Axco Insurance Information Services has launched Insight Re, its first service to focus exclusively on the global reinsurance regulatory environment. Insight Re provides the regulatory and legislative information necessary to help reinsurers achieve global compliance and ensure the correct payment of local taxes and charges. Axco has stated that the...
A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a+” of Transatlantic Reinsurance Company and its subsidiaries, Fair American Insurance and Reinsurance Company, Fair American Select Insurance Company, TransRe London Limited (United Kingdom) and Trans Re Zurich Ltd. (Switzerland), collectively...
Gov. Charlie Baker will file legislation allowing Uber, Lyft and other app-based ride-for-hire services to legally operate in the state of Massachussetts after months of heated public hearings. “Massachusetts has always been at the forefront of emerging technologies, with this legislation providing a modern regulatory framework to embrace innovation and...
Willis Group Holdings Plc, the third-largest insurance broker, offered to buy the 70 percent of Gras Savoye that it doesn’t already own to expand in France, Eastern Europe and the Middle East. Willis will pay EUR550 million (USD590 million), a sum that includes the repayment of outstanding third-party debt, the...
For publicly traded reinsurance companies (including the four large Europeans – Munich Re, Swiss Re, Hannover Re, SCOR) stock prices ended 2014 below the overall market, driven by the increase volatility in the stock market during the summer and fall, augmented by continued concerns over the decline in pricing for...
Swiss Re Corporate Solutions has partnered with IBM Security to provide advanced cyber risk protection products and services to companies worldwide. The IBM – Swiss Re Corporate Solutions agreement helps businesses defend themselves against increasingly sophisticated cyber attacks. The agreement combines IBM's outstanding knowledge of information technology security with...
AXA Liabilities Managers (AXA LM) announced the signing of the acquisition of the GERA Pool (European Aviation Reinsurance Group), which came into effect on January 1, 2015. The transaction, in which AXA LM took over the shares of the existing 25 pool members, was conducted by AXA LM’s investment vehicle...
A report entitled “UK Cyber Security: The Role of Insurance in Managing and Mitigating the Risk” published by Marsh, was created with the following aims: to help firms “get to grips with cyber risks,” to establish cyber insurance as part of firms’ “cyber tool-kits” and to make London the global...
Insurance brokers Hyperion and RK Harrison have finalised their merger, four months after the negotiations were revealed but almost five years since the pair first talked about combining. The deal, which creates a firm with GBP400 million of annual revenues, is the latest merger in a wave of consolidation sweeping...
The joint venture between ACE and fund manager Blackrock, ABR Re, will seek to raise up to USD1.3 billion of capital. This was stated in a Securities and Exchange Commission filing, which noted that the vehicle is seeking to raise funds between USD800 million and USD1.3 billion. The document estimates...
