International News

PartnerRe Reshapes $16B Investment Portfolio Under Elkann/EXOR’s Leadership

PartnerRe exited junk bonds and shifted funds into property as the reinsurer reshaped a $16 billion investment portfolio after being acquired by John Elkann’s EXOR SpA. EXOR’s approach is to focus on holdings that “we know and understand very well,” …

Aon Benfield Enhances Poland Flood Model

Impact Forecasting, Aon Benfield’s catastrophe model development team, has launched a new version of its catastrophe model to enhance understanding of the financial impact of floods in Poland. Aon Benfield is the global reinsurance intermediary and capital advisor of Aon …

AIG to Offer Crowdfunding Investor Protection in UK and Canada

American International Group Inc. has launched a new product for the global crowdfunding investment industry. This new insurance product was developed specifically to protect investors on equity crowdfunding platforms against issuer fraud. Crowdfunding platforms enable innovators to fund their ideas …

Chubb Names Polyblank to Head UK, Ireland Small-Medium Business Unit

Chubb has appointed Ruth Polyblank, currently head of Marketing and Customer Strategy for the UK and Ireland, to the new role of head of SME (small and medium sized enterprises) for the UK and Ireland. Polyblank will have overall management …

London Re/Insurance Market Faces Risk of Casualty Reserve Shortfall: PwC

There is a real risk that casualty reserves for business written in 2015 will run off at a loss in the future, according to PwC’s London re/insurance market review of reserve adequacy. PwC pointed to the fact that the strength …

Canada’s Oil Sands Facilities Prepare to Restart as Wildfires Begin to Slow

All of the Canadian oil-sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno. Alberta lifted mandatory evacuation orders for the last of …

Flood Damage from UK’s Winter Storms to Cost Insurers $2 Billion: ABI

Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds ($1.9 billion), the Association of British Insurers estimates. Three winter storms …

Everest Re Names Berry as Head of International Property Facultative Unit

Everest Re Group Ltd. has appointed Sean Berry as vice president and head of the Reinsurance Division’s International Property Facultative unit. Based in Everest Re’s Miami office, Berry will be responsible for worldwide property facultative underwriting, excluding business written out of …

China’s Ping An Joins Global Blockchain Consortium, Led by Fintech Firm R3

China’s second-biggest insurance company, Ping An Group, has become the first Chinese member of a global consortium led by fintech firm R3 which is working on ways blockchain technology can be used in financial markets, the companies said on Tuesday. Ping An …

Chubb Focuses on Continental European SMEs with ‘Easy Solutions’ Proposition

Chubb has launched Chubb Easy Solutions, its proposition for brokers and their small and medium sized clients in Europe. Backed up by a dedicated underwriting team, Chubb Easy Solutions provides cover through a simplified underwriting process, enabling brokers to obtain quotes …

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