Allianz group's specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has added new global leadership positions in its alternative risk transfer (ART) and liability lines of business to help drive the expansion of its services.
Christchurch City Council is considering insurance-linked securities (ILS) to increase its insurance cover for underground assets such as water and waste pipes.
Allianz Global Corporate & Specialty (AGCS), Allianz group's specialist corporate insurer, will cease underwriting long tail risks in Australia and close its operations in New Zealand with effect from September 2019, following a "strategic review" of the business. The decision has led to the departure of its Pacific CEO Willem Van Wyk.
US insurer Liberty Mutual has renewed its Bermuda domiciled reinsurance sidecar Limestone Re at approximately $240 million, an overall lower target size than last year's $278 million due to a "revised portfolio composition".
Bermuda-based mortgage insurance provider Essent Group, a subsidiary of Essent Guaranty, has closed a $333.8 million reinsurance transaction and related mortgage insurance-linked notes offering.
Twelve Capital, an independent investment manager specialising in insurance with approximately $4 billion in assets under management, is expanding its product range for insurance-linked securities (ILS) investors, including cat bonds, collateralised reinsurance and multi-asset offering, across its target markets in Europe.
The development and growth of weather risk protection products, in response to increasing awareness of climate change, “feels like the early days of the catastrophe ILS market”, Nephila Climate chairman Barney Schauble has said.
Zurich-based catastrophe insurance data provider PERILS has acquired Canadian loss and exposure aggregation firm Catastrophe Indices & Quantification (CatIQ).
Artex Risk Solutions, a Bermuda-based global insurance management firm, has made a series of key appointments within its international division.
Aon Securities, the investment banking division of re/insurance broker Aon, has made two new strategic hires to help drive growth and innovation within its capital markets function.