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Insurance
Insurers based in the UK are creating new entities in the EU to ensure access to the market after Brexit, but the move is set to involve low numbers of staff, Standard & Poor’s suggested in a May 16 briefing in London. 17 May 2017
Insurance
UK insurer Liverpool Victoria Friendly Society (LV=) has confirmed in a statement that it has recently received approaches from a number of parties regarding possible strategic transactions relating to its general insurance operations. 15 May 2017
Insurance
American International Group (AIG) is planning to name former company executive Brian Duperreault as its new chief executive, the Wall Street Journal reported late on May 10. 11 May 2017
Insurance
Switzerland-based Zurich Insurance Group has booked a charge of $289 million as a result of the UK’s decision to change the Ogden personal injury discount rate. 11 May 2017
Insurance
Ratings agency S&P Global Ratings has downgraded Dutch insurer NN Group due to the financial resources used to acquire its competitor Delta Lloyd which are reducing its capital buffers. 11 May 2017
News
Hannover Re’s profits slipped slightly in the first quarter but the reinsurer enjoyed strong growth driven by structured reinsurance demand for reinsurance solutions providing solvency relief and growing demand for cyber coverage. 10 May 2017
Insurance
UK insurer Aviva has announced the sale of its 50 percent shareholdings in life insurance and pension joint ventures Unicorp Vida and Caja España Vid, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía. The total consideration of the transaction is €475 million. 10 May 2017
Insurance
Novae Group enjoyed substantial growth driven largely by US excess and surplus lines in the first quarter of 2017 despite exiting a number of casualty lines of business where it has deemed rates unsustainable. But it also warned that these would still hit its profitability this year. 10 May 2017
Insurance
Specialist re/insurance broker BMS Group has appointed Andrew Godden as chief executive officer (CEO) of Australia. He will be based in Sydney, and report directly to BMS CEO Nick Cook. 10 May 2017
Insurance
London-based Barbican Insurance Group has appointed Jacqueline Wiffen as a class underwriter for upstream energy. She will report to Olivier Decombes, divisional head of energy, power and utilities. 10 May 2017
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