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Australia’s terrorism insurance scheme administrator, Australian Reinsurance Pool Corporation, has increased the private participation in retrocession reinsurance cover at renewals for 2018. 1 March 2018
Insurance
Azur, a managing digital agent (MDA) specialising in the UK’s high net worth insurance market, has launched a new insurance product designed for car collectors. 1 March 2018
Insurance
American International Group (AIG) has been loss-making for the last two years, but the reported 2017 net loss of $6.08 billion hides improvements on the operating side as a more in-depth look into the numbers reveals and CEO Brian Duperreault is working on getting the insurance giant back on a growth path. A changed reinsurance cover structure is also part of the plan. 22 February 2018
Insurance
XL Group CEO Michael McGavick said that he is not surprised that there is speculation about a potential takeover of XL Group by other market players. 14 February 2018
Insurance
The combination of continued competitive pressures, the effects of US tax reform and catastrophe losses in 2017 is leading to speculation of more mergers and acquisitions (M&A) among re/insurers in 2018, especially in the Bermuda market, says Fitch Ratings. 12 February 2018
Insurance
American International Group (AIG) reported a net loss of $6.66 billion for the fourth quarter of 2017, compared to a net loss of $3.04 billion in the prior-year quarter. 9 February 2018
Insurance
Shares of Bermuda-based insurer XL Group jumped following news that it is attracting interest from rivals including Allianz of Germany. 8 February 2018
Insurance
Validus Specialty has launched a standalone cyber insurance product, focused on privacy and network protection coverage, to further expand its offering and meet a growing demand. 6 February 2018
Insurance
After an unusually tough 2017, Munich Re is facing tailwinds from increasing prices on the back of high catastrophe losses from hurricanes Harvey, Irma and Maria, as well as climbing interest rates. 6 February 2018
Insurance
Re/insurer XL Catlin has promoted Mike MacColl to the position of global practice leader for hull. Previously, MacColl held the role of head of hull for the UK. 6 February 2018
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