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Insurance
The UK networks division of Arthur J. Gallagher (AJG), Compass Broker Services, has appointed Scott Bennett as UK sales director. 23 October 2014
Insurance
The profits of Swiss-based re/insurer Allied World nosedived in profits for the third quarter of 2014 as the company also revealed a repositioning its primary operations including some management changes. 23 October 2014
Insurance
Reinsurers should be happy for clients that are financially strong enough to retain more risk on their own balance sheets, said Charles Goldie, deputy chief executive officer of global non-life and head of specialty lines at PartnerRe. 22 October 2014
Insurance
For the January renewals cedants are placing an increased emphasis on their relationships with reinsurers, with more attention being placed on the finer details of the deal and the reinsurer’s ability to deliver on its promises. Pricing is not at the top of the agenda. That is the view of Peter Schmidt, CEO of Catlin Re Switzerland. 22 October 2014
Insurance
While it is definitely a buyer’s market at the moment, cedants in different regions are behaving differently in terms of their willingness to take advantage of the intense competition for business, said Frank Reichelt, managing director for Germany and the Nordics, Swiss Re. 22 October 2014
Insurance
If there is an opportunity to acquire or merge and the activity makes sense strategically, then companies should be open to the option of consolidation, says Gérald Kanis, chief reinsurance executive at Swiss insurer Helvetia, which recently acquired Nationale Suisse. 22 October 2014
Insurance
The results of reinsurers and insurers will diverge more in the future if other cedants follow the lead of some of the large insurers and only cede their more volatile business, Amer Ahmed, chief executive officer of Allianz Re, which is responsible for the group’s retrocession portfolio, told Baden-Baden Today. 22 October 2014
Insurance
The current reinsurance market is characterised by a tendency for cedants to retain more risk and to centralise their reinsurance purchasing, condensing all their needs across various lines and territories into one reinsurance programme. That is the view of Jacopo D’Antonio, managing director—Europe for Aspen Re. 22 October 2014
Insurance
The current soft market creates a window of opportunity for underwriters keen to take control of their own destiny by setting up a managing general agent (MGA). That is the view of John Holm, executive director, MGA Investments for international business process outsourcing and professional services company Capita. 22 October 2014
Insurance
Re/insurers must hold their nerve on price in the current market conditions and be prepared to shrink if needed, Tom Bolt, Lloyd’s director of performance management, told Baden-Baden Today. 22 October 2014
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