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Fosun wins $50mn ProSight legacy book contract

Fosun’s recently established US legacy operation has won a contract to manage the run-off book of up-for-sale specialty carrier Prosight, The Insurance Insider understands.

Adam McNestrie, 09 March 2017
XL Catlin expands builder cover for large projects

XL Catlin has quadrupled the capacity of its builders risk line to $1bn to provide “one-stop” cover to large construction projects in North America, the company said today.

Ted Bunker, 09 March 2017
Genworth investors favour $2.7bn China Oceanwide deal

Genworth Financial shareholders have approved Asia Pacific Re backer China Oceanwide's all-cash offer to buy the Richmond, Virginia insurer and run it as an independent subsidiary.

Ted Bunker, 09 March 2017
CNA faces paying $30mn in refunds

CNA will hand at least $30mn back to policyholders after overcharging them for premiums – and the carrier has warned that the figure will likely grow.

Dan Ascher, 09 March 2017
Napslo and AAMGA pick name for merged group

The proposed combination of the National Association of Professional Surplus Lines Offices (Napslo) and American Association of Managing General Agents (AAMGA) would be named the Wholesale & Specialty Insurance Association (WSIA), the two US industry trade bodies have decided.

David Bull, 09 March 2017
February weather losses top $1bn: Aon Benfield

Severe weather events last month will likely cost insurers more than $1bn, according to Aon Benfield's Impact Forecasting unit

Ted Bunker, 08 March 2017
Skip Cooper becomes AmWins vice chairman

Skip Cooper, the president of wholesale broking giant AmWins, has joined the company's board as vice chairman, the firm said today.

Bernard Goyder, 08 March 2017
AIG gives Luxembourg fillip in Brexit beauty parade

AIG's choice of Luxembourg as the location for a new EU subsidiary after Brexit is a major win for the Benelux country

Bernard Goyder, 08 March 2017
Hammond ignores pleas for IPT reprieve

UK Chancellor of the Exchequer Philip Hammond has ignored insurers' calls to rethink a pending insurance premium tax (IPT) rise and laid down measures to ensure carriers can't bypass the higher rate by paying the levy early.

Laura Board, 08 March 2017
AIG picks Luxembourg for EU subsidiary

AIG has revealed plans to set up an insurance company in Luxembourg to write EU business once the UK leaves the trade bloc.

Bernard Goyder, 08 March 2017

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