The administrators for defunct New Zealand carrier CBL have put on ice plans for a meeting to establish the insurer’s fate as they work to thrash out a last-ditch deal with the firm’s directors.
The PRA conducted six investigations into the regulatory reporting, risk management and controls of insurance firms last year, double that of 2016.
Bermuda will have an InsurTech regulatory sandbox regime in place by the end of July in the latest sign of the island’s commitment to having a flexible regime that can adapt quickly to technological change.
Efforts by Pool Re to extend its coverage to include non-physical damage business interruption have moved a step closer to success as a bill that would grant the terror mutual authority to write the cover was read in parliament today (7 June).
QBE has been granted a license for its new Belgian subsidiary, which will serve as the Australian carrier’s European hub in the wake of Brexit.
AmTrust has offered its counter punch to activist investor Carl Icahn’s scathing critique of the firm’s valuation of its $13.50 per share in its go-private deal with Stone Point Capital, calling the billionaire’s valuation “highly flawed” and selective in favour of his own interests.