Travelers buys new $430mn North America agg cover
Travelers bought a new $430mn North American property aggregate cat excess-of-loss cover at 1.1 that it says it would have fully recovered on in each of the last two years given the elevated level of industry losses.
K2 buys farm and agri MGA Mid America Risk Managers
K2 Insurance Services has completed a deal to buy agricultural-focused specialty MGA Mid-America Risk Managers (MARM).
Cathedral names Woolley next CEO as McKee exits
The chief executive of Cathedral Underwriting Limited Andrew McKee is to leave the Lloyd’s carrier at the end of the month.
ABR Re hires Ramlal as underwriting director
Former QBE Re executive Sean Ramlal has joined Chubb and Blackrock’s joint venture reinsurer ABR Reinsurance Capital Holdings as underwriting director.
Travelers underlying underwriting results help offset higher cat losses
Travelers reported fourth quarter core income broadly in line with Wall Street forecasts despite higher cat losses and lower reserve releases as better underlying underwriting performance, higher investment income and a lower tax rate boosted the bottom line.
Eliot Partnership expands to Zurich as Swiss market booms
Zurich’s importance as a European reinsurance hub has been recognised by the London-headquartered search firm Eliot Partnership with the launch of a new hub in Switzerland.
The Insurer expands to New York
The Insurer has opened a New York editorial office, with two experienced journalists joining the growing team.
CatCo and Guy Carpenter: a history of a close relationship
In light of the ousting of its founding CEO Tony Belisle, The Insurer tracks the development of CatCo from its roots in the London broker Oxygen to become a dominant ILS retro market dependent upon Guy Carpenter and that is now under investigation for its loss disclosures…
Axa swoops on Hiscox for UK COO
Paris-headquartered Axa has named Shali Vasudeva as chief operating officer of Axa UK and Ireland.
Aon pegs nat cat insured losses at $90bn
Carriers are on the hook for $90bn for losses stemming from natural catastrophes in 2018, according to Aon.
Darag snaps up Italian legacy book from Donau Versicherung
Ambitious European legacy firm Darag has agreed to purchase a portfolio of Italian non-life business from Donau Versicherung AG (Donau).
Axis, Swiss Re, RSA and Gard on $175mn Star Centurion cover
Axis, Swiss Re and RSA all have significant exposure on the Gard-led hull claim for the Star Centurion vessel which collided with a tanker in the South China Sea earlier this month, The Insurer can reveal.
Germany and China agree to bolster (re)insurance ties
Germany has signed an agreement with China designed to boost the level of understanding and cooperation between the two countries on (re)insurance business and pledged to further open market access and deepen cooperation to broaden economic ties.
RSA hit again as Eastern Shipbuilding named $75mn total loss
UK insurer RSA is bracing itself for another major loss as a shipyard in Panama City, Florida – which was devastated by Hurricane Michael in October – has been named a total loss, The Insurer can reveal.
Markel hands CATCo reins to Rhoads and Barnard
Markel has handed Jed Rhoads and Andrew “Barney” Barnard the reins to investment manager Markel CATCo following the shock departure of CEO Tony Belisle and Bermuda CEO Alissa Fredricks on Friday (18 January).
Chubb pegs Q4 cat losses at $585mn
Insurance giant Chubb has said it expects to suffer catastrophe losses of $585mn pre-tax in the fourth quarter.
Belisle and Fredricks out of Markel CatCo over personal relationship
Markel CatCo CEO Tony Belisle and Bermuda CEO Alissa Fredricks have both left the company after an internal review found the executives had violated company policies relating to an undisclosed personal relationship.
RenRe’s Shepherd departs; linked with Arcus
RenRe’s London-based property underwriter Alex Shepherd has left the firm and has been linked with a move to the Arcus Syndicate 1856 once his notice period is completed, The Insurer understands.
Axa XL unit completes move to Ireland ahead of Brexit
Axa XL has completed the transfer of its European insurance company, XL Insurance Company SE (XLICSE), from the UK to Dublin ahead of the UK’s exit from the EU in March 2019.
Aspen poised to back Lodestar following RSA exit
Lodestar, the London-based fixed premium P&I MGA, is in advanced talks with Aspen to secure 2019 capacity following the decision by its previous backer RSA to withdraw its support, The Insurer can reveal.
North P&I Club secures Dublin nod for Brexit hub
North P&I has secured its post-Brexit trading following confirmation that its Irish subsidiary, North of England P&I DAC, has received approval as a non-life insurer from the Central Bank of Ireland.
Beach’s Howard calls for greater underwriter oversight
Beach Associates CEO Jason Howard has added to the calls for greater distinction between lead and follow markets while warning (re)insurers that the continued consolidation among brokers will lead to pressure on returns.
Beazley appoints Sally Lake finance director
London carrier Beazley has named Sally Lake as its finance director, replacing Martin Bride.
Swiss Re appoints Archie Kane to ReAssure chair ahead of IPO
Swiss Re has named former Bank of Ireland governor Archie Kane as the non-executive chairman of its UK-based closed book business ReAssure.
Argo forecasts $32mn Q4 nat cat bill
Bermudian carrier Argo expects its fourth quarter 2018 results to be hit by pre-tax catastrophe losses of $32mn, primarily related to Hurricane Michael and the California Wildfires.
JLT Re’s Flandro secures global head analysis role at Guy Carpenter
JLT Re’s lead analyst David Flandro has secured a senior position at Guy Carpenter in the reshuffle of senior staff that will come into effect when MMC completes its acquisition of the London headquartered broking house.
Lloyd’s sets out 2019 performance review activities and expands oversight
Lloyd’s is introducing new risk-based oversight of syndicates as part of its performance review initiative.
Aviation market continues to harden in Q4: JLT
The aviation insurance market continued to harden during the fourth quarter as renewal activity intensified, JLT has said.
Guy Carp names Hochberg head of new Capital Solutions unit post-JLT takeover
Guy Carpenter has unveiled a new business unit - Global Capital Solutions Group – with JLT Re’s Ed Hochberg taking a top role.
McGriff, CRC 4Q revenues leap to record $487mn
North Carolina-headquartered financial services group BB&T said broking revenues in its insurance holdings arm climbed to a “record” $487mn in the fourth quarter 2018.
Aon takes Argenta’s Mackay for new Lloyd’s capital advisory role
ConsiliumRe targets LatAm expansion with Miami hub
Maiden hands European automotive group to Allianz
Mercer's Ferland promoted to CEO, Portalatin named MMC vice chair
Perils pegs final Friederike loss at Eur1.67bn
The Hanover hires Mills to lead new E&S offering
P&C insurers report $4.7bn underwriting gain over 2018
Brexit: London maintained Extremus participations at 1.1
Geopolitical tensions hampering ability to tackle global risks: WEF
Willis Re pegs nat cat insured losses at $71.5bn
Markel CatCo shareholders file lawsuit
The Hanover pegs Q4 losses at $50mn
AIG adds former CNA CEO Motamed to board
MIB secures £400mn treaty for motor terrorism cover
Hiscox Re's Lazarus departs
AIG completes giant casualty treaty; Swiss Re leads
PG&E bankruptcy filing will not slow claims payments: commissioner
Barbican makes wave of promotions at Syndicate 1955
HDI names McDonald UK and Ireland head
Swiss Re pegs fourth quarter cat losses at $1.3bn
AIG details Lexington repositioning for middle market growth
PG&E prepares for bankruptcy as wildfire costs mount
CATCo chairman continues to buy stock
Pool Re to finally test ILS appetite with £75mn UK terror cat bond
Marsh releases PPL usage figures ahead of broker mandate
Guy Carp: Europe cat renewals weighs on 1.1 pricing
Lloyd’s should focus on US over emerging markets: Brooks
AM Best downgrades Talanx and Hannover Re’s new EUR1bn European carrier
JLT Re’s Florida head Betz to depart
Zurich faces $100mn lawsuit over unpaid NotPetya claim
Aegis London shuffles board as Dalton stands down
MS Amlin’s CFO Worth exits
FHCF Michael payouts to hit $650mn
Argo begins search for new E&S chief
Arch ups Q4 cat loss range to include wildfires
CCRIF expands to Panama
Axa XL partners up on AI for property risk engineering
Hyperion earnings up 19 percent at full year
Trump threatens to shut down FEMA payments for Cali wildfire victims
Motor pricing and claims costs lead to Direct Line earnings pressure in 2019
R&Q bolsters position in captive market with two further transactions
Hyperion founder: “We will never sell”
AmTrust confirms post take-private deal exits and new leadership
Beazley targets financial lines growth in Asia with Pegasus partnership
MMC issues $5bn debt to finance JLT deal
Argo renews collateralized sidecar Harambee Re for 2019
CFC adds business interruption to cyber offering
Nat cat insured losses hit $80bn in 2018: Munich Re
Swiss Re launches parametric water-level insurance
Talanx and Hannover Re’s new EUR1bn European carrier goes live