Swiss Re
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The carrier will continue to write hull business in Europe from its Genoa office. -
The pullback is one of several lines to be trimmed as the carrier cuts $900mn of premiums from its portfolio.
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The Allianz CFO says a portfolio review could lead to shrinkage at the big-ticket specialty unit.
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Swiss Re’s medmal exit comes after ProAssurance’s warning last quarter of companies being “swept away by the tide”.
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The underperforming division is working to reduce annual gross premiums written by $900mn.
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General aviation and space are the latest sectors to be targeted in the division’s overhaul.
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The executive will head up the unit following Angelo Colombo’s departure to Swiss Re.
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The firm cuts its earnings forecasts for parent Swiss Re.
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Cameroon’s Sonara refinery and Algeria’s Arzew production plant have both been hit by fires in the past month.
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Katie McGrath will from next month replace Mike Kemp, who will be retiring this year.
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Recently arrived corporate solutions chief Andreas Berger is reviewing the primary commercial arm of the Swiss reinsurer.
