February 14, 2019
Fitch Ratings has upgraded the insurer financial strength (IFS) ratings of Japanese insurer Mitsui Sumitomo Insurance to “A+” (Strong) from “A”. Fitch also affirmed MSI’s issuer default rating (IDR) of “A” and the rating on its subordinated debt at “A-“. …
December 21, 2018
Japanese insurance group MS&AD Insurance Group Holdings (MS&AD) has agreed to increase its minority stake in ReAssure, Swiss Re’s UK closed life book consolidator, by making an additional cash investment of £315 million ($398.7 million). The transaction, which is subject …
October 4, 2018
The recent run of large natural disasters to hit Japan likely has put downward pressure on the creditworthiness of the nation’s three largest non-life insurance groups, according to S&P Global Ratings in a market briefing. Following July’s heavy rains, Typhoon …
August 3, 2018
Pricing pressure in the reinsurance industry weighed on Swiss Re’s first-half earnings, overshadowing a drop in natural-catastrophe claims. The company said it’s exploring an initial public offering for its U.K. closed-book business. Swiss Re’s net income fell to $1 billion …
January 4, 2018
MS Amlin announced that Simon Beale, MS Amlin’s chief underwriting officer, will succeed Charles Philipps as CEO on April 1, 2018. With immediate effect Simon Beale will become deputy CEO, James Illingworth will become chief underwriting officer and Martyn Rodden …
October 7, 2016
Mitsui Sumitomo Marine Management, Inc. (MSMM) and MS Amlin plc, its sister company, have formed a new partnership with Air Centurion to write the U.S.-based aviation and aerospace accounts for Mitsui Sumitomo Insurance Company of America, complimenting a portfolio written …
August 18, 2016
Allianz SE, Europe’s biggest insurer, and France’s AXA SA were among first-round bidders for the rights to distribute general insurance products through Standard Chartered Plc outlets in Asia, according to people with knowledge of the matter. A unit of MS&AD …
July 28, 2016
Telematics data was successfully used to defend a driver in a liability trial in England, according to Insure The Box Ltd., a telematics-based car insurer. The strength of the telematics data prove the policyholder’s case, in contrast to the third …
October 8, 2015
The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for about 160 so-called …
July 17, 2015
Japanese insurers including MS&AD Insurance Group Holdings Inc. and Sompo Japan Nipponkoa Insurance Inc. are seeking mergers with peers in the United States, as a declining population at home forces them to pursue markets that are growing overseas. Prime Minister …