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Insurance
Property/casualty insurer Travelers Europe will apply to the Central Bank of Ireland for authorisation of a new, wholly owned insurance subsidiary incorporated in the Republic of Ireland, according to a Dec. 19 statement. 19 December 2017
Insurance
The Lloyd’s market has received approximately £3 billion of additional capital to restore capital resources to the level prior to the third quarter of 2017 loss events and to cover changes in capital requirements for 2018 underwriting. 19 December 2017
Insurance
Willis Towers Watson (WLTW) has named Alberto Gallego as the new head of Iberia. 19 December 2017
Insurance
Coverys Syndicate 1975 has received approval from Lloyd’s to begin underwriting business with effect from Jan. 1, 2018. 19 December 2017
Alternative Risk Transfer
Reinsurance Group of America (RGA) has completed an asset and longevity risk transaction with Liverpool Victoria Friendly Society (LV=) where it will reinsure approximately £900 million in individual annuity business. 19 December 2017
Alternative Risk Transfer
Willis Towers Watson Securities, the investment banking business of Willis Towers Watson, has structured and placed €90 million of insurance-linked securities (ILS) for French domestic P&C insurance group Covea Mutual Insurance Group. 19 December 2017
Insurance
Bermuda-based Aspen Insurance has entered a strategic partnership with CGB Diversified Services (CGB DS) where Aspen will be acquiring a 23.2 percent stake in a newly formed company, Crop Re Services. 19 December 2017
Insurance
China’s insurance regulator plans to restrict the business of insurers which have a low rating for asset liability management, Reuters reported Dec. 17 citing Xinhua news agency. 18 December 2017
Insurance
Catastrophe modelling firm AIR Worldwide is collaborated with China's PICC Reinsurance Company (PICC Re) to improve the assessment and management of the reinsurer’s growing portfolio of catastrophe risk business. 18 December 2017
Insurance
Brian MacLean, president and chief operating officer of property/casualty insurer The Travelers Companies is retiring after 30 years with the company, effective March 31, 2018. 18 December 2017
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