News
Insurance
Despite the global economic crisis and the upheavals of the Arab Spring, the Middle East and North Africa is looking particularly attractive to re/insurers in 2013. Jenny White explains why. 16 April 2013
Reinsurance
Two years after he took the reins at Guy Carpenter, Alex Moczarski, its president and chief executive, discusses his achievements so far, the challenges ahead and why innovation and traditional values need not be a contradiction. 16 April 2013
News
Asia Capital Reinsurance Group (Asia Capital Re) has opened a branch office in the Dubai International Financial Centre (DIFC). It says strong economic growth in the Middle East combined with substantial investments in infrastructure in the region means many opportunities for reinsurers. 5 April 2013
Insurance
Miller has appointed senior executives into its corporate risks and reinsurance teams. 27 March 2013
Insurance
Demand for transactional risk insurance grew by 41 per cent globally in 2012 as firms increasingly turned to the insurance market to protect large deals and cross-border acquisitions or sales. 15 March 2013
Insurance
A strong set of results announced by the private equity backed Nexus Group could set it on course to become the largest independent managing general agency (MGA) in the London Market. The group has expanded quickly since its formation in March 2010 through a series of mergers and acquisitions. 13 March 2013
Insurance
Novae Group has posted its 2012 results. It made a pre-tax profit of £49.3 million compared with a loss of £6 million last year, its gross written premiums decreasing to £612 million from £624 million in 2011. Its combined ratio for the year was 90.5 per cent, a big improvement on the 101.5 per cent it posted in 2011. “Three years ago we set out our objectives for driving up the returns of the group by re-engineering our business mix and by rigorously managing capital and costs. Three years on, this strategy has delivered a steadily improving group performance particularly in 2012 delivering a return on equity of 17.6 per cent,” said Matthew Fosh, group chief executive. 13 March 2013
Insurance
Bermuda-based MS Frontier Re has appointed a new president and CEO. Starting on April 1, Toshiya Naito will take over the role from Keiichi Nakajima who will return to Japan to take on new responsibilities within MS Frontier Re’s parent company. Naito is a 25-year veteran with Mitsui Sumitomo Insurance Company, the parent company and sole shareholder of MS Frontier Re. MS Frontier Group recently completed a reorganisation on January 1 which saw the closure of MS Frontier Re’s sister office in Dublin. 13 March 2013
Insurance
Senior executives at JLT Reinsurance (North America) believe a structure used in a recent deal that helped Citizens Property Insurance Company, Florida’s residual insurance company, transfer 31,000 policies to a new company and reduce its exposure by some $30 billion in the process could lead to similar deals in the future and opportunities for JLT Re as a result. 5 March 2013
Insurance
A number of recent acts of terrorism and violence against energy companies and their facilities around the world have led to an upsurge of interest in terrorism and political violence coverage. This is being matched by buoyant levels of capacity in the sector, despite a sense of unease among insurers underwriting these risks. 28 February 2013
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