Lloyd’s of London, would be less appealing to investors outside Britain if the country voted to leave the European Union, its chairman John Nelson said, as the group reported a drop in profit last year. Lloyd’s, which groups more than 80 insurance syndicates, is making contingency plans for setting up offices elsewhere...
At the January 1, 2016 renewals, SCOR Global P&C has managed to maintain expected technical profitability compared to January 2015, while recording gross premium growth of two percent at constant exchange rates, to EUR3 billion. SCOR Global P&C achieves sustainable growth in spite of the pressures on prices worldwide, in...
Representatives from the US and European Union met recently to discuss a possible unified framework for reducing insurance companies’ risk of insolvency, a plan that could have major consequences for US insurers, stated a report in the Wall Street Journal. The move comes after the EU’s unified regulatory approach for insurance...
Swiss re has announced that its chief executive will be retiring, and posted a 31-percent hike in net profit in 2015 as the costs linked to natural disasters slid. Swiss Re said its chief executive Michel Lies, 62, was set to retire after 35 years in the company and would...
Nearly 14 percent of M&A policies written globally by American International Group, Inc. resulted in a claim, according to a study of the global insurer’s representation and warranties (R&W) insurance claims data between 2011 and 2014. The study suggests a significant number of M&A transactions worldwide may see issues arise...
Google is closing down Google Compare, its comparison site that served up deals for a range of financial products, including credit cards, mortgages and travel/home insurance policies. Google Compare was limited to the US and UK only, and it will disappear from the web by March 23, Google said in a letter to partners — who supplied...
Cobalt Insurance Holdings Ltd, a provider of Shari’ah compliant insurance and reinsurance has announced a strategic investment by Armour Group Holdings Limited, the Bermuda-based diversified insurance group. The strategy of Armour focuses on niche operations in the re/insurance and asset management sectors. The investment coincides with additions to the Board...
ACE Limited announced that it has completed its acquisition of Chubb, creating a publicly traded property and casualty insurance company. ACE paid approximately USD29.5 billion in the aggregate in cash and stock, based on the most recent closing price of ACE Limited shares and the number of outstanding shares of The Chubb...
The latest Risk Barometer 2016 by Allianz highlights disruptive events, fierce competition in markets and cyber incidents as key concerns for businesses in 2016. Over 800 risk managers and insurance experts from more than 40 countries were surveyed. According to the Allianz Risk Barometer business and supply chain interruption (BI)...
Lloyd’s of London has announced that a set of common core data requirements for cyber risks has been agreed through ground breaking collaboration with modelling firms AIR Worldwide (AIR) and RMS with the Cambridge Centre of Risk Studies. Both AIR and the RMS/Cambridge team have agreed to highlight common elements...
