Insurance news

• MetLife and FSOC close door on Sifi appeal

  20-01-2018 02:34
  MetLife and the US Financial Stability Oversight Council
  formally sought to end the big life insurer's status as a
  systemically important financial institution yesterday, which would
  leave New Jersey's Prudential Financial as the last insurer
  under Federal Reserve oversight as a Sifi.
  In a joint motion, MetLife and the council asked a federal
  appeals court to dismiss a move to reverse a district court's
  ruling that removed MetLife from Fed oversight in 2016. The Obama
  Justice Department had appe
  
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• UK broker probe fallout will be manageable: JP Morgan

  20-01-2018 00:20
  Views of the effect on Aon, Willis Towers Watson and Marsh &
  McLennan of probes into broker compensation shifted as the week
  wore on, with JP Morgan analyst Sarah DeWitt saying today that
  investor "concerns are overblown" and that any potential
  fallout will be manageable.
  The UK Financial Conduct Authority (FCA) and the European
  Commission (EU) are investigating the facilities and aviation
  brokerage businesses, which DeWitt estimates account for just 1
  percent to 2 percent of total revenue f
  
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• Ardonagh will get up to £30mn in Broker Network sale

  20-01-2018 00:20
  Ardonagh has sold its remaining stake in the Broker Network to
  Nevada Investment Holdings 2, whose directors include Matthew
  Raino, an executive of a Chicago-based private equity firm that
  backed the formation of the selling group last year.
  The transaction sent a 19.9 percent interest in the Broker
  Network to London-based Nevada Investment for as much as £30mn
  ($41.7mn), according to a regulatory filing in the UK. The final
  price will depend in part on subsequent business performance.
  "Fo
  
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• Aon Risk Solutions' Beslity to retire

  20-01-2018 00:20
  Steve Beslity will retire in the middle this year from his post
  as chairman of global marine at Aon Risk Solutions, the unit's
  parent said today.
  It was not immediately known if a successor would be named, an
  Aon spokeswoman said.
  Beslity, who was Aon's chief broking officer for marine
  risks before being made chairman of the segment in 2015, told The
  Insurance Insider at the time that his promotion marked an
  increased focus on specialty lines by the London-based...
  
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