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Insurance
Guy Carpenter, the reinsurance broking segment of Marsh & McLennan, reported revenues of $209 million, an increase of 6 percent in quarter 4 of 2013, attributable to growth in North America, International, global specialties and UK facultative. 12 February 2014
Insurance
Atlas General Insurance Services, a national multi-line programme manager, has formed a new specialty division which will be headed by Scott Polkinghorne, who will be based in New York. 12 February 2014
Insurance
Tower Group International (TGI)’s chairman, president and CEO Michael Lee has resigned from the company to “follow personal interests” with immediate effect. 7 February 2014
News
A new reinsurer has been formed on Bermuda led by Greg Morrison, the former chief executive of Platinum Underwriters. It will operate through MultiStrat Re, a platform formed by Taussig Capital to help hedge funds and other investors tap into the reinsurance space. 5 February 2014
Insurance
Jardine Lloyd Thompson Group (JLT), has extended its Latin American operation with a 75 percent acquisition of SCK via JLT Brazil Holdings. 31 January 2014
Insurance
Some of the industry’s most influential companies including Lloyd’s of London, Allianz, Aon Benfield and Guy Carpenter have joined forces on a project that could revolutionise the way risk models are used by the industry. 29 January 2014
Insurance
Private equity firm KKR will acquire majority ownership of Sedgwick Claims Management Services for approximately $2.4 billion. 28 January 2014
News
The Cincinnati Insurance Company, one of the biggest 25 insurance companies in the US, has completed a $100 million cat bond that transfers the company’s risks associated with earthquakes on a per-occurrence basis, as well as severe convective storm losses on an aggregate basis. 27 January 2014
News
Kinesis Capital Management, the capital management division of Lancashire Holdings, has now started underwriting fully collateralised reinsurance business on behalf of Kinesis Reinsurance I, a Bermuda domiciled special purpose insurer, the company has revealed. 23 January 2014
Insurance
The growth of insurance-linked securities (ILS) helped Guernsey increase the number of insurers licensed on the island last year. 22 January 2014
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