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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Ed has strengthened its Asia Pacific operations with the appointment of Marcus Taylor.
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.
Broker JLT Re has named Jeremy Fox as its new CEO for the Asia Pacific region, replacing outgoing head Stuart Beatty.
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.