China’s seasonal “Mei-Yu” rainfall in July led to the worst flooding since 1998, bringing total combined economic losses of an estimated US$33 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Affecting the Yangtze …
Third Point Reinsurance Ltd., the company that counts on hedge fund manager Dan Loeb to oversee investments, posted its biggest profit since 2013 as his portfolio rebounded. Second-quarter net income more than tripled to $53.4 million, or 51 cents a …
Specialist Lloyd’s insurer Neon has appointed Olly Reeves to the role of chief risk officer. He will join Neon on Nov. 1, 2016 from his current role as head of Risk Management at Lloyd’s of London. Subject to regulatory approval, …
Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in London trading. Aviva, the U.K.’s second-largest insurer, posted a 13 percent …
London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Kadidja Sinz to the new role of head of Europe. Sinz will be responsible for leading and directing the specialty and commercial insurance business in Continental Europe. …
Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee investments, posted its fifth loss in six quarters as the portfolio slumped. The second-quarter net loss widened to $63 million, or $1.69 a share, …
ANV Global Services Ltd, the international managing general underwriter (MGU) of global specialty insurance group ANV, has today announced an increase in its Lloyd’s underwriting capacity for mergers and acquisitions insurance. The line will now offer a limit of €40 …
Assicurazioni Generali SpA, Italy’s biggest insurer, said second-quarter profit fell 6 percent as low interest rates and volatile equity markets hurt investment gains. Net income declined to 590 million euros ($654 million) from 626 million euros a year earlier, the …
Manulife (International) Ltd. and QBE Hongkong & Shanghai Insurance Ltd. have formed an exclusive distribution agreement whereby QBE will supply general insurance products in Hong Kong for distribution through Manulife’s agents. Designed to complement Manulife’s life, pensions and wealth management …
AXA, Alibaba and Ant Financial Services have formed a global strategic partnership to explore opportunities to distribute AXA’s insurance products and services through Alibaba’s global e-commerce platforms. The companies plan to work together to develop products and services, while developing …