Global Aerospace execs form new MGA venture
Altitude Risk Partners, an underwriting cell backed by capacity from Barbican Insurance Group, HDI-Gerling Industrie Versicherung and Sompo Japan Insurance on a quota share basis, has revealed plans to underwrite a worldwide portfolio of airlines, manufacturing products, general aviation, war and space risks.
ILS boosts insurance formations on Guernsey
The growth of insurance-linked securities (ILS) helped Guernsey increase the number of insurers licensed on the island last year.
M&A in Emerging Europe set to increase
2014 could be a bumper year for mergers & acquisitions in Emerging Europe driven by a reinvigorated private equity sector keen to snap up under-valued targets in the region, according to a new report.
Novae boosts its energy team
Novae Group, the specialist listed Lloyd’s insurer, has appointed Cliff Payne as class underwriter energy. He joins from Marsh.
Allianz’s PIMCO changes leadership structure
Pacific Investment Management Company (PIMCO), the US-based asset management subsidiary of Allianz, has reorganised its leadership structure.
Gable secures underwriting deal with Aon
Gable Holdings, the European non-life insurance company, has established a new delegated underwriting agreement that will cover commercial combined risks across its European territories, with Aon UK.
Munich Re/Willis design cat solution for Philippines
The insurance industry appears to be close to establishing a solution, likely to use a structure similar to that used in insurance-linked securities (ILS), which would mean much better insurance coverage for the Philippines.
Achmea launches European cat bond first
Achmea Reinsurance Company, the Dutch reinsurance group that mainly manages the reinsurance risks of the wider Achmea group, has completed the first indemnity cat bond that transfers Europe windstorm risk into the capital markets for a European insurance sponsor.
Insurance fund invests in Russian software company
The EMF New Europe Insurance Fund (NEIF), which invests in insurance related sectors of non-EU Eastern Europe, has invested in Virtu Systems, a Russian insurance software company specialising in front-end/distribution solutions for the insurance industry.
Markel acquires Abbey Protection
Markel Capital Holdings has acquired Abbey Protection Group.