US tax reforms prompt new James River Bermudian vehicleJames River Group has set-up a new subsidiary - Carolina Re - in response to tax reforms in the US passed by the Trump administration last December.
New Zealand regulator puts CBL into liquidationThe Reserve Bank of New Zealand has won a court order to place CBL Insurance into interim liquidation amid concerns about the adequacy of the construction specialist’s reserving practices.
Chinese authorities take over Anbang as chairman awaits prosecutionThe China Insurance Regulatory Commission (CIRC) has announced it has taken control of the country’s insurance giant Anbang as the company’s chairman An Xiaobohu faces prosecution for alleged “economic crimes”.
Swiss Re’s $400mn wildfire bill contributes to $1.2bn P&C lossSwiss Re has revealed that wildfires in California contributed to a full year catastrophe bill of $4.7bn, helping to push the group’s property and casualty operations to a $1.15bn loss for last year.
Enstar seals deal with Zurich for AUD$350mn legacy motor bookEnstar has entered an agreement with an Australian subsidiary of Zurich Insurance Group to reinsure its New South Wales motor vehicle compulsory third party (CTP) insurance business.
Marsh calls for public-private partnerships to drive cyber take-upPresident and CEO of Marsh John Doyle has urged the insurance market to work with governments to improve cyber products.
Cyber market ‘frustratingly immature’: BealeLloyd’s of London CEO Inga Beale has lambasted slow growth in the cyber insurance market and warned that the market risks not reaching its full potential.
Exin requests extension for EUR720mn Ethniki bid deadline: reportsMatt Fairfield’s Exin has written to the Greek regulator to request a 15 day extension for its deadline to line up backing for its proposed acquisition of state-owned carrier Ethniki as the company fights to secure funding for the deal.
Claims to be next priority for TOM initiativeThe London Market Group (LMG) has said that claims transformation will become the next focus for the Target Operating Model (TOM) in 2018.
Axa combined ratio falls to 94.6% as commercial lines improveFrench insurance giant Axa saw its combined ratio improve marginally by 40 basis points to 94.6 percent for 2017.
Alleghany smashes estimates as cat bill comes in lower than expectedAlleghany significantly outperformed expectations in the fourth quarter to deliver a $152.3mn profit that marked a 39.6 percent increase on the same period last year.
PartnerRe posts 99.3 percent 2017 combined ratioDespite $120mn in net losses from the Q4 California wildfires and over $100bn in industry-wide cat losses for the year, Bermudian reinsurer PartnerRe kept its combined ratio below 100 percent in 2017.
RSA’s UK unit clocks 102% combined ratio as it vows to bounce backRSA’s UK business reported a full-year combined ratio of 102 percent for 2017 as storms and domestic floods took their toll on the unit’s bottom line.
Scor escapes worst of Q4 painFrench reinsurer Scor appears to have avoided the worst of the fourth quarter losses after it posted an improved combined ratio of 91.6 percent in its P&C unit for the period.
Tysers delays dividend as Integro sale talks drag onIndependent London market broker Tysers has warned shareholders not to expect the year-end dividend to be distributed in February as sale talks with potential acquirer Integro drag on, re-Insurance.com has learned.
Greenlight Re weighing Lloyd’s syndicate launchCayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.
MGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.
Lloyd’s not ‘particularly proud’ of 28% gender pay gapFemales working at Lloyd’s of London on average earn 27.7 percent less than their male counterparts, the Corporation has said as it released its gender pay gap figures today (21 February).
Wildfires push Greenlight Re to $19.7mn Q4 underwriting lossCayman Islands-based reinsurer Greenlight Re has fallen to a $19.7mn underwriting loss for the fourth quarter as losses from the California wildfires dealt the carrier a $4.7mn blow.
Chicken joined by more hires in BMS’s new energy divisionLondon market wholesaler BMS has made two further appointments in its newly-formed primary market energy division.