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Insurance
The increasing number of captive domiciles in the US – with around 40 states now adopting some form of legislation – is good for the industry, giving prospective captive owners more choice and keeping the older domiciles such as Vermont, South Carolina and Hawaii on their toes. 8 August 2017
Insurance
The London Market Group (LMG) said on Aug. 8 that it introduced an online service that converts the contents of a paper Market Reform Contract (MRC) – the policy wording – into consistent electronic data that can then be ingested by the carriers’ own systems. 8 August 2017
News
Federated National Holding Company lowered its reinsurance spend in the second quarter of 2017; the decrease was mainly due to the expiration of a Florida-only property quota share but the company did buy additional excess-of-loss reinsurance. 8 August 2017
Insurance
Argo Group’s acquisition of Ariel Re in February 2017 helped drive solid growth in the business, which posted impressive increases in gross written premiums and profits in the second quarter of 2017. 8 August 2017
Insurance
Tokio Marine Holdings enjoyed an increase in revenues but its net profits fell in the first quarter of its financial year ending June 30, 2017, as it offered a positive outlook on the health of the main economies it operates in. 8 August 2017
Insurance
Aon Groep Nederland has entered into an agreement to acquire Unirobe Meeùs Groep (UMG) from Aegon for €295 million. The transaction is expected to close in the fourth quarter of 2017. 8 August 2017
Insurance
Generali Group is to sell its business in Panama to ASSA Compañía de Seguros, an insurance player in the region, for $172 million, subject to adjustment on closure. 8 August 2017
Insurance
Even with modern flood-control structures, the risk of flood damage remains high in Japan in the aftermath of Typhoon Noru, which made its first landfall in Yakushima, an island in Kagoshima Prefecture, Japan, as a Category 1-equivalent storm, before making a second landfall near Kainan City in Wakayama Prefecture, Japan, according to catastrophe modelling firm AIR Worldwide. 8 August 2017
Insurance
A time of reckoning will come very soon for many reinsurers backed by hedge funds as many remain unprofitable and with many promises unfulfilled, according to a new report by S&P Global Ratings. 8 August 2017
Insurance
Mexico’s Fund for Natural Disasters (FONDEN) has returned to the insurance-linked securities (ILS) markets to secure coverage against natural catastrophes for the first time since 2012. 7 August 2017
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