Flood Re, the UK Government’s scheme to pool flood risk, may face higher-than-expected claims in the future, as spending on flood defences fails to meet requirements says Fitch Ratings.
Howden Broking Group, part of Hyperion Insurance Group, will acquire NMB Colombia Corredores de Reaseguros SA, a reinsurance broker located in Bogota.
Insurance investment manager, CATCo has launched Aquilo, the firm's first fund pursuing a traditional reinsurance investment strategy.
Covéa Insurance has strengthened its Personal Lines distribution team with the appointment of two new key account managers, both formerly of Zurich Insurance.
Target Group, the financial services outsourcing and software provider, has appointed a Risk and Compliance director. Terry Baxter joins from Grant Thornton.
Broker Miller Insurance has bolstered its marine hull business production, broking and account handling capabilities with the appointments of Heather Clarkson and Rick Kerr, both formerly of Aon.
Flight MH370, the vanishing Malaysian Airlines flight, may cost insurers up to $600 million, Credit Suisse has reported.
Dubai’s International General Insurance Holdings (IGIH) reported a 24 percent increase in profits of $31.3 million in 2013 compared with $25.3 in 2012.
JLT Towers Re Bermuda has launched its newly combined operations following the merger of JLT Re Bermuda and Towers Watson Re Bermuda.
Insurers could face rating downgrades with the renewal of the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA), according to a report by rating agency Standard & Poor’s (S&P).