Japanese P&C insurers’ strong capitalisation and profitability underpin stable outlook

Japanese P&C insurers’ strong capitalisation and profitability underpin stable outlook

Japanese P&C insurers’ strong capitalisation and profitability underpin stable outlook

Japanese property and casualty (P&C) insurers will maintain strong capitalisation and profits, which will support the industry’s stable outlook, according to Moody’s Japan KK. Profit from new specialty business, demand for which is likely to increase post-pandemic, will contribute to sustaining future profitability, as first reported in Asia Insurance Review. “Japanese P&C insurers’ adequate use of reinsurance and geographic diversification…

Supporting customers through a hardening market

Supporting customers through a hardening market

Supporting customers through a hardening market

After years of soft market conditions, it may seem unusual that the hard market that finally arrived is so persistent. Considering that the previous hard market was well over a decade ago, there had been some discussion that insurance underwriting cycles may have disappeared. But years of declining rates, claims inflation, evolving natural catastrophe exposures, event-driven litigation, emerging risks and…

Ping An Health joins Zurich’s global partner network

Ping An Health joins Zurich’s global partner network

Ping An Health joins Zurich’s global partner network

Chinese health insurer Ping An Health has been added to Zurich Insurance Group’s global network of insurance providers for the employees of multinationals. “Working with Ping An Health will expand our network in China and enable Zurich to provide customers with a broader choice for premier medical insurance coverage for their employees in this important market,” said Rob Brown, head…

Leading Spanish insurance litigator joins DAC Beachcroft in Madrid

Leading Spanish insurance litigator joins DAC Beachcroft in Madrid

Leading Spanish insurance litigator joins DAC Beachcroft in Madrid

Pablo Guillén has been appointed as a partner in DAC Beachcroft’s global insurance practice in Madrid. DAC Beachcroft said Mr Guillén is one of Spain’s leading insurance litigators, with experience in all aspects of financial institutions (FI) and directors and officers (D&O) insurance claims, advising on some of the market’s leading domestic and international cases. DAC Beachcroft said he will…

Marsh appoints head of office for Swedish captive operations

Marsh appoints head of office for Swedish captive operations

Marsh appoints head of office for Swedish captive operations

Alex Dahlmann has been appointed as head of office for its Swedish captive operations, Marsh Management Services AB Sweden. According to Marsh, in this role Mr Dahlmann is responsible for the development and delivery of best-in-class captive management, insurance, accounting, regulatory compliance, and consulting services to captive owners in the region. He will be based in Stockholm and will report…

Arthur J. Gallagher takes shareholding in MENA specialist ACE

Arthur J. Gallagher takes shareholding in MENA specialist ACE

Arthur J. Gallagher takes shareholding in MENA specialist ACE

Arthur J. Gallagher & Co has agreed to a strategic partnership with MIG Holding Ltd (MIG Group). As part of the deal, Arthur J. Gallagher will take a minority interest in Middle East and North Africa specialist insurance broker ACE. Gallagher will take a 30% minority interest in the ACE entities and MIG Group will retain a 70% interest, subject…

Chaucer appoints political risks and credit underwriter in Singapore

Chaucer appoints political risks and credit underwriter in Singapore

Chaucer appoints political risks and credit underwriter in Singapore

Specialty (re)insurance group Chaucer has appointed Jaime Taylor as class underwriter in the political risks and credit team of its Singapore practice. Chaucer said her appointment helps fulfil the firm’s ambitious growth plans and maintain its strong presence in the market. Margaret To, head of Singapore at Chaucer, said: “Jaime has a wealth of experience in underwriting and will significantly…

Guernsey reports surge of interest in pension longevity risk transfer deals

Guernsey reports surge of interest in pension longevity risk transfer deals

Guernsey reports surge of interest in pension longevity risk transfer deals

Guernsey has seen a “surge” of pension longevity risk transfer deals during the past 18 months, which have continued throughout Covid-19 uncertainty. The domicile said three deals were conducted in 2020, with a combined scheme value of more than £8bn, representing “a bumper year in the longevity space for Guernsey”. It said more transactions are in the pipeline. In the…

Labuan IBFC and Qatar Financial Centre Authority sign cooperation agreement

Labuan IBFC and Qatar Financial Centre Authority sign cooperation agreement

Labuan IBFC and Qatar Financial Centre Authority sign cooperation agreement

The Qatar Financial Centre Authority (QFC Authority) has signed a memorandum of understanding (MoU) with Labuan IBFC Inc, the promotional agency of the Labuan International Business and Financial Centre, to develop long-term cooperation and boost economic and financial sector ties between the two financial centres. According to the agency, the MoU entails a commitment to collaborate on certain objectives including,…

Generali Global Corporate & Commercial appoints global head of casualty underwriting

Generali Global Corporate & Commercial appoints global head of casualty underwriting

Generali Global Corporate & Commercial appoints global head of casualty underwriting

Generali Global Corporate & Commercial (Generali GC&C) has appointed Reto Arrigoni as its new global head of casualty underwriting. It has also appointed Enrico Mazza as the new head of underwriting for Italy, and Tomasz Kukuła as its head of underwriting for Austria, CEE and Russia (ACEER). Manlio Lostuzzi, CEO of Generali GC&C, said: “We are delighted to announce these…