Latest news
-
NewsRLI reveals strong Q4 rate increase momentum
US specialty insurer RLI saw rate increases of 30 percent on its professional liability book for the second consecutive quarter along with double digits commercial auto increases and solid single digit momentum in other lines.
-
News
Investors send insurance stocks down on tort fears
Shares in Travelers closed down 5 percent in New York with a number of other P C stocks also showing up red as investors reacted negatively to news of continued tort challenges despite an in-line quarter from the US insurance giant.
-
News
Lloyd’s to pilot 2020 ILS trade and may review three-year accounting
Lloyd’s has committed to executing at least one ILS transaction next year under its soon-to-be-developed capital solutions platform and may review the market’s three-year accounting cycle to enable investors to exit their investments earlier, CEO John Neal confirmed today in his widely-anticipated Blueprint One paper.
-
News
Munich Re to launch Lloyd’s first ‘Syndicate-in-a-Box’ with another live by 1.1
Munich Re will be the first carrier to launch a ‘Syndicate-in-a-Box’ at Lloyd’s, a cornerstone initiative of the Corporation’s ‘The Future at Lloyd’s’ blueprint that has been launched today, with a second also to be live by 1.1.2020.
-
News
Neal: Future at Lloyd’s to cost “hundreds of millions not billions”
Lloyd’s CEO John Neal has promised the costs of his bold transformation programme will be “manageable” as he unveiled the widely-anticipated 147-page Blueprint One document that provides the first steps towards an advanced digital, data-led (re)insurance marketplace.
-
News
Helvetia snaps up 70% of Spain’s Caser for Eur780mn
Swiss specialty carrier Helvetia has acquired a 70 percent stake in Spanish insurer Caser for Eur780mn ($861mn).
-
News
Meek’s Homesite enters strategic partnership with K2
K2 Insurance Services subsidiary Aegis General Insurance Agency has signed up to a strategic partnership with the recently launched program business unit of Homesite Insurance Group (HIG) led by former Allied World executive Grace Meek.
-
News
Acrisure revenues expected to top $2bn this year
Fast-growing broker consolidator Acrisure is expected to exceed total revenue of $2bn for full-year 2020, according to S P Global Ratings.
-
News
Integrand’s reinsurers hit back at attempt to stall arbitration
Reinsurers including Swiss Re, XL, Everest Re and Odyssey Re have moved to compel arbitration with Integrand over hurricane losses, after the Puerto Rico insurer’s liquidator tried to get a court to reconsider its order dismissing a lawsuit between the parties.
-
News
Travelers getting more aggressive on tort claims: Schnitzer
Takeaways from Travelers’ earnings call include the insurer getting more aggressive towards the plaintiffs bar on claims, reviver statutes leading to further reserve increases and the cat aggregate XoL reinsurance treaty retention being surpassed in the fourth quarter.
-
News
Denali Specialty hires Senger to head delegated authorities unit
Start-up MGA and wholesale brokerage platform Denali Specialty Group has hired former Breckenridge Insurance Services executive Kerri Senger as president of its delegated authorities practice, The Insurer can reveal.
-
News
FCA warns market to be ready for no-deal Brexit
Britain’s financial firms – including all UK-regulated (re)insurers – must continue to prepare for a no-deal Brexit in case the United Kingdom and European Union fail to reach a favorable trade agreement by December, the Financial Conduct Authority (FCA) warned on Thursday.
-
News
Barclays analyst Gelb takes McKinsey role
Jay Gelb, who has been an insurance equity analyst at Barclays since 2008, is to join McKinsey Company as a senior advisor in April.
-
News
Lovell Minnick completes Charles Taylor acquisition
Insurance services specialist Charles Taylor’s £261mn ($326mn) takeover by private equity house Lovell Minnick has completed.
-
News
Travelers buys less agg limit and raises retention at renewal
Travelers placed only 56 percent of its $500mn underlying aggregate catastrophe excess-of-loss reinsurance cover and increased the attachment point from $1.3bn to $1.55bn at the 1 January renewal after recovering on last year’s treaty in the fourth quarter.
-
News
Chubb pet insurers commanded to repay $4.7mn for overcharging
Two Chubb subsidiaries are in the doghouse with Washington state’s insurance department, which has ordered them to repay $4.7mn to policyholders.
-
News
Insured cat losses fall 34% to $53bn in 2019: Willis Re
Insured damages from major natural catastrophes in 2019 totalled $53bn, 34 percent lower than the $80.5bn loss figure recorded a year earlier, according to the latest catastrophe report from Willis Re.
-
News
Travelers stabilizes with in-line earnings on lower Q4 cat losses
US insurance giant Travelers reported core earnings per share of $3.32 that were just ahead of the $3.29 consensus forecast on Wall Street, as it revealed premium price increases in its domestic business insurance unit of 7.8 percent, the highest since 2013.
-
News
Australia hailstorm losses swell to $353mn: ICA
Insurers reporting into the Insurance Council of Australia (ICA) have seen hailstorm-related claims increase by more than a third in the last 24 hours – up to 55,650 from yesterday’s 41,000 – alongside a growing loss estimate which has now hit A$514mn ($352.9mn).
-
News
Sompo International brings in James to lead London and International business
Sompo International has hired industry veteran Julian James to lead its London market and International insurance platforms.
