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Insurance
Cape, a UK-based manufacturer of industrial materials, has agreed to pay a £52.5 million product liability settlement to three insurers relating to litigation over the carriers' historic employers' liability exposures, however, Cape has not admitted any liability, describing the settlement as "removing the distraction of a likely protracted appeals process". 14 March 2017
Insurance
Talbot Underwriting, a subsidiary of Bermuda-based Validus Holdings, has promoted David Morris to the position of active underwriter. 2 March 2017
Insurance
Validus Specialty, a subsidiary of Bermuda-based Validus Holdings, has appointed a new team of US-based cyber underwriters, comprising Jackie Lee and Mary Spicer, from the commercial errors and omissions (E&O), cyber division of Nationwide Insurance. 23 February 2017
Insurance
Jay Nichols has resigned from his position of CEO of AXIS Re, a subsidiary of Bermuda-based AXIS Capital Holdings. He has been replaced by Jan Ekberg on interim basis. 14 February 2017
Insurance
Former AIG boss Maurice “Hank” Greenberg, along with former chief financial officer Howard Smith, have agreed to settle a 12-year old $9 million securities fraud case. 13 February 2017
Insurance
A likely reduction in the UK's Ogden discount rate in February 2017 would result in higher costs for claims settled as a lump sum, Fitch Ratings said. 13 February 2017
News
Sompo Canopius Re has appointed Christopher Gray as the head of protection and indemnity (P&I) reinsurance, effective immediately. 13 February 2017
Insurance
US health insurer Anthem is appealing against the Department of Justice’s decision to block the proposed merger with its rival Cigna but analysts see little chance of success. Instead, Cigna may look for other potential acquisitions to grow. 13 February 2017
Insurance
Former Flood Re CEO Brendan McCafferty has taken up his new role as CEO for intermediated and direct at AXA. 13 February 2017
Insurance
Cincinnati Insurance Companies has renewed its Skyline Re catastrophe bond as a private placement and expanded its indemnity-based collateralised reinsurance coverage by raising $180 million with the help of JLT Capital Markets (JLTCM). 13 February 2017
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