Neon announced it has launched the first ILS vehicle in the UK, NCM Re (UK PCC) Ltd., and raised third party capital to support the UK’s first ILS transaction. NCM Re is the first UK-domiciled protected cell company, which utilizes …
Global property reinsurance prices have risen less than expected in the key Jan. 1 renewal season, with strong competition limiting increases to single digit percentages following a record year of losses, brokers said on Tuesday. Catastrophe bond managers are launching …
Insurance brokerage and consultant Aon has completed its acquisition of The Townsend Group, a global investment management and advisory services firm primarily focused on real estate and real assets. Aon reported in September that it had agreed to acquire Townsend …
Brussels-based insurer Ageas on Dec. 29 completed the sale of its stake in Italian bancassurer Cargeas Assicurazioni (CARGEAS) to BNP Paribas Cardif, for €178 million (US$213.6 million) in cash. Ageas and BNP Paribas Cardif have operated CARGEAS as a joint …
Randall & Quilter (R&Q) announced it has acquired Constantia Insurance Co. (Guernsey) Ltd., a captive company now in run-off, from Old Mutual plc. Regulatory approval for the acquisition has been granted and Constantia will be amalgamated into Capstan Insurance Company …
Swiss consumer protection organization SKS has filed a claim on behalf of some 6,000 car owners seeking damages from Volkswagen AG and Swiss car dealer AMAG related to the “Dieselgate” emissions scandal. The claim has been lodged with the Zurich …
Fairfax Financial Holdings said it has successfully sold a Singapore insurer to Japan’s Mitsui Sumitomo Insurance Co. for US$1.6 billion.The deal between the Toronto, Canada-based P/C insurance, reinsurance and investment management holding company, and Mitsui Sumitomo involves the sale of …
Blockchain, cyber, mergers and acquisitions and London’s devastating Grenfell Tower fire are just some of the topics that dominate the most popular articles in Insurance Journal’s International section during 2017. Here we provide an overview of 12 of the top …
Allianz Group announced it has acquired a 49 percent stake in Liverpool Victoria Friendly Society’s UK general insurance businesses, the first stage in the creation of the companies’ joint venture and strategic partnership. The venture creates a general insurance business …
QBE Insurance Group Ltd. has agreed to pay A$132.5 million (US$103.2 million) to settle a shareholder class action in Australia. The class action was commenced by Money Max Interest Pty Ltd on Sept. 9, 2015 in the Federal Court of …
