News

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ACE underwriting income up 110 percent in 2013

ACE Group has released strong annual results, reporting a P&C combined ratio of 88 percent and underwriting income of $1.8 billion, up over 110 percent from 2012.   29 January 2014

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ABIR: IAIS standards must take account of existing investment

ABIR extends its support to the IAIS’s international solvency capital standards, but cautions that it must build on existing regulatory investment and reflect the capital needs of the P&C sector.   29 January 2014

News

ACE bolsters international terrorism team

ACE Group appoints Stuart Elliot as terrorism and political violence underwriter as the company continues to invest in specialist insurance capabilities.   28 January 2014

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Terrorism most likely at your local mall

The latest Terrorism and Political Violence Map released by Aon has found that the retail and transport sectors face the highest risk of attack, accounting for a little over half of global attacks.   28 January 2014

ILS

Data must come first as cat bonds reach for new geographies

Catastrophe bonds could be useful tools in developing markets, EY partner Craig Redcliffe tells Bermuda:Re, but reliable data and accurate models must be developed first.   28 January 2014

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XL extends operational risk coverage to financial institutions

XL Group offers operational risk insurance to its financial institutions clients through its newly created operational risk team.   27 January 2014

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Kane cat bond platform launches onto BSX

Kane has completed its second $50 million transaction on its independent private cat bond platform, Kane SAC, with the series listed on the BSX.   27 January 2014

ILS

Speed to market and burgeoning ILS attracts Phoenix CRe

The strengths of the Bermuda market attracted Phoenix CRetro to the Island, with speed to market and its fast-growing ILS market proving decisive factors.   27 January 2014

News

XL highlights Shared Value at Davos

XL Group’s CEO Mike McGavick has called for integration of societal needs into business models in a talk at the World Economic Forum (WEF).   24 January 2014

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Universal application of contract wording will prove costly

In their drive to develop business in diverse geographies, re/insurers may be unwittingly exposing themselves to legal challenges relating to contract wordings and clauses developed for one system of law and/or jurisdiction that may not be understood or even recognised in other jurisdictions.   24 January 2014

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