Marsh & McLennan Companies, Inc., a global professional services firm offering clients advice and solutions in risk, strategy and people, today announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc, a leading provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved… Continue reading Marsh to Acquire Jardine Lloyd Thompson Group Plc for $5.6B
Tag: reinsurance
Hanover to Sell Specialty Unit Chaucer to China Reinsurance for $950 Million
Hanover Insurance Group Inc on Thursday decided to sell its unit that underwrites risks at insurance market Lloyd’s to China Reinsurance Group Corp for $950 million to focus on expanding its domestic business. Shares of Hanover rose as much as 5.32 percent, with the company saying that sale of the unit, Chaucer, would reduce… Continue reading Hanover to Sell Specialty Unit Chaucer to China Reinsurance for $950 Million
AIG CEO: Insurer Needs to Be a Disciplined Taker of Risk
AIG CEO Brian Duperreault spoke at the annual PwC briefing in Monte Carlo yesterday, saying that discipline needs to be at the heart of everything AIG does. Duperreault took the reins at AIG after the insurer had years of issues, leaving the seasoned CEO with a job to do. In his speech he discussed… Continue reading AIG CEO: Insurer Needs to Be a Disciplined Taker of Risk
AXA Completes Acquisition of XL Group
AXA today announced that it has completed the acquisition of XL Group Ltd, a leading global Property & Casualty commercial lines insurer and reinsurer with strong presence in North America, Lloyd’s, Europe, and Asia-Pacific. The completion of the transaction follows the fulfillment of customary closing conditions, including approval by XL Group shareholders and obtention of… Continue reading AXA Completes Acquisition of XL Group
East Coast Bracing for Massive Hurricane as More than 1 Million Face Mandatory Evacuation
Hurricane Florence has potential to cause “massive damage” to parts of the southeastern and mid-Atlantic United States — and not just in the coastal areas where the storm aims to make landfall Thursday night, officials warned. More than 1 million people face mandatory evacuation orders Tuesday in coastal areas of Virginia, North Carolina and… Continue reading East Coast Bracing for Massive Hurricane as More than 1 Million Face Mandatory Evacuation
Axa Receives Regulatory Greenlight for $15.3B XL Deal
Today is XL Group’s last day as an independent company as its new owner-to-be Axa received the final regulatory blessing to complete its $15.3bn acquisition of the NYSE-listed carrier. The acquisition – first announced in March – remains the totemic deal in 2018, a year that will be defined for M&A. It is also one… Continue reading Axa Receives Regulatory Greenlight for $15.3B XL Deal
Underlying Return on Equity Deteriorates at H1 2018: Willis Re Reinsurance Market Report
Shareholders’ equity in 34 reinsurance companies tracked in the Willis Reinsurance Index totalled $364.9 billion, a 1.6% decrease from $371 billion at year-end 2017. The decrease occurred despite an improvement in net income of nearly 75% to $14.5 billion, largely due to lower natural catastrophe losses which supported a reduced combined ratio of 94.3%, 0.7… Continue reading Underlying Return on Equity Deteriorates at H1 2018: Willis Re Reinsurance Market Report
TransRe Secures Exclusive Renewal Rights, Adds U.S. Treaty Team from Maiden Re
TransRe has acquired the exclusive renewal quotation rights to all of Maiden Re’s U.S. treaty customers from their diversified business (which does not include reinsurance assumed from AmTrust) and has hired the U.S. treaty team from Maiden Re. TransRe will immediately offer renewal quotations on this treaty book of business, which is focused on regional… Continue reading TransRe Secures Exclusive Renewal Rights, Adds U.S. Treaty Team from Maiden Re
ILS Investor Appetite Uninhibited by Recent Losses: Swiss Re
Global reinsurance giant Swiss Re has noted the continued and increased appetite of insurance-linked securities (ILS) investors to allocate capital to the sector, despite recent losses and potential ongoing loss development from 2017’s catastrophe events. The Switzerland-based reinsurer’s Capital Markets unit has released its H1 2018 ILS report, which, explores issuance in the first-half of… Continue reading ILS Investor Appetite Uninhibited by Recent Losses: Swiss Re