One of the largest ever Indian petrochemical reinsurance policies has been placed in the London market, after Reliance Industries increased the production capacity of the world's largest refinery complex, The Insurance Insider understands.
The launch of the second phase of motor insurance pricing reforms in China will increase volatility in P&C insurers' underwriting performance over the next two years, according to rating agency Standard & Poor's
Axa is targeting EUR300mn ($349.7mn) in savings over the next two years, with a 25 percent reduction in "central functions" costs, the insurer said today.
Third party managing agent Asta has received final clearance from Lloyd's to commence writing for another full syndicate in 2018, as a host of others are kept waiting.
The niche aviation hull war market is facing the prospect of an underwriting loss for 2017 following the confiscation of two Siam Air Transport planes, The Insurance Insider can reveal
Allianz Global Corporate & Specialty (AGCS) has become the latest insurer to enter the blockchain arena with a trial of a global captive programme that enables cash transfers between countries.
AM Best has ratcheted up the pressure on AmTrust by placing key ratings on review with negative implications after revising the carrier's outlook downward in February.
Probitas Syndicate 1492 has hired Marcus Bale, the former active underwriter at defunct ProSight Specialty Syndicate 110, as head of strategy and development for its nascent retail business
Actuarial analysis carried out on behalf of the Florida Hurricane Catastrophe Fund (FHCF) has suggested that its losses related to Hurricane Irma could reach $6bn
Richard Brindle's Fidelis Insurance has launched its first MGA, Radius, two months ahead of schedule, as it seeks to take advantage of favourable trading conditions
Storm Herwart, which hit large parts of northern and central Europe over the weekend, is set to cost German property insurers some EUR250mn, according to actuarial specialist Meyerthole Siems Kohlruss.
The London Market Association (LMA), working in conjunction with the International Underwriting Association, has concluded a five-year deal with long-time service provider Xchanging worth £500mn ($658.6mn), as predicted by The Insurance Insider.
Japanese insurer Aioi Nissay Dowa Insurance (ADI), part of MS&AD, has become the latest insurer to announce plans to establish its European subsidiary in Luxembourg following the UK's decision to leave the European Union.
A number of Lloyd's syndicates are set to take advantage of propitious pricing conditions next year with significant planned increases in stamp capacity, The Insurance Insider can reveal.
Lloyd's Franchise Board has granted managing agency Apollo in-principle approval to establish Special Purpose Arrangement (SPA) 6133, which will reinsure a portfolio of property catastrophe business underwritten into its main Syndicate 1969
XL Group is already seeing double-digit rate rises for short-tail lines, with loss-affected accounts showing higher increases, according to Greg Hendrick, president of property and casualty insurance and reinsurance.
Reinsurance-focused InsurTech start-up Insurdata has raised $1m in seed financing from investors including Menlo Ventures, Anthemis Baloise Strategic Ventures and Plug and Play.
In a clear indication of the extent to which diversification into specialty lines has helped drive recent London company market growth, an analysis by the International Underwriting Association (IUA) has shown that so-called "other" premium rose 26 percent in 2016
India's largest general insurer, the state-owned New India Assurance (NIA), is understood to be targeting an IPO that will raise some $1.5bn, according to reports
The Hartford's ongoing market valuation will ultimately depend on its ability to slough off its unloved run-off variable annuity business Talcott Resolution, according to analysts
Hannover Re has dampened expectations of a widespread and significant uptick in catastrophe rates at the 1 January treaty renewals, saying prices for German nat cat covers "should at least remain stable".
The Hartford has surprised the market with a $1.45bn move to acquire Aetna's US group life and disability business, despite widespread speculation that the company had been looking to transition to an almost pure-play P&C insurer.
Those waiting for signs of the impact on insurance rates from the spate of third quarter hurricanes will have to wait until the New Year, according to Brown & Brown CEO Powell Brown
Expansive insurance group Ardonagh is set to seal a deal to acquire UK motorcycle specialist Carole Nash for just over £60mn ($78mn) from French insurer Groupama, The Insurance Insider can reveal.
Enstar co-founder Nick Packer, who left the legacy giant at the end of last year, has resigned as CEO of total return reinsurer KaylaRe after less than a year in post, The Insurance Insider can reveal.
Willis Towers Watson (WTW) has hired two senior underwriters from Mapfre Re as it looks to expand its facultative capabilities in German-speaking countries in Europe.
Lloyd's broker Lonmar Global Risks has hired fine art & specie veteran Charles Ross as an executive director in its Lonmart division as it looks to expand its reinsurance offering.
PartnerRe's former head of direct and facultative (D&F) business, Dom Tobey, has secured Berkshire Hathaway support for his latest venture, Texas-based managing agency Kemah Capital.
The Financial Conduct Authority (FCA) swooped on five aviation brokers in London simultaneously in the first week of April, seizing computers as part of a probe into the misuse of confidential client information, The Insurance Insider has learned.
Swiss Re Corporate Solutions has agreed to form a joint venture with Bradesco Seguros, the insurance arm of Bradesco Group, ending months of speculation about a deal between the two firms.
Leading figures in the Italian (re)insurance market have urged the government to reconsider its approach to introducing a natural catastrophe consortium following last month's tragic earthquake
Lloyd's Performance Management Directorate (PMD) has carried out a class review of accident and health (A&H) business amid concerns about underwriting standards in some sections of the class, sister title Inside FAC has revealed
Emerging casualty reinsurance risks could eventually grow to exceed the current alternative capital supporting the reinsurance market, according to Greg Hendrick, XL Catlin's reinsurance CEO
FM Global looks set to pick up a sizeable proportion of an estimated $70mn claim following the total loss of a major warehouse in Chicago last month, Inside FAC revealed earlier today (9 May).
The relentless pressure on US property fac rates has continued apace, with some of the largest cat renewals seeing reductions of 10-20 percent, sister title Inside FAC reported earlier today (9 May).
After a series of hefty cuts in recent years, leaders writing US Gulf of Mexico (GoM) windstorm risks were seemingly the only segment of the energy (re)insurance market offering some resistance to further substantive rate reductions in the first quarter, according to JLT Specialty.
The product recall market looks set to escape a potentially significant exposure to US confectionery giant Mars after an international recall of chocolate bars was announced last month, Inside FAC understands.
The power and utilities (re)insurance markets are bracing themselves following two major incidents at Colombian power plants that are threatening the country's supply of electricity, sister publication Inside FAC revealed on 7 March.
Ace leads the property programme for Brazilian mining company Samarco Mineração, which is facing a potential $450mn loss after a tailings dam burst at its Minas Gerais iron ore operation on 5 November, according to sister title Inside FAC.
Ace is the lead insurer for the Brazilian mining company facing a $450mn loss after a dam collapsed earlier this month, sister title Inside FAC revealed today (12 November)
London market cyber insurers are closely monitoring developments following the hacking attack on UK mobile phone and broadband provider TalkTalk Telecom Group, with suggestions it could generate one of the UK's largest cyber claims to date.