Cooper Gay and Newman Martin and Buchan (NMB) have appointed a new chief executive of the firms’ combined reinsurance business following the resignation of the previous CEO.
US insurer Assurant, a sophisticated and large buyer of catastrophe protection for US risks, has revealed multiple enhancements to its reinsurance programme as it leverages both lower traditional reinsurance rates and the healthy appetite of cat bond investors.
Infinity Agency, the specialist high net worth motor underwriting agency, has appointed Tony Clayton, Shaun Grainger and Mike Staines as business development managers.
Walsh PI, the adjusting division of Triton Global, a commercial claims organisation, has been rebranded as Triton Adjusting.
The insurance industry is following the progress of Typhoon Neoguri, the strongest typhoon to date in 2014, with interest as it roars toward the Japanese coastline.
Guy Carpenter is the latest authority to confirm softening in the reinsurance market, as it reported that “market pressures at July 1 renewals continued to drive price decreases across virtually all geographies and lines of business, many in the double digit range.”
American International Group (AIG) would divest parts of its business and halt policy sales if it got into financial trouble again to avoid having to seek a second public bail out.
An EU-wide compulsory environmental liability insurance system would not benefit customers and so should not be introduced, according to Insurance Europe, the European insurance and reinsurance federation.
Arch Capital has made a number of promotions in its reinsurance group to support the recent expansion of the company’s mortgage insurance and reinsurance operations.
Swiss insurer Helvetia has agreed to buy Nationale Suisse to create a new Swiss insurance group with a profit potential of more than SFr500 million ($559 million).