Ed, the global reinsurance, wholesale and specialty broker, has announced that a subsidiary of BGC Partners, Inc (BGC), a global brokerage and financial technology company, has agreed to acquire Ed Broking Group (Ed), subject to a number of conditions, including regulatory approvals. Under the terms of the agreement, a subsidiary of BGC will...
The World Bank recently launched a new USD150 million fund intended to help insure vulnerable countries against natural disasters and the increasing risk of climate change-linked crises. The announcement follows a string of recent natural disasters across the world including record storms and a series of deadly quakes in Indonesia,...
The Financial Conduct Authority (FCA) has concluded a supervisory document on insurance pricing practices as part of its 2018/2019 Business Plan. The FCA has decided that a package of measures is necessary following this initial work. These include addressing conduct by firms, a market study on general insurance (GI) pricing...
End investors, Insurance-Linked Securities (ILS) funds, and buyers – the three groups active in ILS – have predominantly weathered 2017 loss activity with a view that reinsurance products backed by ‘alternative’ capital have become mainstream, according to a new Global ILS Market Survey by Willis Towers Watson. The unique survey...
With data breaches and cyber attacks appearing regularly in the news, including some very high-profile cases affecting millions of people, cyber risk has become a hot topic for insurers and reinsurers. SCOR’s Zurich office recently hosted a Cyber Insurance Forum – “Are silent and non-affirmative cyber risks everywhere? – ”...
Lockton has announced that the New York-based operation will facilitate investment banking and capital markets transactions focused upon the convergence between insurance and alternative capital. Lockton is launching the business in partnership with Antarctica Capital, a New York-based private equity firm. Vishal Jhaveri will be CEO of Lockton Capital Markets....
AXA recently announced that it had completed the acquisition of XL Group Ltd. The completion of the transaction follows the fulfillment of customary closing conditions, including approval by XL Group shareholders and obtaining of all necessary regulatory approvals. XL Group’s specialty and large corporate P&C platform, complements and diversifies AXA’s...
Nestle has agreed to sell its Gerber Life Insurance unit for USD1.55 billion (EUR1.3 billion), in the company’s latest bid to redouble its focus on food and beverage. The Switzerland-based company said the deal with Western & Southern Financial Group does not affect the iconic Gerber baby food unit, which...
Marsh & McLennan Companies, Inc has announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc.
Intensifying climate risks such as extreme weather events, present significant challenges for the insurance sector and warrant “ongoing and intensifying scrutiny” by supervisors, highlights new a new paper from the International Association of Insurance Supervisors (IAIS) and the Sustainable Insurance Forum (SIF). The Issues Paper on Climate Change Risks to...
