Insurance sector M&A up in 2018 but temporary slowdown expected this year

Insurance sector M&A up in 2018 but temporary slowdown expected this year

Insurance sector M&A up in 2018 but temporary slowdown expected this year

Global insurance merger and acquisition (M&A) activity was up by 9% last year, according to Clyde & Co, but the law firm said political and economic uncertainty around the world would mean a slowdown in deals, at least in the short term. The Americas, Europe and Asia-Pacific all saw an increase in M&A activity in 2018. Clyde & Co’s insurance…

New guidance on risk pools from Captive Insurance Companies Association

New guidance on risk pools from Captive Insurance Companies Association

New guidance on risk pools from Captive Insurance Companies Association

The Captive Insurance Companies Association (CICA) has produced a guide designed to address misperceptions about risk pools and highlight some commonly accepted practices. “CICA has always been a leader in championing the use of best practices for operating captive insurance companies, and we’re pleased to expand our best practice resources with this new guidance document,” said CICA president Dan Towle.…

Hong Kong reinsurers benefit from preferential rule change

Hong Kong reinsurers benefit from preferential rule change

Hong Kong reinsurers benefit from preferential rule change

A new regulation that gives preferential treatment to Hong Kong-based reinsurers allowed the territory’s reinsurance industry to expand quickly last year, according to the South China Morning Post. The paper reported that the total gross premium of all reinsurance companies in Hong Kong rose 9.1% to HK$10bn ($1.27bn) in the first nine months of the year, according to data from…

Howden Thailand merges with local Thai broker

Howden Thailand merges with local Thai broker

Howden Thailand merges with local Thai broker

Howden has merged its Thai operation with a local broker to form Howden Maxi, which it says will be a top ten Thai broker. Howden Insurance Brokers (Thailand) and Maxi Insurance Broker Co have joined forces to form Howden Maxi. “By bringing together the specialist expertise of the two businesses, and the reach of the Howden global network, Howden Maxi…

China sees premium growth despite tightened regulations

China sees premium growth despite tightened regulations

China sees premium growth despite tightened regulations

China’s insurance industry saw a small increase in premium income in 2018 amid tightened regulations aimed at defusing financial risks, according to the Xinhua News Agency. Combined premium in the Chinese insurance industry totalled CNY3.8trn ($567bn) in 2018, up 3.92% year on year, according to data from the China Banking and Insurance Regulatory Commission. Property insurers collected CNY1.18trn in premium…

Talanx sees 4.9% increase in net income and gets financial strength rating

Talanx sees 4.9% increase in net income and gets financial strength rating

Talanx sees 4.9% increase in net income and gets financial strength rating

The Talanx Group has reported a 4.9% increase in group net income of €703m for the financial year 2018, compared to €670m for 2017. The group, which includes Hannover Re and HDI, saw gross written premiums increase by 5.5% to €34.9bn. According to Talanx, the increase in group net income highlights the good operating development in the retail international, retail…

Hartford to restructure after Navigators acquisition

Hartford to restructure after Navigators acquisition

Hartford to restructure after Navigators acquisition

Hartford has announced a new operating model and organisational structure that will come into effect following its acquisition of Navigators Group, which is subject to regulatory approval and expected to close in late March or April 2019. Navigators’ operations, along with Hartford’s current specialty commercial and middle market businesses, will be brought together in two new businesses: global specialty, and…

US cyber insurance market remains competitive but take up remains low

US cyber insurance market remains competitive but take up remains low

US cyber insurance market remains competitive but take up remains low

The cyber insurance market in the US remains competitive, with capacity plentiful in the second half of 2018, according to The Council of Insurance Agents & Brokers’ (CIAB) seventh Cyber Market Watch Survey. However, the take-up rate remains relatively low with 33% of respondents’ clients having purchased at least some form of cyber coverage. The survey found that 32% of…

RSA appoints new chief executive of UK and international division

RSA appoints new chief executive of UK and international division

RSA appoints new chief executive of UK and international division

Scott Egan, chief financial officer (CFO) of RSA since October 2015, has been appointed to the role of chief executive of RSA’s UK and international division. He continues as a member of RSA’s board, reporting to broup CEO Stephen Hester. The appointment is subject to regulatory approval. According to RSA, recruitment of a new CFO for RSA is underway and…

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