Re/insurance broker Aon has estimated that the re/insurance industry will incur USD 90 billion of catastrophe losses in 2018, or around 40% of the total USD 225 billion economic cost, according to Weather, Climate & Catastrophe Insight: 2018 Annual Report
Swiss Re announced it appointed Archie KANE as the new non-executive Chairman of the Board of Directors of its UK-based closed book business ReAssure effective immediately.
AXA XL announced that it has completed the transfer of its EU insurer - XL Insurance Company SE, from the UK to Dublin, Ireland.
Corporate insurer Allianz Global Corporate & Specialty SE (AGCS) targets growth in Asia with new India reinsurance branch.
Generali has launched on 21 January a subordinated bond with a 10 years bullet format targeting institutional investors for an overall amount of EUR 500 million. At the initial yield guidance of 4.625%, the issuance attracted around 450 orders for more than EUR 6.5 billion, more than 13 times the target size.
The Board of Directors of American International Group elected Thomas Firouz MOTAMED as a Director, effective immediately.
German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.
Marsh & McLennan Companies (MMC) announced key leadership changes appointing new MERCER CEO and MMC Vice Chairman "to further its growth strategy".
Guy Carpenter & Company, LLC, a wholly owned subsidiary of Marsh & McLennan Companies, announced the formation of a new Global Capital Solutions Group and a series of new leadership appointments related to the Jardine Lloyd Thompson Group plc (JLT) acquisition.
In the wake of mega data breaches and privacy scandals, major IT outages and the introduction of tighter data protection rules in the European Union and other countries, cyber risk is now a core concern for businesses in 2019 and beyond.
Austrian Vienna Insurance Group (VIG) announced its Czech companies Pojistovna Ceske sporitelny (PCS) and Kooperativa merged with effect from 1 January 2019.
Global re/insurer MS Amlin announced that its Chief Financial Officer - John WORTH will be stepping down from his role to join HASTINGS Group plc as CFO.
Lloyd's of London announced that Albert BENCHIMOL and Victoria CARTER have been appointed respectively External member and Working member of the Lloyd's Council with effect from 1 February 2019. Michael WATSON, currently on the council, has been re-elected as External member.