NewsLossesAIR pegs Maria losses at $27bn-$48bnAIR Worldwide has dramatically reduced its loss estimates for Hurricane Maria to $27bn-$48bn.Thu 7 Dec 2017
NewsPeople MovesAon Benfield bolsters credit and financial risk team with new hireAon Benfield has swooped on Liberty Specialty Markets for Rupert Evans to strengthen its credit and financial risks team, Reinsurance understands. Thu 7 Dec 2017
NewsLegal/ RegulatoryFCA issues RFIs to London brokers following wholesale reviewUK regulator, The Financial Conduct Authority (FCA), has yesterday (4 December) issued a request for information (RFI) to brokers across the London market as it progresses with its study into how competition is working in the London wholesale market, Reinsurance can reveal.Tue 5 Dec 2017
NewsLossesMapfre books $1.3bn gross cat losses in Q3Spanish (re)insurer Mapfre has posted gross cat losses of $1.3bn (€1.1bn) in the third quarter.Mon 4 Dec 2017
NewsPeople MovesIngrid Carlou steps down as CEO of Patria ReThe CEO of Mexican reinsurer Patria Re, Ingrid Carlou is to step down with immediate effect.Mon 4 Dec 2017
NewsLegal/ RegulatoryLloyd’s insurer Neon files $60mn UK ILS application with PRAThe first application for a UK insurance linked securities (ILS) transaction has been filed with the Prudential Regulation Authority (PRA) on behalf of the Lloyd’s (re)insurance group Neon, Reinsurance can reveal.Mon 4 Dec 2017
NewsPeople MovesNeon appoints Novae’s Overton to new head of pricing roleExpansive Lloyd’s insurer Neon has continued its strategy of transforming its executive team by recruiting Tim Overton to the newly created role of head of pricing.Mon 4 Dec 2017
NewsFormer Tokio Millennium CEO in bid to launch $1bn Bermuda reinsurerFormer Tokio Millennium Re chief executive Tatsuhiko (Tats) Hoshina is looking to raise up to $1bn to launch a new Bermudian reinsurance platform, Reinsurance can reveal.Mon 4 Dec 2017
NewsLegal/ RegulatoryFCA issues RFIs to London brokers following wholesale reviewUK regulator, The Financial Conduct Authority (FCA), has yesterday (4 December) issued a request for information (RFI) to brokers across the London market as it progresses with its study into how competition is working in the London wholesale market, Reinsurance can reveal.Mon 4 Dec 2017
NewsLegacyR&Q completes exit from live Lloyd’s business with $22.6mn saleListed insurance group R&Q has now completed its exit from live underwriting at Lloyd’s following the completion of its $22.6mn managing agency sale to the US medical insurer, Coverys.Fri 1 Dec 2017
NewsLegal/ RegulatoryLondon market welcomes UK ILS legislation changeThe London (re)insurance market has welcomed the changes to the UK legislation that enable insurance linked securities (ILS) transactions to be constructed onshore in a tax-efficient manner.Thu 30 Nov 2017
TV VideoJustin Davies on the potential of blockchainJustin Davies, Vice President, Xceedance, talking to retv on the potential for insurers of blockchain, investing with ChainThat, and innovations in the insurtech market.Thu 30 Nov 2017
TV VideoDavid Edwards on blockchainDavid Edwards, CEO, ChainThat, talking to retv on how ChainThats blockchain technology can help deliver solutions across the re/insurance sector.Thu 30 Nov 2017
NewsLegal/ RegulatoryD-day finally looms for London market ILS legislationAfter two long years of consultation with the regulators and the UK government, the London market will discover later today whether a parliamentary committee will agree to the legislation that will allow for a new tax-friendly regime for constructing insurance linked securities (ILS) business in the UK.Wed 29 Nov 2017
NewsLegal/ RegulatoryUK Parliament approves ILS legislationThe UK Parliament has unanimously agreed legislation change to enable a tax-friendly onshore regime for insurance-linked securities (ILS) business, after a prolonged 2+ years of consultation and negotiation with the London insurance market and UK regulators.Wed 29 Nov 2017
NewsM&ASirius to take $720mn majority stake in Israeli insurer PhoenixSirius International has agreed terms with the Israeli business magnate Yitzhak Tshuva to acquire his controlling stake in The Phoenix Holdings in a move that may also be a litmus test for Chinese investment in the country’s insurance markets.Mon 27 Nov 2017