National Bank of Greece SA has halted the sale of its insurance unit – Ethniki Insurance – after the coronavirus pandemic has thwarted expectations of a successful auction, according to a Financial Times report. Bids for the unit came in lower than expected, prompting the Greek lender to put the divestment...
Guy Carpenter & Company, LLC has announced that it has entered into a strategic relationship with RiskGenius, on the detection and qualitative analysis of silent cyber exposure across various lines of business. RiskGenius utilises artificial intelligence to evaluate a variety of emerging risks across an entire portfolio of insurance policies....
AM Best has announced that the ratings agency is developing stress testing that it will conduct on its rated insurance companies’ balance sheets to gauge the impact of the COVID-19 virus fallout on their risk-adjusted capital levels, investment portfolios, reserve adequacy and other aspects of the risks borne by rated entities....
Aon plc and Willis Towers Watson have announced a definitive agreement to combine in an all-stock transaction with an implied combined equity value of approximately USD80 billion with a view to accelerate innovation to benefit clients. “The combination of Willis Towers Watson and Aon is a natural next step in our journey...
The volume of mergers and acquisitions (M&A) in the insurance sector increased 10 percent in 2019 with 419 deals completed worldwide, up from 382 in 2018. Activity was driven by an exceptionally strong first half of the year, led by a spike in deals in Europe that had been put on...
Guy Carpenter & Company, LLC announced that it has entered into a global, multi-year agreement with Karen Clark and Company (KCC) to license their catalogue of natural catastrophe models, execution software and analytics. The agreement will provide Guy Carpenter’s clients with access to KCC’s contemporary suite of natural peril models,...
The risk exposures that underwriters of directors and officers (D&O) liability face have expanded significantly in recent years, in the increasingly complex and interconnected business environment. A recent report by international rating agency AM Best has stated that escalating litigation and regulatory risks present growing challenges while new, event-driven exposures...
SCOR acquires control of AgroBrasil Administração e Participações Ltda (AgroBrasil), Brazil’s family-owned leading Managing General Agent distributing fruit and grain loss of crop quality and yield insurance protection to Brazilian farmers. The AgroBrasil acquisition secures access to a growing and profitable market for SCOR’s P&C reinsurance and specialty insurance activities...
Lloyd’s has published its execution plans for the first phase of the Future at Lloyd’s in an online update to Blueprint One. As part of those plans, Lloyd’s also confirmed that the Corporation will take a 40 percent stake in the London Market’s electronic placing platform (PPL), which will form...
AXA Liabilities Managers (AXA LM) has agreed to acquire RenaissanceRe (UK) Limited (RRUKL), a company currently in run-off, from RenaissanceRe Holdings Ltd. (RenaissanceRe). The acquisition, which is expected to close later this year, is subject to regulatory approval and will be made through an investment vehicle managed by AXA LM. Formerly known...
