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XL Catlin restructures Southern European operations

XL Catlin has reorganised its Southern European operations to align France alongside Italy and Iberia, the insurer announced

Matthew Neill, 17 March 2016
The Hartford to buy E&S carrier Maxum for $170mn

The Hartford has agreed a deal to buy excess and surplus lines (E&S) carrier Maxum Specialty Insurance Group for $170mn in cash.

David Bull, 17 March 2016
UK budget includes ILS tax law commitment

The UK government has formally outlined plans to legislate the tax treatment of insurance-linked securities (ILS) vehicles by including the proposal as a commitment in its annual budget proposals

16 March 2016
Brexit would be ‘disaster’ for Europe and Britain: Kessler

Scor CEO Denis Kessler has warned that a UK exit from the European Union (EU) would be "a disaster" for (re)insurers in both London and Europe.

Matthew Neill, 16 March 2016
UK IPT to rise to 10%

Insurance premium tax (IPT) will increase by 0.5 percent to 10 percent, Chancellor of the Exchequer George Osborne announced in the UK budget statement today (16 March)

Winifred Okocha, 16 March 2016
London ‘open for business from Brazil’

The London market is actively seeking to raise its profile in Latin America, International Underwriting Association (IUA) CEO Dave Matcham will say today (16 March)

Winifred Okocha, 16 March 2016
Biba to launch UK SME flood scheme

The British Insurance Brokers' Association (Biba) is in talks with carriers to launch a flood insurance initiative for UK businesses and property owners later this year.

Winifred Okocha, 16 March 2016
Hyperion FP Marine Risks CEO steps down

Philip Bilney is to step down as CEO of Hyperion-owned Asian marine insurance broker FP Marine Risks (FP) and will be replaced by Richard Walker, the company announced today (16 March)

Matthew Neill, 16 March 2016
AJG acquires Midwest retail broker BCW

Global broker Arthur J Gallagher (AJG) has acquired US retail insurance broker Bomford, Couch & Wilson Inc (BCW), the company announced today (16 March).

Matthew Neill, 16 March 2016
Munich Re 2016 profit target falls

Munich Re today (16 March) announced a profit target of EUR2.3bn to EUR2.8bn ($2.6bn to $3.1bn) for 2016, down from guidance of EUR2.5bn to EUR3bn a year earlier and the consensus estimate of EUR2.7bn

Catrin Shi, 16 March 2016

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