Markel didn’t invest in CatCo’s $2.3bn+ “reload”
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.
Markel CatCo shares fall to all-time low following regulatory investigation revelation
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.
Markel CatCo under investigation by US/Bermuda authorities
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.
AIR pegs Camp Wildfire insured losses at $6bn - $9bn
Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from the Camp Fire in Northern California will be between $6bn and $9bn.
Majority of $10bn+ wildfire damage to be covered by insurance: Aon
The majority of the losses stemming from the wildfires that ravaged parts of California last month will be insured, according to Aon.
European P&C insurers face deteriorating CR in 2019
European Property & Casualty insurers will likely experience a modest deterioration in combined ratios and investment returns in 2019.
Enstar completes $200mn AmTrust investment
Bermudian legacy-to-live carrier Enstar has completed its $200mn investment in Evergreen.
Gallagher snaps up aviation broker Boston Marks
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.
JLT notifies staff of £100mn retention awards ahead of new global structure
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.
Allianz shares dip as CEO eyes M&A
Shares in European Insurance heavyweight Allianz dipped today as investors contemplated an increased chance of a large-scale M&A deal.
M&A hungry Allianz extends CEO’s contract by five years
Oliver Bäte, the CEO of Europe’s second largest insurer Allianz, has had his contract extended by a further five years.
Q&A: Jean-Paul Conoscente, CEO of reinsurance at Scor Global P&C
Jean-Paul Conoscente, CEO of reinsurance at Scor Global P&C on independence, M&A and his advice for the new CEO of Lloyd’s John Neal