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Insurance
Insurers have faced a multi-billion dollar bill from natural disaster events occurred worldwide during April 2017, reveals Aon Benfield’s global catastrophe recap report. 10 May 2017
Insurance
Insurance and investment firm Standard Life has revealed in a document that the agreed merger with Aberdeen Asset Management will result in the loss of around 800 jobs. 10 May 2017
Insurance
French insurer AXA has said that it intends to list a minority stake of its US operations in the first half of 2018 to create “significant additional financial flexibility to accelerate AXA’s transformation.” 10 May 2017
News
Hannover Re’s profits slipped slightly in the first quarter but the reinsurer enjoyed strong growth driven by structured reinsurance demand for reinsurance solutions providing solvency relief and growing demand for cyber coverage. 10 May 2017
Insurance
UK insurer Aviva has announced the sale of its 50 percent shareholdings in life insurance and pension joint ventures Unicorp Vida and Caja España Vid, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía. The total consideration of the transaction is €475 million. 10 May 2017
Insurance
Novae Group enjoyed substantial growth driven largely by US excess and surplus lines in the first quarter of 2017 despite exiting a number of casualty lines of business where it has deemed rates unsustainable. But it also warned that these would still hit its profitability this year. 10 May 2017
Insurance
Specialist re/insurance broker BMS Group has appointed Andrew Godden as chief executive officer (CEO) of Australia. He will be based in Sydney, and report directly to BMS CEO Nick Cook. 10 May 2017
Insurance
London-based Barbican Insurance Group has appointed Jacqueline Wiffen as a class underwriter for upstream energy. She will report to Olivier Decombes, divisional head of energy, power and utilities. 10 May 2017
Insurance
US-based Prudential Retirement, a unit of Prudential Financial, has appointed Phil Waldeck as its new president and chief executive officer (CEO), with effect from June 5. 10 May 2017
Insurance
US-based CNA, a commercial insurance provider, has appointed Kevin Smith as president and chief operating officer (COO) for CNA Specialty. 10 May 2017
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