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UK Supreme Court allows AIG Europe appeal on PI claims

The UK Supreme Court on Wednesday (22 March) handed a partial victory to AIG Europe in a three-year-old court case involving investors in Moroccan and Turkish holiday developments who are pursuing claims under a defunct law firm's professional indemnity (PI) insurance.

Laura Board, 23 March 2017
Chubb’s ceded premium to ABR Re jumps 150%

Chubb lifted reinsurance premiums ceded to its captive reinsurer ABR Re by 150 percent to $288mn in 2016, according to its annual filing.

Lucy Jones, 23 March 2017
UK cyber insurance penetration just 14% among SMEs

Cyber insurance penetration among UK small and medium-sized enterprises (SMEs) remains low, with just 13.7 percent of companies taking up the product last year, according to a report.

Catrin Shi, 23 March 2017
German cedants up reinsurance buying: AM Best

Germany's biggest cedants increased the amount of reinsurance they bought in 2015, as insurers took advantage of cheap reinsurance prices to protect themselves from losses, according to AM Best.

Bernard Goyder, 23 March 2017
Trade bodies approve single claims agreement model

The development of a single claims agreement model for non-complex claims moved a step closer today after the London market's major trade bodies gave its creation the go-ahead.

Charlie Thomas, 23 March 2017
IGI walks away from SPA plans

International (re)insurer International General Insurance (IGI) has decided to postpone its plans to set up a Lloyd's special purpose arrangement (SPA) owing to the state of the market and timing issues.

Charlie Thomas, 23 March 2017
Former QBE Europe CEO Burns named Novae non-exec

London-listed carrier Novae has appointed Steven Burns as an independent non-executive director, effective from 31 March.

Charlie Thomas, 23 March 2017
Everest Re seeks $600mn from two cat bonds

Everest Re is hoping to raise $600mn from new two Kilimanjaro Re II cat bonds, sister publication Trading Risk reported yesterday.

Fiona Robertson, 23 March 2017
Opinion: AIG management

AIG management will have the opportunity later today to begin the challenging task of restoring their credibility with investors after a disastrous couple of months at the insurer.

David Bull, 23 March 2017
Strategy head Wartchow leaves Wells Fargo

Wells Fargo's head of insurance strategy and analytics Todd Wartchow has left the bank's retail broking arm, The Insurance Insider can reveal.

David Bull, 23 March 2017

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