International News

Capsicum Re Hires Bousfield, Palmer and O’Dwyer-Smith to Cyber Team  

Capsicum Re*, the specialist reinsurance broker, announced it has hired Patrick Bousfield, Jane Palmer and Alice O’Dwyer-Smith to its cyber team. They are based in the London office and report to Ian Newman, a partner in Capsicum Re’s London property …

Dublin Looks to Lure Financial Services Jobs from UK After Brexit Vote

Irish recruiters are already filling jobs for financial services firms which are shifting some operations from the United Kingdom, with Dublin moving fast to steal a march on rivals just a month after Britons voted to leave the European Union. …

Reinsurance Cycle Is Not Dead Yet so Buyers Need to Put It to Good Use: JLT Re

Despite proclamations by some observers that the reinsurance cycle is dead, JLT Re says, reports of its demise are greatly exaggerated – and now is the time for buyers to use the cycle, and reinsurance, to their advantage. Rates are …

XL Group Completes Relocation of Domicile to Bermuda

XL Group Ltd. announced it has completed its redomestication to change the place of incorporation of the ultimate parent holding company to Bermuda from Ireland. As previously announced, the name of the new holding company is XL Group Ltd. XL …

Correction: Catalina to Buy Hartford Financial Products International & Downlands Liability Management

(Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International & Downlands Liability Management.” Insurance Journal regrets the omission.) Catalina Holdings (Bermuda) Ltd. announced its wholly …

Growth of China’s Shadow Banking Hikes Financial Risks for Banks, Insurers: Moody’s

Shadow banking activity in China has expanded further and now accounts for nearly a third of the total banking sector assets, raising financial risks in the world’s second-largest economy, rating agency Moody’s Investor Service said on Wednesday. Shadow banking assets …

Catalina to Buy Hartford Financial Products International & Downlands Liability Management

(Editor’s Note: The original version of this article published yesterday, July 26, omitted “International” from the headline “Catalina to Buy Hartford Financial Products International & Downlands Liability Management.” Insurance Journal regrets the omission.) Catalina Holdings (Bermuda) Ltd. announced its wholly …

Everest Re Group Reports Q2 Net Income of $155.7M vs. $209.1M in Q2 2015

Bermuda-based Everest Re Group Ltd. reported second quarter 2016 net income of $155.7 million, or $3.67 per diluted common share, compared to net income of $209.1 million, or $4.68 per diluted common share, for the same period in 2015. After-tax …

Pen Underwriting Names Scott as Head of Cyber Liability, Driving Cyber Growth

Pen Underwriting announced that Adrian Scott has been appointed to the newly created role of head of Cyber Liability. Scott takes responsibility for enhancing Pen Underwriting’s capabilities in cyber risk management and insurance, building a dedicated team of sector specialists …

Ship Hits Wall of Newly Expanded Panama Canal in 3rd Incident in a Month

A Chinese container ship hit a wall of the new lane of the Panama Canal, a Canal Authority official and a local ship agent said on Monday, the third such incident since the expanded waterway opened one month ago amid …

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