Endurance Specialty Holdings has appointed Daniel Wadley as executive vice president and head of the new Endurance Pro insurance unit.
Andrew Pinkes has been appointed as executive vice president, global head of claims at XL Group’s Insurance operations. He succeeds Paul Tuhy who will assume position as head of Global Aerospace Business.
An amendment has been passed by the Legislative Assembly of the Cayman Islands in March that would allow a framework to be created to allow the registration of portfolio insurance companies, or PICs, within segregated portfolio company insurers (SPCs).
The Bermuda Business Development Corporation (BBDC), Business Bermuda and the Insurance Development Council have competed the legal process allowing them to merge.
US insurer Allstate has launched a new catastrophe bond. The deal’s initial size has been marked up as $250m but speculation is already mounting around by how much it could increase in size given the appetite of capital markets investors at the moment and Allstate’s large appetite for such coverage.
Brit Insurance and Maiden Holdings have agreed a deal that will see Maiden's Excess and Surplus (E&S) unit, Maiden Specialty, complete a temporary 100 per cent quota share reinsurance agreement with Brit Global Specialty.
DARAG Deutsche Versicherungs- und Rueckversicherungs-AG (DARAG), the run-off insurer, has raised €60 million of new capital which it says will be used to finance new acquisitions ahead of an expected increase in deal flow in the coming months.
The percentage of non-life catastrophe reinsurance ultimately covered by some form of insurance-linked securities (ILS) will double over the next four years, to the point this form of risk transfer could represent a third of the total market.
London-based business processing company Xchanging has appointed Mark Sullivan and Andy Campbell to its claims services business.
The European Commission has released a consultation on a Green Paper which it hopes will improve disaster insurance take-up in the European Union (EU) following an increase in natural catastrophes.