News
Insurance
Italian insurer Generali is selling its entire stake in its Belgium-based subsidiary, primarily focused on the life segment, for a cash consideration of €540 million. 19 April 2018
Insurance
Wang Yincheng, former president of the state-owned People's Insurance Company of China (PICC), has pleaded guilty in a trial on the charge of accepting bribes, according to an April 16 report by the country’s official press agency Xinhua. 19 April 2018
Alternative Risk Transfer
Arch Capital Group’s US mortgage insurance operation Arch Mortgage Insurance Company (Arch MI) secured $374,460,000 of indemnity reinsurance from Bellemeade Re 2018-1, a special purpose insurer. 19 April 2018
Insurance
London-based Envelop Risk, a newly-launched global specialty cyber insurance analytics and underwriting firm, has appointed Aritra Chatterjee as its chief underwriting officer. 19 April 2018
Insurance
A hypothetical magnitude 7.0 earthquake epicentered in Oakland would damage more than a million homes and less than 10 percent of total residential losses would be insured because of a low residential earthquake insurance take-up in the Bay Area, according to a scenario developed by the US Geological Survey (USGS). 19 April 2018
Insurance
US specialty insurer RLI is “off to an excellent start in 2018” with a 91 combined ratio and continued strong organic growth across much of the product portfolio, CEO Jonathan Michael commented the first quarter 2018 results. 19 April 2018
Insurance
Ensurance, a construction and engineering managing general agency (MGA) and Lloyd’s coverholder, has launched a combined construction liability product, backed by Faraday Syndicate 435 at Lloyd’s. 19 April 2018
Insurance
Airline premium and rates ended 2017 higher than the preceding year for the first time in a decade and the underlying conditions continue to support higher premium and rates in 2018, says David Godley, founder partner of Altitude Risk Partners, a specialist aviation and space underwriting agency. 18 April 2018
Insurance
Allianz has sold a 33 percent stake in its China unit to Chinese online retailer JD.com, according to a Reuters April 16 report. 17 April 2018
Insurance
French insurer AXA and managed general agency (MGA) Gresham Underwriting (GUL) have entered into a three-year partnership under which AXA will provide £20 million of capacity. 17 April 2018
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