Frankland hails Hancock reforms but criticises expense burdenAon’s UK reinsurance head has praised the actions of Lloyd’s performance director Jon Hancock in tackling the markets poor performers as an “essential” first step to forcing down the Lloyd’s expense ratio “burden”.
Dale Syndicate 2525 bucks Lime Street trend with expansion planDespite Lloyd’s strong-arming top line reductions for the majority of trading syndicates next year, the Dale Syndicate 2525 is aiming to increase its stamp capacity by 7.5 percent.
Aon’s Andersen: Retiring the Benfield brand a ‘natural next step’The newly-anointed co-president of Aon, Eric Andersen, has said the firm’s decision to retire the Aon Benfield and Aon Risk Solutions brands was the “natural next step” in its evolution as a global professional services firm.
$5bn-$6bn Typhoon Jebi to hit reinsurance treatiesTyphoon Jebi, which pounded Japan last week, is the largest cat loss of 2018 to date with early unofficial estimates of an insured loss of $5bn-$6bn.
Scor’s Kessler backs Lloyd’s CEO pick and dismisses M&A talkThe CEO of French reinsurance giant Denis Kessler has applauded Lloyd’s of London for its choice of John Neal as the next CEO as he fended of M&A speculation.
Florence upgraded to Hurricane as chance of US landfall growsTyphoon Florence is now expected to develop into a major hurricane as it nears the US East coast, with impacts including damaging winds, storm surge, heavy ocean swell, and rainfall.
‘Scor doesn’t need to merge’: KesslerScor’s CEO Denis Kessler has shrugged off speculation the French reinsurance powerhouse would enter into any M&A talks in the wake of an unsolicited EUR8.3bn takeover offer from Covea.
Aon launches capital advisory team to strengthen insurer revenuesAon has launched a capital advisory unit within its Reinsurance Solutions division to help (re)insurers, Lloyd’s syndicates and captives ‘fine tune’ their balance sheet and boost capital optimisation.
No slow down of M&A expected: Willis Re’s KentThe pace of M&A in the industry is not expected to slow down any time soon, James Kent the global CEO of Willis Re has predicted.
Conflict between insurers and reinsurers intensifyingReinsurers continuing to move into the primary markets is prompting growing tensions between them and insurers, the chairman of Willis Re International James Vickers has warned.
Introducing the new man on the Lloyd’s stageJohn Neal is clearly a man who relishes a challenge. Not content with a bruising five years at the helm of QBE, a tenure which included four profits warnings and some unwelcome attention on his private life, last week he accepted what Re-Insurance believes is arguably the toughest job in the industry. He will become CEO of the Lloyd’s Corporation and the man tasked with leading a turnaround in the market’s fortunes.
Antares and Qatar Re in talks to combine 2019 reinsurance spendLloyd’s insurer Antares and its sister firm Qatar Re are mulling both the integration of their back office capabilities and combining their reinsurance buying in the next chapter of a 2018 efficiency drive at the group.
Aon heads 2017 reinsurance broker league tableAon’s reinsurance arm remains the largest reinsurance intermediary by some distance in a survey conducted by re-Insurance that uses a combination of publicly available information and market intelligence.
Antares and Qatar Re mull reinsurance merge as integration continuesQIC-owned sister (re)insurers Antares and Qatar Re are mulling both the integration of their back office capabilities and combining their reinsurance buying in the next chapter of a 2018 efficiency drive at the group.
Guy Carpenter launches InsurTech advisory arm GC GenesisGuy Carpenter has launched a new advisory arm, GC Genesis, designed to guide (re)insurers through the 2000+ InsurTech start-ups and linking them to those best suited to their business needs.
O’Kane acknowledges likely Aspen exit after $2.6bn Apollo dealAspen Insurance Holdings CEO Chris O’Kane has acknowledged there will likely be senior management changes at the Bermudian firm once the agreed $2.6bn buy-out by investment heavyweight Apollo Global Management closes next year.
Accredited at front of R&Q Brexit strategyR&Q’s rebranded program underwriting division is at the heart of the firm’s “gold-plated” Brexit solution for (re)insurers and MGAs apprehensive about turmoil next year when the UK is scheduled to leave the EU, the company’s founding chairman and CEO Ken Randall has told Re-Insurance.
O’Kane acknowledges likely Aspen exitAspen Insurance Holdings CEO Chris O’Kane has acknowledged there will likely be senior management changes at the Bermudian firm once the agreed $2.6bn buy-out by investment heavyweight Apollo Global Management closes next year.
Axa’s legacy arm acquires Sovag’s German run-off businessSpecialist run-off manager, Axa Liabilities Managers has bought the run-off portfolio of Hamburg-based reinsurance company Schwarzmeer Und Ostsee Versicherungs-AG - also known as Sovag.
Nexus snaps up Altitude Risk Partners from CastelLondon-based managing general agent Nexus Group has acquired aerospace MGA Altitude Risk Partners from Castel Underwriting Agencies for an undisclosed sum.