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Insurance
Speciality property/casualty insurance group AmTrust Financial Services (AFSI) should take a reserve charge “in the hundreds of millions of dollars” and commit to “much-improved disclosure” in order to restore investor confidence, according to analysts at Keefe, Bruyette & Woods. 3 May 2017
Insurance
Adam Szakmary, the former CEO and portfolio manager at Blue Capital Management, has joined Hiscox Insurance Company Bermuda as director of underwriting. He replaces Damien Smith, who is returning to London after six years in Bermuda to become the head of specialty for Hiscox Re. 3 May 2017
Insurance
Following the completion of its acquisition of Ironshore, property/casualty insurer Liberty Mutual has combined its existing Liberty International Underwriters (LIU) US business and Ironshore’s US specialty lines business under the Ironshore brand. 3 May 2017
Insurance
Insurance group White Mountains has agreed to sell OneBeacon Insurance Group to Intact Financial Corporation, Canada's largest provider of property/casualty insurance, for approximately $1.7 billion. 3 May 2017
Insurance
Allianz enjoyed solid growth in the first quarter, according to preliminary figures published ahead of its full results though profits were down on a mixture of higher catastrophe claims and one off gains in the prior year. 3 May 2017
Insurance
Bermuda-based insurer White Mountains has appointed Reid Campbell to become its chief financial officer (CFO). He succeeds David Foy who will remain an advisor to senior management through the end of 2017. 3 May 2017
Insurance
Re/insurance broker Miller has hired producer broker Ian Blick to manage and develop its energy facultative book of business. 3 May 2017
Insurance
Re/insurer QBE North America, part of QBE Insurance Group, has appointed Marcia Blanco as senior vice president, Western region specialty underwriting and engagement leader. 3 May 2017
News
Gross written premiums grew steadily at Greenlight Capital Re in the first quarter as its CEO said he was pleased with the January renewals. But the company’s profits plummeted largely as a result of higher expenses. 3 May 2017
Insurance
Ratings agency AM Best has removed Ironshore Insurance and its subsidiaries from “under review with developing implications” following its acquisition by Liberty Mutual Holding Company’s (LMHC). 2 May 2017
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