International News

Investment Return Moves up Boardroom Agenda for Europe Insurers: A.M. Best

The pursuit of improved investment returns has become more important for European insurers after a lengthy period when their attention was more focused on non-investment sources of profit, according to a report published by A.M. Best. How an insurer might …

Willis Appoints Messer Regional Leader for Latin American Aviation

Willis Group Holdings announced the appointment of Thomas Messer as Regional Leader of aviation in Latin America with immediate effect. Messer joined Willis in 2002 and has served in a variety of roles within the aerospace re/insurance market – most recently …

CGSC Appoints Hooper, Newman, Ruggieri to Holding Company Board

Global broker Cooper Gay Swett & Crawford (CGSC) has appointed three senior officers to its board of directors with immediate effect. Shaun Hooper, CEO of CGSC International, Gordon Newman, CEO of CGNMB and Thomas P Ruggieri, CEO & President of …

Public-Private Catastrophe Scheme in UK Would Help Mitigate Cyber-9/11: Study

A public-private, cyber-catastrophe reinsurance arrangement would improve the UK’s resilience against the growing threat of cyber risks in this interconnected world, according to a cyber report released this week. Given the fact that the current market for cyber insurance is …

PartnerRe ‘Now Willing’ to Open Talks with EXOR: Sources

PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with AXIS Capital Holdings, has indicated that it is now willing to negotiate a new deal with rival suitor EXOR, SpA, according to people familiar with the matter. …

Lloyd’s to Apply for Onshore Reinsurance License in Malaysia

Lloyd’s has announced that it intends to apply for an onshore reinsurance license in Malaysia. The move has been confirmed by the UK and Malaysian governments. The announcement that Lloyd’s will apply for a “Tier 1 license”, and open an …

Swiss Re P&C Unit Misses Earnings Targets; Shares Drop

Shares in Swiss Re, Europe’s second-biggest reinsurer, fell the most since April in Zurich trading after second quarter earnings missed analysts’ estimates on lower profitability at its property and casualty unit.  The shares declined 2.9 percent at 10 a.m., crimping …

Ironshore Int’l. Appoints Bamford to Head Global M&A, Tax; Ups M&A Capacity

Bermuda-based Ironshore International has named Rowan Bamford as its new Global Head of Mergers & Acquisitions and Tax, effective immediately. He will oversee the M&A business lines the company’s portfolio, as well as the Tax division, throughout Ironshore’s global platform …

Lancashire’s CEO Maloney Dismisses Value of Merger with Larger Rival

Lancashire Holdings Ltd. Chief Executive Officer Alex Maloney dismissed suggestions the insurer would be better off combining with a larger competitor. “I don’t really buy the bigger is better thing,” Maloney said on a conference call with analysts Wednesday. “I see …

Lancashire 1st Half Profit Drops 10% Amid ‘Pricing Pressures’ at Lloyd’s

Lancashire Holdings Ltd. reported a 10 percent fall in first-half profit amid “pricing pressure” in the Lloyd’s of London insurance market. The company said pretax profit decreased to $88.6 million in the six months through June, while gross written premiums fell …

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