News

Insurance

Allianz on track for 2019 targets, second quarter net income up 13.1%

German insurer Allianz enjoyed a strong second quarter 2019 with operating performance and net income rising above estimates, but its property/casualty operating profits fell back due to lower investment earnings.   5 August 2019

Insurance

UK's Saga strikes reinsurance deal with Hannover Re

Saga, a UK-based specialist insurer for life after 50, has entered into a new quota share arrangement with German insurer Hannover Re as well as with its current reinsurance partner NewRe, part of the Munich Re Group.   12 February 2018

Insurance

Former RSG MGA CEO resurfaces at Ascot/Ethos

Ascot Group has appointed Jerry Tegan, former president and CEO of RSG Underwriting Managers, as the executive chairman of Ethos Specialty Insurance Services.   12 February 2018

News

IAG again expands cat coverage by A$1bn at ‘flat’ renewal rates

Insurance Australia Group (IAG), which buys one of the biggest catastrophe reinsurance programmes in the world, has again increased the size of its programme to buy some A$9 billion ($6.3 billion) of coverage for 2019 - A$1 billion more than the year before.   3 January 2019

Insurance

Arch CFO returns to AIG as chief actuary for general insurance

American International Group (AIG) has rehired Mark Lyons as senior vice president and chief actuary, general insurance.   15 May 2018

Insurance

Chubb appoints Iberia president from Allianz

Insurer Chubb has appointed Ignacio Borja, most recently president and CEO at Allianz Seguros Colombia, as country president, Spain and Portugal (Iberia).   31 January 2018

Insurance

Monument Re acquires Talanx Luxembourg subsidiary Aspecta

Bermuda-based Monument Re has acquired the full ownership of Aspecta Assurance International Luxembourg, a life insurance undertaking based in Luxembourg with branches in Germany, Italy and Spain, according to a Jan. 30 press release.   31 January 2018

Insurance

US tax reform to lift P&C insurance earnings 14%: Morgan Stanley

The proposed House bill calls for 20 percent corporate tax rate, which could lift earnings of US property/casualty (P&C companies) by around 14 percent on average, according to Morgan Stanley analysts.   6 November 2017

Insurance

Hurricane Irma could cause industry loss above $100bn

Investors fear that a major hurricane hitting Miami area could lead to around $100 billion or higher industry losses, analysts wrote in a Sept. 6 Morgan Stanley research note.   7 September 2017

Insurance

Ex-AIG CEO Greenberg denies having admitted to fraud as claimed by NY attorney general

Former AIG boss Maurice “Hank” Greenberg has reiterated and reaffirmed publicly that he did absolutely nothing wrong while at the helm of the company.   14 February 2017

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