Totten Insurance Group, the Toronto-based managing general agency, announced that it has acquired the shares of Canadian Resources Insurance Solutions Inc. (CRIS), a Sudbury, Ontario-based insurance wholesaler. Terms of the acquisition were not disclosed. This strategic acquisition expands Totten’s footprint …
It was a case of adapt and thrive when modeling and analytics company Sciemus made a big strategic leap this year into underwriting space, power, mining, renewable energy and cyber—as a managing general agent. Despite the ongoing soft market, CEO …
Mutual insurance companies have gained back some of the global market share they lost due to demutualizations in recent years. Those gains are threatened, however, by new financial regulations, changes in corporate governance and new technology, Swiss Re said in …
The China Insurance Regulatory Commission (CIRC) has asked insurers to thoroughly assess business risks and strengthen their risk controls, the online financial magazine Caixin reported Wednesday, citing anonymous industry sources. China’s insurers have rapidly moved into risky investments in recent …
AXA SA, France’s biggest insurer, said first-half profit rose 4 percent as increased earnings from life and health insurance helped offset higher claims from natural catastrophes. Net income climbed to 3.2 billion euros ($3.6 billion) from 3.1 billion euros a …
Tropical Storm Earl, forecast to grow into a hurricane, may just graze Mexico’s oil-rich Bay of Campeche as it heads west toward the Honduras Bay Islands before making landfall in Belize within the next 24 hours. Earl was 265 miles …
ANV Global Services Ltd, the international managing general underwriter (MGU) of global specialty insurance group ANV, has today announced an increase in its Lloyd’s underwriting capacity for mergers and acquisitions insurance. The line will now offer a limit of €40 …
Greenlight Capital Re Ltd., the reinsurer that counts on hedge fund manager David Einhorn to oversee investments, posted its fifth loss in six quarters as the portfolio slumped. The second-quarter net loss widened to $63 million, or $1.69 a share, …
London-based Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Kadidja Sinz to the new role of head of Europe. Sinz will be responsible for leading and directing the specialty and commercial insurance business in Continental Europe. …
Arthur J. Gallagher & Co. announced the acquisition of Orb Financial Services Ltd. in Surrey, England. Terms of the transaction were not disclosed. Founded in 2007, Orb Financial Services is an employee benefits consultant and broker offering a full range …
