Property and casualty underwriter ACE has registered net income of $765m or $2.22 per share, for the fourth quarter of 2012, up by 4% from $735m or $2.15 during the same quarter last year. Income excluding net realized gains or losses ...
Tags: Property underwriter, casualty underwriter, reinsurance
PVI Sun Life Insurance has received regulatory approval from both Vietnam and Canada regulators to operate its life insurance business in Vietnam. Set up as a joint venture (JV) between PVI with 51% stake and Sun Life Assurance Company of ...
Aon Benfield has unveiled a new weather reinsurance product, WExcess, intended to mitigate adverse weather losses for UK insurers. Developed in collaboration with reinsurer Swiss Re and weather risk management specialists CelsiusPro, the ...
Tags: reinsurance product, Aon, reinsurance
Commercial lines writer W R Berkley has established a new underwriting firm, Berkley Southeast Insurance Group, to offer commercial insurance services and expertise in six southeastern states in the US. Based in Atlanta, Georgia, the new ...
Tags: Insurance Group, underwriting firm, insurance products
Global insurance broker Aon is planning to shut down its subsidiary in Zimbabwe, which provides insurance broking and employee benefit services in the country. An undisclosed source from Aon Zimbabwe was quoted by ZimEye as saying, "Aon ...
Health insurer Aetna has signed a four-year reinsurance arrangement with Vitality Re IV Limited, a Cayman Islands domiciled exempted company. Signed as part of Aetna's long-term capital management strategy, the agreement enables the ...
SCOR Global Life Americas has appointed Francisco de Toledo Neto as the new president of its Brazilian operations, SCOR Life Brazil, to tap the growing business opportunity of life-health reinsurance market in the country. Toledo joins ...
Tags: life health reinsurance market, reinsurance market, primary insurers
Minneapolis-based mutual holding company Constellation has been launched to help the physician-owned medical liability companies collaborate for common benefit. Originally established by Midwest medical liability company (MMIC), ...
Tags: Constellation, edical liability, MMIC, insurers
Everest Re Group has established a new Bermuda domiciled special purpose reinsurer, Mt. Logan Re, to provide collateralized capacity to the worldwide property catastrophe reinsurance market. With an initial funding of $50m, the company ...
Tags: reinsurer, reinsurance market, Everest Re, reinsurance marketplace
American International Group(AIG)has inked a$400m reinsurance transaction with Compass Re to provide peak-zone protection against US hurricanes and earthquakes. In order to fund its potential obligations to AIG,Compass Re has also issued ...
Tags: AIG inks, 400m dollars reinsurance coverage, deal with Compass Re
Allied World Financial Services,a subsidiary of Allied World Assurance Company,has agreed to acquire a minority ownership interest in a privately held asset management firm Crescent Capital Group. Further terms of the transaction have not ...
Tags: Allied World Financial Services, minority stake in Crescent Capital
Arch Capital Group (ACGL) has successfully completed Canadian insurance and reinsurance operations domestication under a new legal entity named Arch Insurance Canada Ltd. (Arch Canada). Since 2005, Arch Canada has been operating as ...
Tags: Arch Capital Group, Arch Canada, ACGL, insurance, reinsurance operations
Auto-Owners Life Insurance has selected a new end-to-end system, MphasiS-Wyde Wynsure software, for its life policy issuance and administration, billing, claims and reinsurance. Selected against several other competing vendors, the ...
Tags: Auto Owners, Life Insurance, system, MphasiS Wyde Wynsure software
Argo Group International Holdings, a Bermuda-based underwriter of specialty insurance and reinsurance products, has established the first sidecar for the 2013 accident year. Named Harambee Re 2013-1, the newly set up sidecar, will support ...
Tags: Argo Group, insurance products, reinsurance products, insurance
PartnerRe, a provider of diversified reinsurance services, has completed acquisition of California-based Presidio Reinsurance Group. Presidio Reinsurance Group is a specialty accident and health reinsurance and insurance writer, ...
Tags: PartnerRe, reinsurance services, acquisition, Presidio