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Insurance
Aviva’s limited reliance on EU passporting of services and a robust balance sheet has prepared it well for the consequences of the United Kingdom’s exit from the European Union (EU), chief executive officer Mark Wilson said during the insurer’s capital markets day. 7 July 2016
Insurance
Harrington Reinsurance Holdings, together with its subsidiary Harrington Re, has completed a capital raise of approximately $550 million of equity and $50 million of debt, including a $100 million equity investment by a subsidiary of AXIS Capital and an approximately $50 million equity investment by affiliates of The Blackstone Group. 6 July 2016
Insurance
European life insurers will be the first to be impacted by the UK’s decision to withdraw from the EU but all parts of the insurance sector should prepare to adjust their group structure, according to a senior director at rating agency AM Best. 6 July 2016
Insurance
The magnitude of reinsurance rate reductions has slowed but a softening continued in many lines in the June/July 2016 renewal season, according to a report from Willis Re, which adds that stability in the market remains elusive. 1 July 2016
Insurance
AM Best has affirmed the financial strength rating (FSR) of A- (Excellent) of Gulf Reinsurance (Gulf Re), with a stable outlook for this rating. 27 June 2016
Insurance
The volatility triggered in the financial markets since the revelation that the UK will leave the EU could have a material impact on insurers’ half-year results and balance sheets, rating agency AM Best has claimed. 24 June 2016
Insurance
S&P Global Ratings has reiterated its view that the UK leaving the EU will deter investment in the economy, decrease official demand for sterling reserves, and put the UK's financial services sector at a competitive disadvantage compared with other global financial centers. 24 June 2016
Insurance
Rating agencies have begun to react to the news that the UK will exit the European Union (EU) – and their take on the move is not a positive one. 24 June 2016
Insurance
Nassau Reinsurance Group has completed its acquisition of Phoenix, which now serves as its US life and annuity platform. 22 June 2016
Insurance
Specialist Lloyd’s insurer Neon has opened an office in Bermuda as it grows its international footprint. 21 June 2016
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