Streamlined AIG doubles its profits
Boosted by strong earnings in the fourth quarter of 2013, American International Group (AIG) posted strong profits for 2013 more than doubling its net income for the year compared with 2012.
XL extends luxury cover in the US
XL Group’s specialty businesses in the US are extending the coverage of equine, aviation, yacht, fine art, and kidnap, ransom & extortion for high net worth private customers.
AXA Assistance strengthens UK team
AXA Assistance has promoted Eoin Lyons to chief operating officer from his role as general manager of AXA Assistance in Ireland. Former head of account management, Paul Moloney will assume Lyons’ vacated position, as well as the role of account director for key strategic AXA Assistance UK clients.
Kane boosts US team with two hires
Insurance manager Kane has extended its US team with the appointment of Monica Everett as business development director and Hannah Hayes as business development associate.
Weisshorn Re appoints CEO
Zurich-based reinsurer Weisshorn Re AG has appointed Patrick Kelleher as CEO and delegate to the board of directors. Kelleher has experience leading re/insurance businesses on an international scale and risk management experience across a range of life and non-life insurance businesses.
Guy Carp: California drought is very concerning
As floods continue to ravage the UK, California faces the lowest precipitation in recorded history for the state which has already led to exceptionally severe drought conditions in the area according to Guy Carpenter.
Qatar Insurance enters Lloyd’s with Antares acquisition
Qatar Insurance Company (QIC) is to acquire Antares Holdings, a specialist insurer and reinsurer operating in the Lloyd’s market
AlphaCat Managers appoints CFO
AlphaCat Managers, the ILS investment adviser that is a subsidiary of Validus Holdings, has appointed Jo Anne Stanton as senior vice president and chief financial officer of AlphaCat.
Lancashire stable after year of dramatic change
In what its CEO described as a year containing the “most dramatic changes in our history” Lancashire Holdings reported broadly stable results for the full year 2013 with small decreases in its profits and premiums but an increase in its return on equity (ROE) for the year.
ANV appoints head for unified claims team
ANV Holdings BV, the Dutch headquartered specialty insurance business, has appointed Jonathan Thorpe as head of claims for all ANV Syndicates. He was formerly head of claims and legal counsel for Syndicates 5820 and 779.