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Reinsurance
Insurers in the MENA region need to change the way they write business if they wish to remain viable clients for their local reinsurers. Intelligent Insurer spoke to Michael Gertsch, chief executive officer at Dubai-based reinsurer Gulf Re, about the need for change in this growing market. 16 April 2013
Insurance
Antares has revealed positive results for its syndicate 1274 for 2012, despite noting that both the most expensive ever marine loss for insurers and one of the most expensive storm events ever, happened last year. 10 April 2013
Insurance
New proposed capital requirements under Solvency II will force re/insurers to both reassess their strategic priorities – potentially placing non-core business into run-off – while also selling discontinued books of businesses to specialist third parties. 9 April 2013
Insurance
Miller has appointed senior executives into its corporate risks and reinsurance teams. 27 March 2013
Insurance
XL Group’s North America Marine insurance business has launched a new product that will cater for the particular needs of individual yacht owners. ShipShape, a suite of recreational marine coverages, will offer limits of up to $50 million to cover risks including liability coverage, defence costs outside the liability limit, medical payments for crew and a veterinary service for pets. 27 March 2013
News
Hamburger Internationale Rückversicherung AG (HIR), part of Tawa Plc, has acquired Lower Insurance AG’s reinsurance portfolio, which contains predominantly liability and marine contracts in run-off. 27 March 2013
Insurance
Lloyd’s of London has announced a profit of £2.77bn for 2012, marking a return to profit following last year’s loss of £516m, which was the costliest year on record for natural catastrophes. 27 March 2013
Insurance
Germany insurer Allianz has revealed an extensive investment programme to boost its presence across Africa. It has hired five new senior executives in the continent since the start of 2013 and the company is targeting Sub-Saharan Africa in particular, where it anticipates strong growth. 18 March 2013
News
Two of Europe’s biggest reinsurers – Hannover Re and SCOR – have posted solid results for 2012 benefiting from rate increases on the back of the heavy catastrophe losses of 2011 and a relatively benign loss environment in 2012. 7 March 2013
Insurance
Risk Management Solutions (RMS) has made Paul Dali chairman of its board of directors. Dali, a venture capitalist who has previously backed a number of highly successful technology companies, had already served as an advisor to the board for the past year. In addition to Dali, Dr Gerald Held, a corporate director on numerous technology company boards and a former Silicon Valley software executive, joins the RMS board as an independent director. And Dominique Trempont, an executive and board member with a focus on cloud and new media, also joins the board. 6 March 2013
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