April 24, 2019

Looking West

Looking West

Aon will not do business with WTW

Aon has confirmed in a statement that the company is not considering a potential all-share business with Willis Towers Watson. News of Aon’s consideration to merge with Willis Towers Watson became public and Aon was required to issue a statement because Willis Towers Watson is an Irish company and is subject to...

PRA, FCA host first CFRF meeting

UK’s Prudential Regulatory Authority (PRA) and FCA (Financial Conduct Authority) recently hosted the first meeting of the Climate Financial Risk Forum (CFRF). The objective of the CFRF is to build capacity and share best practice across financial regulators and industry to advance financial sector responses to the financial risks from...

Lockton steps into reinsurance

Lockton has announced the formation of a new global reinsurance business named Lockton Global Re. This investment in the US and across the globe will be led by an elite leadership team, including Tim Gardner, current CEO of North America Operations for Guy Carpenter, Claude Yoder, current managing director and...

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Hamilton to acquire Pembroke, Ironshore Europe

Hamilton Insurance Group, Ltd. recently announced that it has signed a definitive agreement with Liberty Mutual Group to acquire the Pembroke Managing Agency Limited platform at Lloyd’s and Ironshore Europe DAC (IEDAC). Upon closing, the transaction will almost double Hamilton’s total premium base. The complementary profile of Pembroke and IEDAC’s...

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L&G completes buy-in with Howden Pension

Legal & General Assurance Society Limited announced that it has completed a GBP230 million buy-in for all the pensioner and deferred members of the Howden Group Pension Plan, covering nearly 2,000 members in total – with around 2/3 being current pensioners. This transaction for the Howden Plan follows on from...

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Mental health care covered: NF

National Friendly has decided to offer cover for mental health care, a line of business that is not often visited by insurance companies. Statistics published by the Mental Health Foundation, the UK’s charity for mental health, suggest that in England, women are more likely than men to have a common mental health problem...

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Allianz, Generali, Liberty in bancassurance bid

Allianz, Generali and Liberty Mutual are bidding against each other to invest in the bancassurance arm of Spanish banking organisation BBVA, according to a Reuters report. The sale is reportedly let by Bank of America and kicked off towards the end of 2018. It will comprise of a joint venture...

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GC Securities places first terrorism Cat Bond

GC Securities has announced the placement of GBP75,000,000 Series 2019 Principal At-Risk Variable Rate Notes issued through Baltic PCC Limited, a protected cell company domiciled in the UK, on behalf of Pool Re. The cat bond provides multi-year, indemnity retrocession protection for terrorism risk in the UK and breaks new...

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Mapfre analyses, ranks global health systems

Mapfre’s recent research into global health systems has shown that Japan and Singapore possess the best health systems with respect to a variety of parameters. The Health systems: a global analysis report, prepared by Mapfre Economic Research, has identified key elements regarded as best-practices, such as: medium- and long-term savings...

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Brexit, economy brokers’ top concerns: Aviva

UK broker businesses are growing increasingly concerned about Brexit uncertainty and the economic climate – but won’t let this affect their plans for growth, according to Aviva’s latest Broker Barometer survey. Significantly fewer brokers feel the economic climate is having a positive impact than six months previously, according to new research by Aviva....

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