News
Insurance
Bermuda-based Enstar Group has terminated its $2.68 billion loss portfolio transfer (LPT) deal with Maiden Holdings, and replaced it with a new $675 million adverse development cover (ADC). 4 March 2019
Insurance
UK government-backed terrorism mutual reinsurer Pool Re has completed a £2.3 billion terrorism retrocession placement led by Munich Re. 1 March 2019
Alternative Risk Transfer
The future of Markel CatCo looked less certain today as the company’s board said it would “recommend an orderly run-off” of the firm's portfolios. 1 March 2019
Alternative Risk Transfer
UnipolSai Assicurazioni, one of the biggest insurers in Italy, has placed a €45 million catastrophe bond providing it with protection against perils in Italy including atmospheric phenomena, snow pressure and flood risks (including Vatican City and San Marino Republic). 1 March 2019
Insurance
Germany's Allianz has appointed Hans-Joerg Mauthe as regional CEO, Central & Eastern Europe (CEE), of its commercial insurance arm Allianz Global Corporate & Specialty (AGCS). 1 March 2019
Insurance
Allianz has appointed Claudia Salem as its new chief executive officer, property & casualty for Asia Pacific. 1 March 2019
Insurance
Reinsurance broking and risk/capital management firm TigerRisk Partners has hired a Florida market reinsurance veteran from Jardine Lloyd Thompson Group (JLT). 1 March 2019
Insurance
Cincinnati Financial Corporation has completed the acquisition of MSP Underwriting from Munich Re. The all-cash transaction values £102 million. 1 March 2019
Alternative Risk Transfer
Despite a multitude of other catastrophes in 2018, the single biggest loss event for reinsurers was so-called loss creep from 2017’s Hurricane Irma. Dirk Lohmann of Schroders examines what went wrong and what the industry must learn. 28 February 2019
Insurance
Bermuda-based reinsurer Third Point Re posted a net loss for both the fourth quarter 2018 and the full year, driven by "poor investment performance combined with modest catastrophe losses", according to its CEO Rob Bredahl. 28 February 2019
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