The professional liability sector of the United States property and casualty insurance market will continue to be robust in 2017, with the competitive level for directors and officers (D&O) and errors and omissions (E&O) businesses specifically remaining heightened, A.M. Best…
The merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale…
New and emerging risks are putting corporate leaders under more pressure of falling foul of investigations, fines or prosecution over alleged wrongdoing, notes a new global report issued Monday by Allianz Global Corporate & Specialty (AGCS). “There is a growing…
Merger and acquisition (M&A) activity in the United States is expected to remain steady in 2017 compared to the deal levels of 2016, according to a recent survey by audit, tax and advisory firm KPMG LLP. Of the 94 respondents…
Mergers and acquisitions in the reinsurance sector sometimes involve carriers acquiring managing general agents, while in Canada, M&As have involved insurers trying to “beef up certain parts of their enterprise,” analysts from A.M. Best Company Inc. suggested at a recent…
Economical Insurance is expecting “significant growth” in its broker channel over the next five years, possibly 25% bigger than where it is today, outgoing president and CEO Karen Gavan said on Thursday during the 96th annual Insurance Brokers Association of…
Tina Osen, currently president of HUB TOS in British Columbia, will take on duties as HUB Canada’s new president. “Tina will champion our commitment to growing in Canada, where HUB’s roots are,” Marc Cohen, the recently appointed president of HUB…
Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating mergers and acquisitions (M&A) activity as healthier firms seek growth and efficiency savings, Fitch Ratings said on Monday. Consolidation in the sector has stalled after…
Twenty-four catastrophe bond transactions closed during the 12-month period to June 30, 2016, with a total limit of US$5.2 billion, a decrease on the prior-year period of US$7 billion, according to Aon Securities’ annual report on the insurance-linked securities sector.…
Fitch Ratings expects more defaults and mergers and acquisitions activity in both the short and medium terms for container shipping, but adds this “will only restore equilibrium and boost freight rates if they prompt capacity reduction.” The comments follow Korean…
Allianz Global Corporate & Specialty (AGCS) SE announced Wednesday its new transactional liability unit in North America. “This new practice will offer financial protection specifically to protect against inaccuracies made about target companies or businesses in connection with mergers, acquisitions…
Berkshire Hathaway Specialty Insurance (BHSI) announced on Tuesday that it has expanded into the transactional liability insurance market in Canada and the United States. BHSI also said in a press release that it has named Robert Underhill as senior vice…