Articles
Alternative Risk Transfer
The protected cell company concept is now used in the financial services world as an alternative application for the structuring of many different types of products, says Dominic Wheatley, chief executive of Guernsey Finance. 23 February 2017
Insurance
Bermuda-based XL Group has appointed global corporate controller Stephen Robb as the new chief financial officer (CFO), succeeding Peter Porrino, who is set to retire in May 2017. 23 February 2017
Alternative Risk Transfer
Weston Hicks, the president of Alleghany Corporation, which owns TransRe, has said that cracks are starting to appear in the foundations of the property/casualty industry and stressed that the so-called alternative reinsurance markets remain untested in the aftermath of a big loss warning that the industry may have created a monster. 23 February 2017
Insurance
TransRe enjoyed strong growth in 2016 but this was largely driven by a one-off whole account quota share transaction and Alleghany Corporation, its parent company, stressed that it remains highly selective in the reinsurance treaties that it writes. 23 February 2017
Insurance
Property/casualty insurer Chubb has made two senior management appointments in Europe, in its global accounts division. Suresh Krishnan and Tina Lakickas will assume their new roles from March. 23 February 2017
Insurance
Specialist managing general agent (MGA) Ascent Underwriting has appointed Ben Wilson as healthcare underwriter with immediate effect. 23 February 2017
Insurance
The former chief financial officer Rory O’Connor and two former actuaries of RSA Insurance Ireland have admitted misconduct and agreed to fines and other sanctions following the conclusion of the Financial Reporting Council’s (FRC) investigation into financial irregularities at the company in respect of the year ended 31 December 2012 and relevant prior periods. 22 February 2017
Insurance
French reinsurer SCOR is sitting on a pile of excess capital worth as much as €200 million and could end up with the same amount again if a reorganisation of its different legal entities goes to plan. 22 February 2017
Insurance
Profits dipped at SCOR in 2016 in what was an otherwise solid set of results for the French reinsurer, which continued to grow largely thanks to contributions from its Global Life unit while its Global P&C business also expanded its footprint in the US. 22 February 2017
Insurance
Net realised and unrealised gains on investments were the biggest influencing factor on PartnerRe's 2016 results, helping the reinsurer to a big increase in its profits as its book shrunk slightly. 22 February 2017
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