Asia, Singapore

TMK builds out Singapore team with Chubb hire

2018-12-10T09:15:00+00:00

Tokio Marine Kiln (TMK) has appointed Jamie Tang as a property underwriter in Singapore.

Lion Rock Hong Kong

Peak Re unveils $75mn sidecar Lion Rock Re

2018-12-10T07:24:00+00:00

Hong Kong-headquartered Peak Re has unveiled a $75mn special purpose insurer (SPI) which it describes as Asia’s first-ever sidecar.

Starstone-Bermuda

StarStone ends QS with ILS fund Securis

2018-12-07T17:40:00+00:00

StarStone has ended its partnership with major ILS provider Securis, The Insurer can reveal.

Richard-Whitt-Catco

Markel didn’t invest in CatCo’s $2.3bn+ “reload”

2018-12-07T17:31:00+00:00

Markel Corp didn’t invest in CatCo’s mammoth $2.3bn+ fund raising that occurred in late 2017 after Hurricanes Harvey, Irma and Maria caused more than a $100bn+ of industry losses while tying up billions of dollars of capital among ILS funds.

PartnerRe

Sanford leads trio of PartnerRe exits

2018-12-07T16:00:00+00:00

PartnerRe is set to see the departure of a trio of senior underwriting executives led by Head of North America P&C Richard (Dick) Sanford, The Insurer can reveal.

Bermuda 1

Enstar completes $200mn AmTrust investment

2018-12-07T12:50:00+00:00

Bermudian legacy-to-live carrier Enstar has completed its $200mn investment in Evergreen.

CNA Financial Corp share price down 15 percent in 2018 i

CNA gets improved deal on PL quota share

2018-12-07T12:11:00+00:00

US insurer CNA has been rewarded by reinsurers for the performance to date of its professional liability quota share with an extra half a point of ceding commission, The Insurer can reveal.

Aviation, airliner landing

Gallagher snaps up aviation broker Boston Marks

2018-12-07T10:46:00+00:00By Ryan Hewlett

Arthur J Gallagher has snapped up Boston Marks Group which includes Boston Marks Insurance NZ in New Zealand, BMG Aviation in Australia and the book of business of Boston Marks Insurance Brokers in the United Kingdom.

CATco listed fund collapses in value over past 18 months i

Markel CatCo shares fall to all-time low following regulatory investigation revelation

2018-12-07T10:44:00+00:00By Ryan Hewlett

Shares in the listed fund of retro investment specialist Markel CatCo fell 25 percent in London trading today (06 December) as the firm revealed US and Bermuda authorities are looking into loss reserves recorded in late 2017 and early 2018 at CatCo and its subsidiaries.

AXA logo on building

Axa XL ratings upgraded following mega-merger completion

2018-12-07T10:17:00+00:00By Ryan Hewlett

XL Group and Axa have both had their ratings removed from under review with developing implications and their financial strength rating upgraded by AM Best.

Validus logo

Validus Specialty swoops on Argo for CUO hire

2018-12-07T10:11:00+00:00By Ryan Hewlett

Validus Specialty has appointed Stephen McGill as Senior Vice President and Chief Underwriting Officer of Validus Specialty, Western World and Crop Risk Services, effective immediately.

CATCo share price i

Markel CatCo under investigation by US/Bermuda authorities

2018-12-07T08:39:00+00:00

Markel CatCo - a leading provider of collateralised retro capacity - confirmed last night it is under investigation by “US and Bermuda authorities” over its loss reserves.

California wildfire aftermath i

Majority of $10bn+ wildfire damage to be covered by insurance: Aon

2018-12-06T16:42:00+00:00

The majority of the losses stemming from the wildfires that ravaged parts of California last month will be insured, according to Aon.

london city lime st

Ed names Kendall head of cat & exposure management

2018-12-06T16:28:00+00:00By Ryan Hewlett

Global reinsurance, wholesale and specialty broker Ed has appointed Jo Kendall as head of catastrophe and exposure management.

city skyline London

AM Best upgrades global reinsurance market to stable

2018-12-06T16:04:00+00:00

AM Best has revised its outlook for the global reinsurance segment to stable from negative.

Mmc

Mercer to name JLT exec as new COO

2018-12-06T15:59:00+00:00By Ryan Hewlett

Investment consultancy Mercer will make the CEO of JLT’s employee benefits arm, Bala Viswanathan, its chief operating officer when the acquisition of JLT by its parent company MMC completes. 

California fires 900px

AIR pegs Camp Wildfire insured losses at $6bn - $9bn

2018-12-06T15:48:00+00:00

Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between $6bn and $9bn.

Average-combined-ratio-for-selected-European-insurers-i

European P&C insurers face deteriorating CR in 2019

2018-12-06T12:30:00+00:00

European Property & Casualty insurers will likely experience a modest deterioration in combined ratios and investment returns in 2019.

city of london

P&C market must transform digitally to offset “sluggish” growth: EY

2018-12-06T12:25:00+00:00

Property & Casualty insurers must focus on technology and innovative initiatives that optimize costs, drive wider distribution and market reach and explore local niche market segments in order to spur growth, EY has said.

Brian Duperreault AIG

AIG to be hit with up to $800mn cat bill in Q4

2018-12-06T08:32:00+00:00

US insurance giant AIG has said it expects to incur a cat bill in the region of $750mn to $800mn on a pre-tax basis in the fourth quarter.

Cali wildfire

Beazley on the hook for $40mn Cali wildfire losses

2018-12-06T08:04:00+00:00

London insurer Beazley has pegged its loss bill for the 2018 California wildfires at $40mn net of reinsurance.

Brexit

CNA Hardy’s post-Brexit structure approved

2018-12-05T17:18:00+00:00

CNA Hardy is the latest carrier this week to be given the green light for its Part VII transfer by the High Court of England and Wales.

Dan-Glaser

JLT notifies staff of £100mn retention awards ahead of new global structure

2018-12-05T16:48:00+00:00

As the post-takeover operating structure of MMC and JLT begins to take shape, JLT’s qualifying staff have been notified of their entitlements under the £100mn retention bonus scheme that was announced as part of the £4.3bn acquisition.

California fires 900px

The Hartford pegs Q4 losses at up to $365mn

2018-12-05T15:27:00+00:00

US insurer The Hartford has said it expects to pick up a loss bill of up to $365mn in the fourth quarter.

london city skyline

GRP sees gross written premium climb 27% to £700mn

2018-12-05T14:47:00+00:00

Specialist insurance consolidator Global Risk Partners has seen gross written premium exceed £700mn, up 27 percent on 2016/17 as the Peter Cullum led firm builds on ambitions to be a £1bn GWP business.

Asia, Singapore

AIG swoops on MetLife Japan for Asia Pacific CEO

2018-12-05T08:43:00+00:00

AIG has appointed Sachin Shah CEO of Asia Pacific, AIG General Insurance.

Am trust financial home hero photo rev

Wave of senior departures at AmTrust as go-private deal completes

2018-12-05T08:36:00+00:00

There has been a trio of high-profile exits at AmTrust in the wake of the completion of its $2.95bn take-private deal with Stone Point Capital last week.

Mark-Lyons

AIG promotes Lyons to CFO replacing Sankaran

2018-12-05T08:08:00+00:00

AIG has promoted Mark Lyons to the role of executive vice president and chief financial officer.

Trisura-log

Beasley takes reins as Trisura Specialty heads to $100mn GWP

2018-12-04T17:29:00+00:00

US hybrid fronting carrier Trisura Specialty has named seasoned insurance executive Michael Beasley as its president and CEO as part of a management reshuffle, The Insurer can reveal.

Denis-Kessler-scor

Scor rewarded for traditional early 2019 retro renewal

2018-12-04T17:05:00+00:00

Tier one global reinsurer Scor has been rewarded for its traditional early renewal of its annual P&C retro program by renewing its core XoL coverage before the November California wildfires and benefiting from a more favorable pricing environment, The Insurer can reveal.