News
Insurance
Reinsurers are particularly exposed to the UK’s decision to lower the Ogden personal injury discount rate by far more than expected, which is boosting victims’ compensation and the need for reserves, impacting the profitability of the business. 21 March 2017
Insurance
Bermuda-based re/insurer Sompo International has hired Alison Wood and Lorene Phillips for its global casualty reinsurance team in London. 13 November 2017
Insurance
UK-based Aviva said that it has completed the sale of its 50 percent shareholding in life insurance and pension joint ventures Unicorp Vida and Caja España Vida, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía Compañía de Seguros y Reaseguros. 18 September 2017
Alternative Risk Transfer
Allianz is targeting an expansion in alternative risk transfer ART) through a new structure and leadership at its corporate solutions unit Allianz Global Corporate & Specialty (AGCS). 9 October 2018
Insurance
The overall cost to insurers and reinsurers of the UK’s change in the personal injury Ogden discount rate is estimated at £3.5 billion across all lines of business, according to advisory firm EY. 16 June 2017
Insurance
Specialist commercial insurer CNA Hardy has confirmed its plan to exit property treaty, marine hull and construction/erection all risks (CAR/EAR) business on the Lloyd’s platform. 8 October 2018
Insurance
Insurer Chubb has appointed Tressie Norton as senior underwriter, transactional risk, for the UK and Ireland in a bid to expand its insurance capabilities in this area. 16 June 2016
Insurance
Re/insurance broker UIB has launched a retail broking business in Colombia to be headed by Yolanda Guerra as chief executive officer. 5 April 2018
Insurance
Fairfax Insurance Holdings, the re/insurance conglomerate which includes OdysseyRe, Allied World and Brit, posted stellar growth and big profits in the first quarter of 2018 though its growth was largely due to premiums from Allied World, which it acquired in July last year, being added for the first time. 4 May 2018
Insurance
Argo Group posted strong growth in the first quarter of 2018 driven by its liability, professional and speciality lines in both its US and international books of business. Its profits dipped slighted because of higher expenses and changes in the value of its equity securities. 4 May 2018
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