News

Insurance

VAT introduction could cause cash-flow issues for Gulf insurers

Given the fiscal pressures in the member states of the Gulf Cooperation Council (GCC), the introduction of value added tax (VAT) seems inevitable and could cause short-term cash-flow issues for insurers, according to AM Best.   6 June 2017

Insurance

Ed bolsters reinsurance unit with new hire from Willis Re

Reinsurance, wholesale and specialty broker Ed has appointed Ian Wicks as chairman of non-marine reinsurance.   6 June 2017

Insurance

Modernising underwriting: from segregation to integration

Separation between lines of business might be rational and convenient but it is inevitable that the differentiation will gradually disappear and integration will take its place, writes Yannis Spanoudakis from Matrix Brokers.   5 June 2017

Insurance

XL Catlin taps Zurich exec to expand Canadian operations

Re/insurer XL Catlin has opened its first political risk, credit and bond (PRCB) insurance practice in Canada, and appointed Marvin Azzopardi as senior underwriter.   31 May 2017

Insurance

TMK launches visual effects and post production media insurance cover

Specialist insurer Tokio Marine Kiln (TMK) said that it has launched a visual effects (VFX) and post production media insurance offering.   25 May 2017

Insurance

CF Corporation in $1.84bn Fidelity & Guaranty Life acquisition

The boards of CF Corporation and Fidelity & Guaranty Life (FGL) approved a definitive merger agreement under which CF Corp. will acquire FGL for a total of approximately $1.84 billion, plus the assumption of $405 million of existing debt.   25 May 2017

Insurance

QBE Insurance appoints new group chief financial officer

QBE Insurance Group has appointed Michael Ford as permanent group chief financial officer (CFO). He will be based in Sydney.   25 May 2017

Insurance

XL Catlin elevates McAdams to global marine CUO

Re/insurer XL Catlin has promoted Rob McAdams to the position of chief underwriting officer for global marine.   25 May 2017

Insurance

Towergate parent in £800m debt issuance

KIRS Group, the holding company being created to combine Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate, is launching a secured bond offering for an aggregate principal amount of £800 million, alongside committing to enter into a £90 million super senior revolving credit facility.   25 May 2017

Insurance

Liberty Mutual appoints chief underwriting officer of energy unit

US-based insurer Liberty Mutual has appointed Jessica Dekermanji as senior vice president and chief underwriting officer of its national insurance specialty energy unit.   25 May 2017

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