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Brexit vote extends uncertainty for UK insurance sector

Uncertainty continues for the UK’s insurance industry after the government’s Brexit deal has been rejected yesterday (Jan. 15) in what is dubbed the biggest ever government defeat in history.   16 January 2019

Insurance

HDI hires Allianz talent as it creates new specialty unit

German industrial lines insurer HDI Global has hired a senior long-serving Allianz executive to fill the position of UK and Ireland managing director.   15 January 2019

Insurance

Brexit prompts AXA to move international risk and reinsurance jobs to Ireland

French insurer AXA plans to move its international risk and reinsurance operations from the UK to Ireland in preparation for Brexit, according to a Jan. 10 Reuters report.   11 January 2019

Alternative Risk Transfer

Global reinsurance capital decreased in Q3 2018 but ILS capacity up

Global reinsurance capital decreased in the third quarter of last year though the mix of capital available changed within this with alternative capital supplying a higher percentage of what was available to insurers, according to a report by Aon.   11 January 2019

Insurance

Arch expects up to $130m cat loss from Q4 events

Bermuda-based re/insurer Arch Capital Group has estimated pre-tax losses of $110 million to $130 million related to 2018 fourth quarter catastrophic events, primarily due to Hurricane Michael and the California wildfires.   11 January 2019

Insurance

Beazley boosts financial lines offering in Asia via new Pegasus partnership

Specialty insurer Beazley has partnered with Hong Kong-based coverholder Pegasus Underwriting (PUL) to expand its financial lines offering in Asia.   11 January 2019

Alternative Risk Transfer

PIMCO recruits Mt. Logan Re CEO to head up ILS push

Pacific Investment Management Company (PIMCO), the asset management company owned by Allianz, has recruited Rick Pagnani, the former chief executive of Everest Re’s sidecar Mt. Logan Re, as head of its ILS business.   11 January 2019

Insurance

Stonybrook Capital boosts team with former JLT Capital Markets execs

Stonybrook Capital, the investment bank focused on the insurance industry, has strengthened its executive team with two hires, one from JLT Capital Markets, and one promotion.   11 January 2019

Insurance

Premia acquires P/C insurer from Illinois Department of Insurance

Bermuda-based run-off specialist Premia Holdings has acquired an Illinois-based property/casualty insurer that was being managed by the Illinois Department of Insurance after being placed into rehabilitation in 2017.   11 January 2019

Insurance

Mapfre appoints new chief global brokers officer

Spanish re/insurer Mapfre has appointed Chris Smith as its new chief global brokers officer.   10 January 2019

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