CRC Group has reported that reductions in capacity are challenging the US construction industry, particularly for commercial auto where the wholesale broker is often having to write buffers.
Willis Towers Watson has named JLT’s former London power broking head Andrzej Danyluk as head of international property, London.
Pen Underwriting – Gallagher’s managing general agent – has promoted Michelle Bree to chief operating officer, with effect from 1 December 2019.
The chief executive of Lloyd’s has set out plans to target more business on the continent following the UK’s departure from the European Union.
UK reinsurance terrorism mutual Pool Re is considering a shift from providing excess-of-loss cover to treaty reinsurance.
The UK’s government-backed terrorism reinsurer Pool Re has launched a specialist unit created to support its membership by sharing understanding, terrorism modelling and risk management techniques.
Guy Carpenter has confirmed the hire of Aon’s Robert Johnston and Peter Komposch in Bermuda, a move first revealed by The Insurer in May.
Gig economy-focused Zego has become the first UK insurtech to be granted an insurance licence, allowing the tech firm to build and sell its own products.
Argo Group expects to close the process of obtaining reinsurance cover for its run-off segment before year end, while it will also continue the pruning of its international segment that saw it withdraw from marine hull and certain coverholder business in Q3.
Insurance-focused UK investment firm BP Marsh is set to take a stake in independent London market intermediary Prospect Insurance Brokers (PIB) as the broker gears up for expansion, The Insurer can reveal.
Professional indemnity (PI) policies for workers in the construction sector have seen premiums rise “to well in excess of 100 percent”, as insurers increasingly exclude cladding or have pulled out of PI entirely.
Insurtech transaction funding stood at $511.3mn in October 2019, down from $587.4mn this time last year, reflecting a year-on-year slowdown of transactions, according to analysts at Keefe, Bruyette & Woods.
The Hartford-owned Navigators’ head of E&S property Jim Wallace has resigned from the carrier and is set to join Munich Re’s expansive US specialty insurance platform, The Insurer can reveal.
Expansive US specialty insurance brokerage CAC Specialty has hired former Lockton executive Chelley Schaper as senior vice president to lead its new real estate practice, The Insurer can reveal.
Troubled public D&O accounts could see rates more than double, according to retail broker USI in its latest forecasts for pricing in the US commercial insurance sector going into 2020.
A flurry of large claims against reps & warranties (R&W) insurers in the US this year is likely contributing to a deceleration of rate softening in the sector, despite abundant capacity, according to broker USI.
Hyperion – which owns brokers Howden and RKH, as well as managing general agent Dual – has named Mark Craig as group chief financial officer, effective 1 January 2020.
Global commercial insurance pricing has increased by 8 percent in the third quarter of this year, on average, marking the eighth consecutive quarter of pricing increases.
Sirius Syndicate 1945 has topped the third quarter league table of Lloyd’s adopters of the e-placing platform PPL, with Lloyd’s syndicates accepting more than the mandated target of 60 percent of ‘in scope’ risks.
Scor-owned Channel Syndicate has agreed a reinsurance to close deal for its 2017 and prior years of account, subject to regulatory approval.
Asta-managed Blenheim Syndicate has received approval from Lloyd’s to increase its capacity to £250mn ($320.1mn) in 2020, up from £215mn in 2019.
Talanx Group – which includes HDI Specialty and Hannover Re – has delivered a third quarter operating profit of Eur619mn ($682mn), up from the Eur259mn it reported in the third quarter of 2018.
Hardening conditions in E&S property are expected to continue well into 2020, while casualty submissions are surging and the IPO D&O market is the hardest in history, according to wholesale giant AmWINS.
Sirius International Insurance Group is still actively working to find a solution to resolve its stock’s “unique illiquidity situation” and shareholder concentration, according to president and CEO Kip Oberting.
Hallmark Financial Services reported its gross written premiums increased 33 percent in the third quarter, as the US specialty insurer benefited from the big rate increases being seen on E&S business.
Stephen Kelley is set to leave his position as president of Breckenridge Insurance Group’s Blue River Underwriters (BRU) at the end of the year, the latest in a series of executive departures from the WR Berkley-owned program manager and wholesaler, The Insurer can reveal.
PartnerRe swung to a non-life $49mn underwriting profit in the third quarter despite $93mn in pre-tax losses from Hurricane Dorian and Typhoon Faxai, net of retrocession and reinstatement premiums.
Blockchain and AI-driven start-up AllDigital Specialty has hired Eric Micheals from Hiscox USA as CUO and COO as it builds out a twin-track offering as an MGA and technology as a service (TaaS) provider, The Insurer can reveal.
Fema has announced that its Risk Rating 2.0 initiative will now be implemented in October 2021, a year later than it originally announced, against a backdrop of political criticism of the new rating system.
London-listed carrier Hiscox is suffering from “blue-eyed boy” syndrome after its shares initially fell over 14 percent in trading yesterday following US casualty loss fears, according to Canaccord Genuity.