Ascot and Blackstone

UPDATE: Ascot nears sale as Blackstone closes in on deal following Goldmans exit

2022-08-19T19:38:00+01:00

Blackstone is in the late stages of finalising a deal to acquire Ascot from Canadian pension fund CPPIB, but Goldman Sachs is no longer part of the proposed transaction, The Insurer understands.

abrdn R&Q

Abrdn latest R&Q shareholder to come out in support of Spiegel

2022-08-19T12:45:00+01:00

Investment fund and asset manager Aberdeen Standard Investments (Abrdn) – which owns 6.2 percent of the outstanding shares of R&Q Insurance Holdings Ltd – has become the latest shareholder in the London-listed firm to back the legacy specialist and program manager’s executive chairman William Spiegel.

GC vs Howden

GC sues Howden defectors in NY after deposition attempt dismissed in Texas

2022-08-19T00:10:00+01:00

Guy Carpenter has filed a lawsuit in New York against five former members of its MGA-focused GC Access unit who quit to join rival Howden in April alleging they planned to “steal an entire business unit”, after a Texas judge twice threw out attempts by the Marsh McLennan subsidiary to ...

IM-ClearBlue-Obsidian-ScottPalladino

Clear Blue sues Palladino alleging trade secrets misappropriation before Obsidian move

2022-08-19T20:52:00+01:00

Clear Blue Insurance (CBI) is seeking a temporary restraining order (TRO) against former employee Scott Palladino after he allegedly “misappropriated trade secrets” and downloaded over 10,000 confidential documents containing key business strategy and terms ahead of his move to rival Obsidian.

Julia Chu – Liberty and Markel

Markel chief risk officer Julia Chu resigns to take up post at Liberty Mutual

2022-08-19T17:26:00+01:00

Markel’s chief risk officer and former chief global ceded reinsurance officer Julia Chu has resigned from the company to take up a new post at Liberty Mutual, The Insurer can reveal.

abrdn R&Q

Abrdn latest R&Q shareholder to come out in support of Spiegel

2022-08-19T12:45:00+01:00

Investment fund and asset manager Aberdeen Standard Investments (Abrdn) – which owns 6.2 percent of the outstanding shares of R&Q Insurance Holdings Ltd – has become the latest shareholder in the London-listed firm to back the legacy specialist and program manager’s executive chairman William Spiegel.

GC vs Howden

GC sues Howden defectors in NY after deposition attempt dismissed in Texas

2022-08-19T00:10:00+01:00

Guy Carpenter has filed a lawsuit in New York against five former members of its MGA-focused GC Access unit who quit to join rival Howden in April alleging they planned to “steal an entire business unit”, after a Texas judge twice threw out attempts by the Marsh McLennan subsidiary to ...

IM-ClearBlue-Obsidian-ScottPalladino

Clear Blue sues Palladino alleging trade secrets misappropriation before Obsidian move

2022-08-19T20:52:00+01:00

Clear Blue Insurance (CBI) is seeking a temporary restraining order (TRO) against former employee Scott Palladino after he allegedly “misappropriated trade secrets” and downloaded over 10,000 confidential documents containing key business strategy and terms ahead of his move to rival Obsidian.

Julia Chu – Liberty and Markel

Markel chief risk officer Julia Chu resigns to take up post at Liberty Mutual

2022-08-19T17:26:00+01:00

Markel’s chief risk officer and former chief global ceded reinsurance officer Julia Chu has resigned from the company to take up a new post at Liberty Mutual, The Insurer can reveal.


ReMonth_banner_2184-300


Viewpoint

More Viewpoint

Euro analysis

European Q2 results: winners and losers

With the release of Zurich’s results last Thursday, the Q2 earnings season for European (re)insurers has drawn to a close. The Insurer’s analytics team looks at the winners and losers, comparing reported figures against market expectations and also examining other health factors.

IM-Chart-US-Cars

Are US auto insurers on road to recovery after further pain in Q2?

Personal auto carriers in the US continue to suffer elevated losses, as evidenced by inflation-impacted second quarter results, but executives suggest that the rate increases that have been pushed through will restore the line to profitability.

Erik Matson Transverse MSI

MSI-Transverse deal sparks valuation frenzy in fronting space

Five years after Markel’s $919mn acquisition of State National at 16x 2018 earnings fuelled a surge in start-up activity in the fronting sector, those new entrants are now trying to grasp what Mitsui Sumitomo Insurance Co (MSI)’s surprise $400mn move to buy Transverse means for their own potential valuations.

Euro analysis

European Q2 results: winners and losers

With the release of Zurich’s results last Thursday, the Q2 earnings season for European (re)insurers has drawn to a close. The Insurer’s analytics team looks at the winners and losers, comparing reported figures against market expectations and also examining other health factors.

IM-Chart-US-Cars

Are US auto insurers on road to recovery after further pain in Q2?

Personal auto carriers in the US continue to suffer elevated losses, as evidenced by inflation-impacted second quarter results, but executives suggest that the rate increases that have been pushed through will restore the line to profitability.

Erik Matson Transverse MSI

MSI-Transverse deal sparks valuation frenzy in fronting space

Five years after Markel’s $919mn acquisition of State National at 16x 2018 earnings fuelled a surge in start-up activity in the fronting sector, those new entrants are now trying to grasp what Mitsui Sumitomo Insurance Co (MSI)’s surprise $400mn move to buy Transverse means for their own potential valuations.

Hurricane Andrew – 1992

Hurricane Andrew – the storm that prompted a new way of underwriting

Thirty years ago today, a storm formed which would have massive ramifications for the way the (re)insurance market operates today.

R&Q

R&Q: (some) shareholders strike again…

Ever since legacy acquisition company R&Q listed on London’s junior stock market AIM in 2007, founders Ken Randall and Alan Quilter would have faced questions about succession.

D&O party over

Pricing party over for US D&O writers

The general consensus is that average US public D&O pricing was down in the second quarter for the first time since 2017, amid greater competition and improved results, begging the question of whether carriers did enough to steer this line to profitability.

Hurricane Andrew – 1992

Hurricane Andrew – the storm that prompted a new way of underwriting

Thirty years ago today, a storm formed which would have massive ramifications for the way the (re)insurance market operates today.

R&Q

R&Q: (some) shareholders strike again…

Ever since legacy acquisition company R&Q listed on London’s junior stock market AIM in 2007, founders Ken Randall and Alan Quilter would have faced questions about succession.

D&O party over

Pricing party over for US D&O writers

The general consensus is that average US public D&O pricing was down in the second quarter for the first time since 2017, amid greater competition and improved results, begging the question of whether carriers did enough to steer this line to profitability.