International News

Willis Exec Warns on Increasing Urbanization Risks

One of the principal concerns for the movers and shakers meeting in Davos has been the increasing tendency of global populations to move from villages and farms to cities. With up to three-quarters of the global population expected to live …

Allied World Europe Appoints Reuben, Assistant VP, Marine Liability

Allied World Assurance Company Holdings, AG announced that “Allied World Europe will enter the marine liability market, which will further complement the company’s current marine cargo offering.” Allied World has appointed Pene Reuben, Assistant VP, Marine Liability, to develop and …

Swiss Re CEO Says Infrastructure Investment, Insurers Good Match

Swiss Re AG Chief Executive Officer Michel Lies called for the creation of a special infrastructure asset class to allow insurers to invest in projects such as roads and bridges. “If you take all the insurance industry, all the money …

RSA Vows to Fight Case Taken by $39,000 a Month Ex-Irish CEO

RSA Insurance Group Plc said it will fight a constructive dismissal case filed by the former head of its Irish unit, who stepped down more than a year ago amid an accounting scandal. Philip Smith, who was paid €34,000 ($39,400) …

Gen Re Makes Management Changes; Jones, Ferrero Co- Presidents

General Re Corporation has announced senior appointments at General Reinsurance Corporation, the group’s global direct Property/Casualty reinsurance operation. Robert M. Jones will serve as co-President and Chief Marketing Officer for global marketing. Carole M. Ferrero will also assume the title …

Smaje Appointed Willis GB Chief Broking Officer; Rooley for Aerospace

Willis Group Holdings, the global risk adviser, insurance and reinsurance broker, announced that it has promoted Philip Smaje to Chief Broking Officer for Willis GB, the operating segment that includes Willis’s UK retail insurance business, facultative and London specialty businesses. …

Allianz Re CEO Ahmed Says Rate Reductions May Abate in 2015

Rates charged by reinsurers, which have been falling for most of the past decade, may decline more slowly this year, the head of Allianz SE’s reinsurance division said. “Our assessments show that rates in some parts of the market are …

ABI Launches Campaign for ‘Flood Free’ Homes

the Association of British Insurers announced that it has launched a campaign for Flood Free Homes, ”supported by Friends of the Earth, Know Your Flood Risk, National Flood Forum, and the Property Care Association’s Flood Protection Group.” The ABI said …

Reinsurance Execs See Market Adjusting to New Realities

Aon Benfield’s Reinsurance Market Analysis describes the participants as having “reached the end of a 15 year journey, featuring chronological stages of alternative capital’s significance, completion and finally disruption.” From the interviews with two  reinsurance industry executives that seems to …

Aon Benfield Acquires Portfolio of Swiss Specialist Broker Sipex

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced that it has acquired the entire portfolio of in-force business of Sipex Insurance and Reinsurance Brokers SA, an insurance and reinsurance broker based in Switzerland, which specializes …

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