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Insurance
Accountancy firm KPMG has expressed concerns over consultation papers released by the European Insurance and Occupational Pensions Authority (EIOPA) which the regular proposes should be adopted by national supervisors from January 1, 2014. 3 April 2013
Insurance
Global growth equity firm General Atlantic has bought a 30 per cent stake in Hyperion Insurance Group, the international intermediary. The deal values the company at an equity value of £250 million. 3 April 2013
Insurance
The latest delay to the implementation date of Solvency II, which many now not come into force until January 2016, represents welcome breathing space for many insurers and reinsurers yet to make firm decisions on how to deal with legacy business and run-off portfolios. 3 April 2013
News
The acceleration of new money from the capital markets flowing into the reinsurance industry is starting to concern some players worried it could hamper their own growth aspirations.
That is the view of Willis Re’s most senior executives in a renewals report that also deta 2 April 2013
News
Swiss Re has settled its dispute with Berkshire Hathaway over a life retrocession agreement which was concluded in 2010. The Swiss reinsurer has agreed to recapture certain treaties while Berkshire Hathaway will make a payment of $610 million to Swiss Re. 28 March 2013
Insurance
Argo International, the Lloyd’s insurer and member of Argo Group, has appointed James McPartland as an underwriter in its professional indemnity team. He takes up his new position with immediate effect and will report to Ryan Barnes, class underwriter. 27 March 2013
Insurance
Towers Watson has appointed two veteran industry specialists to lead its crisis management business. Paul Bassett will be managing director of the firm’s global crisis management group, and Justin Priestley will head its crisis management consulting practice within that group. Both will be based in London. 27 March 2013
News
Argenta Syndicate Management, a subsidiary of Argenta Holdings, has appointed David Thompson to the new role of head of claims and reinsurance operations, following the company’s decision to combine both departments into a single division. He will report to Paul Hunt, underwriting director. 27 March 2013
Insurance
Miller has appointed senior executives into its corporate risks and reinsurance teams. 27 March 2013
Insurance
UK regulator the Financial Services Authority (FSA) has fined UK insurer the Prudential Group £30 million for its actions in relation to its failed attempt to acquire AIA, the Asian subsidiary of AIG, in early 2010. The FSA has also censured Tidjane Thiam, Prudential’s group chief executive. 27 March 2013
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