April 2016/3

With first quarter earnings disclosures around the corner, market expectations have formed of bottom lines that will reflect both low catastrophe levels and rates that are contracting further.

Swiss Re is nearing a deal with Brazilian insurer Bradesco Seguros to create a large risks joint venture, according to local media reports.

The 7.0 magnitude earthquake that struck the Kumamoto prefecture of Japan in the early hours of Saturday morning (16 April) local time has forced the closure of factories belonging to Toyota, Honda, Mitsubishi and Sony.

Novae builds cyber; Capsicum Re confirms marine and energy duo; ArgoGlobal appoints NED; Early Ecuador quake estimates predict low losses; CIRC to name SIIs; Cyber hire at Aspen; PPL demos announced; TigerRisk recruits Kusche; Lloyd's signs Dubai framework ; TMK expands into property owners' insurance; Chubb Tempest Re appoints Lee-Amies; Fitch issues Chinese insurer warning; CCRIF lands major backers; IG increases Iran fall-back limit; UK motor rate rises stall; HSB approved for drone use; Comp

Account retention in Zurich's global corporate business in North America has remained high in 2016, despite the well-publicised challenges facing the insurer, according to unit CEO Paul Horgan.

Upheaval at some of the biggest players in the P&C industry has created opportunities for carriers and brokers as some programmes are re-marketed for the first time in years.

As the industry tries to develop cyber solutions that respond to buyers' broader needs, carriers are continuing to grapple with the fast-changing exposures to the peril.

The great debate over coverage for cyber exposures beyond the core network security and privacy product continued in earnest at the Rims annual conference last week, with little sign of resolution.

Aegis London's finance director James Halley is leaving the company, with two other senior members of staff resigning last week, The Insurance Insider can reveal.

Sompo Canopius has withdrawn from the food and beverage product recall market globally, The Insurance Insider understands.

China Minsheng Investment (CMI) has closed its acquisition of White Mountains' reinsurance arm Sirius, with the final purchase price set at $2.59bn, the seller said today (18 April).

Global carrier Allianz's reinsurance subsidiary Allianz Re has substantially reorganised its internal structure to reflect recent changes to its business activities.