63 new licences have been issued and 11 surrendered during the first five months of 2012, meaning that the number of international insurance entities licensed in Guernsey has grown by 52 over that period.
Towers Watson Capital Markets last week arranged a private placement catastrophe bond, Oak Leaf Re 2012-1, which closed at $22.78 million.
The board of the Association of British Insurers (ABI) has appointed Tidjane Thiam to be the association’s next chairman.
Helen Chapman has been appointed partner in the insurance and reinsurance group of Hogan Lovells.
The property-casualty industry is unlikely to see a return to a traditional hard market either this year or next, despite price increases on some lines of business over recent months.
Five title underwriters have formed a reinsurance alliance with Lloyd's of London, called The American Title Reinsurance Alliance.
The latest sigma study by Swiss Re has revealed that non-life premiums expanded 1.9 percent during 2011, despite overall premiums declining 0.8 percent.
White Mountains Solutions, the specialist runoff acquisition subsidiary of the White Mountains Insurance Group, is to acquire American General Indemnity Company and American General Property Insurance Company from American General.
Russia’s relatively young insurance sector, although facing several challenges, is developing at an impressive rate, according to a new report by rating agency AM Best.
Rating agency AM Best has affirmed its financial strength A+ rating for ACE Europe Group Limited (AEGL), along with the group’s “aa” issuer credit rating.