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Insurers must comply with Solvency II

Europe07-05-2014Insurance news

General insurers are in danger of ignoring a key facet of Solvency II compliance: the requirement of an actuarial function.

XL forms unit in anticipation of more M&A

Europe, North America07-05-2014Insurance news, Reinsurance News

Re/insurer XL Group has added a mergers and acquisitions (M&A) insurance division to its financial lines business in anticipation of a rise in M&A activity.

Integro founder steps aside amid reshuffle

North America07-05-2014Insurance news

The chief executive and founder of broker Integro has left the business amid a reshuffle in which a new chairman has also been appointed.

Markel hires Hiscox underwriter

Europe07-05-2014Insurance news

Insurer Markel UK has appointed Liam Greene, formerly of Hiscox, as professional and management risk underwriting manager.

Aspen appoints energy SVP from Liberty

Latin America, North America07-05-2014Insurance news

Aspen US, part of the insurance segment of Aspen Insurance, has appointed a senior vice president of energy and construction, to support the growing demand for energy risk expertise in Latin America.

Hiscox Re shrinks on back of softening rates

Bermuda, Europe, North America07-05-2014Insurance news, Reinsurance News

Re/insurer Hiscox said it is seeking growth in commercial lines as Hiscox Re, its reinsurance division, shrunk under considerable market pressure in the first quarter.

Mapfre Re boosts results of parent

Europe07-05-2014Insurance news, Reinsurance News

Mapfre Re, the reinsurance unit of Spanish insurer Mapfre, helped boost the results of its parent in the first quarter of 2014.

Hamilton appoints internal audit head

North America06-05-2014Insurance news

Hamilton Insurance Group has appointed Keith Bernhard, formerly of Markel, as head of internal audit.

P/C cat losses contribute to Q1 profit decline at AIG

North America06-05-2014Insurance news

A mixture of higher catastrophe losses, unfavorable loss reserve development, and a decrease in net investment income in its property/casualty unit contributed to a slip in profits at American International Group (AIG) in the first quarter of 2014.

Reinsurance fluctuations hit Berkshire Hathaway Q1 profits

North America06-05-2014Insurance news, Reinsurance News

Fluctuations in the profitably of its reinsurance businesses contributed to a drop in earnings at Berkshire Hathaway’s first quarter results. Its unit Berkshire Hathaway Reinsurance Group in particular saw a severe fall in its pre-tax profits due to fluctuations in currency exchange rates and one off deals in the first quarter last year.

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