News

Insurance

AM Best reveals Brexit contingency plan with new EU base

Re/insurance sector rating agency AM Best is establishing a new office in Amsterdam, the Netherlands, during 2018 as part of its Brexit contingency plan.   1 March 2018

Insurance

Peak Re reaches $22m settlement with Tower

New Zealand-based general insurer Tower has entered into a $22 million settlement agreement with Hong Kong's Peak Re regarding an adverse development cover policy entered in 2015.   1 March 2018

Insurance

Axon makes strategic move into Latin America with $10m backing from Asian partners

Specialty lines programme administrator Axon Underwriting has launched a new reinsurance unit, Axon Re, to expand its cargo and stock throughput reinsurance programme across Latin America.   24 April 2019

Insurance

Broker Brightside appoints new COO from Swinton Group

UK broker Brightside Group has appointed Richard Beaven as group chief operating officer (COO), reporting to group CEO Brendan McCafferty.   24 April 2019

Insurance

Workers’ compensation claims will increase in severity in 2013

While the frequency of workers’ compensation claims in the US is expected to decrease further in 2013, in line with current trends, their severity and overall cost to insurers will rise, according to a report by Aon Risk Solutions.   19 December 2012

Insurance

ERS to launch underwriting academy in Swansea

UK-based specialist motor insurer ERS is launching an underwriting academy in Swansea, relocating a number of roles to the city from London and the South East.   11 June 2019

Insurance

SCOR reports 17% rise in net income despite catastrophes losses

SCOR, the world’s fourth-biggest reinsurer, saw its shares rose 3 percent after reporting an increase in net income for the first nine months of the year.   24 October 2019

Insurance

DARAG acquires One Re to enter into the UK market following capital strengthening

Run-off specialist DARAG Group has agreed to acquire London-based non-life reinsurance company One Re, which provided reinsurance to African-based insurers for industrial property risks and engineering projects from 2015 to 2018.   18 July 2019

Insurance

Victor appoints John Stephenson to UK country manager role

Victor Insurance Holdings, a managing general underwriter (MGU) formerly known as the Schinnerer Group, has appointed John Stephenson as UK country manager, and Fred Willemze as strategic partnerships director.   17 July 2019

Insurance

CNA’s Robusto heartened by 2018 progress despite Q4 losses

Commercial insurer CNA made “significant progress in 2018” despite a fourth quarter hit by catastrophe losses, said chairman and CEO of CNAFinancial Corporation Dino Robusto as the company announced its full year results.   11 February 2019

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