While there is a sense of cautious optimism around the reforms revealed by Lloyd’s this week, a majority of market participants believe they will not be enough to adequately change the market.
A subsidiary of Enstar Group has entered into a conditional agreement with a subsidiary of QBE Insurance Group to reinsure US multi-line property/casualty business.
The Credit Guarantee and Investment Facility (CGIF), an organisation that provides credit guarantees for local currency denominated bonds issued by companies from a range of countries in mainly South East Asia, has completed its first reinsurance deal in a move that will free up capacity to issue more guarantees.
Marsh & McLennan Agency (MMA), the middle market agency subsidiary of Marsh, has acquired Ohio-based employee benefits consulting firm Benefits Resource Group (BRG).
The Hanover Insurance Group has appointed former Morgan Stanley Group and Credit Suisse Group executive Jane Carlin to its board of directors.
The insured property losses caused by series of earthquakes that hit Central Italy between in October are now estimated to be €31 million, according to catastrophe insurance data provider PERILS.
Iowa Insurance Commissioner Nick Gerhart has stepped down, effective December 23. He will be replaced by deputy commissioner Doug Ommen on interim basis.
A new state-backed reinsurer in Russia will hit the long-term growth potential of global reinsurers in the country, which will be forced to cede a percent of premium to the new entity even on existing long-term treaties.
African Reinsurance Corporation (Africa Re) said the depreciation of its main operating currencies combined with losses in Ghana and Nigeria has led to it being a challenging year for the company, in its third quarter results.
United Insurance Holdings (UPC), a property/casualty insurance holding company, has raised $30 million through an offering of senior notes to private investors.