Britain’s government is ready to push for the kind of Brexit plan for financial services that the City of London has long favored, but which has already run into opposition in Brussels, two government officials said on Friday. London is …
The U.K.’s exit from the European Union will be a watershed moment for the City of London and weaken its role as one of the world’s leading financial centers, Bundesbank Executive Board member Joachim Wuermeling said on Thursday. Speaking in …
Independent Lloyd’s broker AFL Insurance Brokers Ltd. hired re/insurance professionals Barry Rowland and Chris Cavani to augment its wholesale property team. Formerly a facilities and binder partner at JLT Re, Rowland joins AFL as director, Property & Casualty. Cavani joins …
London-based Brit Ltd. has renewed and expanded the collateralized reinsurance capacity provided by its Bermuda domiciled sidecar, Versutus Ltd., in support of Brit’s property catastrophe portfolio for 2018. Marking the fourth annual renewal and continued expansion of this vehicle, Versutus …
A wholly owned subsidiary of Prudential Financial Inc. (PFI) has signed definitive agreements to purchase a 13.1 percent stake in Peak Reinsurance Holdings Ltd., the sole shareholder of Hong Kong-based Peak Reinsurance Co. Ltd. Prior to the transaction, Fosun International …
European gas trading platform Pegas said it is developing temperature products, which if approved could go live next year and help energy operators hedge weather risks. “A final plan will be presented to the exchange’s top management in the third …
XL Group Ltd., the insurer with about $38 billion of investments, is reducing its exposure to hedge funds, Chief Executive Officer Mike McGavick said. “We still do see some value there, but at this time we’ve seen it advantageous to …
They may not have the cachet of entrepreneurs, or geek chic of developers, but data protection officers are suddenly the hottest properties in technology. When Jen Brown got her first certification for information privacy in 2006, few companies were looking …
Allianz Group has successfully increased its stake in the leading credit insurer Euler Hermes to 92.43 percent. In November, Allianz first announced it intended to increase its 63 percent shareholding in Euler Hermes by buying out minority shareholders. Since then, …
Pool Re, the UK terrorism reinsurer, announced the launch of the Vulnerability Self-Assessment Tool (VSAT). Aimed at medium and large businesses, this tool will enable Pool Re member insurers to offer a 5 percent premium discount to insureds which “implement …
