Latest Regional Headlines

The following news stories feature information regarding the Europe, Middle East & Africa marketplace.

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AM Best Affirms Credit Ratings of Navigators International Insurance Company Ltd. : AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Navigators International Insurance Company Ltd. (NIIC) (United Kingdom). The outlook of these Credit Rating...
Date: September 13, 2019
Flood Re Welcomes Government Investment in Local Defenses : Residential mutual flood reinsurer Flood Re Ltd. welcomed the announcement of the U.K. government that it will spend £2.9 million (US$3.25 million) on local flood defenses in England. The money is being made available by th...
Date: September 13, 2019
Tokio Marine Kiln Names Chief Executive Officer : Tokio Marine Kiln has named Brad Irick to succeed Charles Franks as chief executive officer. Irick will transition into his new position on Jan. 1, 2020, subject to regulatory approval. He succeeds Franks, who has been CEO ...
Date: September 13, 2019
Chubb Bermuda Names Senior Vice President-General Counsel : Chubb Bermuda has named James Paugh as senior vice president, general counsel of Chubb Bermuda Insurance Ltd., effective Sept. 1. Paugh will direct all legal and regulatory activities within Chubb Bermuda and Chubb Bermuda ...
Date: September 13, 2019
AM Best Assigns Issue Credit Rating to Prudential Financial, Inc.’s New Senior Unsecured Notes : AM Best has assigned a Long-Term Issue Credit Rating of “a-” to the newly issued senior unsecured notes of Prudential Financial, Inc. (PFI) (Newark, NJ) [NYSE: PRU]. The $1.5 billion 3.70% notes due March 13, 2051 were issued...
Date: September 13, 2019
Axa XL Names Chief Underwriting Officer for UK Entities : Axa XL has named Luis Prato as chief underwriting officer for U.K. legal entities: Catlin Underwriting Agencies Ltd. and XL Catlin Insurance Co. UK Ltd., subject to regulatory approvals. Prato will transition into his new p...
Date: September 12, 2019
Lawmakers Push Regulators to Reject ‘Flawed’ Global Capital Insurance Standard : When international regulators meet in November to adopt a new global insurance capital standard, lawmakers urged the U.S. contingent to reject the ICS if it doesn’t include changes that support the way carriers are regulated ...
Date: September 12, 2019
In Move to ‘Deliver Seamless Access,’ Hyperion to Combine Two Units : In a move designed to “deliver seamless access” to clients, Hyperion Insurance Group said it will combine Howden and RKH, its retail and specialist broking operations, under a single management. “This merger provides the b...
Date: September 12, 2019
AM Best Affirms Credit Ratings of Ardellis Insurance Ltd. : AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Ardellis Insurance Ltd. (Ardellis) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. T...
Date: September 12, 2019
AM Best Affirms Credit Ratings of Operating Subsidiaries of Essent Group Ltd. : AM Best has affirmed the Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” of the operating subsidiaries of Essent Group Ltd., which are Essent Guaranty, Inc., Essent Guaranty of PA, Inc. ...
Date: September 12, 2019
AM BestTV at Rendez-Vous: Reinsurers Optimistic and Evolving, Say AM Best Directors : In this AMBestTV episode from the 2019 Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo, Monaco, Senior Director Carlos Wong-Fupuy, Managing Director, Analytics – EMEA, Greg Carter, and Senior Director Bob...
Date: September 12, 2019
RSA UK & International Merges Two Units Into Single Commercial Business : In a move toward what it described as unity and simplicity, RSA UK & International has created a single commercial lines business unit through the merger of its commercial risk and global risk entities. The new operation, k...
Date: September 12, 2019
Indian Regulator Warns Reliance Nippon Life on Excessive Management Expenses : The Insurance Regulatory and Development Authority of India has warned Reliance Nippon Life Insurance Co. Ltd. for excessive management spending, saying the violation might impact its policyholders. A copy of the regulator’...
Date: September 12, 2019
BMS Appoints Director in Global Risks Division : BMS Group has named Neil Prior as director in the global risks division. Prior will transition into his new role on Sept. 16 and will report to Ian Gormley, managing director at BMS. Prior has over 33 years of broking, u...
Date: September 12, 2019
Aegon Names Chief Executive Officer of Aegon UK : Aegon has named Mike Holliday-Williams to succeed Adrian Grace as chief executive officer of Aegon U.K. and a member of the management board, subject to regulatory approvals. Holliday-Williams will join the company on Oct....
Date: September 12, 2019
AM Best Assigns Credit Ratings to Premier Insurance Company Limited : AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” to Premier Insurance Company Limited (Gibraltar). The outlook assigned to these Credit Ratings (ratings) is stable. ...
Date: September 12, 2019
UK Bank Lloyds Raises PPI Claims Estimate to as High as £1.8 Billion : Lloyds Banking Group plc has increased the estimate of its exposure to the mis-selling of payment protection insurance to between £1.2 billion (US$1.48 billion) to £1.8 billion. This amount is in addition to the provisions to...
Date: September 11, 2019
AM BestTV at Rendez-Vous: ‘A Very Different Market Now,’ Say (Re)Insurance Industry Professionals : In this AMBestTV episode from the 2019 Les Rendez-Vous de Septembre (Rendez-Vous) conference in Monte Carlo, Monaco, reinsurers and related professionals say the reinsurance market is evolving as companies follow a broader, m...
Date: September 11, 2019
UK Insurance Sector Weighs Uncertainties in ‘Do or Die’ Brexit : As the United Kingdom moves toward Oct. 31, designated by Conservative Prime Minister Boris Johnson as the “do or die” Brexit day, the United Kingdom’s insurance sector continues to weigh the uncertainties. Johnson has prom...
Date: September 11, 2019
Update: Notre Dame Fire Points to Complexity of Risk Management of Heritage Properties : (Corrects attribution in the 10th paragraph.) The devastating fire that destroyed much of Notre Dame Cathedral in Paris has raised attention for risk management of cultural heritage properties, which all have unique structure...
Date: September 11, 2019

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