The ACE Group, a provider of insurance and reinsurance services, has appointed Juan Alberto Vélez Arredondo as its new regional president for Latin America, ACE Life. Reporting to ACE Life president Russell Bundschuh, Velez will be ...
Tags: ACE Group, insurance, reinsurance service, insurance service
US commercial automobile insurer Atlas Financial Holdings has signed a definitive agreement to acquire Camelot Services, and its lone insurance subsidiary, Gateway Insurance, for nearly $23m. As per the terms of the deal, the purchaser ...
Tags: Financial, Insurance, automobile insurer, insurance subsidiary
Aspen Insurance Holdings has reshaped the management of its insurance segment in order to hold a firm grip in the underwriting industry. The company has appointed its current co-CEO Rupert Villers as chairman of Aspen Insurance and ...
Tags: Aspen Restructures, Aspen Insurance Holdings, insurance segment
Aviva has shortlisted Prudential and Manulife from the four potential buyers, which were selected from a second stage of bidding for Aviva's insurance business in Malaysia. The Malaysian underwriting business of Aviva is expected to fetch ...
Italy based underwriter Generali is planning to dispose of its non-strategic assets in 2013, to boost its overseas operations and expand into China and the rest of Asia, Eastern Europe and Latin America, and other emerging market. ...
Tags: non-strategic assets, Generali, insurer
Zurich Insurance has reported a net income of $1.14bn for the first quarter of 2012, compared to $640m for the same period in 2011. Business operating profit for the first quarter of 2012 surged to $1.38bn, compared to $854m in the ...
Tags: Zurich Insurance, insurance industry, insurance market, net income
PVI Holdings and Sun Life Assurance Company of Canada, has entered into an agreement to establish a joint venture, called PVI Sun Life Insurance Company Limited (PVI Sun Life) to offer innovative life insurance products to customers in ...
Tags: life insurance, joint venture, PVI Sun Life Insurance, insurance product
Aviva, one of the largest underwriters in the UK has overhauled its senior management team to gain additional foothold in the insurance arena. According to the insurer, it has appointed David McMillan as the director group transformation ...
Tags: Aviva, senior management, insurance arena, insurance
US based property and casualty underwriter Tower Group has announced sale of its health insurance business for $102m to Australian private health insurer NIB Holdings. Subject to clearance from the Overseas Investment Office, the sale is ...
Tags: Tower Group, health insurance, insurance, insurance product
ACE Group, a multiline property and casualty insurer has promoted two officers with immediate effect as part of its efforts to strengthen its management and underwriting team. Current Major Risks casualty manager Mike Reid has been ...
Tags: ACE Group, casualty insurance, insurance industry, insurance
Insurance and healthcare firm Max India is likely to offload nearly 5% stake in its life insurance joint venture, Max Life Insurance, with Mitsui Sumitomo Insurance, to long-term foreign financial investors. The move follows the recent ...
Tags: India, insurance, healthcare, life insurance
New Jersey-based Prudential Financial has reported first-quarter net loss for its financial services business at $988m or $2.09 per share, compared to net income of $539m or $1.10 per share during the same period in 2011. Financial ...
Tags: Prudential Financial, financial service, net income, quarter 1, finance
The ACE Group, a provider of insurance and reinsurance services, has made two new management appointments within its Continental Europe region, with an aim to boost underwriting capabilities across the region. The insurer said that Jerome ...
Tags: ACE Group, insurance, reinsurance, management appointment
Japanese multinational conglomerate Nomura is seriously mulling to dispose or refinance its ING’s insurance unit in Japan, particularly its variable annuity business, with an aim to boost its capital base. A consortium including ...
Tags: Nomura, capital base, ING, insurance
Thailand is likely to be boosted as the Asean insurance centre, in an effort to help enhance the industry to provide related services to developed economies, the country's Office of the Insurance Commission (OIC) has revealed. The country ...
Tags: Asean insurance centre, Thailand, insurance, Asia