Brown & Brown Q4 results

Brown & Brown organic growth reaches 5.2% in “great” Q4

2020-01-27T23:47:00+00:00

Brown & Brown’s fourth quarter 2019 revenues increased by 5.2 percent year on year on an organic basis, with the company’s president and chief executive praising what he said was “a great” period for the US broker.

Jim Hawksworth – Guy Carpenter

Hawksworth exits Willis Re for Guy Carpenter

2020-01-27T19:24:00+00:00

Willis Re’s Chicago branch manager Jim Hawksworth and his colleague Ben Davis have resigned to take roles at Guy Carpenter, The Insurer can reveal.

Jason Hendrix

Global Aerospace hires former Gallagher SVP in Dallas

2020-01-27T23:21:00+00:00

Former Gallagher aviation broker Jason Hendrix has joined Global Aerospace in its Dallas office as AVP and underwriting manager.

Paul Schiavone

AGCS’ Schiavone to fill old role and replace Coppola

2020-01-27T21:09:00+00:00

Allianz Global Corporate & Specialty’s Paul Schiavone will re-assume his previous role and step into the North American regional head of financial lines position vacated by Laura Coppola’s move to Swiss Re Corporate Solutions, The Insurer has learned.

Laura Coppola – Swiss Re Corporate Solutions

Swiss Re CorSo hires Coppola from AGCS to spearhead US casualty repositioning

2020-01-27T18:06:00+00:00

Swiss Re Corporate Solutions has hired Laura Coppola from rival Allianz Global Corporate & Specialty (AGCS) as it repositions its troublesome US casualty book.

Tim Turner – Ryan Specialty

RSG premium volume up 35% in 2019 as E&S market booms

2020-01-27T17:32:00+00:00

Ryan Specialty Group added more than 500 new employees in 2019 to keep pace with the surge of business coming into the E&S market that sent its premium volume rocketing by 35 percent to $9.6bn, The Insurer can reveal.

Justin Sanches – Beazley

Beazley looks to TMHCC’s Sanches for US healthcare role

2020-01-27T17:06:00+00:00

Blue-chip insurer Beazley has hired Justin Sanches as an underwriter within the US healthcare liability team, based in LA.

Brewer Lane and Socotra

Brewer Lane makes first investment in Socotra

2020-01-27T16:47:00+00:00

Newly launched insurtech fund Brewer Lane Ventures has made its first investment after leading a Series B funding round in Socotra.

Everest Re and Embroker

Everest and Embroker team up for lawyers’ professional liability program

2020-01-27T16:37:00+00:00

Everest Insurance has joined with digital insurance broker Embroker to provide a new online lawyers’ professional liability program for law firms with up to ten employed attorneys.

LIIBA

LIIBA prioritises Brexit, climate crisis and market modernization in 2020

2020-01-27T16:27:00+00:00

Members body the London and International Insurance Brokers’ Association (LIIBA) has unveiled initiatives that seek to address post-Brexit trading, updated broker regulation, digitalisation and the role insurance should play in addressing the planet’s changing climate.

Peter Blanc – Astonlark

Aston Lark acquires Isca Barum

2020-01-27T16:19:00+00:00

Goldman Sachs-backed broker Aston Lark has acquired Isca Barum Insurance Brokers in its first deal of 2020.

AIG Court house

AIG dodges $100mn bonus bill after court win

2020-01-27T15:09:00+00:00

Insurance giant AIG has won its UK court appeal to prevent former employees from collecting $100mn in controversial bonuses dating back to the financial crisis.

AM Best

AM Best shifts Kemper outlook to positive

2020-01-27T14:48:00+00:00

Rating agency AM Best has revised Kemper Corporation’s outlook to positive from stable, pointing towards its expectation that Kemper’s acquisition of  Infinity will strengthen the Chicago-headquartered carrier’s position as one of the leading nonstandard auto writers in the US.

FTSE share price

(Re)insurers’ shares dip as Coronavirus fears drive wider sell-off

2020-01-27T12:51:00+00:00

US (re)insurance stocks followed their European counterparts in trading down on Monday, continuing a slide witnessed across global equity markets last week as concerns rise about the spread of coronavirus and the disease’s potential impact on the world’s economy.

Malcolm Payton – Gallagher

Gallagher names Payton to lead combined property casualty & special risks business

2020-01-27T10:45:00+00:00

Gallagher has named Capsicum Re’s Malcolm Payton as managing director to lead its newly combined property casualty & special risks business, with immediate effect.

Fidelis

Fidelis appoints Symms as head of outwards reinsurance

2020-01-27T09:37:00+00:00

Bermudian Fidelis has appointed John Symms as head of outwards reinsurance on the back of an uptick in reinsurance partnerships and quota share relationships.

Renaissance Re – Lloyd's

RenRe working with TigerRisk on major Lloyd’s legacy transaction

2020-01-27T09:25:00+00:00

Bermudian (re)insurer RenaissanceRe has brought in TigerRisk to explore a large back-years deal for a circa £470mn ($615mn) casualty book for its Lloyd’s syndicate, The Insurer can reveal.

Margo Young – Allianz

Allianz Holdings names Young chief compliance officer

2020-01-27T08:30:00+00:00

Allianz Holdings – the holding company behind the principal insurance operations of Allianz SE in Great Britain – has appointed Margo Young as chief compliance officer.

R&Q building montage

R&Q takes over Montana captive Vigneron Insurance

2020-01-27T07:48:00+00:00

London-listed legacy and program specialist R&Q has acquired the Montana captive insurer, Vigneron Insurance Company, Inc. (VICI), for an undisclosed sum.

David-Gordon

Ed specie heist from Marsh JLT now totals 19

2020-01-27T07:41:00+00:00

The number of defectors from Marsh JLT Specialty’s fine art and specie team is expected to shortly surpass twenty after a wave of resignations last week following team leader David Gordon’s resignation earlier this month.

NFP

NFP grows revenues by 17% in 2019

2020-01-27T06:27:00+00:00

Expansive private equity-backed US broker NFP Corp increased revenues by 17 percent from $1.24bn to around $1.45bn last year as it grew organically and through acquisition.

Markel-Nephila

Fitch assigns BBB rating to State National cat bond

2020-01-24T22:39:00+00:00

Fitch has assigned a BBBsf rating to the Class A notes of the newly launched $100mn Stratosphere Re cat bond that provides protection to State National for tail risk assumed as a result of business it fronts for its Markel stablemate Nephila.

Assured Partners logo

AssuredPartners buys two Illinois brokerages

2020-01-24T22:23:00+00:00

US broker consolidator AssuredPartners has acquired two Illinois-based brokerages with combined revenues of $30mn.

Malcolm Brett

La Réunion Aérienne hires MS Amlin’s Brett in BD role

2020-01-24T22:21:00+00:00

Aerospace-focused La Réunion Aérienne (LRA) London and Réunion Aérienne & Spatial have brought in Malcolm Brett from MS Amlin as chief business development officer, with the new arrival set to join the business in February.

Protectdiv

New broker Protecdiv eyes $100mn revenue in five years

2020-01-24T20:10:00+00:00

Specialty property and casualty brokerage Protecdiv is now open for business and targeting $100mn of revenue within the next five years, after the company secured financial backing for the new venture.

Bushfires

Single event definition to determine Australian reinsurance payout: AM Best

2020-01-24T19:04:00+00:00

The reinsurance coverages triggered by the Australian bushfires remains uncertain, with terms and conditions likely to come under great scrutiny, AM Best has commented.

Transverse Insurance

Transverse adds E&S platform with Arrowood acquisition

2020-01-24T18:01:00+00:00

Program fronting start-up Transverse Insurance Group has secured an E&S platform with the acquisition of Arrowood Surplus Lines Insurance Company (ASLIC) as it builds out its operation in the US.

Lockton and Guy Carpenter

Spore to stick with MMC in Guy Carpenter role after Lockton Re approach

2020-01-24T17:00:00+00:00

Marsh executive Greg Spore has been turned around after resigning to join Lockton Global Re earlier this month and will now stay at MMC as head of Guy Carpenter’s financial lines centre of excellence.

ICA – California wildfire

Record-breaking Australian bushfire losses soar to A$1.65bn: ICA

2020-01-24T15:01:00+00:00

Insured losses in the wake of widespread bushfire damage in Australia have reached A$1.65bn ($1.13bn), according to the Insurance Council of Australia (ICA) – making the catastrophe the most expensive bushfire event on record.

Philip Turner – Marsh

Marsh acts swiftly to replace defecting specie head Gordon

2020-01-24T12:49:00+00:00

Marsh has named Philip Turner as UK head of specie within Marsh JLT Specialty, replacing David Gordon who resigned earlier this month, a move first revealed by The Insurer.