Third Point Reinsurance has priced its initial public offering (IPO) of some 22.1 million common shares at $12.50 per share – at the lower end of the proposed end – raising some $276 million.
The renewable energy industry could be spending three times as much on insurance by 2020 to mitigate risks to projects as investors increasingly understand the value different insurance products can bring to the sector, offering an opportunity for insurers.
Allied World Assurance Holdings (Ireland), part of Allied World Assurance Company Holdings, has agreed to acquire a 21.2 percent stake in Gravity Underwriting, a London-based managing general agent (MGA).
Xchanging, the business process, procurement and technology services provider, and Deutsche Bank will host a Business Briefing Round Table at the Monte Carlo Rendez-vous focused on Netsett, the new technology platform pioneered by Xchanging in partnership with Deutsche Bank.
Endurance Specialty Holdings has appointed Fred Cooper as executive vice president and head of US Financial Institutions Insurance, based in New York. He joins Endurance from Aspen Specialty, where he was executive vice president and chief D&O underwriter.
Kane, the global insurance manager, has launched a new independent private catastrophe bond platform. The company said the platform could facilitate the flow of smaller transactions into the collateralized reinsurance sector.
Arthur J Gallagher (AJG) (Singapore) has appointed Maxwell Sung as managing director reinsurance as part of strategic plans to increase its reinsurance portfolio in Asia.
Ace Group has strengthened its casualty insurance business across Continental Europe with the appointments of Jerome Salmon and Connie Germano.
The record rainfall experienced in the greater Toronto metropolitan region, resulted in Canada’s second billion-dollar natural disaster event of 2013 – the first being an extensive flood event that inundated the province of Alberta in June, according to a report by Aon Benfield’s catastrophe modelling centre, Impact Forecasting.
Ace Group has appointed Geoff Russell as regional senior professional Indemnity Underwriter, UK and Ireland, as it continues to invest in expanding its underwriting capabilities throughout its network of regional offices.