259mn it reported in the third quarter of 2018.
Compre buys second AG Insurance legacy portfolioRun-off insurer Compre has agreed to purchase an inwards reinsurance portfolio from Belgian AG Insurance SA.
Allianz sees P&C third quarter operating profit fall by 10%Operating profit in Allianz’s property casualty insurance business segment fell by some 10 percent during the third quarter of 2019 to Eur1.3bn ($1.44bn) as improvements in the expense ratio and the accident year loss ratio were offset by a lower contribution from run-off.
Beazley extends online specialty platform to GermanyBlue chip insurer Beazley has launched its electronic trading platform – myBeazley – in Germany, allowing brokers to place management liability (ML), professional indemnity (PI) and cyber risks with the carrier.
Aon to redomicile parent company to Ireland from UKBroking giant Aon is to move the jurisdiction of the firm’s parent company from the United Kingdom to Ireland in order to remain in the European Union following Brexit.