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Exin facing double deadline crunch in sprint to complete EUR720mn Ethniki deal

2018-02-16T08:36:00+00:00

Matt Fairfield’s inchoate pan-European insurer Exin is facing two separate deadlines - with one only days away - to buy Greece’s largest insurer, if Greek reports are correct.

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Sompo Canopius and Endurance hit by $631mn in hurricane losses

2018-02-14T12:56:00+00:00

Sompo Holdings’ largest international divisions - newly-acquired Endurance and Sompo Canopius - have racked up a 67.8bn yen ($631.2mn) bill from Hurricanes Harvey, Irma and Maria.

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Tokio Marine falls to nine month reinsurance and Europe loss

2018-02-14T12:45:00+00:00

Japanese insurance giant Tokio Marine’s reinsurance and European units both fell to a loss in the nine months to 31 December as catastrophe losses and currency fluctuations ate into the company’s profits for the period.

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MS Amlin swings to £589mn nine month loss

2018-02-14T11:40:00+00:00

MS Amlin has fallen to a £589mn ($815.7mn) loss for the nine month period to the end of December as the Japanese-owned carrier took a £171mn hit from the Californian wildfires.

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China regulator slams 19 P&C carriers for 'illegal and disruptive' products

2018-02-13T11:02:00+00:00

The China Insurance Regulatory Commission (CIRC) has issued regulatory letters to 19 property and casualty (P&C) carriers chastising the companies for selling products inconsistent with their mandate as insurers.

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Peak Re sells 13% stake to Prudential Financial

2018-02-13T10:08:00+00:00

Fosun-owned Hong Kong reinsurer Peak Re has struck a deal to sell 13.1 percent of its equity to US-based carrier Prudential Financial.

Swiss Re Building, 30 St Mary Axe

Swiss Re shares finish the week flat despite Softbank investment rumours

2018-02-12T16:21:00.47+00:00

Shares in Swiss Re closed flat last week despite reports suggesting Japanese investment giant Softbank was eyeing a $10bn in the big-four reinsurance giant.

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Marsh executives face criminal complaint in fresh aviation scandal

2018-02-08T14:01:00+00:00

Some of Marsh’s top executives in Asia as well as members of its aviation team are the subject of a criminal complaint in the Philippines after allegedly sharing confidential client information.

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Swiss Re confirms possible $10bn investment from Softbank

2018-02-08T08:18:00+00:00

Swiss Re has confirmed reports that Japanese investment giant Softbank is mulling a significant minority investment that could see it acquire around 30 percent of the European reinsurance powerhouse.

Auckland, New Zealand

AM Best downgrades CBL to B++ following Gibraltar under-reserving

2018-02-07T11:12:00+00:00

The New Zealand (re)insurer CBL Corp has seen AM Best downgrade its financial strength rating below the watershed A- rating following revelations earlier this week that it was significantly under-reserved for a controversial class of French construction business written out of Gibraltar.

Auckland New Zealand

NZ insurer CBL adds $100mn to reserves as Gibraltar run-off impact spreads

2018-02-05T13:13:00+00:00

Credit and financial risk carrier CBL Corporation is set to report a post-tax loss of between NZ$75mn and NZ$85mn ($55mn and $62mn) for 2017 after it said today (5 February) it would book a NZ$100mn reserve strengthening hit from a controversial class of French construction business written out of Gibraltar.

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Ed appoints Marcus Taylor head of reinsurance for Asia Pacific

2018-02-05T15:10:00+00:00

Ed has strengthened its Asia Pacific operations with the appointment of Marcus Taylor.

Asia

Global run-off market valued at $730bn: PwC

2018-01-17T15:52:00+00:00

The size of the global run-off market has hit $730bn with North America responsible for almost half of that total, a new survey has revealed.

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JLT Re hires Aon Benfield’s Fox as Asia-Pac chief

2018-01-15T12:11:00+00:00

Broker JLT Re has named Jeremy Fox as its new CEO for the Asia Pacific region, replacing outgoing head Stuart Beatty.

Ed Hochberg

Reinsurers concede ground to deliver muted rate hikes: JLT Re

2018-01-03T16:13:00+00:00

Despite an early push from reinsurers to achieve more substantial rate hikes at 1 January, many conceded ground as the key renewal date approached, according to JLT Re’s North America CEO Ed Hochberg.