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Insurance

GIC Re posts combined ratio of 104% in FY 2017

General Insurance Corporation of India (GIC Re) has reported a combined ratio of 104.0 percent for the financial year ended 31.3.2018 after 99.7 percent in the period ended 31.3.2017.   29 May 2018

Insurance

Castel opens in Amsterdam for European expansion

Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has opened its first branch office in Amsterdam, Netherlands to support plans to expand its operations in Europe as the UK leaves the EU.   29 May 2018

Insurance

Ed expands professional, executive risk business into Jersey

Reinsurance, wholesale and specialty broker Ed has received a license to carry out general insurance mediation business by the Jersey Financial Services Commission.   29 May 2018

Insurance

Concerns about pricing, reserves, interest rates weigh on P&C sector

Concerns over pricing, reserves, and interest rate weigh on investor sentiment in the property/casualty re/insurance sector, according to Morgan Stanley.   29 May 2018

Insurance

QBE sets up EU unit in Belgium

Australia-based QBE has been granted a license for a new Belgian subsidiary QBE Europe to enable the company to maintain continued passporting rights across the European Economic Area (EEA) after the UK leaves the EU.   29 May 2018

Insurance

Brit grows professional liability unit with Hiscox, Hartford hires

Specialty re/insurer Brit has hired Hiscox and The Hartford executives to bolster its Brit Global Specialty USA (BGSU) professional liability team.   29 May 2018

Insurance

Swiss Re, SoftBank end investment negotiations

Swiss Re and SoftBank Group have agreed to end discussions about a potential minority investment of SoftBank in Swiss Re.   28 May 2018

Insurance

GE seeking to shed troubled insurance business: Reuters

General Electric (GE) is working with investment bankers to find ways to shed its insurance business, Reuters reported on May 22 citing “people familiar with the matter”.   24 May 2018

Insurance

AIG EMEA 2017 cyber claims as high as 4 previous years combined

Amercian International Group (AIG) EMEA saw cyber claims go up significantly in 2017, reaching a total as high as in the previous four years combined, driven by ransomware attacks and cyber business interruption.   24 May 2018

Insurance

Canopius appoints reinsurance Europe head from Emirates Re

Specialty re/insurer Canopius has appointed Stephan Ott as its new head for Continental Europe, reinsurance.   24 May 2018

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