International News

Soft Market Is Main Factor Limiting Growth of UK MGAs: Survey

Soft market conditions have replaced regulation and compliance as the main factor affecting growth for UK managing general agents (MGA) in 2017, said a survey of members of the London-based Managing General Agents’ Association (MGAA). The soft market was cited …

Platt Named COO of Aon Risk Solutions; Moran Is CEO of Aon Inpoint

Aon plc announced the appointment of James Platt as chief operating officer of Aon Risk Solutions and Michael Moran as chief executive officer of Aon Inpoint. Both roles are effective immediately. Platt will be based in London, working closely with …

Lloyd’s to Open India Branch Ahead of April Renewals

Lloyd’s, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory approval from the Insurance Regulatory Development Authority of India (IRDAI). This will enable …

Zurich to Cut 240 UK Jobs as Life, General Insurance Arms Combine

Zurich Insurance Group AG plans to slash about 240 jobs in the UK as part of broader efforts to bring its Life and General Insurance division under a single leadership team. Zurich disclosed the new UK structure on Jan. 19, following …

Aon in Talks to Sell Benefits Outsourcing Division: Reuters

Insurance broker Aon Plc is in advanced talks to sell its employee benefits outsourcing unit to buyout firm Clayton Dubilier & Rice LLC for nearly $4.5 billion, people familiar with the matter said on Thursday. The divestiture would undo much …

Skuld Purchases SMA/Gerling Norway, Now Renamed Skuld Marine Agency

Skuld announced that on Jan. 12, 2017 it has completed its acquisition of SMA/Gerling Norway, which has been renamed Skuld Marine Agency (SMA). Skuld is now the owner of 100 percent of SMA shares, “free of any encumbrances,” the company …

Canada’s Energy Firms at Risk from Cyber, Bomb Attacks: Security Service

Canada’s main spy agency last year warned energy companies about an increasing risk of cyber espionage and attacks on pipelines, oil storage and shipment facilities and power transmission towers using homemade explosives, according to a classified document seen by Reuters. …

Allianz & Standard Chartered Form Bancassurance Partnership in Asia

Standard Chartered Bank and Allianz have formed a 15-year bancassurance partnership for the distribution of Allianz’s general insurance products, including travel, personal accident, fire and motor insurance products, to Standard Chartered’s retail banking clients in five key markets across Asia. …

Global Temperatures Hit Record High for 3rd Year in Row in 2016

World temperatures hit a record high for the third year in a row in 2016, creeping closer to a ceiling set by the Paris climate change deal, with extremes including unprecedented heat in India and ice melt in the Arctic, scientists said on …

XL Catlin Appoints Middleton to Manage Ceded Reinsurance Placements

XL Catlin’s P&C Underwriting Capital Management operation has appointed Anne Middleton to manage its ceded reinsurance placements globally. In her new role, Middleton, who is based in Londo, will be responsible for overseeing and negotiating the terms, structure and pricing of XL Catlin’s …

International News Archives by Month