News
Insurance
Bermuda specialty re/insurer Sompo International Holdings has unveiled a new subsidiary in Luxembourg, which will cover business written in Continental Europe and have branches in Belgium, France, Germany, Italy, Spain and the UK. 4 September 2018
Insurance
Insurance service provider Davies Group has acquired the claims business of Ardonagh-owned Direct Group while signing a long-term claims management deal with the UK-based insurance intermediary. 16 October 2018
Insurance
Bermuda-based specialty property/casualty re/insurer Sompo International Holdings has launched an integrated platform initiative to provide agriculture insurance and reinsurance solutions across the globe, according to an Oct. 31 statement. 1 November 2017
Insurance
Bermuda-based XL Group has appointed global corporate controller Stephen Robb as the new chief financial officer (CFO), succeeding Peter Porrino, who is set to retire in May 2017. 23 February 2017
News
The National Reinsurance Corporation of the Philippines (PhilNaRe) has appointed Augusto Hidalgo as president and chief executive officer. 22 April 2014
Insurance
Italian insurer Generali has entered into a share purchase agreement with Life Company Consolidation Group (LCCG) to sell its entire shareholding in Generali Worldwide Insurance Company and Generali Link. 19 July 2018
Insurance
American International Group (AIG) has been loss-making for the last two years, but the reported 2017 net loss of $6.08 billion hides improvements on the operating side as a more in-depth look into the numbers reveals and CEO Brian Duperreault is working on getting the insurance giant back on a growth path. A changed reinsurance cover structure is also part of the plan. 22 February 2018
Insurance
AXIS Re plans to fundamentally change its offering by becoming more client-focused, offering bespoke, structured, reinsurance deals and expanding its footprint in Asia. By doing this, and making other changes, it is targeting becoming a top 10 reinsurer, Steve Arora, chief executive of AXIS Re, told Monte Carlo Today. 11 September 2018
Alternative Risk Transfer
UnipolSai Assicurazioni will buy more property-catastrophe capacity this year and will not renew its €200 million ($231 million) cat bond Azzurro Re I, which expires on December 31, 2018. Instead, it will rely on its existing panel of 17 reinsurers for support until it explores the possibility of issuing a new cat bond in the first quarter of next year. 11 September 2018
Insurance
RICAP Bermuda, being trialled in Bermuda, will bring risks closer to capital and make the industry more efficient and transparent. That is just the start of what could become a global revolution, as Kathleen Faries told Monte Carlo Today. 9 September 2019
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