ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

Lloyd’s insurer ArgoGlobal has appointed Alfredo Alonso chief underwriting officer for Europe, Middle East and Asia. Mr Alonso will take up the post in London this month, where he will report to Matt Harris, group head of international operations. Mr Alonso joins ArgoGlobal from RSA, where he worked in chief underwriting roles for the past seven years and most recently…

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon’s White Rock protected cell facility launches in District of Columbia

Aon has launched its protected cell facility in the District of Columbia in the US. The latest expansion of Aon’s White Rock Group means the facility is now established in seven domiciles around the world. According to Aon: “White Rock is a unique and leading group of insurance and reinsurance vehicles with operations in a number of key domiciles including…

New head of global operations for Lloyd’s

New head of global operations for Lloyd’s

New head of global operations for Lloyd’s

Lloyd’s has appointed Hayley Spink as head of global operations. According to Lloyd’s, in her new role she will provide operational leadership for Lloyd’s’ internal and market-wide programmes, reporting to chief operating officer Shirine Khoury-Haq. Ms Spink joined Lloyd’s in 2007 and has served in a variety of operational leadership roles, where she has implemented and overseen Lloyd’s operations all…

Insurance Europe reveals European insurance data

Insurance Europe reveals European insurance data

Insurance Europe reveals European insurance data

Total premiums in Europe increased by 4.7% to €1,213bn in 2017, with property/casualty growing by 4.4% to €371bn, according to new figures from Insurance Europe. The robust growth in 2017 was mainly driven by the three largest European markets – led by the UK and supported by France and Germany. The three largest markets together accounted for 57.2% of the…

NAIC report details US property/casualty market share

NAIC report details US property/casualty market share

NAIC report details US property/casualty market share

The top ten property/casualty companies in the US have a cumulative market share of 47.79%, according to the US National Association of Insurance Commissioners (NAIC). In its report, The Property/Casualty Market Share, the NAIC publishes data on US property/casualty insurers, providing market share information and identify leading insurance writers in several key lines of business. The report reveals that with…

China’s regulator orders insurers to strengthen supervision of their brokers

China’s regulator orders insurers to strengthen supervision of their brokers

China’s regulator orders insurers to strengthen supervision of their brokers

The China Banking and Insurance Regulatory Commission (CBIRC) has ordered insurance companies to strengthen supervision of their intermediary partners such as agents and brokers, according to a report in Caixin Daily. The Chinese publication said the move was part of an effort “to impose order on a chaotic and largely unregulated sector of the industry”. CBIRC stated in a notice…

MENA insurance markets see growth but face economic and political challenges

MENA insurance markets see growth but face economic and political challenges

MENA insurance markets see growth but face economic and political challenges

The Middle East and North Africa (MENA) insurance markets have seen strong growth during the past decade and remain attractive to investors despite slowing economic growth in the region, according to AM Best. It said growth in the insurance segment in MENA remains higher in comparison to the most mature markets. The region has faced significant challenges, said Best, “with…

New Estonian law opens market to insurance mutuals

New Estonian law opens market to insurance mutuals

New Estonian law opens market to insurance mutuals

Estonia has passed a new law that opens its market to mutual and cooperative insurance. The amendment to the Estonian Insurance Activities Act was passed by the Estonian Parliament and broadens the scope of insurance company structures in Estonia, recognising insurance associations, a type of mutual insurer, and European cooperative societies from March 2019. The Insurance Activities Act governs the…

Chubb increases stake in China’s Huatai Insurance Group

Chubb increases stake in China’s Huatai Insurance Group

Chubb increases stake in China’s Huatai Insurance Group

Huatai Insurance Group has become the first domestic Chinese financial services holding company to convert to a Sino-foreign equity joint venture, following approval from the China Banking and Insurance Regulatory Commission for Chubb to increase its ownership in Huatai to 26.2% from its current 20%, effective 27 February 2019. Huatai Insurance Group is the holding company of Huatai P&C Insurance…