News
Insurance
Chubb’s net profits soared in the third quarter reaching $1.2 billion in the period compared with a net loss of $70 million in the same period a year earlier, when it was hit by multiple natural catastrophes. Its combined ratio for the period was 90.9 percent compared with 110.8 percent in the same period a year earlier. 24 October 2018
Insurance
Hong Kong-based blockchain company Galileo Platforms has secured $2 million Series A funding from specialist property/casualty reinsurer Greenlight Capital Re to accelerate its growth. 24 October 2018
Insurance
Bermuda-based AXIS Capital Holdings has bolstered its board of directors with the appointment of a senior executive from Deutsche Bank. 24 October 2018
Insurance
From its home market in Central Europe, VIG Re is expanding in Continental Europe taking advantage of its low cost base, Johannes Martin Hartmann, its chief executive, told Baden-Baden Today. 24 October 2018
Alternative Risk Transfer
New risk transfer products using structures underpinned by the capital markets and particularly the insurance-linked securities (ILS) community have represented the industry’s key source of innovation in recent years, Brian Secrett, chief underwriting officer at Tokio Millennium Re (TMR), told Baden-Baden Today. 24 October 2018
Insurance
Bermuda-based Fidelis Insurance Holdings has revealed plans to establish a re/insurer in Ireland, which it said will allow it to take advantage of opportunities in the European Economic Area. 23 October 2018
Insurance
Swiss Re has appointed Tavaziva Madzinga as new chief executive officer (CEO) of UK & Ireland (UKI), succeeding Frank O'Neill who left the reinsurer in September. 23 October 2018
Insurance
Property/casualty insurer Liberty Mutual Insurance is undertaking a strategic review of its London-based Pembroke Managing Agency, which came into its portfolio when it acquired lronshore in May 2017. 23 October 2018
Alternative Risk Transfer
The 2017 natural catastrophes, which resulted in record insured losses globally, also served to test the quality of reinsurance providers—and some stark differences in quality were revealed, Stephan Ruoff, CEO of Tokio Millennium Re (TMR), told Baden-Baden Today. 23 October 2018
News
Reinsurers have stopped worrying about the elongated soft market and are now more inclined to improve their performance in other ways. A panel discussed these trends at a roundtable in Baden-Baden, hosted by Intelligent Insurer and sponsored by S&P Global Ratings. 23 October 2018
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