Articles
Insurance
The total financial cost, including business interruption, of Storm Emma, which affected a large area of Europe during the second half of February, could reach hundreds of millions dollars – though the figure will very likely be higher, with a high volume of filed insurance claims reported. 9 March 2018
Insurance
Fitch Ratings has placed the ratings of XLIT (XL, a Cayman Islands subsidiary of XL Group) and its property/casualty re/insurance subsidiaries on Rating Watch Positive from Negative Outlook following the planned acquisition by AXA. 7 March 2018
Insurance
Fitch Ratings has threatened to downgrade AXA following the plan to acquire XL Group due to financing risks related to the planned IPO of AXA’s US subsidiary. 7 March 2018
Insurance
Investors were potentially spooked by AXA’s announcement yesterday (March 5) that it will acquire XL Group for $15.3 billion. Its share price fell sharply by around 10 percent as investors worried on a fundamental shift in strategy, according to analysts. 6 March 2018
Insurance
Bermuda-based property /casualty re/insurer Sompo International has unveiled plans to launch a new European specialty insurance underwriting operation in Barcelona run by two senior executives it has hired. 6 March 2018
Insurance
The insured property market losses from extratropical cyclone Zeus, which primarily affected France on 6 and 7 March 2017, has reached €272 million, according to Zurich-based catastrophe insurance data provider PERILS. 6 March 2018
Insurance
AXA’s business mix will fundamentally change once its acquisition of XL Group is completed. Property/casualty (P&C) business will represent half its book of business as it diversifies away from being mainly a life & savings insurer. 5 March 2018
Insurance
XL Group hopes that being owned by AXA will help open up new markets for its specialty products, Gregory Hendrick, XL president, property & casualty, said on a March 5 presentation on the deal. 5 March 2018
Insurance
One of AXA’s many motives in buying XL Group is the reinsurance portfolio it comes with, which will offer further diversification, and also the access to the capital markets that now comes hand in hand with this. 5 March 2018
Insurance
Czech Republic-based reinsurer VIG Re has realigned its organisational structure and management responsibilities. The changes, which it claims will drive “operational efficiencies”, are effective from April 1, 2018. 5 March 2018
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