travelers_share

Travelers buys new $430mn North America agg cover

2019-01-22T23:02:00+00:00

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.

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K2 buys farm and agri MGA Mid America Risk Managers

2019-01-22T21:46:00+00:00

K2 Insurance Services has completed a deal to buy agricultural-focused specialty MGA Mid-America Risk Managers (MARM).

Andrew Mckee and Emma Woolley

Cathedral names Woolley next CEO as McKee exits

2019-01-22T16:44:00+00:00

The chief executive of Cathedral Underwriting Limited Andrew McKee is to leave the Lloyd’s carrier at the end of the month.

chubb logo

ABR Re hires Ramlal as underwriting director

2019-01-22T16:09:00+00:00

Former QBE Re executive Sean Ramlal has joined Chubb and Blackrock’s joint venture reinsurer ABR Reinsurance Capital Holdings as underwriting director.

travellers building

Travelers underlying underwriting results help offset higher cat losses

2019-01-22T13:38:00+00:00

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.

Zurich, Switzerland

Eliot Partnership expands to Zurich as Swiss market booms

2019-01-22T12:42:00+00:00

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.

Dave Bull and Michael Loney New York Office

The Insurer expands to New York

2019-01-22T12:34:00+00:00

The Insurer has opened a New York editorial office, with two experienced journalists joining the growing team.

CatCo

CatCo and Guy Carpenter: a history of a close relationship

2019-01-22T12:13:00+00:00

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…

Shali Vasudeva

Axa swoops on Hiscox for UK COO

2019-01-22T11:43:00+00:00

Paris-headquartered Axa has named Shali Vasudeva as chief operating officer of Axa UK and Ireland.

2018 ‘Elevated, yet manageable’ catastrophe loss year i

Aon pegs nat cat insured losses at $90bn

2019-01-22T11:05:00+00:00

Carriers are on the hook for $90bn for losses stemming from natural catastrophes in 2018, according to Aon.

Tom-Booth-Darag

Darag snaps up Italian legacy book from Donau Versicherung

2019-01-22T09:22:00+00:00

Ambitious European legacy firm Darag has agreed to purchase a portfolio of Italian non-life business from Donau Versicherung AG (Donau).

Marine port cargo generic

Axis, Swiss Re, RSA and Gard on $175mn Star Centurion cover

2019-01-21T18:21:00+00:00

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.

Merkel and Xi Jinping i

Germany and China agree to bolster (re)insurance ties

2019-01-21T14:50:00+00:00

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.

North star scapsized ship

RSA hit again as Eastern Shipbuilding named $75mn total loss

2019-01-21T13:11:00+00:00

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.

Jed Rhoads

Markel hands CATCo reins to Rhoads and Barnard

2019-01-21T09:26:00+00:00

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).

Hurricane Michael destruction

Chubb pegs Q4 cat losses at $585mn

2019-01-21T08:01:00+00:00

Insurance giant Chubb has said it expects to suffer catastrophe losses of $585mn pre-tax in the fourth quarter.

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Belisle and Fredricks out of Markel CatCo over personal relationship

2019-01-19T17:24:00+00:00

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.

Lloyd's Full underwriting room

RenRe’s Shepherd departs; linked with Arcus

2019-01-18T17:29:00+00:00

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.

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Axa XL unit completes move to Ireland ahead of Brexit

2019-01-18T16:37:00+00:00

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.

RSG-Lodestar

Aspen poised to back Lodestar following RSA exit

2019-01-18T16:15:00+00:00

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.

Marine, cargo ships

North P&I Club secures Dublin nod for Brexit hub

2019-01-18T15:42:00+00:00

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.

city of london

Beach’s Howard calls for greater underwriter oversight

2019-01-18T14:59:00+00:00

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.

Sally Lake Beazley

Beazley appoints Sally Lake finance director

2019-01-18T13:50:00+00:00

London carrier Beazley has named Sally Lake as its finance director, replacing Martin Bride.

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Swiss Re appoints Archie Kane to ReAssure chair ahead of IPO

2019-01-18T10:25:00+00:00

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

Argo forecasts $32mn Q4 nat cat bill

2019-01-18T08:05:00+00:00

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.

David Flandro

JLT Re’s Flandro secures global head analysis role at Guy Carpenter

2019-01-17T17:34:00+00:00

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 and Willis building

Lloyd’s sets out 2019 performance review activities and expands oversight

2019-01-17T16:33:00+00:00

Lloyd’s is introducing new risk-based oversight of syndicates as part of its performance review initiative.

5 year global airline hull and liability premium and claims

Aviation market continues to harden in Q4: JLT

2019-01-17T14:49:00+00:00

The aviation insurance market continued to harden during the fourth quarter as renewal activity intensified, JLT has said.

Ed Hochberg

Guy Carp names Hochberg head of new Capital Solutions unit post-JLT takeover

2019-01-17T14:26:00+00:00

Guy Carpenter has unveiled a new business unit - Global Capital Solutions Group – with JLT Re’s Ed Hochberg taking a top role.

BB&B Q4 results

McGriff, CRC 4Q revenues leap to record $487mn

2019-01-17T13:43:00+00:00

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.