Port Neches refinery explosion

Downstream market facing $500mn Port Neches refinery loss

2019-12-05T16:11:00+00:00

The beleaguered downstream energy market is facing the prospect of a $500mn loss in relation to a large fire at TPC Group’s petrochemical plant in Port Neches, Texas, The Insurer can reveal.

Casualty collage

Holes appearing in casualty towers as double-digit hikes forecast into 2020

2019-11-18T16:42:00+00:00

The state of the casualty market continues to be a dominant theme in the US P&C industry, as carriers take drastic action in response to mounting losses.

HanoverInsuranceGroup

The Hanover uses Chaucer funds for $250mn accelerated buyback and special dividend

2019-12-06T02:07:00+00:00

US carrier The Hanover Insurance Group is buying back $150mn of its stock in an accelerated share repurchase agreement (ASR) and has also declared a $100mn special dividend as it competes the deployment of the $850mn funds generated from its sale of Lloyd’s insurer Chaucer last year.

Guy Carpenter and Lockton

Guy Carpenter says close to resolving dispute with Lockton Re defectors

2019-12-05T19:01:00+00:00

Guy Carpenter is close to resolving its dispute with three executives that left to launch the Lockton Global Re platform, according to a letter filed with the court yesterday (4 December).

Gallagher

Gallagher names Partington CEO of Canadian retail P&C broking

2019-12-05T21:41:00+00:00

Gallagher has appointed Dave Partington chief executive of its expansive Canadian retail property and casualty broking operations, replacing Steven Bryant who has left the company.

PG&E wildfire

PG&E edges towards $13.5bn deal with wildfire victims: reports

2019-12-05T11:05:00+00:00

California utility firm Pacific Gas & Electric Company (PG&E) is reportedly close to finalising terms for a $13.5bn payout to victims of wildfires ignited by its power lines, just weeks after the utility agreed a deal to settle all insurance subrogation claims arising from the 2017 Northern California wildfires and ...

Lloyd's building

Pioneer becomes fourth full syndicate to close since Hancock warning

2019-11-14T19:27:00+00:00

Pioneer Syndicate 1980 has become the fourth full syndicate to close following a Lloyd’s market meeting in May 2018 when the Society’s head of underwriting Jon Hancock launched remedial action to turn around the performance of the market and warned that a tougher regime would lead to syndicate closures.

Mark Watson and Ed Noonan

Argo: Just a coincidence?

2019-11-06T16:40:00+00:00

The timing of the Watson and Noonan departures may not have any significance but the Argo vacancy could be attractive for a seasoned executive looking for a platform in a fast-improving market dynamic…

Stampede

IGI should be applauded as it runs towards the stampede

2019-10-11T16:27:00+01:00

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.

Peter Blanc – Aston lark

Aston Lark acquires Wright Insurance Brokers

2019-12-05T14:29:00+00:00

Goldman Sachs-backed Aston Lark has acquired Irish commercial broker Wright Insurance Brokers.

Mark Watson and Ed Noonan

Argo: Just a coincidence?

2019-11-06T16:40:00+00:00

The timing of the Watson and Noonan departures may not have any significance but the Argo vacancy could be attractive for a seasoned executive looking for a platform in a fast-improving market dynamic…

Henry Glasse – Starstone

Vibe specialty head Glasse departs for StarStone

2019-12-04T12:59:00+00:00

StarStone has appointed former Vibe Syndicate Management’s specialty risk solutions class underwriter Henry Glasse as specialty underwriter, The Insurer can reveal.

Pat Gallagher

Gallagher acquires Brown & Brown Pacific Northwest marine unit

2019-12-04T09:36:00+00:00

Arthur J Gallagher has completed a deal to hire the Pacific Northwest marine broking team and book of business of Washington-based Brown & Brown.

Barbican – Lloyd's

Barbican’s Reeves, Harrington and Godfray set to leave as Arch deal completes

2019-12-02T19:30:00+00:00

Three members of Barbican’s senior management team – chief executive David Reeves, chief underwriting officer Mark Harrington and chief operating officer Jon Godfray – are to leave the carrier in the wake of its takeover by Arch, The Insurer understands.