No dominant post-Brexit hub is emerging for London company firms, as the market delivered a 16% premium jump in 2017 and its statistics begin to reflect changing dynamics bought about by the UK’s EU exit, according to a report by the International Underwriting Association (IUA)…
AXA XL has received authorisation in principal to move its European entity to Ireland in response to Brexit…
Shares in German insurance and reinsurance group Talanx fell shortly after the company warned investors that extraordinary “large and frequency losses” in its industrial property business, mainly underwritten by HDI Global, would lead to a loss for the third quarter…
Following its planned acquisition of JLT, Marsh & McLennan Companies (MMC) expects up to 5% of the combined company’s workforce will be cut as it seeks to optimise synergies of about $250m within three years of the completed deal…
The first half of 2018 has seen private US property/casualty insurers more than double their net income, according to ISO and the Property Casualty Insurers Association of America (PCI). The insurers saw their net income after taxes increase to $34bn in the first half of 2018 from $15.5bn in the first half of 2017, with the help of lower catastrophe…
The profitability of London market insurers is expected to remain under pressure in 2018, according to Fitch Ratings, due to the “difficult pricing environment”. The ratings agency said that pricing in the London market remains under pressure due to excess capacity fuelling competition, despite rate increases following H2-17 catastrophe losses. At the same time, expense ratios remain high and reserve…
Brokerslink has appointed former CEO José Manuel Fonseca as chairman to replace Grégory Allard, who will step down after his two-year tenure…
Willis Towers Watson has appointed Elke Vagenende as head of western Europe for FINEX, its financial, executive and professional risks unit. Ms Vagenende joins Willis after six years at AGCS, most recently as head of market management. In her new role, Ms Vagenende will be based in London, working closely with global FINEX specialists and risk advisers across western Europe.…
Brokerslink has launched two new technology solutions designed to support independent brokers in delivering competitive global insurance programmes. The solutions will facilitate the management and delivery of multinational insurance programmes and further enhance business opportunities for Brokerslink’s network of independent brokers and their multinational clients in more than 100 countries. The first solution is a multinational client management tool called…
The economies of Latin America and the Caribbean are growing again after a number of difficult years, but the fragile recovery highlights the need to increase efforts to build resilience and manage risks, according to a new report from the World Bank. The report, From Known Unknowns to Black Swans: How to Manage Risk in Latin America and the Caribbean,…