General insurers are in danger of ignoring a key facet of Solvency II compliance: the requirement of an actuarial function.
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.
The chief executive and founder of broker Integro has left the business amid a reshuffle in which a new chairman has also been appointed.
Insurer Markel UK has appointed Liam Greene, formerly of Hiscox, as professional and management risk underwriting manager.
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.
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, the reinsurance unit of Spanish insurer Mapfre, helped boost the results of its parent in the first quarter of 2014.
Hamilton Insurance Group has appointed Keith Bernhard, formerly of Markel, as head of internal audit.
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.
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.