Cayman-based property and casualty (P&C) reinsurer Oxbridge Re has filed an Initial Public Offering (IPO) with the US Securities and Exchange Commission.
Leading reinsurer Swiss Re has sought shareholder approval for a ten percent increase in ordinary divided, following newly enforced Swiss regulation.
UK insurance buyout firm Resolution has reported a 59 percent increase in pre-tax operating profit which rose to £436 million in 2013, compared with £274 million in 2012.
Insurer ACE has expanded its environmental risk insurance to include crisis management cover as part of its strategy to support evolving needs of companies in Europe.
German insurer Allianz will acquire a chunk of the Property and Casualty (P&C) insurance business of Italy’s UnipolSai, for €440 million. UnipolSai is a subsidiary of insurer Unipol, which achieved €1.1 billion of premiums in 2013.
Steve Hearn, deputy CEO of Willis Group Holdings has been elected as chairman of the London & International Insurance Brokers’ Association (LIIBA), an association which represents insurance brokers in London and international markets. He succeeds Graham Clarke of Miller, who continues as deputy chairman of LIIBA.
US private equity fund Kranos Capital has acquired the Argentine operations of insurer Liberty Mutual.
Qatar’s second largest insurer, The Qatar General Insurance & Reinsurance Company (QGIR), will distribute a 20 percent share bonus following a successful year which saw the company increase its net profit to QR 2.1 billion in 2013 compared with QR 175.5 Million in 2012.
Personal Group, a provider of employee benefits, employee related insurance products and financial services in the UK, has been awarded one of the most significant employee benefits contracts in the group’s history.
Medical insurer ALC Health has created a new senior management role to support the company’s continued expansion.