Global run-off market valued at $730bn: PwCThe size of the global run-off market has hit $730bn with North America responsible for almost half of that total, a new survey has revealed.
Reinsurers face further test at Spring renewals: Guy CarpThe reinsurance market will face another test in the Spring when programs worst hit by last year’s catastrophes renew, Guy Carpenter has said.
Nexus preps for sale by hiring ex-AmTrust CUOLondon-based specialty MGA Nexus has revealed plans to sell a portion of its equity as it announced that former chief underwriting officer for AmTrust’s Lloyd’s operation had joined to run its insurance and reinsurance operations.
AmWins boss DeCarlo to step downAmWins CEO Steven DeCarlo is set to exit his role in May to be replaced at the helm by the wholesale broking giant’s current chief operating officer (COO) Scott Purviance.
Axis: 4Q California fires to cost $92mnAxis Capital has said today (17 January) that catastrophe losses from the fourth quarter are likely to cost the firm $130mn.
Canopius adds US professional lines execCanopius has added to its US management and professional lines team with the appointment of William Kelly as senior vice president.
JLT Re hires Aon Benfield’s Fox as Asia-Pac chiefBroker JLT Re has named Jeremy Fox as its new CEO for the Asia Pacific region, replacing outgoing head Stuart Beatty.
R&Q’s share price leaps after £20mn disposal; 130 employees affectedLondon-listed Randall & Quilter (R&Q) saw its share price climb to a 3+ year high after announcing another milestone in its strategy of simplifying its business operations.
Beazley shares climb as it predicts expectation-beating resultsBeazley looks set to report a relatively-sterling set of results for the full year 2017 after the London market carrier this morning announced it will post a 99 per cent combined ratio for the period and pre-tax profits “ahead of current market expectations.”
Q3 Loss knock-on impact shrinking aviation market capacity: JLTThe global aviation market has witnessed a contraction in capacity in the last quarter of 2017 with some underwriters reducing their exposures and declining new risk, according to JLT.
AIR pegs Storm Eleanor losses up to €1.6bnCatastrophe modelling firm AIR has estimated that insured losses from Storm Eleanor will be between €1.1bn and €1.6bn ($1.3bn-$1.9bn).
Swiss Re CFO to step down, Group Chief Strategy Officer will take over roleDavid Cole is to step down from Swiss Re from his role of Group Chief Financial Officer at the end of March 2018.
Qatar Re seals regulatory approval for UK branchUK regulators have given the green light for Qatar Re to begin operations out of its newly-minted London branch.
XL’s fourth quarter cat losses creep to $315mnXL Group’s net catastrophe loss estimate for the fourth quarter has climbed by $65mn to $315mn in the wake of the wildfires in southern California and other disasters.
ILS fund AlphaCat raises $714mnAssets under management (AuM) at Validus Holdings’ ILS fund manager AlphaCat have climbed to a new record of $3.4bn after raising $714.2mn from investors after the 2017 H2 losses.
PRA launches consultation to reduce insurers’ Solvency II burdenThe Prudential Regulation Authority (PRA) has launched a consultation proposing a number of changes to the way insurers report to ‘reduce the burden for Solvency II firms and mutuals’.
Hyperion earnings climb by almost a quarter to £152mnHyperion, which owns Howden, RKH and Dual, saw profits climb by 24 percent to £152mn ($205.4mn) in the 12 months leading up to the end of September last year.
AmTrust shares jump 27% on privatisation moveAmTrust’s stock has surged over 27 percent to $12.86 in early trading in New York this morning after it was revealed that the insurer’s founding family and minority shareholder was looking to take the company private.
Lucy Clarke named Global CEO of JLT SpecialtyJLT has appointed Lucy Clarke as Global CEO of JLT Specialty. The remit of this new role covers all of JLT’s business activities with the exception of reinsurance broking and employee benefits.
AmTrust CEO looks to take company private in $1.37bn dealAmTrust’s founding family has tabled a $1.37bn a deal to take the US insurer private in conjunction with the firm’s chairman and CEO Barry Zyskind as well as private equity house Stone Point Capital Partners.