Jude Dibattista Headshot

E&S pricing momentum to carry into 2020: QBE’s DiBattista

2019-09-20T18:20:00+01:00

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 ...

Matt Power One80

Risk Strategies wholesale rebrands and adds senior broking execs

2019-09-20T13:58:00+01:00

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.

OneConnect

Ping An fintech unit joins insurtech Huize in seeking US listing: report

2019-09-20T14:49:00+01:00

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.

Typhoon Faxai credit NOAA

Japanese market can expect $2.8bn Faxai loss

2019-09-20T10:19:00+01:00

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).

Ken Randall – R&Q

AM Best affirms R&Q credit rating; subsidiaries receive A-financial strength rating

2019-09-20T10:08:00+01:00

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.

Storm, Caribbean

Hurricane Jerry set to bypass the Bahamas

2019-09-20T07:40:00+01:00

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.

National Flood Insurance Program’s new rating system

House passes NFIP extension as part of funding bill

2019-09-19T20:48:00+01:00

The US House of Representatives has passed a continuing resolution that includes an extension of the National Flood Insurance Program to 21 November.

Moscow

AM Best upgrades Russian carrier Ingosstrakh

2019-09-19T16:03:00+01:00

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.

Altway

Acrisure launches AI-based brokerage JV with investment firm Tulco

2019-09-19T15:59:00+01:00

Insurance broker consolidator Acrisure and investment company Tulco Holdings have unveiled Altway Insurance, a direct-to-consumer brokerage platform fully supported by artificial intelligence.

Generali logo

Generali launches US specialty unit to write warranty business

2019-09-19T15:47:00+01:00

The US arm of Italian insurer Generali Group has launched a specialty insurance division that will focus on providing warranty services and solutions.

Typhoon Faxai credit NOAA

MS&AD reveals $930mn Faxai loss estimate

2019-09-19T15:36:00+01:00

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.

Compre

Compre commits to Lloyd’s platform by 2020 after missing out on Standard Syndicate

2019-09-19T14:27:00+01:00

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 building

Analysis: Analysts give Neal’s turnaround plans a cautious thumbs up

2019-09-19T12:57:00+01:00

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 logo on building

Axa Liabilities Managers acquires Munich Re Malaysia portfolio

2019-09-19T09:12:00+01:00

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.

city of london landscape

Charles Taylor accepts £261mn PE takeover bid

2019-09-19T08:05:00+01:00

London-listed Charles Taylor has agreed to a £261mn ($325.6mn) deal which will see the firm be taken private by Lovell Minnick.

Purdue

Purdue considers self insurance amid liability capacity challenge

2019-09-18T21:23:00+01:00

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.

Shephard EMC

Employers Mutual takeover of EMCI wins shareholder vote

2019-09-18T20:53:00+01:00

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.

AM Best

US mutual insurers’ underwriting results improving

2019-09-18T20:07:00+01:00

The mutual insurers rated by AM Best reported significant improvement in their underwriting performance in 2018, which contributed to solid surplus growth.

Sailboat in the Hamilton, Bermuda, harbor

Brit to grow US casualty XOL book after getting A rating for BDA platform

2019-09-18T19:04:00+01:00

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.

Brit

Brit looks to significantly increase AUM at Sussex Capital

2019-09-18T18:07:00+01:00

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 image

Ageas and Uris enter £200mn four-year partnership

2019-09-18T17:06:00+01:00

Ageas Insurance has signed a new four-year contract worth £200mn with Ardonagh Group subsidiary Uris Group.

Humberto cone

Bermuda braces for blow from Cat 3 Humberto

2019-09-18T16:54:00+01:00

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.

Preservation Capital, Ascent and Cove Programs

Amlin’s Western joins Ascent-Cove as CUO

2019-09-18T16:02:00+01:00

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.

Pat Gallagher – Gallagher

AJG buys specialty construction broker and program manager

2019-09-18T14:48:00+01:00

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.

Brenton Slade

Markel hires Hamilton’s Slade as Lodgepine president

2019-09-18T12:43:00+01:00

Brent Slade has been named president of Markel’s new retro ILS fund Lodgepine Capital Management Limited, joining from Hamilton Capital Partners.

lloyds exterior lime st

Lloyd’s confirms Sansom in CRO role; “People officer” Andrews exits

2019-09-18T11:27:00+01:00

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.

Lloyd's Full underwriting room

Property and energy only lines to turn H1 underwriting profit at Lloyd's

2019-09-18T10:26:00+01:00

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.

Lloyd's building

Delegated business boom unsustainable: LMA

2019-09-18T08:54:00+01:00

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.

John-Neal-Lloyd's-new

Lloyd’s H1 profits climb to £2.3bn on investments; combined ratio slips to 98.8%

2019-09-18T06:43:00+01:00

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. 

AXA XL – London

Axa XL hires senior underwriter from Farm Credit Administration

2019-09-17T21:09:00+01:00

Axa XL has added Edward Moeller as senior underwriter in its political risk, credit and bond team.