News
Insurance
Ratings agency AM Best has removed American International Group (AIG) from ‘under review with negative implications’ and affirmed its Long-Term Issuer Credit Rating (Long-Term ICR) after analysing recent actions taken by the US insurers. 24 May 2017
Insurance
Amid a myriad of challenges, re/insurers must stay ahead of their peers and embrace innovation and technology if they are to thrive in the game, Ingrid Carlou, the chief executive of Patria Re, tells Intelligent Insurer. 24 May 2017
Insurance
The introduction of IFRS 17, the new international accounting standard for insurance contracts, is the biggest shake up of insurance reporting for decades as it will impact profit, equity and volatility, as well as reserving and financial reporting processes, according to industry experts. 18 May 2017
Insurance
Mergers and acquisitions (M&A) activity will pick up in 2017 across all insurance sectors, driven, among others, by soft market conditions and insurers seeking scale, according to a study by Conning. 17 May 2017
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
Large-scale ransomware attacks, such as the ‘WannaCry’ on May 13-15, are highlighting the vulnerabilities in companies’ IT systems, which is in turn likely to increase the demand for related insurance protection. But Fitch Ratings warns insurers against aggressive expansion. 17 May 2017
Insurance
JLT Specialty USA, a subsidiary of Jardine Lloyd Thompson Group, has appointed Gabe Levitt as executive vice president. 17 May 2017
Insurance
Beazley, a provider of specialist environmental liability insurance, has increased its capabilities with the hire of two new environmental underwriters in the US. 17 May 2017
Insurance
AXA has appointed Joyce Phillips as CEO of a new business unit dedicated to customer innovation and new business models. 17 May 2017
Insurance
The insurance industry opposes ideas put forward in a European Commission consultation to either transfer some conduct of business powers from the European Insurance and Occupational Pensions Authority (EIOPA) to the European Securities and Markets Authority and/or to merge EIOPA with the European Banking Authority. 17 May 2017
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