International News

Aspen Insurance, Starr Companies to Form Joint Europe Property Venture

Bermuda-based Aspen Insurance, the insurance segment of Aspen Insurance Holdings Limited, and Starr Companies announced that they have “signed a memorandum of understanding under which both parties will enter into a joint underwriting initiative to write international property insurance, with …

Global Alliance Founder Wins License to Operate Mozambique Insurer

The Mozambican unit of a company set up by Global Alliance Group founder Robert Lewis has won a license to become the southern African nation’s 17th insurer. ICE Seguros, part of London-based International Commercial & Engineering Holdings, will provide insurance services …

TigerRisk Partners Appoints Ursano President

TigerRisk Partners LLC, the reinsurance broking and risk/capital management firm, announced that it has appointed Tony Ursano, a veteran investment banker and reinsurance expert, as its President. He will help “grow the firm’s business, identify and source the most efficient …

CEOs of 43 Companies, Including Allianz, Call for Action on Climate Change

The bosses of 43 companies including Ikea, Dow Chemical Co. and HSBC Holdings plc called for swift action on climate change, a sign businesses are prepared for a United Nations deal this year on limiting fossil fuel emissions. The chief …

EXOR Shuns Hedge Fund Strategy With $6.4 Billion Buyout Plan of PartnerRe

The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the idea that it should take …

PartnerRe Investor Fund Describes Exor Bid as ‘Much Superior’ to Axis Deal

PartnerRe Ltd.’s second-biggest shareholder, Franklin Mutual Advisers LLC (FMA), said Exor SpA’s offer for the Bermuda-based reinsurer was “much superior” to a deal with Axis Capital Holdings Ltd that was already on the table. FMA’s CEO Peter Langerman said his …

Philippines Eyes Catastrophe Bonds to Cut Post-Typhoon Rebuilding Costs

The Philippines suffered $13 billion of damage when Super Typhoon Haiyan tore through the country in 2013, a year after another storm killed 1,067. Now, the nation is looking at defraying the costs of future calamities with catastrophe bonds. The …

Guy Carpenter Launches G-CAT® Canada Flood Model

Guy Carpenter launched its G-CAT® Canada Flood Model, which it describes as the first ever probabilistic flood model for Canada that enables insurers to assess their exposure to flood, Canada’s most frequently occurring natural hazard. Large areas of Canada experience …

U.K.’s EC3\Legal Appoints Schrauwers as Chairman

London-based EC3\Legal* has announced that highly respected insurance industry figure, Cees Schrauwers, has joined the company as chairman. Schrauwers, who has more than 35 years’ financial services experience, is a former managing director of Aviva International and managing director of …

Walkiewicz and Guo Appointed Willis Capital Markets & Advisory Co-CEOs

Willis Group Holdings has confirmed Rafal Walkiewicz and Michael Guo as co-CEOs to lead Willis Capital Markets & Advisory (WCMA), the firm’s insurance investment banking business. They will succeed Tony Ursano, who has led WCMA since 2009. “WCMA advises clients …

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