Enstar Group, a Bermuda company that acquires and manages insurance and reinsurance companies in run-off, has agreed to acquire Atrium Underwriting Group and Arden Reinsurance Company.
Carsten Prussog, currently head of reinsurance development at Munich Re, will become president of the specialty markets division of Munich Re's US property/casualty reinsurance subsidiary, Munich Re America.
AXIS Capital Holdings – the Bermuda-based re/insurer – has appointed Ben Rubin as executive vice president, Capital Markets at AXIS Re, effective 8 July.
Michael McGavick, chief executive officer of XL Group, has been appointed as chairman of The Geneva Association.
Despite predictions of a rough hurricane season ahead for US insurers, the sector looks well prepared for such an eventuality according to A.M. Best, which notes that the industry’s collective balance sheet is hitting record levels even after Superstorm Sandy.
As the US economy continues to show signs of a durable recovery and the EU and US negotiate a new Transatlantic Trade and Investment Partnership, experts have warned risk managers in EU-based international companies to beware of flaws in many multinational insurance programmes that could increasingly come to the fore as trade picks up.
The Catastrophe Risk Exchange, (CATEX), has hired Martin Robinson as managing director for CATEX Europe.
XL Group has created a reinsurance Global Emerging Markets unit, which aims to optimise development.
French reinsurer SCOR has acquired the US life reinsurance operations of Assicurazioni Generali for €579m ($750m) plus a 2013 earnings adjustment via SCOR Global Life Americas Holding, one of its subsidiaries.
Tower Group International has entered into an agreement to acquire American Safety Reinsurance (ASRe), the Bermuda-based reinsurance subsidiary of American Safety Insurance Holdings, from Fairfax Financial Holdings for some $59m.