Reinsurance

Yesterday, Transatlantic Holdings, Inc. and Allied World Assurance Company Holdings, AG announced a $3.2 billion merger deal that executives say will create a global specialty insurer and reinsurer operating in 18 countries on six continents.

International financial services and reinsurance brokerage firm, U.S. RE Companies, Inc., says it has joined with one of China’s leading brokers, Shanghai Transceed Insurance Brokers Co., Ltd.

On June 2, the Florida Commission on Hurricane Loss Projection Methodologies approved a new hurricane model from Risk Management Solutions. In an article written in March, just after the February model-release, Chief Research Officer Robert Muir-Wood offers a closer look at the model and the science behind it

The rising unrest throughout the Middle East and Africa, plus civil strife in parts of Europe and the continued threat of terrorism, mark this year’s Terrorism and Political Violence Map from insurance broker Aon.

Employment in the property and casualty insurance industry decreased 1.8 percent in April compared to the same month a year ago, according to an Insurance Information Institute analysis of the U.S. Labor Department’s Bureau of Labor Statistics data.

QBE says it has completed its acquisition of Balboa Insurance from Bank of America.