Brown & Brown organic growth reaches 5.2% in “great” Q4
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.
Hawksworth exits Willis Re for Guy Carpenter
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.
Global Aerospace hires former Gallagher SVP in Dallas
Former Gallagher aviation broker Jason Hendrix has joined Global Aerospace in its Dallas office as AVP and underwriting manager.
AGCS’ Schiavone to fill old role and replace Coppola
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.
Swiss Re CorSo hires Coppola from AGCS to spearhead US casualty repositioning
Swiss Re Corporate Solutions has hired Laura Coppola from rival Allianz Global Corporate & Specialty (AGCS) as it repositions its troublesome US casualty book.
RSG premium volume up 35% in 2019 as E&S market booms
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.
Beazley looks to TMHCC’s Sanches for US healthcare role
Blue-chip insurer Beazley has hired Justin Sanches as an underwriter within the US healthcare liability team, based in LA.
Brewer Lane makes first investment in Socotra
Newly launched insurtech fund Brewer Lane Ventures has made its first investment after leading a Series B funding round in Socotra.
Everest and Embroker team up for lawyers’ professional liability program
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 prioritises Brexit, climate crisis and market modernization in 2020
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.
Aston Lark acquires Isca Barum
Goldman Sachs-backed broker Aston Lark has acquired Isca Barum Insurance Brokers in its first deal of 2020.
AIG dodges $100mn bonus bill after court win
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 shifts Kemper outlook to positive
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.
(Re)insurers’ shares dip as Coronavirus fears drive wider sell-off
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.
Gallagher names Payton to lead combined property casualty & special risks business
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 appoints Symms as head of outwards reinsurance
Bermudian Fidelis has appointed John Symms as head of outwards reinsurance on the back of an uptick in reinsurance partnerships and quota share relationships.
RenRe working with TigerRisk on major Lloyd’s legacy transaction
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.
Allianz Holdings names Young chief compliance officer
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 takes over Montana captive Vigneron Insurance
London-listed legacy and program specialist R&Q has acquired the Montana captive insurer, Vigneron Insurance Company, Inc. (VICI), for an undisclosed sum.
Ed specie heist from Marsh JLT now totals 19
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 grows revenues by 17% in 2019
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.
Fitch assigns BBB rating to State National cat bond
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.
AssuredPartners buys two Illinois brokerages
US broker consolidator AssuredPartners has acquired two Illinois-based brokerages with combined revenues of $30mn.
La Réunion Aérienne hires MS Amlin’s Brett in BD role
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.
New broker Protecdiv eyes $100mn revenue in five years
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.
Single event definition to determine Australian reinsurance payout: AM Best
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 adds E&S platform with Arrowood acquisition
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.
Spore to stick with MMC in Guy Carpenter role after Lockton Re approach
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.
Record-breaking Australian bushfire losses soar to A$1.65bn: ICA
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.
Marsh acts swiftly to replace defecting specie head Gordon
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.
Caser acquisition marks latest in Helvetia’s European expansion
FCA names Woolard interim chief executive
Neon’s Coleman to head financial lines at Barents Re
Axa mulls sale of Middle East business: reports
Higher claims dent IAG 2020 margin
Helvetia snaps up 70% of Spain’s Caser for Eur780mn
Meek’s Homesite enters strategic partnership with K2
Acrisure revenues expected to top $2bn this year
Integrand’s reinsurers hit back at attempt to stall arbitration
RLI reveals strong Q4 rate increase momentum
Travelers getting more aggressive on tort claims: Schnitzer
Denali Specialty hires Senger to head delegated authorities unit
FCA warns market to be ready for no-deal Brexit
Investors send insurance stocks down on tort fears
Barclays analyst Gelb takes McKinsey role
Lovell Minnick completes Charles Taylor acquisition
Travelers buys less agg limit and raises retention at renewal
Chubb pet insurers commanded to repay $4.7mn for overcharging
Insured cat losses fall 34% to $53bn in 2019: Willis Re
Travelers stabilizes with in-line earnings on lower Q4 cat losses
Australia hailstorm losses swell to $353mn: ICA
Sompo International brings in James to lead London and International business
Zurich’s N&G nets NMU’s commercial marine book
AIG’s Duperreault bucks coal retrenchment trend
Lockton looks to JLT’s Harton for Ireland CEO
Securis edges closer to partial Lloyd’s exit despite loss deterioration
Topa names COO as management changes continue
Atlas Financial moves further towards MGA model with subsidiary sale
Florida Family loses A- AM Best rating
ProAssurance issues profit warning on $37mn Q4 reserve charge
Higher reserve releases boost RLI Q4 operating income
Brown & Brown buys Dallas-based MGA Texas All Risk
NFP acquires Arizona P&C broker Koty-Leavitt
Lockton Re SVP Ford joins Willis Re defectors
Lloyd’s names Crawford-Ingle audit committee chair
Tryg special dividend sees shares climb
Markel, RenRe and Nephila among cyber start-up Cowbell’s reinsurers
Swiss Re faces potential $720mn Hagibis hit: Jefferies
AGCS promotes Haagen to specialty CUO
Lions Gate expands surety practice with Medina appointment
BMS builds ILS and E&S expertise with Kohonen hire
Munich Re puts $100mn capacity behind MGU’s environmental cost cap cover
Hailstorm damage in Australia climbs to $280mn: ICA
LSM’s Moore succeeds Beazley’s Horton as LMG chair
Insured cat losses fall to $71bn in 2019: Aon
S&P Global upgrades Covéa rating to AA-
Hyperion and JLT settle defector legal dispute
LMA hires Hayes as underwriting director
CFC acquires big data insurtech ThreatInformer
Aviva chairman Montague to step down as shake-up continues