International News

Zurich Insurance Prepares Financing Ahead of Possible Offer for RSA: Sources

Zurich Insurance Group AG is raising financing ahead of a possible takeover offer for RSA Insurance Group, according to people familiar with the matter. The Swiss insurer is talking to banks about raising more than $4 billion, said two of the people, who asked …

Marsh Completes Acquisition of UK-Based SME Insurance Services

Marsh has completed its previously agreed acquisition of Leeds, England-based SME Insurance Services (SMEi), an independent broker which provides specialist commercial insurance to small and medium-sized enterprises across the UK. The transaction was announced on June 1. The addition of …

TigerRisk Enters China Market with Opening of Hong Kong Office

TigerRisk Partners LLC announced its first presence in Asia with the opening of the Hong Kong office of its subsidiary TigerRisk China Partners. TigerRisk China Partners is a member of the Hong Kong Confederation of Insurance Brokers, effective July 30. …

Delta Lloyd’s CFO Resigns After Dutch Court Upholds Central Bank Fine

Delta Lloyd NV Chief Financial Officer Emiel Roozen resigned after a Rotterdam court upheld a decision by the central bank to fine the insurer. The company won’t appeal the court ruling as it “seeks to resolve the situation as soon …

Best Places Ironshore & Subs Ratings under Review with Negative Implications

A.M. Best has placed under review with negative implications the financial strength rating of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Ironshore Insurance Ltd. (Bermuda) and its affiliated operating companies: Ironshore Indemnity Inc. (Minneapolis, MN), Ironshore …

Willis Appoints Dussuyer Global Head of Natural Resources Industry

Willis Group Holdings announced the appointment of Nick Dussuyer as Global Head of Willis’s Natural Resources Industry with immediate effect. Dussuyer joins from BearingPoint where he was member of the global Natural Resources leadership team and the Partner in charge …

Aon’s Q2 2015 Earnings Report: Total Revenue -4%; Net income –41%

Aon’s second quarter earnings report highlights some of the difficulties the re/insurance industry is experiencing. Total revenues from Aon’s combined sector activities decreased by four percent to $2.80 billion from $2.913 billion in Q2, 2014. The percentage decline for the …

Brit Reports H1 After-Tax Profit of US$6.4M, Compared to $94.5m in 2014

London-based Brit plc, which completed its merger with Fairfax Financial Holdings in the first half of this year, reported operating profit before foreign exchange and transaction related expenses of $70.9 million, compared with $172.3 million in the first half of …

Arch Reports Q2 Net Income of $110.3M, Compared to $202.5M in Q2 2014

Arch Capital Group Ltd., headquartered in Bermuda, reported second quarter net income of $110.3 million, or $0.88 per share, compared to $202.5 million, or $1.48 per share, for the 2014 second quarter. Net income available to Arch common shareholders for …

Best Analyzes Changes to Brazilian Local Reinsurance Market

A.M. Best has released a new briefing focusing on the National Council of Private Insurance issuance of CNSP Resolution CNSP No. 322, which decreases the amount of premiums that Brazil’s local insurers must “place” with local reinsurers, from 40 percent …

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