Aspen Insurance Holdings Limited reported net income after tax of USD114.4 million and operating income after tax of USD89.9 million for the first quarter of 2016. Chris O’Kane, chief executive officer, commented, “Aspen has started the year well, with solid first quarter underwriting results from our insurance and reinsurance businesses contributing...
Lloyd’s of London’s specialty insurance group, Chaucer, has formed a strategic partnership with AXA to develop a new specialty insurance business in Africa. Faced with low interest rates in the US and the Eurozone, insurers are looking to emerging markets for growth, according to Reuters. The insurance market in sub-Saharan Africa is...
American International Group Inc., Hamilton Insurance Group, Ltd., and affiliates of Two Sigma Investments, LP announced recently that they have entered into a non-binding memorandum of understanding to form a joint venture that will establish a technology-enabled, customer-centric insurance platform for the Small to Medium-sized Enterprise (SME) market. The joint...
Global reinsurance firm SCOR has posted a slight decrease in its net income for the first quarter of 2016 – down to EUR170 million, compared with EUR175 million at the same time in the previous year. Despite this fall, the firm’s gross written premiums (GWP) grew to EUR3.3 billion in...
The global threat of rising sea levels and warmer sea surface temperatures as a result of climate change is an area in which the entire risk transfer landscape must increase its efforts, and capitalise on the opportunity to improve resilience, according to risk management and reinsurance industry experts. At the...
German insurer Allianz is looking to sell a USD5 billion portfolio of life insurance policies in Italy, according to sources. Europe's biggest insurer has selected Goldman Sachs to run the sale of the closed life policies, which no longer accept new business but remain on an insurer's books as premium...
Venture capital provider BP Marsh & Partners PLC has said it has bought a 20 percent shareholding in Asia Reinsurance Brokers Pte Ltd. Asia Reinsurance is a Singapore-based reinsurance and insurance risk services provider. BP Marsh will pay approximately GBP 1.2 million to acquire the stake, with an option to...
After many acts of terror, the demand for specialist insurance to cover losses arising from such happenings are increasing pressure on premiums, note underwriters and brokers. Insurers have generally excluded the risks of such attacks from standard property, event cancellation or travel insurance policies since the 9/11 attacks in New...
Reinsurance Solutions Group has announced the launch of its newly opened London subsidiary, Reinsurance Solutions London Ltd. Reinsurance Solutions is a Mauritius-based reinsurance broking group trading across Africa with head office in Mauritius and subsidiaries in Kenya, Cote d’Ivoire, and now London. The group, established 20 years ago, has grown...
Guy Carpenter & Company reported that 2015 marked one of the strongest El Niño periods on record, while a positive phase of the North Atlantic Oscillation (NAO) was evident both at the beginning and close of the year. According to Guy Carpenter’s Global Catastrophe Review – 2015, although these prominent...
