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Property and casualty insurer Novae Group has entered into a quota share agreement with Fidelis Insurance Bermuda (FIBL) covering Lloyd’s Syndicate 2007’s US property catastrophe treaty excess of loss portfolio for 2017. 29 March 2017
Insurance
Chinese conglomerate Fosun said that its Bermuda-based specialty property/casualty insurer Ironshore made a net profit of $115.7 million in 2016 while producing an underwriting loss with a combined ratio of 102.1 percent. Premium income was 2.20 billion during the period. 29 March 2017
Insurance
Following the acquisition of Bermuda-based Endurance, Sompo Japan Nipponkoa Insurance has launched a fully integrated global commercial insurance and reinsurance platform based in Bermuda, which has been named Sompo International. The new corporation will have its own board, led by John Charman as chairman and CEO, reporting to the Sompo CEO Kengo Sakurada. 29 March 2017
Insurance
Chaucer, an insurance group underwriting at Lloyd's, has appointed Joe Murphy as senior class underwriter in its casualty division. 29 March 2017
Insurance
The pressure and risks faced by insurers in Europe are increasing further in 2017, pressuring profitability and return on capital, according to China-based credit rating agency. 29 March 2017
Insurance
Former Endurance CEO Ken LeStrange retired as the chairman of US-based Orchid Underwriters' board of directors, the company said. He will be replaced by Steven Carlsen, who was also a founding member of Bermuda-based Endurance Specialty Holding. 28 March 2017
News
Pool Re, a mutual reinsurer that provides terrorism cover for commercial property in the UK, has appointed Andrew Sean Donaldson as deputy head of risk analysis. 28 March 2017
News
Acappella Syndicate 2014 has promoted Jim Quinn to the new role of head of the reinsurance division, and Matthew Bellamy to the position of head of property reinsurance. 27 March 2017
Insurance
Specialist commercial insurer CNA Hardy, re/insurance broker THB, and cybersecurity specialist Waterfall Security Solutions have entered into a partnership to provide a new cyber security protection package for industrial businesses globally. 27 March 2017
Insurance
In recent months, life insurance has lost some of its appeal as demand for bank deposit savings surpassed traditional life insurance, AM Best said in a report. 27 March 2017
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