Motor insurer ERS has blamed lower than expected investment income and one-off transformation costs for losses made in the first half of 2015.
Abbey Bond Lovis, a broker based in Northern Ireland, has completed a management buyout (MBO) backed by insurance investment vehicle, Global Risk Partners.
Law firm Locke Lord has appointed Alfred Bottalico, formerly the deputy commissioner for the financial surveillance branch of the California Department of Insurance, as an insurance specialist its Los Angeles Regulatory & Transactional Insurance Practice Group.
What was formerly the Caribbean Catastrophe Risk Insurance Facility (but has since been rebranded the CCRIF SPC) paid out $3.4 million to three member governments under its excess rainfall coverage last year – a policy only introduced that year.
UnipolSai Assicurazioni, the insurance arm of the Italian Unipol Group, has completed the first insurance-linked security (ILS) to cover earthquake risk in Italy. The deal is also the insurer’s first cat bond of any type.
Insurer ACE has appointed Jana Dünkeloh as financial lines manager in Germany, responsible for the growth of ACE’s financial lines portfolio in Germany and Austria.
Broker Integro has strengthened its aviation expertise with the acquisition of AFL Insurance Brokers’ aviation division.
Torus US has appointed Norman Brown as chief executive officer (CEO), replacing interim CEO John Shettle.
The Prudential Regulation Authority (PRA) has revealed the ways in which it will hold senior insurance managers accountable under a new regime.
Re/insurer International General Insurance (IGI), a Dubai-based insurance group with operations in Bermuda and London, reported a fall in profits and gross written premiums (GWP) in the first half of 2015.