News
Insurance
Munich Re has benefitted from low major losses in the first quarter of 2018, lifting its net profit to €827 million from €557 million in the first quarter of 2017. 8 May 2018
Insurance
The New York State Department of Financial Services (DFS) has fined Chubb and Lockton a combined $8.3 million for underwriting an NRA- (National Rifle Association) branded insurance programme. 8 May 2018
Insurance
Insurance Europe’s Reinsurance Advisory Board (RAB), a representative body for the European reinsurance industry, has accused the US National Association of Insurance Commissioners (NAIC) of deviating significantly from the original language of the bilateral agreement on re/insurance prudential measures, concluded between the EU and US in 2017, in its draft implementation plans. 28 October 2018
Insurance
Liberty Mutual Insurance has completed the acquisition of 100 percent ownership interest in Bermuda-based specialty property/casualty insurer Ironshore from Chinese conglomerate Fosun International. 2 May 2017
Insurance
Integro Insurance Brokers said on Sept. 19 that it hired Keith Anderson as UK chief financial officer (CFO). 19 September 2017
Insurance
The use of blockchain may help to overcome issues of trust between parties where there is a potential conflict of interest, and its use may even command a higher premium on contracts where the payment of a claim is automated, Magdalena Ramada Sarasola, senior economist at Willis Towers Watson, suggested to Baden-Baden Today. 22 October 2018
News
Benoît des Cressonnières, chief executive officer of Euler Hermes Reinsurance, with responsibility for the company’s buying programme, says he is expecting a steady renewal with little change in pricing, despite some pressure from reinsurers for rate increases on the back of the 2017 catastrophe losses suffered by many global reinsurers. 22 October 2018
Insurance
A restructure within the Mapfre Group will allow reinsurance unit Mapfre Re to expand its range of products and remit, Eduardo Perez de Lema, chief executive officer and chairman of the management committee of Mapfre Re, told Baden-Baden Today. 22 October 2018
Insurance
Driven by an appreciation of the benefits of diversification and a search for healthier rates, many insurers have shown a growing commitment to the credit and political risk space in recent years, creating more choice for clients as a result. This has been widely supported by reinsurers. 22 October 2018
News
A growing number of larger insurers in Europe have restructured their reinsurance programmes whereby they place centralised multi-risk covers through global broker programmes—a trend that has made life tougher for smaller reinsurers. 22 October 2018
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