An unnamed Lloyd’s syndicate has assumed liability for 177,00 policies that were written by the now-defunct Danish insurer Alpha.
Echelon Insurance, the former owner of the Danish insurer Qudos, has denied allegations of wrongdoing made by London-headquartered alternative investment firm New Nordic earlier this week over the 2017 sale of the unrated European carrier.
Top line in Hannover Re’s property and casualty division swelled by 19.2 percent in the first half of the year driven by a surge in demand for structured reinsurance solutions, the big four reinsurer has said.
European Insurance powerhouse Zurich has reported an improved business operating profit in its P&C division in the first six months of the year, up 11 percent to $1.14bn.
AIG has confirmed it has snared Aspen Re’s CEO Thomas Lillelund, as revealed by re-Insurance.com..
German powerhouse Munich Re’s property and casualty reinsurance division was pushed to an underwriting loss in the second quarter as a significant bill for man-made disasters sent its combined ratio over 100 percent.
Scandinavia-focussed alternative investor New Nordic says it is poised to sue the former owner of its Danish insurer Qudos for “misrepresentative and fraudulent acts” following its acquisition of the carrier in 2017.
Reinsurance giant Munich Re has become the latest in a line of carriers to curb investment in coal related risks.
Swiss Re has posted a 38 percent year-on-year bump in property and casualty net income, which leapt to $752mn for the first half of the year on the back of improved underwriting returns.
Allianz’ specialty arm AGCS was one of the drivers behind a 3.4 percent uptick in premium at the German insurance giant, which blamed weather losses for a marginal deterioration in its combined ratio in the second quarter.
Italian insurance giant Generali has posted an improved combined ratio in its key P&C division in the first half of the year despite being hit by EUR139mn ($162.3mn) of catastrophe events.
Top-tier reinsurer Scor has posted a combined ratio of 91.4 percent in its key P&C division in the first half of the year fuelled by lower natural catastrophe losses, modest pricing improvements and new business wins.
The former chairman of Lloyd’s, John Nelson, has lambasted the UK government for failing to negotiate suitable terms for Britain’s exit from the European Union.
Chubb has converted its European business into a Societas Europaea ahead of a move to France as it gears up for Brexit.
Tokio Marine HCC has appointed Luc Reuter head of surety for Continental Europe as the carrier looks to expand its operations on the continent.
Gras Savoye, France’s largest insurance broker, has unveiled a dedicated three-strong facultative team, the firm’s parent Willis Towers Watson announced today (23 July).
Mapfre has reconfigured its global operations, with its commercial (re)insurance arm – Mapfre Global Risk (MGR) – largely being split up and transferred to other business units.
Long-serving Munich Re CFO Jörg Schneider will retire from the reinsurer’s board of management at the end of the year, with Ergo Group CFO Christoph Jurecka taking his place.
AmWins-owned broking house THB has named Ricardo Borges managing director of its European operations amid a restructuring of the leadership team in Amsterdam.