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Insurance
M&A and share buybacks on the rise in Europe's insurance sector: Survey
A surge in M&A and share buybacks could sweep Europe's insurance sector in 2017 with firms now considering both these options as a way to use surplus capital, according to a report by Moody's Investors Service.   12 June 2017
Insurance
AM Best Europe hires former PwC partner
Rating agency AM Best has appointed John Bromfield as independent non-executive director to the board of its Europe, Middle East and Africa (EMEA) region subsidiary, AM Best Europe Rating Services (AMBERS).   7 June 2017
Insurance
Sompo Canopius taps AIG exec to head trade credit business
Specialty re/insurer Sompo Canopius has hired Will Clark to head a new trade credit insurance team.   7 June 2017
Insurance
S&P revises AIG rating outlook to negative
S&P Global Ratings said June 6 that it revised its rating outlook on global multiline insurer American International Group (AIG) to negative from stable.   7 June 2017
Insurance
Willis Towers Watson appoints head of investments for Asia Pacific
Broker Willis Towers Watson has appointed Taro Ogai as head of investments for Asia Pacific, based in Tokyo.   7 June 2017
Insurance
New Towergate group KIRS prices debt issuance to finance acquisitions
Insurance intermediary KIRS Group priced its offering of £400 million in aggregate principal amount of 8.375 percent Senior Secured Notes due 2023 and $520 million in aggregate principal amount of 8.625 percent Senior Secured Notes due 2023.   7 June 2017
Insurance
Arch warns on $38m property fac reinsurance hit
Bermuda-based Arch Capital Group said June 6 that it expects its 2017 second quarter pre-tax underwriting income to be adversely impacted by approximately $38 million relative to the quarterly run rate level of profitability associated with its property facultative reinsurance operations.   7 June 2017
Insurance
VAT introduction could cause cash-flow issues for Gulf insurers
Given the fiscal pressures in the member states of the Gulf Cooperation Council (GCC), the introduction of value added tax (VAT) seems inevitable and could cause short-term cash-flow issues for insurers, according to AM Best.   6 June 2017
Insurance
US buyer boasts of cat reinsurance cost savings of 8% in renewal
The CEO of Heritage Insurance Holdings has boasted that the insurer cut its catastrophe reinsurance costs by 8.3 percent while improving terms and conditions in the placement of its 2017-2018 reinsurance programmes, which includes a mixture of traditional coverage, collateralised reinsurance and catastrophe bonds.   6 June 2017
Insurance
Lloyd’s Novae Syndicates put 'under review for possible downgrade'
Syndicate Research Limited (SRL) placed the B+^ (Above Average) Continuity Opinion of Lloyd's syndicate 2007 (Novae Syndicates Limited) under review for possible downgrade.   2 June 2017

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