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Novae names Trueman as chief innovation officer

Novae has promoted Dan Trueman to the newly created role of chief innovation officer, the carrier announced today.

Charlie Thomas, 09 February 2017
Talbot establishes trio of terror facilities

Validus' Lloyd's operation Talbot Underwriting has launched three Lloyd's-led terror facilities in Singapore, Latin America and Dubai.

Matthew Neill, 09 February 2017
Zurich Global Corporate loss narrows in Q4

Zurich Global Corporate reported an operating loss of $38mn, though group profits rose 167 percent year-on-year.

Matthew Neill, 09 February 2017
Cincinnati beats despite lower cat-hit profits

Cincinnati Financial reported $125mn of operating income for the third quarter that was 31 percent down on the prior-year period but ahead of Wall Street expectations.

David Bull, 09 February 2017
Markel reports lower Q4 profit amid pricing pressure and Matthew loss

Markel reported a 24 percent drop in operating profit as prices declined across many of its product lines and catastrophe losses related to Hurricane Matthew added to the deterioration in its combined ratio during the fourth quarter.

Ted Bunker, 09 February 2017
Insurance pains push Aspen to $7.4mn loss

Costs associated with Aspen’s decision to reposition its insurance division had a “significant negative impact” on the Bermudian’s results for the fourth quarter, according to CEO Chris O’Kane.

Dan Ascher, 09 February 2017
Disgraced Ex-Enron CFO warns D&O insurers on fraud risk

Andrew Fastow, who helped to engineer one of America’s largest corporate frauds, warned a room full of directors' and officers' (D&O) insurers that executives can follow all the rules and still wind up on the wrong side of the law.

Dan Ascher, 09 February 2017
Cat losses punish Canada’s Intact Financial

Intact Financial, Canada’s biggest property and casualty carrier, reported pre-tax catastrophe losses of C$385mn ($293mn) for 2016, including summer storms and the Fort McMurray wildfires. Auto losses and weather-related claims also hit fourth-quarter results, which missed expectations.

Ted Bunker, 09 February 2017
Zurich pick BoA banker Bessant for board

Zurich has nominated Catherine Bessant, Bank of America's chief operations technology officer, to its board of directors, according to an 8 February statement by the insurer.

Bernard Goyder, 09 February 2017
Watsa’s African gambit draws less capital than planned

Fairfax Financial has come up $500mn short in its efforts to capitalise an Africa-focused investment fund by selling equity in the venture.

Ted Bunker, 09 February 2017

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