NewsLegal/ RegulatoryChinese authorities take over Anbang as chairman awaits prosecutionThe China Insurance Regulatory Commission (CIRC) has announced it has taken control of the country’s insurance giant Anbang as the company’s chairman An Xiaobohu faces prosecution for alleged “economic crimes”.Fri 23 Feb 2018
NewsResultsSwiss Re’s $400mn wildfire bill contributes to $1.2bn P&C lossSwiss Re has revealed that wildfires in California contributed to a full year catastrophe bill of $4.7bn, helping to push the group’s property and casualty operations to a $1.15bn loss for last year.Fri 23 Feb 2018
NewsLegacyEnstar seals deal with Zurich for AUD$350mn legacy motor bookEnstar has entered an agreement with an Australian subsidiary of Zurich Insurance Group to reinsure its New South Wales motor vehicle compulsory third party (CTP) insurance business.Fri 23 Feb 2018
NewsCyberMarsh calls for public-private partnerships to drive cyber take-upPresident and CEO of Marsh John Doyle has urged the insurance market to work with governments to improve cyber products.Thu 22 Feb 2018
NewsCyberCyber market ‘frustratingly immature’: BealeLloyd’s of London CEO Inga Beale has lambasted slow growth in the cyber insurance market and warned that the market risks not reaching its full potential.Thu 22 Feb 2018
NewsResultsExin requests extension for EUR720mn Ethniki bid deadline: reportsMatt Fairfield’s Exin has written to the Greek regulator to request a 15 day extension for its deadline to line up backing for its proposed acquisition of state-owned carrier Ethniki as the company fights to secure funding for the deal.Thu 22 Feb 2018
NewsClaims to be next priority for TOM initiativeThe London Market Group (LMG) has said that claims transformation will become the next focus for the Target Operating Model (TOM) in 2018.Thu 22 Feb 2018
NewsResultsAxa combined ratio falls to 94.6% as commercial lines improveFrench insurance giant Axa saw its combined ratio improve marginally by 40 basis points to 94.6 percent for 2017.Thu 22 Feb 2018
NewsResultsAlleghany smashes estimates as cat bill comes in lower than expectedAlleghany significantly outperformed expectations in the fourth quarter to deliver a $152.3mn profit that marked a 39.6 percent increase on the same period last year.Thu 22 Feb 2018
NewsLossesPartnerRe posts 99.3 percent 2017 combined ratioDespite $120mn in net losses from the Q4 California wildfires and over $100bn in industry-wide cat losses for the year, Bermudian reinsurer PartnerRe kept its combined ratio below 100 percent in 2017.Thu 22 Feb 2018
NewsResultsRSA’s UK unit clocks 102% combined ratio as it vows to bounce backRSA’s UK business reported a full-year combined ratio of 102 percent for 2017 as storms and domestic floods took their toll on the unit’s bottom line.Thu 22 Feb 2018
NewsLossesScor escapes worst of Q4 painFrench reinsurer Scor appears to have avoided the worst of the fourth quarter losses after it posted an improved combined ratio of 91.6 percent in its P&C unit for the period.Thu 22 Feb 2018
NewsM&ATysers delays dividend as Integro sale talks drag onIndependent London market broker Tysers has warned shareholders not to expect the year-end dividend to be distributed in February as sale talks with potential acquirer Integro drag on, re-Insurance.com has learned.Wed 21 Feb 2018
NewsResultsGreenlight Re weighing Lloyd’s syndicate launchCayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.Wed 21 Feb 2018
NewsPeople MovesMGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.Wed 21 Feb 2018
NewsPeople MovesLloyd’s not ‘particularly proud’ of 28% gender pay gapFemales working at Lloyd’s of London on average earn 27.7 percent less than their male counterparts, the Corporation has said as it released its gender pay gap figures today (21 February).Wed 21 Feb 2018