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Insurance
The members of the Association of Bermuda Insurers and Reinsurers (ABIR) made a direct contribution of $834.3 million to Bermuda’s economy in 2015, according to the association’s 11th annual ‘Bermuda Economic Impact Survey’. 18 August 2016
Insurance
AM Best has placed under review with developing implication the financial strength rating of A+ of Arch Reinsurance and its strategic affiliates, after Arch Capital agreed to acquire United Guaranty Corporation and AIG United Guaranty (Asia) from American International Group (AIG). 18 August 2016
Insurance
QBE Insurance Australia has appointed Declan Moore to the role of chief underwriting officer, effective August 22. 18 August 2016
Insurance
In order to protect margins in the current low interest rate and soft market environment, QBE is determined to fend off brokers’ demand for fee increases, strengthen direct distribution and avoid business in the Lloyd’s market as this comes at higher cost. 17 August 2016
Alternative Risk Transfer
The rating of at least one insurance-linked security (ILS) may be affected by changes to default tables included within a new methodology and central repository that rating agency AM Best has launched that relates to the ILS sector. 17 August 2016
Insurance
Sompo Canopius has appointed Mark Newman as chief executive officer (CEO) of Asia Pacific, Middle East and North Africa (MENA), as part of an expansion of the business to look at broader geographical coverage. 17 August 2016
Insurance
Neon has expanded its political violence team with the appointment of Greg McPhee as its head, effective October 1. 17 August 2016
Insurance
While rates are showing signs of flattening out, the soft market is far from over and reinsurers are having to make tough choices on retaining market share versus protecting profits. Intelligent Insurer reports. 16 August 2016
Insurance
Arch Capital Group is to further expand its footprint in the mortgage insurance market by acquiring two businesses from American International Group (AIG) for around $3.4 billion. 16 August 2016
Insurance
Tokio Marine Kiln (TMK) has expanded its property owners team with the appointment of Stuart Somerville as senior underwriter. 16 August 2016
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