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Insurance
As UK’s Prime Minister Theresa May signs the letter that will formally begin the UK's departure from the European Union, the insurance industry is expected to accelerate its plans to adapt their business and move operations in order to be able to service their clients within the European Union. 29 March 2017
Insurance
ProTucket Insurance Company has been launched in the US for providing run-off portfolio transfer solutions, the first of its kind in the US, according to the company. 29 March 2017
Insurance
American International Group’s (AIG) leaving CEO Peter Hancock was denied a bonus for 2016 after the company recorded a $3 billion net loss for the fourth quarter of 2016. 20 March 2017
Insurance
The LMA Wordings Forum has revealed it has drafted a ‘cold zone variant’ of its model exclusion wording, which would make it easier for underwriters to cover construction projects in the nuclear sector, a move prompted by recent growth in the construction of nuclear power stations and a requirement to make wordings more appropriate for the nuclear industry of the future. 14 March 2017
Insurance
The global non-life insurance market has experienced strong growth in recent years, registering a compound annual growth rate (CAGR) of 5.4 percent between 2011 and 2015 to reach a value of $2.03 trillion, according to data from research company MarketLine. 14 March 2017
Insurance
London-based Ascot Underwriting has appointed Ray Antes as executive underwriter with responsibility for its political risk team. 14 March 2017
Insurance
Fitch Ratings has changed its sector outlook for the Italian life insurance market to negative from stable, noting that wider spreads on Italian sovereign debt may weaken insurers' capitalisation and business retention. 14 March 2017
Insurance
More than half (54 percent) of high net worth individuals are concerned that they are underinsured, with many worried they are buying insurance that may be inadequate for their needs, according to new research by Chubb. 14 March 2017
Insurance
Berkshire Hathaway should buy insurance giant AIG, which has recorded a $3 billion loss for the fourth quarter of 2016, prompting the CEO to resign, analysts at Keefe, Bruyette & Woods (KBW) suggested in a March 10 research note. 13 March 2017
Insurance
US property/casualty insurer Travelers is acquiring UK-based small and medium-sized enterprises (SME) insurance broker Simply Business from previous owner Aquiline Capital Partners for approximately $490 million. 13 March 2017
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