Coronavirus

WR Berkley’s $145mn Q2 cat loss estimate includes $85mn Covid hit

2020-07-10T21:10:00+01:00

WR Berkley expects to take an $85mn pre-tax hit from Covid-19 related losses in its second quarter results, with the specialty insurer estimating a further $60mn knock from civil unrest and severe weather events during the period.

Lloyd's

Lloyd’s focuses on core US reinsurance and E&S as it gives up admitted licenses

2020-07-10T09:24:00+01:00

Lloyd’s is giving up its admitted licenses in Kentucky, Illinois and the US Virgin Islands (USVI) as it strengthens its focus on the US reinsurance and excess and surplus lines (E&S) markets from which it derives the vast majority of its premium volume in the world’s largest insurance market.

Goldilocks bowls

Chubb adds heavyweight voice to US pandemic backstop debate

2020-07-10T18:21:00+01:00

Chubb’s release of its proposal for protecting against future pandemics could serve to restore momentum to an issue that appeared to have stalled, providing a middle ground between the two proposals already out there.

Allstate and National General Insurance

Allstate to reverse independent agent business into NatGen to create top 5 player

2020-07-08T19:46:00+01:00

Allstate’s proposed $4.0bn acquisition of National General will see it reverse merge its independent agent business including Encompass into the personal lines specialist to create a top five player in the $125bn premium segment.

Florida

Florida opportunity draws interest

2020-07-06T12:13:00+01:00

The well-documented woes of the Florida homeowners market might not paint a picture of a burgeoning opportunity for new entrants, but a number of recent developments point to fresh interest in the Sunshine State.

New York boarded up shop front

Striking out…

2020-07-02T13:51:00+01:00

Insurers risk further damage to the industry’s reputation if they impose blanket SRCC exclusions on standard property policies.

Allstate and National General Insurance

Allstate to reverse independent agent business into NatGen to create top 5 player

2020-07-08T19:46:00+01:00

Allstate’s proposed $4.0bn acquisition of National General will see it reverse merge its independent agent business including Encompass into the personal lines specialist to create a top five player in the $125bn premium segment.

II-Brazil-Allianz-SulAmerica

Allianz takes top three Brazil P&C position after completing SulAmérica deal

2020-07-10T23:02:00+01:00

Allianz has strengthened its position in Brazil’s property and casualty (P&C) insurance market after completing its previously announced acquisition of certain SulAmérica operations in the country.

II-CBIZ

CBIZ picks up Virginia agency Prince-Wood Insurance

2020-07-10T00:55:00+01:00

CBIZ has acquired substantially all of the assets of Prince-Wood Insurance (PWI), an agency based in Woodbridge, Virginia.

Assured Partners logo

AssuredPartners buys New York-based ENV

2020-07-10T00:54:00+01:00

AssuredPartners has acquired ENV Property & Casualty, which is based in Liverpool, New York.

Alistair Hardie – Jensten

Jensten Group replaces CEO Darling with Cega’s Hardie

2020-07-07T12:49:00+01:00

PE-backed Jensten Group – formally Coversure Insurance Services – has appointed Cega Group chief executive Alistair Hardie to replace Bob Darling as CEO.