China Re to acquire Chaucer Group for $950m

China Re to acquire Chaucer Group for $950m

China Re to acquire Chaucer Group for $950m

China Reinsurance is set to spend close to a billion dollars acquiring specialty insurer Chaucer from Hanover Insurance. The deal, which is still subject to shareholder and regulatory approval, is expected to close by early 2019. China Re will acquire Chaucer Insurance, Hannover Australia and Hannover Insurance International Holdings in return for $865m in cash and an $85m dividend to…

Geopolitical tensions impacting mining supply chains

Geopolitical tensions impacting mining supply chains

Geopolitical tensions impacting mining supply chains

Geopolitical tensions impacting on supply chains are increasing volatility in the mining sector, as the industry faces a fairly bleak short-term future. According to Willis Towers Watson’s Mining Risk Review 2018, the mining industry has enjoyed mixed fortunes in the past 12 months and the report authors state that, while there had been some encouraging signs that commodity prices were…

AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

AGCS and Nephilia extend weather risk hedges to solar market

Nephila Climate, the weather and ESG-driven specialty division of Bermuda-based Nephila Holdings, together with Allianz Global Corporate & Specialty’s (AGCS’s) alternative risk transfer unit, have closed a first set of solar proxy revenue swaps for two projects in Australia, the Susan River Solar and Childers Solar facilities. The two new five-year transactions announced this week by Nephila and AGCS will…

Energy market on the edge

Energy market on the edge

Energy market on the edge

Energy insurance buyers have been spared large price hikes following last year’s hurricanes, but questions remain about the sustainability of current market conditions. Hurricanes Harvey, Irma and Maria were predicted to prompt meaningful energy rate increases but have resulted in only “modest” price rises, according to a recent Willis Towers Watson 2018 report on the sector. The limited impact was…

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

Rousseau takes charge at restructured SCOR Business Solutions, promising to increase ‘client-centricity’

SCOR has reorganised its growing SCOR Business Solutions (SBS) unit in a move it says will make the firm more relevant to customers, be easier for brokers to use and help deliver planned growth in the large global corporate primary market. The Paris-based group said that in line with its current strategic ‘Vision in Action’ plan, it is “enhancing the…

HDI Global Specialty formed to focus on high growth and margin business

HDI Global Specialty formed to focus on high growth and margin business

HDI Global Specialty formed to focus on high growth and margin business

Talanx has decided to merge the primary specialty operations of its Hannover Re and HDI Global operations to create HDI Global Specialty, an international specialty insurer that will kick off with more than €1bn in premium income. HDI Global, along with the other leading industrial insurers, is struggling to deliver strong and profitable growth in core traditional European lines and…

Rate rises ‘disappoint’ energy insurers: Willis Towers Watson

Rate rises ‘disappoint’ energy insurers: Willis Towers Watson

Rate rises ‘disappoint’ energy insurers: Willis Towers Watson

The tough stance taken by energy underwriters on terms and rates in the immediate aftermath of the three large Gulf of Mexico hurricanes last year has not been sustained, according to Willis Towers Watson’s 2018 report on the sector. While year-on-year rate decreases in the global energy market ended abruptly following the 2017 hurricane season, buyers have found premium increases…

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