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Japan's Toa Re hires former Amlin boss to launch new European unit in Zurich

Japan-based Toa Reinsurance Company (Toa Re) has hired the former chief executive of Amlin Europe to spearhead a new European reinsurance venture.   17 May 2018

Insurance

Munich Re backs Bermuda unit with $330m

Munich Re is providing support to its Bermuda-based reinsurance subsidiary via excess of retention and excess of loss reinsurance treaty and through a capital contribution of $330 million.   14 May 2018

Insurance

Marsh loses case against insurtech startup Marshmallow

Insurtech startup Marshmallow has won a trademark case against insurance broker Marsh.   14 May 2018

Insurance

AXA US IPO secures funds for XL acquisition

The initial public offering (IPO) of AXA’s US unit was priced below the indicative price range but the proceeds, combined with a bond issue will still substantially secure the funding for AXA's planned acquisition of XL Group, according to Moody’s.   14 May 2018

Insurance

Castel taps independent director to support expansion and growth plans

Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has appointed Bob Cowdell as its first independent non-executive director to support its expansion and growth plans.   14 May 2018

Insurance

Cat reinsurance fund Blue Capital Alternative Income to be wound down

Shareholders representing 39 percent of the equity have voted against the continuation of the Blue Capital Alternative Income Fund at the annual general meeting and the company’s board is recommending an orderly run-off of the company.   11 May 2018

Insurance

US cyber premium reach $2.1bn

US stand-alone and package cyber premiums combined grew by 54 percent year on year to $2.1 billion in 2017 while the direct loss ratio for standalone cyber insurance declined, according to Fitch Ratings.   10 May 2018

Insurance

AXA prices bond offering for US life IPO ahead of XL acquisition

French insurer AXA has priced its offering of $750 million of bonds mandatorily exchangeable for a number of shares of common stock of its US subsidiary AXA Equitable Holdings (AEH).   10 May 2018

Insurance

Duperreault promises AIG is on the right track

American International Group (AIG) had a disappointing start to 2018 as results missed expectations and caused the share price to dive, but CEO Brian Duperreault promised during the May 3 first quarter 2018 results call that the company is on track to address the issues in general insurance and deliver double-digit return on equity (ROE).   9 May 2018

Insurance

Berkshire shrinks re/insurance operations in Q1

Berkshire Hathaway has reduced net earned premium in its re/insurance operations by 38.5 percent year on year to $13.37 billion in the first quarter of 2018 driven by the Berkshire Hathaway Reinsurance Group unit, according to KBW research.   8 May 2018

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