In March 2018, Axa’s youthful CEO Thomas Burberl was forced to defend his decision to pay $15.3bn for XL Catlin as his own company’s share price tumbled in response.
The George Soros-backed Vibe Syndicate 5678 has become the fourth full Lloyd’s syndicate to close as a consequence of the tough performance review led by the market’s head of underwriting, Jon Hancock.
Investors reacted positively to yeterday’s news of Argo CEO Mark Watson’s sudden departure. Some may have been encouraged by what they see as an increased likelihood of a sale, others may see opportunity in a clean slate and a new chapter in increasingly attractive market conditions.
The second Lloyd’s capacity auction begins tomorrow and observers will be scrutinizing closely to see whether the marked gap between buyers and sellers’ expectations narrows.
It was the most high profile London market broker poaching dispute for years with the added piquancy of bad blood between the two organisations.
The impact of social inflation on the US property casualty industry has been the hot topic of results season so far, with Travelers’ CEO bemoaning the “broken tort system” and WR Berkley’s CEO comparing it to the med mal crisis in the early 2000s.
As the 1.1 renewals draw nearer, the significantly tighter retro market is likely to have a greater impact on reinsurer’s behavior than a hardening primary insurance market will, as buyers are forced to switch from aggregate and other alternatives to more expensive traditional occurrence and ultimate net loss (UNL) coverages.
In the first half of 2019, M&A in the global (re)insurance industry hit its highest level for four years. Activity was up in most regions, driven by a surge of deals in Europe that had previously been put on hold due to Brexit preparations, strong economic fundamentals in the US ...
The revelation that Lloyd’s is being accused of “bad faith” in the High Court by a high profile Name has shone a light on this determined-but-small community of private investors who may prove a challenge to CEO John Neal’s plans to overhaul some of the market’s complicated structures.
Non-life (re)insurance stocks have continued to do well in 2019, despite an equities sell-off in July-August, but traded ILS has remained relatively moribund after the traumas of 2017-18.
Swiss Re has reclaimed the top spot in AM Best’s list of the world’s largest reinsurers, boosted by 4.7 percent growth in its 2018 reinsurance gross written premium (GWP).
They are a resilient lot, those Lloyd’s Names. Buffeted by the winds of economic and judicial adversity, this set of investors has remained a loyal and perspicacious component of the market.
As Lloyd’s awaits the next stage of its transformation, which already promises encouraging headway in improving efficiency, exclusive analysis from The Insurer has revealed that the true drag on Lloyd’s combined ratio is the consistently high cost of brokerage at the 331-year-old marketplace.
Nothing unites the British like their entrenched dislike of the French. Over nearly a millennia of less than cordial co-existence from the Battle of Hastings to the Brexit referendum.
Ratings agencies believe the slowdown in the influx of alternative capital to the reinsurance industry will continue, which comes against a backdrop of increased reliance on the retrocession provided by third-party sources.
Shares in the “big four” European reinsurers — Munich Re, Swiss Re, Hannover Re, and Scor — broadly held firm on Friday, despite current projections that Hurricane Dorian is set to make landfall in Florida as a potential cat four hurricane late this weekend.
A lack of clarity remains around the insurability of the fines for infringement of GDPR – such as the recent large penalties against British Airways and Marriott – as well as FTC and SEC fines for privacy violations in the US.
US insurers are indicating the road ahead for commercial auto is smoother than in recent years, despite no slow down in the loss cost trends that have made it such an unprofitable line.
The recent Capital One breach is not close to a market changing event for cyber underwriters – but other warning signs are emerging that this growing line of business could be heading for a fall.
Florida insurance CEOs on Q2 earnings calls predicted that a spike of assignment of benefit (AOB) cases ahead of reform enacted 1 July was the “dying breath” of an issue that has plagued the industry.