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PRA working on improved large loss preparedness

UK (re)insurers will be expected to provide a realistic recovery plan to the Prudential Regulation Authority (PRA) in preparation for a market-turning event, Chris Moulder, the regulator's director of general insurance, has said

Catrin Shi, 29 September 2016
Argo hires Hernandez as international business chief

Bermudian carrier Argo Group has appointed AIG's Jose Hernandez as head of its international businesses, the company announced today.

Adam McNestrie, 29 September 2016
Greenberg takes to stand in fraud trial

Former AIG chairman and CEO Hank Greenberg has said he was "trying to teach a lesson" to managers when he refused to take out reinsurance for the carrier's underperforming auto warranty book in the early 2000s.

Catrin Shi, 28 September 2016
Florida regulator approves 14.5% workers’ comp hike

The Florida Office of Insurance Regulation has granted contingent approval to an average state-wide increase of 14.5 percent for workers' compensation policies

Matthew Neill, 28 September 2016
AIG-Hamilton-Two Sigma JV to begin with BOP cover

AIG, Hamilton and Two Sigma's insurance platform for small to medium-sized enterprises (SMEs) has been named Attune and will begin by offering business owner's policy (BOP) coverage in the coming months

David Bull, 28 September 2016
R&Q strikes legacy solicitors’ reinsurance deal

Legacy specialist Randall and Quilter (R&Q) has agreed a loss portfolio transfer reinsurance deal with the UK-based Solicitors Indemnity Mutual Insurance Association (SIMIA).

Matthew Neill, 28 September 2016
FCA keeping ‘watchful eye’ on firms’ culture

Andrew Bailey, chief executive of the UK Financial Conduct Authority, has warned the regulator is keeping a "watchful eye" on financial services companies as rules that govern culture start to bed down

Matthew Neill, 28 September 2016
CIRC processing 25 local reinsurer applications: reports

Around 25 local companies have applied for a reinsurance licence to trade in China, according to local media reports

Matthew Neill, 28 September 2016
Willis appoints North American property head

Willis Towers Watson has hired Gary Marchitello as its new head of property broking for North America, the company said yesterday (27 September)

Matthew Neill, 28 September 2016
Aon unveils cyber cover to include property, BI and CBI risks

Aon has launched an enterprise-wide cyber product that can provide a broad range of coverage in a single policy offering up to $400mn in capacity.

David Bull, 28 September 2016

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