WR Berkley shares set to trade up following Q4 earnings beat
WR Berkley shares are expected to trade up today on the back of management optimism about growth and core margin improvement in 2021, according to KBW.
Is the spectre of US casualty reserve deficiencies set to loom over 2021?
Everest Re’s surprise $400mn casualty-focused reinsurance reserves charge, announced after markets closed last night, raises questions as to whether another wave of liability reserve strengthening may be set to follow in 2021.
The E&S pull
After a number of start-ups and scale-ups were unveiled in 2020, Upland Capital Group has emerged as the first of a potential Class of 2021 to target the fast-hardening US excess and surplus lines market as investors and industry figures continue to be drawn to the sector.
US agent/broker M&A goes into overdrive in Q4
A frenzy of US broker M&A transactions took place in the fourth quarter as acquirers fully recovered from a Covid-19-induced slump and fears over capital gains tax changes brought deals forward.
Markets Review: CinFin sheds 6.8% as P&C equities dip on virus concerns
The majority of US P&C stocks closed lower last week as wider market confidence dipped after President Biden warned the US economic crisis was deepening and fuelled concerns that a hotly anticipated recovery package may be pared down in order to pass through Congress.
Messy Q4 earnings expected but focus will be on 2021 outlook
As the Q4 earnings season for the US publicly traded P&C sector gets under way this week with Travelers and Truist, a potentially noisy quarter for carriers is expected as they update on Covid-19 reserves and elevated cat activity.
US agent/broker M&A goes into overdrive in Q4
A frenzy of US broker M&A transactions took place in the fourth quarter as acquirers fully recovered from a Covid-19-induced slump and fears over capital gains tax changes brought deals forward.
US insurance broker M&A deal volume up 4.3% in 2020: MarshBerry
Despite Covid-19 bringing deal activity to a standstill for two months, the US brokerage mergers and acquisitions (M&A) deal count in 2020 was higher than in the previous year, according to MarshBerry.
2021 poised to be the year of the (re)insurance SPAC
The final weeks of 2020 saw a flurry of formations of new (re)insurance-focused special purpose acquisition companies (SPACs), which means the so-called blank check (cheque) shell corporations look set to play an even more prominent role in the sector next year, according to analysis by The Insurer.
Catalyst for more broker consolidation?
The creation of a top 30 US broker is of course newsworthy in its own right, but the merger of Oswald Companies and RCM&D could also point to a further consolidation play within the global network of intermediaries they are both members of.
Euclid Transactional adds Luckett to London team
M&A-focused MGA Euclid Transactional has added to its EMEA-focused team with the hire of Dave Luckett, formerly of Ironshore.
Applied UW launches EU financial lines unit with StarStone renewal rights deal
Expansive insurance group Applied Underwriters has formed Applied Financial Lines, which will begin by underwriting a $45mn Europe and Middle East renewal book acquired from StarStone as a platform for a broader expansion into specialty insurance business in the region, The Insurer can reveal.
White Mountains’ head of M&A to step down
White Mountains Insurance Group said Frank Bazos, the executive vice president and head of M&A of its White Mountains Capital (WMC) unit, will step down from the role on 1 March next year and become a senior advisor of WMC.