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Insurance
Re/insurer XL Catlin has received regulatory approval from the Monegasque Minister of State to provide insurance policies in the principality of Monaco. 15 March 2017
Insurance
The LMA Wordings Forum has revealed it has drafted a ‘cold zone variant’ of its model exclusion wording, which would make it easier for underwriters to cover construction projects in the nuclear sector, a move prompted by recent growth in the construction of nuclear power stations and a requirement to make wordings more appropriate for the nuclear industry of the future. 14 March 2017
Insurance
The global non-life insurance market has experienced strong growth in recent years, registering a compound annual growth rate (CAGR) of 5.4 percent between 2011 and 2015 to reach a value of $2.03 trillion, according to data from research company MarketLine. 14 March 2017
Insurance
London-based Ascot Underwriting has appointed Ray Antes as executive underwriter with responsibility for its political risk team. 14 March 2017
Insurance
Fitch Ratings has changed its sector outlook for the Italian life insurance market to negative from stable, noting that wider spreads on Italian sovereign debt may weaken insurers' capitalisation and business retention. 14 March 2017
Insurance
More than half (54 percent) of high net worth individuals are concerned that they are underinsured, with many worried they are buying insurance that may be inadequate for their needs, according to new research by Chubb. 14 March 2017
Insurance
The China Insurance Regulatory Commission (CIRC) has introduced system that will require foreign reinsurers to deposit funds with unaffiliated domestic commercial banks in a move that it said will mitigate the credit risk arising from foreign carriers operating in the country. 14 March 2017
Insurance
Berkshire Hathaway should buy insurance giant AIG, which has recorded a $3 billion loss for the fourth quarter of 2016, prompting the CEO to resign, analysts at Keefe, Bruyette & Woods (KBW) suggested in a March 10 research note. 13 March 2017
Insurance
Dubai-based re/insurer International General Insurance Holdings (IGI) has recorded lower gross written premiums and net profits for 2016, but management claims to “view future prospects with optimism.” 13 March 2017
Insurance
Fitch Ratings has revised its sector outlook for the UK non-life company insurance market to negative from stable after a harsh drop in the personal injury Ogden discount rate. 9 March 2017
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