Rating agency Fitch Ratings has upgraded Lloyd's of London's (Lloyd's) financial strength and creditworthiness, as it expects the insurer to deliver stronger underwriting performance.
US insurer Travelers has made a number of new appointments following the departure of Bill Cunningham, who served as executive vice president, business insurance.
BMS Group has added new automated storm reporting capabilities to its catastrophe risk management system iVision.
Hannover Re has assumed £1.6 billion (€2 billion) of pension liabilities in cooperation with UK-based Pension Insurance Corporation.
American International Group (AIG) has appointed Peter Hancock as president and chief executive officer (CEO) from September 1. He succeeds Robert Benmosche.
Specialty insurer Torus has appointed Jaap Gispen, formerly of Marsh Netherlands, as branch manager, Rotterdam, to lead the company’s Netherlands-based operations.
Insurance services firm Charles Taylor has appointed Mark Keogh as group chief financial officer (CFO). He succeeds Tito Soso, who leaves in August.
The amount of reinsurance ceded offshore by US insurers increased again in 2013 with Bermuda the most common domicile for offshore reinsurers used. Proportionally, the usage of unaffiliated reinsurers by US insurers also increased more.
Jardine Lloyd Thompson Capital Markets (JLTCM), part of JLT Towers Re, has closed a $44 million private placement catastrophe bond.
Catastrophe risk management firm RMS has expanded its Asia Pacific presence with a new Singapore office.