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AIG exploring sale of $5bn legacy book

American International Group (AIG) has entered talks with a number of legacy companies about the disposal of a $5bn back-year P&C book as signs grow of a turning tide on its divestiture strategy, The Insurance Insider can reveal

Adam McNestrie, 16 May 2016
New $460mn Chinese reinsurer in pipeline

Listed Chinese construction firm Jiangsu Zhongnan Construction Group intends to launch a domestic reinsurer with a group of other partners, according to stock exchange filings

Fiona Robertson, 16 May 2016
Half of wildfire loss could go to reinsurers: S&P

At least half of all losses stemming from the wildfires that swept across Alberta a fortnight ago will impact the global reinsurance markets, according to Standard & Poor's (S&P)

Matthew Neill, 16 May 2016
Aetna exec takes CEO role at The Hanover

Eight months after long-serving president and CEO Frederick Eppinger announced his intention to step down, The Hanover has unveiled Joseph Zubretsky as its new president and CEO, effective from 20 June.

Charlie Thomas, 16 May 2016
Nelson calls for US government to exit flood insurance

Lloyd's chairman John Nelson has called on the US government to stop providing residential flood cover, the Financial Times reported yesterday (15 May)

Winifred Okocha, 16 May 2016
AM Best affirms PartnerRe after review

AM Best has affirmed PartnerRe's A financial strength rating and removed its status of under review with negative implications.

Matthew Neill, 16 May 2016
XL Catlin announces $1bn share buyback

XL Catlin has authorised a share buyback programme that allows it to repurchase up to $1bn of outstanding ordinary shares, the company announced today (13 May)

Matthew Neill, 13 May 2016
Intact notifies C$450mn-C$800mn wildfire loss

Canadian insurer Intact has notified its reinsurers that it expects ground-up losses of C$450mn-C$800mn ($350mn-$623mn) from the wildfires that have swept through Alberta, The Insurance Insider can reveal.

Adam McNestrie, 13 May 2016
Skuld profits steady on improved technical result

Skuld posted its best combined ratio for five years in 2015 at 95 percent, the Norwegian protection and indemnity (P&I) club announced today (13 May)

Matthew Neill, 13 May 2016
MPL profitability wanes on income drop

Profitability in medical professional liability (MPL) lines is beginning to fade, as net income fell almost 36.6 percent to around $1.1bn in 2015, according to AM Best.

Matthew Neill, 13 May 2016

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