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Insurance
US-based property/casualty insurer Liberty Mutual Holding Company reported attributable net income of $1.01 billion for 2016, an increase of $492 million versus the same period in 2015. 2 March 2017
Insurance
Bermuda-based XL Group has said that it expects the UK’s Ogden rate change decision to cost the re/insurer around $75 million. 1 March 2017
News
Matthias Weber, Swiss Re's group chief underwriting officer, has taken the decision to step down. He will be replaced by Edouard Schmid currently head of property and specialty reinsurance. 23 February 2017
News
Greenlight Re returned to profitability in 2016 as its CEO said it had resolved several problematic legacy contracts and continued to grow and diversify its underwriting portfolio. 23 February 2017
News
Swiss Re’s profits plummeted in 2016 with all its business units except Life Capital fairing worse than in 2015. Yet the reinsurer also posted strong growth across the board despite warning of a toxic mixture of softening rates, slow global economic growth, continued low interest rates and political uncertainty. 23 February 2017
Insurance
Beecher Carlson Insurance Services, the specialised large account subsidiary of Brown & Brown, has expanded its US West Coast operations with the appointment of Keith Newell as managing director. 23 February 2017
Insurance
Bermuda-based XL Group has appointed global corporate controller Stephen Robb as the new chief financial officer (CFO), succeeding Peter Porrino, who is set to retire in May 2017. 23 February 2017
Insurance
Validus Specialty, a subsidiary of Bermuda-based Validus Holdings, has appointed a new team of US-based cyber underwriters, comprising Jackie Lee and Mary Spicer, from the commercial errors and omissions (E&O), cyber division of Nationwide Insurance. 23 February 2017
Alternative Risk Transfer
A combination of factors could make the insurance-linked securities market more competitive as 2017 goes on, according to Paul Schultz, CEO of Aon Securities. 23 February 2017
Alternative Risk Transfer
Weston Hicks, the president of Alleghany Corporation, which owns TransRe, has said that cracks are starting to appear in the foundations of the property/casualty industry and stressed that the so-called alternative reinsurance markets remain untested in the aftermath of a big loss warning that the industry may have created a monster. 23 February 2017
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