Xchanging – a provider of business process, procurement and technology services – has expanded its presence in Southeast Asia, with a significant growth in headcount and a new regional hub office in Kuala Lumpur.
Nick Fearon has joined Miller, a specialist insurance and reinsurance broker, in a senior production and broking role to develop a book of business that includes professional indemnity, technology and cyber risks.
Endurance Specialty Holdings, a Bermuda-based property and casualty re/insurer has elected John Charman as the Company's chairman and chief executive officer, following the resignation of David Cash.
Professional Indemnity Protect (PI Protect), part of Barbican Group Holdings, has appointed Denise Mercer as underwriting manager. Mercer will report to William Hall, head of underwriting at PI Protect.
ILS Capital Management, the Bermuda investment management company specialising in ILS, has hired a specialty reinsurance team.
The Allianz Group has closed a three-year $175 million cat bond that protects it against named storms and earthquake losses in North America, the Caribbean and Mexico.
Endurance Specialty Holdings, a Bermuda-based property and casualty re/insurer, has appointed Peter Mills as executive vice president and head of Specialty Reinsurance.
Run-off insurer DARAG (Deutsche Versicherungs- und Rueckversicherungs-AG) has acquired Hamburg-based Hanseatica Rueckversicherungs-AG (Hanseatica) including its entire run-off portfolio. As of December 2012, Hanseatica had a balance sheet total of €38 million.
XL Group has appointed Thierry Daucourt as chief operating officer of its International P&C Insurance business.
Another two catastrophe bonds this week, both covering US windstorm risk, have illustrated the depth of demand from capital markets investors. During marketing, both deals increased in size and tightened on pricing.