The shareholders of American Safety Insurance Holdings (ASI) have approved the agreement and plan of merger of the company with Fairfax Bermuda Holdings. The agreement was signed on 2 June 2013, whereas it was amended on 7 August 2013. ...
Tags: Safety Insurance, Fairfax
UK-based Aon Risk Solutions, the global risk management business of Aon, has opened its new office at Cambourn Business Park in Cambridge. As part its domestic expansion plans, the firm has also expanded its existing offices in St Albans ...
Tags: Aon Risk
Germany-based reinsurance group Hannover Re is in discussions to acquire a minority stake in Lloyds Banking Group’s German arm, Heidelberger Leben, for approximately €100m ($133.5m). The sale of stake in Heidelberger Leben is ...
Tags: reinsurance, Hannover Re
Australian general insurer QBE Insurance Group has posted a net profit of $477m for the first half of 2013, a decline of 37% compared to $760m for the same period last year. Underwriting profit grew by 2% to $530m for the first half of ...
Tags: Insurance, general insurer
Bermuda-based global diversified insurance and reinsurance holding company Tower Group International (TWGP) has terminated its agreement to acquire American Safety Reinsurance (ASRe), from Fairfax Financial. Without disclosing reasons for ...
Tags: Tower Group, diversified insurance
Apollo Global Management (Apollo) has agreed to provide a set of heightened policyholder protections as part of Athene Holding's proposed acquisition of Aviva Life and Annuity Company of New York (Aviva New York). The New York's ...
Tags: Apollo, Policyholder Protections
Insurance management services provider Kane SAC has launched its new independent private catastrophe bond platform, the Kane SAC Note Program. The company also issued series 1-2013 notes, which have been listed on the Bermuda Stock ...
Allied World Assurance Holdings (Ireland) has reached an agreement with Gravity Underwriting (Gravity), to acquire its 21.2% stake, for an undisclosed sum. As per terms of the strategic alliance, Gravity will assist in business ...
Swiss Re Group has posted net profit of $786m for the second quarter of 2013, compared to $83m during the corresponding period earlier year, despite high level of natural calamities. Commenting on the financial performance in the quarter, ...
EQECAT, a subsidiary of ABSG Consulting, has released version 14 of its catastrophe risk modeling platform, risk quantification & engineering (RQE). The latest version of the platform includes updates to country/peril models, financial ...
Tags: Risk Modeling Platform
Global risk advisor, insurance and reinsurance broker Willis Group has named Michael Harden as the new CEO of Willis Re Bermuda, effective from 1 January 2014. Currently serving as chairman of Willis Re Australia, Harden has experience in ...
Tags: Bermuda Operations, Willis Re
Global multiline property and casualty insurer ACE Group has named Geoff Russell as its new regional senior professional indemnity underwriter for UK and Ireland, to boost underwriting capabilities throughout its network of regional ...
Tags: multiline property, ACE
International specialty insurance and reinsurance products provider Lancashire Holdings has entered into a conditional agreement to acquire Cathedral Capital Limited, a privately owned Lloyd's insurer, in a deal worth £266m in cash. ...
Tags: Lancashire, Cathedral Capital
Global insurance and reinsurance firm XL Group has appointed Mark McConico as vice president and underwriting manager of its US risk management group in Los Angeles. In addition, the company promoted Theresa Schlageter to senior vice ...
Tags: XL Group, Underwriting Manager
Global multiline property and casualty insurer the ACE Group has expanded critical catastrophe limits to $30m, throughout all its North American retail and wholesale broker-distributed commercial property lines of business. The company ...