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


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


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


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


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


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


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.

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Swiss Re shares finish the week flat despite Softbank investment rumours


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


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


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.

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


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.

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


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


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


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


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


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

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Reinsurers concede ground to deliver muted rate hikes: JLT Re


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.