PICC plans $1.6bn Shanghai IPO
People’s Insurance Group of China (PICC), which owns the nation’s biggest non-life insurer, is planning to raise more than $1.6 billion through a Shanghai listing, according to a Reuters April 10 report.
Marsh appoints CEO of Middle East and Africa from Oman Insurance
Global insurance broking and risk management firm Marsh has appointed Christos Adamantiadis as CEO of a newly-combined Middle East and Africa region, and Ayman El Hout as country leader for the United Arab Emirates (UAE).
Beazley targets European expansion with new head of broker relations
Specialist insurer Beazley has appointed Andreas Bergler as head of broker relations for Continental Europe, a new role designed to support the company's expansion plans across the region.
Political risk and violence, terrorist attacks on the rise
Global political volatility is leading to heightened levels of political violence and political risk, according to Aon’s 2018 Risk Maps for Political Risk, Terrorism and Political Violence.
Digital startup Acko to offer first in-trip insurance in India
Mumbai-based digital insurance start-up Acko General Insurance has partnered with ride-sharing app Ola to offer a first-of-its-kind in-taxi insurance in India.
Caribbean’s parametric cat fund CCRIF SPC explores cover expansion
The CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company) is exploring ways to scale up the cover it provides with regards to reach and products.
P&C insurance sector reserve deficiency deteriorates
Property/casualty (P&C) insurance sector reserve deficiency deteriorated to $4.3 billion in 2017 from $2.5 billion in 2016, according to Morgan Stanley research.
White Mountains in potential $438m share buyback
White Mountains Insurance Group is launching a "modified Dutch auction" self-tender offer to purchase 500,000 of its common shares at a purchase price of not greater than $875 or less than $825 per share, net to the seller in cash.
Neon unveils new contingency offering with Barents Re hire
Specialist Lloyd's insurer Neon has launched a new contingency offering with the hiring of Barents Re executive Jeremy Cooke as contingency underwriter.
Insurers face rising losses from severe convective storms
Annual expected insured losses for the severe convective storms (SCS) peril, including catastrophe and non-catastrophe events, are approaching $25 billion, higher than the hurricane and earthquake perils combined, according to a new report by Karen Clark & Company (KCC).
