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Insurance
S&P Global Ratings said on July 7 that it reduced its outlook for UK-based life insurer Legal & General’s (L&G’s) subsidiaries as the group’s spending is outpacing retained earnings. 10 July 2017
Insurance
Fitch Ratings said July 7 that it has placed Gibraltar-based Elite Insurance Company’s Insurer Financial Strength (IFS) rating of 'BBB-' on Rating Watch Negative (RWN). 10 July 2017
Insurance
Texas-based US Risk Insurance Group, a specialty lines underwriting manager and property/casualty wholesale broker, has acquired IMS London American Brokerage and Underwriting Services. 10 July 2017
Insurance
UK comprehensive car insurance prices rose 18 percent on an annualized basis to £847 in the second quarter, the biggest quarterly rise in seven years, pushing the cost of UK car insurance close to an all-time high. 10 July 2017
Insurance
Stephen Catlin, who is stepping down as executive deputy chairman of the XL Group, is not in the mood for retiring yet. 6 July 2017
Insurance
Legal expenses insurer Elite Insurance said July 5 that it is ceasing to write new business. Elite offered legal expenses insurance, professional indemnity insurance and general insurance. 5 July 2017
News
Germany-based Munich Re has appointed Maximilian Zimmerer to its supervisory board, succeeding Peter Gruss who has resigned from the position with effect from June 30, 2017. 5 July 2017
Insurance
Stephen Catlin, the founder of Catlin, and the UK’s Prudential Regulation Authority (PRA) warned insurers over their cyber risk exposures. 5 July 2017
News
Swiss Re has appointed Christian Kreutzer as head market underwriting for Austria, Central and Eastern Europe (CEE). He will be based in Munich. 5 July 2017
Insurance
Bermuda-based Arch Capital Group has completed the acquisition of AIG United Guaranty Insurance (Asia) from American International Group. The company will now operate as Arch MI Asia. 5 July 2017
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