News - Insurance
BELARUS: GWP y-o-y growth for January-July exceeded 15%
For the period of January-July 2018 Belarusian insurers generated BYN 705.2 million* of GWP (direct insurance and co-insurance). Annual growth of premiums (compared to the same period in 2017) amounted to 15.2%, as reported by the Ministry of Finance of the Republic.
11 September 2018PERILS takes over CRESTA secretariat
PERILS, the independent Zurich-based organization providing industrywide catastrophe insurance data, has announced that it has taken over responsibility for the ongoing management of the CRESTA Secretariat. The Secretariat was previously managed on a rotational basis by Munich Re and Swiss Re.
11 September 2018AXA-backed startup Fixter is expanding across the UK, to make motorists' life easier
Fixter, the AXA-backed, London startup founded in 2016 to enable the French-based insurer to better cover the British motor insurance market, has expanded in key regions across the country.
11 September 2018Moves on the Kazakh insurance market under the scrutiny of A.M.Best
A.M. Best will evaluate the impact that the merger transaction between the Kazakh Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh) and JSC IC Kazkommerts-Policy, on August 29, 2018, had on Kazakhinstrakh's Credit Rating.
11 September 2018QBE's received approval to move its European business to Brussels
QBE European Operations, the business insurance specialist, part of the Australian QBE Insurance Group, has received the High Court approval for moving its general insurance business written through its European branch network to QBE's new Belgian (re)insurance entity, QBE Europe SA/NV.
11 September 2018COFACE announces the signing of an agreement to acquire PKZ, a credit insurance subsidiary of SID Bank
Coface announced it has signed a binding agreement with the Slovenian public SID Bank, to acquire 100% of PKZ capital, a credit insurance subsidiary of SID Bank.
11 September 2018AXA obtained approvals for XL acquisition. Last day of independence for XL Group
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
11 September 2018FY2017 XPRIMM Property and Motor insurance reports to be launched in Monte Carlo
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants. 10 September 2018Starting 15 October, John NEAL will take up the Lloyd's CEO position
Lloyd's has confirmed the appointment of John NEAL, ex CEO of the QBE Group, Chief Executive Officer (CEO), to replace the departing Inga BEALE, effective as of 15 October 2018.
10 September 2018CCR Re consolidates its management base with several new appointments
To support its furthered development CCR Re, the full-service reinsurer operating on the French and international markets in the life, non-life and specialty lines of business, has announced five appointments in its management team.
10 September 2018S&P affirmed SCOR's rating at "AA-" with a "stable outlook"
SCOR announced that Standard & Poor's (S&P) affirmed the financial strength rating for the Group and its main subsidiaries at "AA-", with a "stable outlook", and maintained the counterparty credit ratings at "AA-/A-1+".
10 September 2018PIMCO hires John STUDZINSKI as Managing Director and Vice Chairman in its Executive Office
ALLIANZ announced that its premier fixed income investment managers - PIMCO, has hired John STUDZINSKI as Managing Director and Vice Chairman of PIMCO in its Executive Office. He will be based in PIMCO's New York office and will report to Emmanuel ROMAN, PIMCO's Chief Executive Officer.
10 September 2018Michel FONTAINE joins JLT Re's Paris office as Partner
JLT Re announced that Michel FONTAINE has been appointed as a Partner in the Paris office.
10 September 2018Vijay MAVANI to join JLT Re in 2019 as Partner, Capital Solutions
JLT Re said that Vijay MAVANI will join JLT Re as a Partner, Capital Solutions after he will complete his contractual obligations with his current employer. He is expected to start at JLT Re early in 2019.
10 September 2018MUNICH Re acquires tech company relayr
Reinsurer Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired the software company relayr, of which it will hold 100% of the shares upon completion.
10 September 2018SOMPO International chose Luxembourg for its post-Brexit European home
SOMPO International Holdings Ltd., a Bermuda based specialty provider of property and casualty insurance and reinsurance has chosen Luxembourg, as its European post-Brexit home, by establishing there its new subsidiary, SI Insurance (Europe).
10 September 2018A.M. Best upgrades Issuer Credit Rating of MAPFRE Re, Compañ
A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term
ICR) to "a+" from "a" and affirmed the Financial Strength Rating of A
(Excellent) of MAPFRE RE, Compania de Reaseguros, S.A. (MAPFRE RE)
(Spain).
10 September 2018Lloyd's Lab opens its doors to tech disruption
Following a global search for technology talent that drew more than 200 applications from 36 countries, Lloyd's Lab, the global insurance market's new innovation accelerator, opened its doors on 3 September.
10 September 2018Vincent VANDENDAEL to leave the Lloyd's of London corporation after almost six years
Lloyd's of London announced that Vincent VANDENDAEL will leave the corporation in early 2019, after almost six years, to join EVEREST Insurance as CEO of International Insurance. He is the second top executive, after CEO Inga BEALE, who's departure from Lloyd's was announced lately.
10 September 2018Hannover Re: broadly diversified reinsurers with expertise and a very good rating will benefit from the current state of the market
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
10 September 2018
