Better-than-expected organic revenue growth in the insurance brokerage business of Truist Financial Corporation should be taken as a positive read-across for other US-listed intermediaries when they report in the coming weeks, according to Wells Fargo analyst Elyse Greenspan.
Onshore losses from this year’s five landfalling US hurricanes will have an aggregate cost to the private (re)insurance sector somewhere between $8.6bn and $23.2bn, according to modelled loss estimates issued to date.
Insurers are moving away from the loss-making US lead umbrella market and instead focusing their attention on the excess market which for most carriers is making money, according to a new report from McGriff.
Last night’s flurry of preannouncements from US-listed (re)insurers provided a flavour of what’s to come as the Q3 earnings season gets underway this month, with frequency of cat losses, Covid-19 updates, pricing commentary, macroeconomic pressures and the trendline of underlying loss ratios set to dominate.
In other circumstances Arch’s $31.10 agreed offer for Watford Holdings might look like the start of a saga. But while Enstar may yet counter, the interwovenness of Arch and the total return reinsurer it founded means the 0.8x deal on the table may satisfy more parties than the initial noise ...
Marine and aviation classes have faced further scrutiny at Lloyd’s over the past year as the Corporation continues to tighten its stance on underperforming business.
Lyft’s decision to broaden its insurers to include Allstate, Liberty Mutual and Mobilitas has reduced Axa XL’s dominance within the panel.
The rise in commercial insurance rates is driving an uptick in demand from buyers for captive solutions.
Bermudian reinsurer Watford Holdings led the gains in the third quarter among The Insurer’s universe of US-listed P&C carriers and brokers, with its stock up over 37 percent fuelled by reports the company was set to be acquired by an Arch-led consortium.
Shares in London-listed Hiscox gained nearly 14 percent in the third quarter of 2020, the largest recovery among European carriers covered by this publication.
Fairfax-owned Riverstone’s acquisition of Neon is further evidence of the run-off specialist’s continued appetite for Lloyd’s legacy business.
New York-headquartered Evercore has continued to be the most visibly active M&A (re)insurance sector advisory firm in the Covid-19 fallout with appointments to work on James Slaughter’s start-up venture as well as emerging as advisor to A-Plan on its sale to Hyperion.
Solicitors have faced premium increases of up to 50 percent as they look to secure professional indemnity insurance cover in the run up to the 1 October renewals.
Rate increases in the US property market as existing markets retrench are attracting new carriers and facilities as well as capacity from facultative reinsurance, alternative capital and Bermudians looking to fill gaps in placements, according to CRC.
Earlier today, Willis Towers Watson confirmed it has made 45 hires across its aviation team over the past 18 months, naming Paul Barker, Neil Black and David Boyle as recent additions (see table).
Beazley’s announcement on Tuesday that it had doubled its estimated Covid-19 claims bill to $340mn has highlighted that the industry’s claims exposure to the pandemic is far from over.
Covid-19 has been the defining event of 2020 and one of the most significant societal and economic disruptors of most of our lifetimes
After a “scary few months”, the momentum behind state and federal legislation to retroactively force insurers to cover Covid-19 business interruption (BI) losses appears to have stalled, although observers warn some state lawmakers may introduce bills in their next legislative session.
This week has seen further evidence of private equity’s renewed interest in the Lloyd’s market with two Lloyd’s businesses securing investment to fuel growth at One Lime Street.