February 2017/3

A 3 percentage point cut in the UK's Ogden discount rate for personal injury compensation would lead to a one-off reserve charge for the insurance industry of about £4.9bn ($6.1bn), according to Willis Towers Watson.

Insurers could face additional earnings pressure and further reserve strengthening as a result of a cut to the so-called Ogden rate, which is expected to be announced later this month.

Aon is seeking $54mn after a raid by rival broker Alliant reduced its central California team of more than 80 people to just seven almost overnight.

Allianz CEO Oliver Bäte has roundly rejected suggestions his firm's EUR3bn ($3.2bn) share buyback means it is no longer considering M&A deals, and claimed the carrier had the financial strength to do both.

Fairfax Financial's fourth quarter loss could hardly have come at a worse time for the Toronto-based firm, whose leader, CEO Prem Watsa, is often referred to as the Warren Buffett of Canada.

AIG stock plummeted almost 10 percent following the publication of the company's Q4 results last week as investors punished a $5.6bn reserve charge.

Analysts have cast doubt on AIG management's execution of its recovery strategy after the company revealed another multi-billion-dollar reserve in its fourth quarter results.

AIG's mammoth $5.6bn reserve charge dominated headlines last week, but there was also significant disclosure on the insurer's landmark adverse development cover (ADC) with Berkshire Hathaway in its fourth quarter earnings presentation.

New Lloyd's chairman Bruce Carnegie-Brown proved his calibre handling the fallout from New York Attorney General Eliot Spitzer's investigation of contingent commissions while he was CEO of Marsh Europe and Middle East, according to multiple well-placed market sources.

After looking set for a merger with Endurance following its parent's agreed $6.3bn acquisition of the Bermudian (re)insurer, Sompo Canopius may now continue as a standalone entity.

Zurich is the lead insurer on a $120mn political risk claim caused by the conflict in Ukraine, The Insurance Insider understands.

The difference between the functions of the chairman of Lloyd's and his or her powers are quintessentially British in their ambiguity.