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Insurance
UK insurer RSA incurred a net charge of around £40 million in the UK relating to the change in Ogden discount rate but was able to more than offset it through positive reserve development elsewhere in the group, the company said in its 2017 Q1 trading update. 4 May 2017
News
Profits plummeted at PartnerRe in the first quarter of the year as it blamed a number of factors including changes to the Ogden discount rate in the UK, a decline in favorable prior year reserve development and lower profitability in its health line of business. 4 May 2017
Insurance
Lancashire Holdings enjoyed a rise in profits in the first quarter of 2017 though the company’s gross written premiums shrank significantly. 4 May 2017
Insurance
American International Group (AIG) has completed the sale of its Japan life insurance business, AIG Fuji Life Insurance (AFLI), to FWD Group, the insurance segment of Pacific Century Group. 2 May 2017
Insurance
The London Market Group (LMG) has reappointment Nicolas Aubert, head of Great Britain for Willis Towers Watson, as its chairman for another term. 28 April 2017
Insurance
Liberty Specialty Markets (LSM), part of the Liberty Mutual Insurance Group, has appointed Stuart Sutherland as its new head of casualty. 26 April 2017
Insurance
Towergate Insurance, an independent insurance intermediary in the UK, has said that it plans to restructure a number of central finance processing teams resulting in 133 employees being placed at risk of redundancy. 25 April 2017
Insurance
Re/insurer XL Catlin has expanded its mergers and acquisitions (M&A) insurance product suite while strengthening its global team with three key hires. 25 April 2017
Insurance
NMI Holdings said that its subsidiary National Mortgage Insurance Corporation is preparing for a capital markets-based reinsurance transaction with a newly-formed Bermuda special purpose insurer to purchase $211.3 million of excess of loss reinsurance protection. 25 April 2017
Alternative Risk Transfer
Organisations believe that their cyber assets are more valuable than plant, property and equipment (PP&E) assets despite spending four times more budget on insurance protecting the latter risks, according to the latest Aon/Ponemon report. 25 April 2017
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