Reinsurance
Industry welcomes chancellor's Mansion House speech
The UK insurance industry has welcomed comments made by chancellor Philip Hammond where he said he is pushing for a Brexit "that works for Britain," and wants a business-friendly Brexit which protects financial services.
Majority of insured losses from Grenfell Tower to be borne by reinsurance
The Norwegian company responsible for insuring the Grenfell Tower, which burned down yesterday, said reinsurers will bear the majority of the claims costs.
Will insurers Wanna Cry? On the legal repercussions of the global cyber attack
The Wanna Cry ransomware attack is going to bring into light cyber wordings and terrorism exclusions, explains Hermes Marangos, partner at Signature Litigation.
Peak Re establishes Labuan office
Peak Re has been granted "approval-in-principle" by the Labuan Financial Services Authority for a general reinsurance license.
Blog: London needs to get global
To maintain its competitive position, the London insurance market needs to become a truly global hub, write Chris Beazley, CEO of the London Market Group, and Paul Clark, partner at the Boston Consulting Group
Pool Re braced for first claims from Manchester attacks
Pool Re will soon receive the first claims from the Manchester terror attacks, its chief underwriting officer has confirmed.
Compre snaps up Equinox CA Europe
Independent insurance and reinsurance legacy specialist, Compre, has acquired global engineering and construction conglomerate, Equinox CA Europe.
Tysers sees revenue grow over 2016
Tysers saw its revenue increase 12.8% in 2016 to £52.8m from £46.8m in the previous year.
Helios acquires Nottus for £964,500
Helios has acquired Lloyd’s limited liability member, Nottus, as part of its strategy to increase underwriting capacity.
Swiss Re GI unit opens Manchester office to target regional business
Swiss Re's general insurance unit, Corporate Solutions, has opened an office in Manchester to grow its regional commercial business.
Ed names Wicks as non-marine reinsurance chair
Reinsurance, wholesale and specialty broker, Ed has appointed Ian Wicks as chairman of non-marine reinsurance.
Greenlight Re appoints Simon Burton as CEO
Specialist property and casualty reinsurer Greenlight Re has appointed Simon Burton as CEO.
Empty shells or letter boxes ‘not acceptable’ post-Brexit subsidiaries, EU regulator says
Insurers looking to set up a post-Brexit base in the European Union will need to ensure their relocation plans have the proper supervision, the chairman of the European insurance watchdog has said.
Gen Re boss appointed MD for Guy Carpenter Benelux
Hans van Oort has been appointed as the managing director of Guy Carpenter Benelux and will be responsible for leading the company’s presence in Belgium.
EU gets go ahead to sign covered agreement with US
The European Council has approved the signing of the covered agreement with the United States that would harmonise insurance and reinsurance regulation on both sides of the Atlantic.
This Week in Post: Manchester in our thoughts
The Manchester attack touched us all this week. Because we might live or work in the city. Because we might have visited recently. Or because we have, you know, a heart.
Pool Re will respond to Manchester attack as ‘quickly as possible’
Pool Re will work with its members to resolve any claim arising from the suicide bomb attack in Manchester, the terrorism reinsurance fund has said.
Solvency II ratios not comparable across EU and won't be used in ratings, says AM Best
Solvency II ratios will not be comparable across the European Union and will not be used in rating assessments, according to AM Best.
Running off captives in Luxembourg: How to recover the equalisation reserve
A treasure awaits those holding the keys for unlocking Luxembourg’s main assets within the insurance industry. According to the regulator’s latest annual report, reinsurers have built up €9.3bn (£7.8bn) in equalisation reserves in the country.
Insurtech start-up Sherpa partners with Gen Re to offer tailored policies
Insurtech start-up Sherpa has partnered with Gen Re in order to provide tailored risk coverage scores personal lines insurance policies.
London failing to stem reinsurance decline, says LMG
The London market is losing ground as a global centre for reinsurance and faces significant challenges in emerging markets and diversity, according to the London Market Group
Reinsurance pricing won't turn this year, says Fitch
Reinsurance pricing is unlikely to change its course over the next year, with soft market conditions expected to continue and further pricing declines anticipated, according to Fitch Ratings.
Updated: Markerstudy flagged as credit risk on Biba Litmus Test
Markerstudy has been flagged up as a credit risk on a ‘litmus test’ of unrated insurers by the British Insurance Brokers’ Association.
Websure expands into North America
Reinsurance software provider Websure has expanded into North America with the opening of a US operation.