International News

Everest Re CEO Addesso Contract Is Extended Through 2019

Dominic Addesso, president and CEO of Bermuda-based Everest Re Group Ltd., has gotten a contract extension. The Bermuda-based reinsurer and insurer said he will remain in both roles through Dec. 31, 2019. Addesso has issued a short statement about the …

Global Regulators’ Rethinking of Risk Assessment Welcomed by Large Insurers

Global regulators are rethinking how to assess risks in big insurance companies, marking a shift that could make life easier for the industry. The Financial Stability Board said on Tuesday it could take a different approach to assessing risk which …

UK P&I Club Chooses Dublin as EU Headquarters After Brexit

British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for Ireland in two days. …

Factbox: Growing List of Insurers Decide on Post-Brexit EU Headquarters

Sompo International Holdings, a Bermuda-based unit of Japanese insurer Sompo, said it will set up a subsidiary in Luxembourg, in case Britain does not have access to the single market after Brexit. Below are insurers’ plans for EU subsidiaries (in …

China’s Ping An Is World’s 2nd Largest Insurer by Market Value After Berkshire

A surge in Ping An Insurance (Group) Co.’s shares this year has made it the world’s second-largest insurer by market value behind only Berkshire Hathaway Inc. And the rally may not be done yet. Shares of the Chinese insurer, which …

Reinsurance Sector’s Share of Hurricane, Quake Losses Is $20B-$25B: A.M. Best

Cumulative net catastrophe losses for reinsurance companies from Hurricanes Harvey, Irma and Maria, along with the Mexico earthquakes, are between $20 billion-$25 billion out of an overall industry loss of $90 billion, according to calculations issued by A.M. Best. “We …

XL Catlin Taps Coladon from The Guaranty as Fine Art & Specie U/W in Canada

XL Catlin has appointed Farzina Coladon as underwriter, fine art and specie (FAS) in Canada. Coladon is responsible for underwriting fine art, jewelers block and general specie insurance across Canada. Based in Toronto, Coladon, joined on Nov. 6 and is …

Pen Underwriting Builds on QBE Partnership with Irish P/C Capacity Deal

Pen Underwriting has extended its strategic relationship with QBE into the Republic of Ireland, with a new property & casualty capacity partnership in the highly specialist area of hazardous goods & environmental industries. The new partnership takes effect on Jan. …

Technology Risk Mgmt Association TechAssure Names New Member in Germany

TechAssure, the international nonprofit association of insurance and risk management experts for technology-related risks, has named German insurance brokerage BüchnerBarella as a new member, effective immediately. Headquartered in Giessen, Germany, BüchnerBarella is an independent, full-service insurance brokerage firm that specializes …

UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub

British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a move. Insurers are making …

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