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Insurance
A series of winter storms in the US have caused a total combined economic damage of around $3 billion, according to Aon Benfield estimates. 5 April 2018
Insurance
The downstream insurance capacity is set to rise further in 2018 despite record losses in 2017 while rates remain subdued, according to a Willis Towers Watson report. 5 April 2018
Insurance
Willis Towers Watson has transferred its UK Insurance Investment Solutions Group (IISG) to the company’s Insurance Consulting and Technology (ICT) UK Life business. 5 April 2018
Insurance
Specialty insurance holding The Navigators Group and Protective Insurance have entered into a workers’ compensation underwriting partnership. 5 April 2018
Insurance
Zurich Insurance Group has elected former Swiss Re CEO Michel Liès as chairman of the board of directors for a one-year term. 5 April 2018
Insurance
Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has appointed Nicholas Pooley as the new aviation major risks product lead for North America, based in New York. 5 April 2018
Insurance
Broker Lockton has appointed senior vice presidents Jon Green and Chris Rofe to jointly assume the leadership responsibilities for its UK and international benefits practice. 5 April 2018
Insurance
Lloyd’s of London made a heavy loss in 2017 after being hit hard by the US hurricane season. While this may have been expected due to the market’s gearing towards US natural catastrophes, Lloyd’s top executives are now urging the market to boost profits by curbing costs and being more cautious with its risk selection. 5 April 2018
Alternative Risk Transfer
The US Federal Emergency Management Agency (FEMA) plans to secure additional reinsurance cover for the National Flood Insurance Program (NFIP) by engaging the capital markets for the first time through an insurance-linked securities (ILS) transaction on or about July 1, 2018. 4 April 2018
Insurance
Swiss Re CEO Christian Mumenthaler has explained how the reinsurer is looking to invest in technology while it is, at the same time, likely to make acquisitions in life insurance businesses. 4 April 2018
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