News – Page 179
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News AgendaRedomiciling to Cayman - Barents Re
In July 2018, Barents Re announced the redomicile of the company to the Cayman Islands. Gerardo García, president and CEO, explains the objectives and benefits of the move
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News AgendaBest downgrades Arig for fraud
Rating agency acts after fraud discovered at Arab Insurance Group (Arig)
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News AgendaQBE’s Neal to lead Lloyd’s after Beale’s exit
John Neal is reportedly taking over from Inga Beale as chief executive of Lloyd’s
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News AgendaAon finds $350m reinsurance capacity to fight silent cyber
Aon has gathered Bermuda, London and European reinsurers to provide capacity for insurers’ so-called “silent cyber” risk – liability coverage exposed to cyber-attacks
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News AgendaThese are the 10 insurtechs included in Lloyd’s Lab
The Lloyd’s Lab “innovation accelerator” features ten insurtech firms in its initial cohort
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Online onlyScor rebuffs €8.2bn Covéa takeover bid
Scor said its board, led by CEO Denis Kessler (pictured) had “unanimously” rejected the bid
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Online onlyMoody’s stands by “strong and stable” outlook
Only a huge unmodelled catastrophe or a series of such model misses can halt alternative capital, Moody’s warned
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News AgendaMaiden sell off: TransRe takes US treaty team; Enstar buys legacy book
Bermuda reinsurer Maiden sells its US treaty team and renewals rights, has its ratings under review, and is reportedly mulling a billion-dollar legacy deal
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News AgendaO’Kane to stay at Aspen after $2.6bn Apollo takeover
Storm-hit Aspen has been acquired by private equity fund Apollo at 1.1x book value
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News AgendaHartford to buy Navigators for $2.1bn
The Hartford’s cash deal to buy rival Navigators is expected to close in the first half of 2019
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Online onlyHenchoz to replace Hannover Re’s Wallin
Jean-Jacques Henchoz quits Swiss Re to lead rival reinsurer Hannover Re, taking over from retiring chief executive Ulrich Wallin
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Online onlyJapan floods deadliest cat since Tohoku - AIR
Flooding in western Japan could cost $4bn of insured losses, according to catastrophe modeller AIR Worldwide
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News AgendaRise in cyber-attacks on cloud email services
The transition towards cloud services could leave companies more open to cyber-attack, compounding aggregation risks for reinsurers
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News AgendaCat bond issuance reaches $4bn in robust Q2 – Aon
A slew of new cat bond issues meant overall ILS in play increased to $30bn at June 30, despite a record amount of cat bonds maturing in the second quarter
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News AgendaCat losses down 50% in 2018 – Swiss Re
Global insured losses from disasters were $20bn at the half year stage of 2018, according to Swiss Re, two-thirds of the total at the same point last year
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AIR AIG finalises $5.5bn Validus acquisition
The $5.56bn transaction was first announced in January
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AIRAdvent and Brit to merge Lloyd's business
Advent and Brit will merge parts of their businesses in response to the challenging marketplace
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AIRAXA and XL announce first joint branding operation
The new group, called AXA XL combines XL Group operations, AXA Corporate Solutions and AXA Art
