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Investments prop up Lloyd’s 2016 profit

Lloyd's posted a stagnant 2016 pre-tax profit of £2.1bn ($2.6bn) amid a deteriorating underwriting performance, as it confirmed it had selected Brussels for its new EU subsidiary.

Catrin Shi, 30 March 2017
Ex-MS Amlin duo launch Yachtpod through Castel

Two superyacht specialists have broken away from MS Amlin to launch a venture through Castel Underwriting Agencies, The Insurance Insider can reveal.

Charlie Thomas, 30 March 2017
NN Group’s EUR2.5bn Delta Lloyd bid passes key test

Delta Lloyd’s shareholders overwhelmingly approved a EUR2.5bn ($2.7bn) takeover bid by NN Group at a special meeting today, moving the combination a step closer to completion.

Ted Bunker, 30 March 2017
Bermudians struggle to meet cost of capital: AM Best

Despite the biggest top line increase in the past five years, in 2016 the Bermuda (re)insurance market's returns on equity (RoE) shrank to their lowest level during that period, according to an AM Best analysis

David Bull, 30 March 2017
Aspen sets $30mn reserve increase on Ogden rate

Aspen joined the lengthening roster of (re)insurers – many of them US-based – in reducing first quarter earnings expectations after the UK Ogden rate cut, announcing late today that it would have a $30mn pre-tax impact.

Ted Bunker, 30 March 2017
Zurich investors approve $12.7bn share issue plan

Zurich management won shareholder approval today to raise as much as CHF12.69bn ($12.69bn) in capital by selling new shares to provide more flexibility, including for seizing M&A opportunities or dealing with "times of stress".

Ted Bunker, 30 March 2017
Everest hires AIG exec McKeown to lead casualty unit

Everest Re has continued to build out its US insurance platform with the hire of

David Bull, 29 March 2017
Slice rolls out test of on-demand rideshare coverage

InsurTech start-up Slice has rolled out a test on-demand product designed for drivers who work with Uber, Lyft and other ride-share services.

Ted Bunker, 29 March 2017
Wells Fargo names Prichard insurance head as Schupbach moves

Wells Fargo has named Tim Prichard to lead its insurance business, replacing Laura Schupbach after she moved to its dealer services unit, The Insurance Insider can reveal.

David Bull, 29 March 2017
Citizens reports $27.1mn loss for 2016

Citizens Property Insurance Corporation will turn a $27.1mn net loss in 2016, its first annual loss since 2005.

Fiona Robertson, 29 March 2017

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