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Company Example A

Overview
Content
Data

Company type

Insurance-Linked Securities (ILS) and Investment Managers

Miscellaneous

Founded
1896

Major offices

Zurich, CH (headquarters)
Nassau, BS

Officers

Smedley MacGuffin (CEO)

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  • The cyber claims experience in 2016 suggests the line of business behaves far more like a crime product than a liability product in terms of losses, panellists said yesterday at an Advisen cyber conference in London.
  • John Sutton and Toby Humphreys are to leave Integro after leading the broker's UK operation since 2005.
  • Swiss Re appears to have been caught off guard with its reserving policies after the UK government last week cut 3.25 percentage points from the discount rate shaved off lump-sum bodily injury compensation.
  • Philadelphia-based broker The Graham Company has rejected offers from industry consolidators and private equity firms in favour of employee ownership.
  • Florida Citizens Property Insurance is expecting an increase in business as a result of Demotech's warning that local insurers with less than $25mn surplus may be downgraded, according to its chief financial officer Jennifer Montero
  • Novae has had a difficult run, with the Ogden rate change capping a period that has seen the departure of its respected CFO and a profits warning that telegraphed a significant book value drop.
  • Catalina's owners are looking to capitalise on the "legacy moment" via a bid process that they hope will allow them to crystallise their gains and secure a $1bn valuation.
  • A Hong Kong government advisory group has claimed the region is "facing a serious challenge" as a (re)insurance hub and recommended a series of regulatory and legislative changes to make it more attractive.
  • Doubts over the future of AIG president and CEO Peter Hancock have stirred debate over who might feature on a shortlist of potential candidates to replace him.
  • The decision of Lord Chancellor and Justice Secretary Liz Truss to push the discount rate to minus 0.75 percent stems from a 1999 House of Lords ruling that predates the dotcom crash, the subsequent bull market and the ensuing credit crisis - and that critics say has little relevance today.