The “above average” approach to risk management from the Middle East’s energy sector may result in better rates and capacity in the insurance market, according to research by Marsh.
Warren Buffett, chairman and chief executive of Berkshire Hathaway has cut most of the company’s catastrophe insurance business in the US, stating a decrease in interest rates as the reason.
2013 proved to be a weak year for deal flow in the insurance industry—particularly in risk-bearing sectors, according to a new study by Conning, with transaction numbers down 6.7percent compared with 2012 and the aggregate deal values down 55.3 percent.
American International Group is nominating a former head of Fixed Income at BlackRock who also boasts experience with financial regulators in the US and the UK to sit on its board.
The US Senate has cleared a bill which will prevent the proposed flood-insurance premium increases for areas including Florida, Louisiana and New Jersey, which could have seen home owners face a 25 percent rate increase annually.
US insurer St. Johns Insurance has appointed Hugh Brewer to the board of directors.
Insurance broker Lockton has expanded its Real Estate and Construction (REAC) team with the appointment of a claims consultant and client executive, bringing the total number in the team to 71.
Law firm Kennedys has strengthened its international corporate insurance practice with the appointment of Michael Skrbic as a partner in the London office.
RGA Reinsurance Company (RGA) has gained its 50th client for its electronic underwriting solution, Automated Underwriting and Risk Analysis (AURA).
The formation of the Association of Southeast Asian Nations (ASEAN) Economic Community will present significant opportunities for independent insurance brokers in 2015 said Brokerslink Chairman, José Fonseca speaking at the Brokerslink Asia Pacific regional conference.