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Allianz alternative risk transfer head departs after 15 years; successor named

North America20-11-2017Alternative risk transfer news, Insurance news, Reinsurance news, Specialty

Allianz Global Corporate & Specialty (AGCS) has appointed Paul Schiavone as global head of its alternative risk transfer (ART) business, taking over from Bill Guffey who is leaving after 15 years to pursue opportunities outside the company.

XL Catlin names Coface hire as new country manager for Germany

Europe20-11-2017Insurance news, Reinsurance news

XL Catlin’s insurance operation has appointed of Thomas Götting as country manager for Germany.

Aspen expects rate increases of up to 20%

North America20-11-2017Insurance news, Property cat, Reinsurance news, Specialty

Bermuda-based specialty re/insurer Aspen is expecting significant rate increases of up to 20 percent in some business areas.

Epsilon appoints head of new accident and health division from Beazley

Australasia20-11-2017Insurance news, Specialty

Australia-based cover holder Epsilon Underwriting Agency is forming a new accident and health division under the leadership of Tim Curling.

Hiscox appoints NA head of business development from Lloyd’s

North America20-11-2017Insurance news, Specialty

Specialist global insurer Hiscox has appointed Glenn Dorr as head of business development and broker relationships, North America, within its London Market business.

Saudi insurance market faces consolidation

Middle East20-11-2017Insurance news

Tightening solvency requirements are likely to drive consolidation in the Saudi Arabian insurance market in the next few years as weaker companies merge with stronger rivals, according to a Fitch Ratings report.

North P&I Club creates Brexit unit in Ireland

Europe20-11-2017Insurance news, Specialty

The board of directors of North and Sunderland Marine has agreed that a subsidiary insurance company should be established in Ireland to underwrite all future European Economic Area (EEA) business with effect from Feb. 20, 2019.

Citizens records $1bn net loss in nine months

North America20-11-2017Insurance news, Property cat

Citizens Property Insurance Corporation posted a net loss of $944.2 million for the period between January and September 2017.

Hurricanes flatten Sompo results

Asia Pacific, Global, North America20-11-2017Insurance news, Property cat, Reinsurance news

Hurricanes in North America have reduced Sompo’s consolidated net profit to ¥1.9 billion ($20 million) in the six months ended Sept. 30 (first half of Sompo’s financial year) compared to ¥43.4 billion in the same period a year ago.

MS Amlin records $780m nat cat losses

London20-11-2017Insurance news, Property cat, Reinsurance news

MS Amlin has recorded ¥87.4 billion ($780 million) in nat cat losses including hurricanes Harvey, Irma and Maria as well as earthquakes in Mexico.

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