Index identifies tax avoidance centres

Index identifies tax avoidance centres

Index identifies tax avoidance centres

Ten jurisdictions, many of which are important captive insurance company domiciles, are responsible for over half (52%) of the world’s corporate tax avoidance risks, according to the Corporate Tax Haven Index. The research, published by the Tax Justice Network, has identified the UK and a handful of OECD countries as the jurisdictions it says are most responsible for the breakdown…

Captives grow third-party business, says Marsh report

Captives grow third-party business, says Marsh report

Captives grow third-party business, says Marsh report

The number of captive insurance companies writing third-party business is growing fast, as digitalisation expands the ways that organisations can deliver insurance solutions, according to a new report. Technology advances, including mobile applications, are making it easier for organisations to offer insurance to their customers and suppliers, according to a new report from Marsh that is based on trends evident…

Sompo International to grow EEA business

Sompo International to grow EEA business

Sompo International to grow EEA business

Sompo International, the Bermuda-based specialty insurer, is looking to grow its portfolio in Europe, according to Thomas Brazil, CEO of SI Insurance (Europe). “Europe is a strategic market for Sompo and we continue to expand our product offerings to our EEA clients. New professional lines capabilities in Germany complement our property, casualty and marine offerings and further enhance SI Insurance…

IGI joins GBN Worldwide’s global insurance network

IGI joins GBN Worldwide’s global insurance network

IGI joins GBN Worldwide’s global insurance network

International General Insurance Holdings Ltd (IGI), the Middle East-focused commercial insurer and reinsurer, has joined GBN Worldwide as member and network partner. The GBN Worldwide network will allow IGI to place business in over 140 countries while adhering to compliance and service standards across different regulatory regimes. “This is a great opportunity for IGI to build its brand and distribution…

Japan’s Big Three set to resume M&A

Japan’s Big Three set to resume M&A

Japan’s Big Three set to resume M&A

Major natural catastrophes in 2018 put a brake on the global M&A plans of Japan’s domestic insurers, but carriers will resume inorganic growth in the medium term, according to AM Best. In the meantime, Japan’s non-life insurers are under pressure to rebuild their catastrophe reserves amid rising reinsurance costs that resulted from a catastrophe loss-heavy year in 2018, according to…

Hiscox Q1 boosted by EU business

Hiscox Q1 boosted by EU business

Hiscox Q1 boosted by EU business

Expanding European business contributed to first-quarter top-line growth at insurer Hiscox. Hiscox Europe grew gross written premiums by 16.8% in constant currency to $154.9m (2018: $143.5m). At the group level, gross written premiums grew by 3.3% in constant currency to $1.165bn. In its first-quarter trading statement, Hiscox said Germany and Spain continue to be the standout performers, delivering strong growth,…

Hiscox Q1 boosted by EU business

Hiscox Q1 boosted by EU business

Hiscox Q1 boosted by EU business

Expanding European business contributed to first-quarter top-line growth at insurer Hiscox. Hiscox Europe grew gross written premiums by 16.8% in constant currency to $154.9m (2018: $143.5m). At the group level, gross written premiums grew by 3.3% in constant currency to $1.165bn. In its first-quarter trading statement, Hiscox said Germany and Spain continue to be the standout performers, delivering strong growth,…

Samsung F&M takes stake in Canopius

Samsung F&M takes stake in Canopius

Samsung F&M takes stake in Canopius

Canopius AG has entered into a strategic partnership with Korea’s Samsung Fire & Marine Insurance (SFMI), in a move that furthers the Lloyd’s specialty insurer’s global ambitions. Under the terms of the transaction, SFMI will become a significant minority investor in Canopius. The deal, which is subject to necessary regulatory consents, is expected to close in the third quarter of…

Reinsurers weather the storms – Aon report

Reinsurers weather the storms – Aon report

Reinsurers weather the storms – Aon report

The reinsurance sector remains resilient despite absorbing unprecedented catastrophe losses during the past two years, according to a report on the sector’s financial health from Aon. The broker’s analysis of the 2018 financial results of 23 major reinsurers, representing about half of the world’s non-life reinsurance premiums, is used as a proxy for the sector as a whole. It found…

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