Further consolidation and M&A activity is looming for the European general insurance sector if low interest rates continue, the European Insurance and Occupational Pensions Authority (Eiopa) has warned.
Munich Re’s primary insurance group, Ergo Group, has announced plans to lower its cost basis and inject a total net figure of €1bn to 2020, but 1,800 jobs will go as part of the changes.
Sports fans are about to enjoy two major events: the UEFA Euro in France and the Olympic Games in Brazil. As millions of people prepare to visit the host nations and crowd multiple venues, insurance has a crucial role to play.
Munich Re has seen its quarterly profits fall by 45%, causing the group to revise downward its annual profit forecast.
Stephan Knipper has joined Everest Re as managing director for Continental Europe, based in Zurich.
Swiss Re has appointed Moses Ojeisekhoba to replace Christian Mumenthaler as the firm’s CEO of reinsurance.
Reinsurance capital fell 3.5% or $13bn (£9bn) in 2015 within traditional sources but non-traditional sources saw continued growth, up $70bn according to the latest Reinsurance Market Report from Willis Re.
Investment firm BP Marsh & Partners has acquired a 20% stake in Singapore-headquartered Asia Reinsurance Brokers for S$2.4m (£1.2m).
Capsicum Re has appointed Alistair Lockhart-Smith and Jerry Reeves to its marine and energy specialty business, as a managing partner and partner respectively.
Insurers could be hit hard as a result of the fallout from the Panama Papers data leak, according to lawyers.
Tad Montross, CEO at Berkshire Hathaway-owned global reinsurer Gen Re, will retire by the end of the year, according to a spokeswoman at the firm.
Willis Re's latest reinsurance report has identified some encouraging signs for the market despite April reinsurance rates falling for the fourth year in a row.
Lloyd's has started talks with the Insurance Regulatory and Development Authority about a reinsurance branch license in Mumbai, India.
Saga has signed a quota share agreement to cover 75% of the motor policies risks of its in-house underwriter AICL from 1 February.
Lloyd’s has reported a drop in pre-tax profit to £2.1bn for 2015, from £3bn the previous year.
Swiss-based Helvetia Group saw its IFRS after tax result fall to SFr309m (£220m) (2014: SFr393m) but there was an improvement in its combined operating ratio to 92.1% (2014: 93.5%) and other profit metrics.
Nikolaus von Bomhard will depart as CEO of reinsurer Munich Re in April 2017, with his role to be filled by Joachim Wenning.
Gen Re, a global reinsurer owned by Berkshire Hathaway, has decided to close six property and casualty offices after an evaluation of the business.
Mutual reinsurer Pool Re has increased its reinsurance programme from £1.8bn to £1.95bn, after renewing cover it bought last March for a further three years.
French reinsurer Scor has posted an upgraded financial rating on the back of a 6.4% increase in 2015 gross written premiums to €13.4bn (£10.6bn).
After four years as CEO, Swiss Re’s Michel Liès will step down on 1 July with reinsurance head Christian Mumenthaler named as his replacement.
Hong Kong-headquartered reinsurer Peak Re has appointed Iain Reynods as head of analytics with Lawrence Cheng moving to head of product underwriting.
Ratings agency Fitch has maintained a negative outlook for the reinsurance sector, with anticipated further premium price falls and low investment yields contributing to the forecast.
Australian giant IAG is still counting the cost of the 2011 Christchurch earthquake and announced a 19.5% fall in profits for the first half of the 2015/16 financial year.