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Insurance
XL Group estimates that its net losses relating to natural catastrophes in the fourth quarter of 2016 will be approximately $245 million. 10 January 2017
Insurance
CCR, the French government backed reinsurer, has now formally unbundled its open market reinsurance activities into its new subsidiary CCR Re, which commenced operations on January, 2017. 9 January 2017
Insurance
Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has launched an underwriting cell of Vecta Risk Partners to target accident & health (A&H), travel and lifestyle insurance business across the UK and European economic area (EEA). 9 January 2017
Insurance
Credit and financial risk re/insurer CBL Corporation has completed its NZ$150 million ($104.4 million) strategic acquisition of Securities and Financial Solutions (SFS) and its claims management operation IMS Expert Europe (IMS). 9 January 2017
Insurance
While rates continue to remain low and the sector overcapitalised, the conditions of the global reinsurance market appear to be stabilising, according to AM Best. 9 January 2017
Insurance
Substantial and high-profile security breaches in recent years, combined with the general fear factor that has arisen from the threat of cyber-attacks, are combining to lead to a huge surge in demand for cyber insurance in the US, UK and Europe that will continue well into 2017, reports and experts indicate. 9 January 2017
News
The new Russian National Reinsurance Company has increased pressure on Western markets already challenged by the international sanctions regime with international reinsurers already losing a significant amount of business as a result. 9 January 2017
Insurance
AM Best has assigned a Financial Strength Rating of A (Excellent) to Covéa Coopérations (France), the holding company of société de groupe d’assurance mutuelle (SGAM) Covéa, a mutual insurance group in France. The rating’s outlook is stable. 6 January 2017
Insurance
Zurich Insurance has confirmed that its head of group strategy Claudio Gienal has left the company in December last year, and Giovanni Giuliani, the head of group innovation, business development and global lines has taken over his responsibilities. 5 January 2017
Insurance
Natural catastrophe losses totaling $175 billion have made 2016 the costliest year since 2012, with 30 percent – or $50 billion – of the losses insured, according to a report from Munich Re. 4 January 2017
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