Former Axa XL Canada CEO Uhlmann joins Aviva GCSAxa XL’s former CEO and chief agent in Canada Urs Uhlmann has joined Aviva Canada as managing director of its Global, Corporate & Specialty (GCS) operation.
UFG chairman Evans to retire in MayThe long-serving chairman of United Fire Group (UFG), Jack Evans, will retire from the role immediately after the US insurer’s annual shareholders meeting in May, the company has confirmed.
Kemper P&C profit improvements offset L&H decrease while earnings beatKemper ended Q4 2020 with an 8 percent increase in adjusted net operating income after improvements at its two property and casualty (P&C) units offset a downturn at its life and health business, with the result on a per diluted share basis also beating analysts’ average estimate.
Hub promotes Chapman into national executive roleHub International has named Michael Chapman national director of commercial markets, a newly-created role which the executive will assume in addition to his existing responsibilities as president of the broker’s south region.
AGCS promotes Tagert to environmental practice group leaderAllianz Global Corporate & Specialty (AGCS) has promoted Steve Tagert to regional environmental practice group leader in North America.
QBE centralises reinsurance business under Postlewhite’s leadership in LondonAustralian carrier QBE is restructuring its reinsurance operations in response to improved market conditions in a move that will see its North American reinsurance business managed in London.
Old Republic beats Q4 Street estimates as underwriting income soarsOld Republic comfortably beat Wall Street’s estimates during the final quarter of 2020 with both the company’s general and title insurance units posting significant underwriting profit increases.
Gallagher readies for “very active” M&A drive in 2021Arthur J Gallagher already has 30 M&A term sheets either signed or being prepared representing some $300mn of estimated annualised revenue as the expansive broker prepares for what chairman, president and CEO Pat Gallagher said will be “a very active 2021” for deals.
AJG improves brokerage Ebitdac while organic growth reaches 3.1%Arthur J Gallagher’s brokerage adjusted Ebitdac margin increased by 5.8 percentage points in 2020’s fourth quarter with the broker seeing brokerage organic growth of 3.1 percent during the three month stretch.
NFP strengthens NE US presence with AD Martin dealNFP has acquired the P&C brokerage client accounts of AD Martin Commercial Insurance Services in a move that the expansive broker said presents new growth opportunities in the Northeast US and also strengthens its presence in New Jersey.
Cyber insurtech MGA Coalition adds new hires in drive for growthCyber MGA Coalition has added four new production underwriters to its roster as the insurtech hunts for further growth in the middle market sector.
Trade bodies push back against new WA retroactive BI billIndustry trade bodies have hit back at Washington lawmakers over a newly introduced bill that would assist small businesses looking to recover Covid-19 related losses under business interruption (BI) coverages.
Berkley Re Solutions launches 100% reinsured turn-key workplace violence offeringBerkley Re Solutions has developed a new turn-key solution through which it will offer up to 100 percent reinsurance protection for an innovative coverage designed to help insurers and their clients respond to workplace violence events.
American Financial sells annuity business to MassMutual for $3.5bnAmerican Financial Group (AFG) has agreed a deal to sell its annuity business to MassMutual for $3.5bn in a transaction that is expected to result in an after-tax gain of up to $690mn and will seal its exit from the fixed and indexed annuity market.
RLI beats and ups underwriting income despite cat hit Q4RLI’s 2020 fourth quarter operating earnings per share of $0.75 comfortably beat analysts’ average estimate, with the US specialty insurer also reporting improved underwriting income despite the impact of an active catastrophe season.
Texas sees record surplus lines premium in 2020There was further evidence of the burgeoning E&S market as the Surplus Lines Stamping Office of Texas (SLTX) reported record premium volume of $7.92bn in 2020, up 14 percent on the previous year.
Zurich makes raft of US middle market leadership appointmentsZurich North America has built out its US middle market leadership team with several appointments to its underwriting and industry practices units, as well as interim appointments to the underwriting leadership team in the South region.
Deposit insurtech Rhino raises $95mn, considering IPO: reportsDeposit insurance start-up Rhino has seen its valuation soar to $500mn after it completed a $95mn capital raise in an investment round led by Tiger Global Management, with a Bloomberg report indicating the platform is now eyeing an IPO.
WR Berkley management optimistic after Q4 earnings beatWR 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.
Allstate agrees to sell bulk of life business to Blackstone for $2.8bnAllstate has agreed to sell Allstate Life Insurance Company (ALIC) to various Blackstone-managed entities for $2.8bn in a move which allows the US insurance giant to further focus on growing its personal property-liability market share.