News

Insurance

Sirius placed on Rating Watch Negative by Fitch as China Minsheng debt crisis deepens

Fitch Ratings has placed Sirius International Group's ratings on Rating Watch Negative, driven by a "deepening debt and liquidity crisis" at China Minsheng Investment Group Corp (CMIG), which owns approximately 80 percent of Sirius's common shares on a fully diluted economic basis.   25 April 2019

Insurance

Pro Global snaps up MGA incubator Vibe

Specialist re/insurance provider Pro Global Insurance Solutions is acquiring Vibe MGA Management, the MGA incubator business of Vibe UK, which owns Lloyd’s managing agent Vibe Syndicate Management.   25 April 2019

Insurance

Argo hires new Brazil CEO from Swiss Re to drive strategic expansion

Argo Seguros, the Brazilian underwriter of specialty insurance and reinsurance products and a member of Argo Group, has appointed Newton Queiroz as its new CEO.   25 April 2019

Insurance

Amynta Group appoints new chief executive officer from Bank of America Merrill Lynch

Amynta Group, a group of warranty, managing general agent (MGA) and specialty risk companies, has appointed Robert Giammarco as the new chairman and chief executive officer (CEO).   25 April 2019

Insurance

Voce rejects Argo’s defence on corporate spend and publishes flight logs

Activist investor Voce Capital has hit back at Argo after the insurer published a detailed defence rejecting allegations of misuse of corporate funds and urging shareholders to ignore blue proxy ballots sent out by Voce.   24 April 2019

Insurance

Aviva's UK head Briggs departs as new CEO Tulloch overhauls top management

Aviva's director and UK insurance CEO Andy Briggs has stepped down with immediate effect after the company announced a series of changes to its senior leadership team in a bid to bring "greater energy, pace and commercial thinking".   24 April 2019

Insurance

Swiss Re Corporate Solutions appoints new Latin America CEO from Allianz

Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has appointed Angelo Colombo as the new CEO of Latin America, effective from October 2019.   24 April 2019

Insurance

Lockton launches agribusiness practice in Asia Pacific with JLT hire

Broker Lockton has launched a food and agribusiness practice across Asia-Pacific with the hiring of Stephane Baldanoff as regional director.   24 April 2019

Alternative Risk Transfer

Prudential closes $2.6bn longevity reinsurance deals in pre-Brexit rush

Prudential Retirement, a unit of Prudential Financial, has completed approximately $2.6 billion in previously undisclosed longevity reinsurance contracts, assuming the longevity risks of about 16,000 pensioners, ahead of Brexit.   24 April 2019

Alternative Risk Transfer

FEMA grows NFIP flood reinsurance to $2.12bn with new $300m cat bond

The US Federal Emergency Management Agency (FEMA) has secured a $300 million reinsurance placement for the National Flood Insurance Program (NFIP) from the capital markets investors, brings the total flood cover to $2.12 billion.   23 April 2019

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