E&S underwriters are heading to San Diego this weekend for the annual marketplace of the Wholesale & Specialty Insurance Association. The mood at the meeting is likely to be upbeat, if this publication’s conversation with Jude DiBattista, head of E&S property casualty at QBE North America, is anything to go ...
Risk Strategies has rebranded its Matt Power-led wholesale business as One80 Intermediaries and added a number of senior executives to the platform, including Donovan Nowell and Brad Keller as financial lines and property practice leaders, The Insurer can reveal.
Ping An is reportedly seeking a New York listing for its OneConnect fintech platform in mid-November, following Chinese insurtech Huize filing for an IPO earlier this month.
The domestic general insurance market can expect losses relating to Typhoon Faxai in the region of 300bn yen ($2.8bn), according to the General Insurance Association of Japan (GIAJ).
Ratings agency AM Best has affirmed the financial strength rating of A- (excellent) of Randall & Quilter subsidiaries Accredited Surety and Casualty Company (ASCC), based in Orlando, Florida and Accredited Insurance (Europe) Limited (AIEL), based in Malta.
Hurricane Jerry, the tenth named storm of the Atlantic hurricane season, is expected to swerve an encounter with the Bahamas on Sunday, according to the latest advisory notice from the US National Hurricane Center.
The US House of Representatives has passed a continuing resolution that includes an extension of the National Flood Insurance Program to 21 November.
AM Best has said Ingosstrakh’s strong balance sheet, as well as the improved operating environment in Russia has informed its upgrade of the non-life carrier.
Insurance broker consolidator Acrisure and investment company Tulco Holdings have unveiled Altway Insurance, a direct-to-consumer brokerage platform fully supported by artificial intelligence.
The US arm of Italian insurer Generali Group has launched a specialty insurance division that will focus on providing warranty services and solutions.
Japanese insurer MS&AD has revealed it expects almost $1bn in losses from Typhoon Faxai, with Sompo reportedly on the hook for a similar amount of losses.
Legacy specialist Compre has outlined its intentions to gain a foothold in Lloyd’s of London by next year after narrowly missing out in its bid for the Standard Syndicate.
Lloyd’s half-year result was met with cautious optimism by analysts as market-wide pre-tax profits climbed from £0.6mn in 2018 H1 to £2.3bn this year.
Axa Liabilities Managers has continued to expand its Asian legacy portfolio with the acquisition of the non-life legacy portfolio of Munich Re Malaysia for an undisclosed sum.
London-listed Charles Taylor has agreed to a £261mn ($325.6mn) deal which will see the firm be taken private by Lovell Minnick.
Purdue Pharma has detailed its insurers in a bankruptcy filing in which it also revealed it is looking at setting up a captive because of the challenge of finding liability insurance from third parties.
The board of EMC Insurance Group (EMCI) has won sufficient support from shareholders for the revised $36 a share buyout offer from majority owner Employers Mutual Casualty Company (EMCC) that it recommended earlier this year, bringing the M&A saga to an end.
The mutual insurers rated by AM Best reported significant improvement in their underwriting performance in 2018, which contributed to solid surplus growth.
Brit has secured an A financial strength rating from AM Best for the Bermudian platform it will use to expand its reinsurance portfolio in 2020 with a focus on US casualty excess-of-loss (XOL) business.
Specialty (re)insurer Brit is meeting with ILS investors as it looks to raise funds to upsize its third-party capital platform, including collateralized reinsurance fund Sussex Capital and sidecar Versutus, The Insurer can reveal.
Ageas Insurance has signed a new four-year contract worth £200mn with Ardonagh Group subsidiary Uris Group.
Bermuda schools and businesses – including the offices of (re)insurers, brokers and ILS funds – were closed today as the island bunkers down for a glancing blow from Category 3 Hurricane Humberto.
Paul Western has been appointed group chief underwriting officer of managing general agents Ascent Underwriting and Cove Programs, both owned by private equity firm Preservation Capital.
Arthur J Gallagher (AJG) has bought specialist broker Allied Insurance Brokers (AIB) and its program manager subsidiary Ascinsure Specialty Risk in a move that adds to its construction capabilities.
Brent Slade has been named president of Markel’s new retro ILS fund Lodgepine Capital Management Limited, joining from Hamilton Capital Partners.
Lloyd’s, which today reported a pre-tax profit of £2.3bn in H1 2018, has appointed David Sansom as its new Chief Risk Officer (CRO), subject to regulatory approval.
Only two of the eight businesses at Lloyd’s were profitable in the first half of 2019, pushing the corporation to an underwriting loss of £86mn, compared to a profit of £308mn in H1 2018.
The high level of delegated authority business in the current Lloyd’s market is unsustainable, according to the findings of a new report from the Lloyd’s Market Association (LMA) and PwC.
Lloyd’s of London has reported a pre-tax profit of £2.3bn for the first six months of the year – a marked improvement on the £0.6bn it posted in the same period last year – as the market continues its turnaround programme.