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Insurance
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has begun underwriting fine art and specie in France with the appointment of Stéphanie de Montricher as senior underwriter. 19 March 2018
Insurance
The Talanx Group, which includes Hannover Re, is aiming for a net income of around €850 million in 2018 and an increase in gross premiums (adjusted for currency effects) of more than 2.0 percent. 19 March 2018
Insurance
XL Catlin’s London-based insurance operations have introduced a contract continuity clause which addresses the risk that contracts written prior to Brexit may become impermissible assuming passporting rights are lost as a consequence of the UK leaving the EU. 19 March 2018
Alternative Risk Transfer
Italian insurer Generali is taking advantage of more attractive conditions in the insurance-linked securities (ILS) market for windstorm reinsurance protection. 19 March 2018
Insurance
The uncertainty caused by Brexit is affecting negotiations for insurance contracts that span periods of more than three years. 16 March 2018
Insurance
S&P Global Ratings has downgraded UK-based multiline insurance group Prudential by one notch due to the company’s demerger plan while downgrading the UK operations by two notches. 16 March 2018
Insurance
Financial services may not be included in a Brexit deal between the EU and the UK which, at best, may increase operational costs for insurers, but in a worst-case scenario may reduce the UK-based firms’ access to EU customers. Intelligent Insurer reports. 16 March 2018
News
Munich Re will cut costs in the reinsurance operations and in the group functions through staff reduction to improve profitability. 15 March 2018
Insurance
In one of the first tangible instances of uncertainty over the UK’s exit from the European Union influencing insurers’ strategies in a negative way, a UK-based specialist motor insurer has announced it will cease trading in the Republic of Ireland because of uncertainty passporting arrangements will remain post Brexit. 15 March 2018
News
Munich Re is expecting to generate a profit of between €2.1 billion and €2.5 billion in 2018. This slightly exceeds the guidance that the company had projected for 2017, which was initially set at between €2.0 billion and 2.4 billion. 15 March 2018
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