Marsh’s Doyle warns of pricing “domino effect” from Tripra non-renewal
At a US House Financial Services hearing, Marsh president and CEO John Doyle has urged reauthorisation of the federal terrorism risk insurance programme and warned that insurance availability will fall as the deadline looms.
US habitational casualty rates surge after carrier exits
Rates for habitational coverage for insureds with worse-than-average loss records are at least 30 percent to 50 percent higher for general liability and sometimes doubling on excess layers, according to wholesale broker CRC.
Tokio Marine pays up for Pure growth trajectory and fee-based income
Tokio Marine’s agreed $3.1bn acquisition of high net worth (HNW) specialist Pure expands the Japanese giant’s US specialty primary insurance business and taps into stable fee-based income in a fast-growing marketplace.
Swiss Re dips but Europe’s reinsurers hold firm as Dorian approaches
Shares in the “big four” European reinsurers — Munich Re, Swiss Re, Hannover Re, and Scor — broadly held firm on Friday, despite current projections that Hurricane Dorian is set to make landfall in Florida as a potential cat four hurricane late this weekend.
EPIC confirms Prime Risk Partners deal
Prime Risk Partners (PRP) will become part of Oak Hill Partners-backed EPIC holdings in a transaction first mooted by The Insurer earlier this month.
UPC reveals $61mn hit from Q3 cats and loss creep
United Insurance Holdings (UPC Insurance) has announced it expects to incur $46mn pre-tax of net retained catastrophe losses for the third quarter, as well as $15mn pre-tex of adverse development.
IGI should be applauded as it runs towards the stampede
In his autobiography “My life and hard times”, the creator of Walter Mitty, James Thurber, writes of a fine day in Spring 1913 when his town of Columbus, Ohio was temporarily gripped with insanity.
Tokio Marine pays up for Pure growth trajectory and fee-based income
Tokio Marine’s agreed $3.1bn acquisition of high net worth (HNW) specialist Pure expands the Japanese giant’s US specialty primary insurance business and taps into stable fee-based income in a fast-growing marketplace.
Where next for (re)insurance M&A?
In the first half of 2019, M&A in the global (re)insurance industry hit its highest level for four years. Activity was up in most regions, driven by a surge of deals in Europe that had previously been put on hold due to Brexit preparations, strong economic fundamentals in the US ...
EPIC confirms Prime Risk Partners deal
Prime Risk Partners (PRP) will become part of Oak Hill Partners-backed EPIC holdings in a transaction first mooted by The Insurer earlier this month.
Risk Strategies wholesale rebrands and adds senior broking execs
Risk Strategies has rebranded its Matt Power-led wholesale business as One80 Intermediaries and added a number of senior executives to the platform, including Donovan Nowell and Brad Keller as financial lines and property practice leaders, The Insurer can reveal.