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Insurance
American International Group (AIG) has said it anticipates that the recent decision by the UK Ministry of Justice to reduce the discount rate applied to lump-sum bodily injury payouts, known as the Ogden rate, will cost it some $100 million in its first quarter of 2017. 20 April 2017
Insurance
US-based global insurance distributor AmWINS Group has signed a definitive agreement to acquire wholesale brokerage firm Partners Specialty Group. 20 April 2017
Insurance
Pioneer Underwriters, the underwriting group within Minova Insurance, has expanded its miscellaneous errors and omissions (E&O) division with two new appointments. 20 April 2017
News
Aggregate shareholders’ funds for companies included in the Willis Re Index, which examines the results of the world’s biggest reinsurance groups, increased by 4 percent to $344.1 billion as at 31 December 2016, according to the latest Reinsurance Market Report from Willis Re. 20 April 2017
Insurance
US insurer WR Berkley Corporation has appointed the lead equity analyst covering insurance at Goldman Sachs to join its corporate investment arm as a director. 20 April 2017
Insurance
Re/insurer XL Catlin has raised its terrorism insurance coverage limits to $250 million in the US on the back of what it said was businesses’ increased concerns about potential terror risks. 20 April 2017
Insurance
Pioneer Underwriters, the underwriting group within Minova Insurance, has appointed Rolando Rodriguez as vice president of diversified financial services at Pioneer Special Risk (PSR) with immediate effect. 18 April 2017
Insurance
If hedge fund manager John Paulson leaves the board of AIG as suggested by a media report, this would remove one of the leading advocates of splitting up the insurer, CreditSights analysts wrote in an April 12 note. 12 April 2017
News
AXIS Re, a subsidiary of Bermuda-based AXIS Capital Holdings, has appointed Michael Leahey as vice president and deputy head of catastrophe underwriting for Europe, Middle East and North Africa (MENA), and Israel to further expand its business in these regions. 12 April 2017
Insurance
The number of people in the UK covered by group risk policies increased significantly in 2016, adding 520,000 newly covered members, according to Swiss Re's latest annual Group Watch report. 12 April 2017
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