Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., agreed to sell two-thirds of its U.K. annuity portfolio to Rothesay Life Ltd., helping to boost capital buffers under new regulations. Aegon will initially reinsure 6 billion pounds ($8.5 billion) …
Allianz Commercial* announced it has increased its capacity for excess of loss cover, which will now allow brokers to purchase excess liability cover up to £50 million ($70.5 million) per individual class of business. The move, which supports Allianz’s ambition …
THB, the London-based specialist insurance and reinsurance broker, announces it has secured an exclusive wholesale broking arrangement with Unicorn Underwriting for UK motor fleet business. Unicorn Underwriting recently received backing from Berkshire Hathaway International Insurance Ltd. and that new capacity …
If Britain votes to leave the European Union, the country’s shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn. …
The U.K.’s new joint industry and government sponsored reinsurance scheme for flood risk began operating today (April 4). Designed to help provide access to affordable flood insurance cover for households at the highest risk, Flood Re expects up to 350,000 …
A survey of London market insurers, brokers, and service providers revealed that 70 percent believe a U.K. exit from the European Union would hurt or severely damage Lloyd’s of London, according to Haggie Partners, a London-based public relations consultancy, which …
The Ontario Teachers’ Pension Plan, one of the biggest investors in British infrastructure, said it is assessing daily the risk that Britain will leave the European Union and is considering hedging the currency risk on its investments. Ontario Teachers’, Canada’s …
Charlotte, N.C.-based broker AmWINS Group Inc. announced the appointment of Darren Nightingale as chief executive officer of its London-based managing general agent, Unicorn Underwriting. Nightingale will be joined by Julian Cashen from Liberty Underwriting as class underwriter, motor fleet. Together …
Above a factory floor of machines carving metal to within a millionth of a meter, Stephen Cheetham is preparing his company for the unknown: a British exit from the European Union. Since the government announced a referendum on Britain’s future …
U.S.-based global insurance distributor AmWINS Group Inc. announced it has secured backing from AA+ rated Berkshire Hathaway International Insurance Ltd. for its London-based managing general agent (MGA), Unicorn Underwriting, to write motor fleet business. Unicorn will focus initially on specialist …
