Euler Hermes names Farrell MD of Americas XoLTrade credit specialist Euler Hermes has appointed Peter Farrell managing director of excess of loss (XoL) for the Americas region.
IFG names new primary property headUS insurer IFG Companies has promoted Marshal Biles to vice president and head of primary property.
SCE agrees $2.2bn Woolsey Fire insurance subrogation dealSouthern California Edison (SCE) has brought an end to all insurance subrogation claims from 2018’s Woolsey Fire after the utility agreed a $2.2bn deal with plaintiffs.
Broking insurtech Newfront adds Lem to EB unitTechnology-focussed broker Newfront Insurance has added Stacey Lem from Willis Towers Watson as managing account executive for its employee benefits unit.
Flexpoint Ford-backed Propel hires Hub’s Fusaro as CFOPropel Insurance has named Angelo Fusaro as chief financial officer, with the former Hub International executive replacing the retiring Pete Hendrick in the role.
HCI completes deal for UPC Northeast personal lines renewal rightsHCI Group’s US expansion bid has taken a major step forward after the company completed the previously announced acquisition of the renewal rights to UPC Insurance’s personal lines business in four northeast US states.
Blackstone Insurance Services hires Morgan Stanley veteran HoveyInvestment manager Blackstone has hired Morgan Stanley’s long-serving Michael Hovey to lead acquisitions and strategic partnerships for its Insurance Solutions business.
AM Best stays negative on Hallmark Financial as it awaits spin-off plan detailsAM Best has retained its negative outlook on the ratings of Hallmark Financial as it awaits more details from the company about a potential spin-off of its specialty commercial business and the impact that would have on its capital structure and credit quality.
Global Indemnity searching for new CEO as Valko steps downGlobal Indemnity has begun the search for a new CEO after Cynthia Valko announced her intention to retire from the company at the end of this month.
Louisiana Citizens cedes $62mn to reinsurers in record 2020 storm seasonState-backed Louisiana Citizens Property Insurance Corp will pass on $62mn in claims to its reinsurers from the record-breaking 2020 US hurricane season, the state’s insurance commissioner has confirmed.
Canada nat cat insured losses rise to C$2.4bn in 2020Last year ranked as the fourth costliest natural catastrophe year on record for Canadian insurers, with the Insurance Bureau of Canada recording C$2.4bn ($1.9bn) of losses during 2020.
Anand resigns from Hallmark as chairman Schwarz takes reinsHallmark Financial Services president and CEO Naveen Anand has resigned from the position citing family and personal reasons with the roles taken over by executive chairman Mark Schwarz, who controls funds that are collectively the largest shareholders in the US specialty insurer.
Axis says it will not insure new Arctic Refuge oil and gas projectsAxis Capital has become the latest carrier to make a commitment to not underwrite new insurance or facultative reinsurance contracts for oil and gas projects in the Arctic National Wildlife Refuge or provide them with investment support.
Why hurricane risk modelling has to changeFollowing another active season, Martin Bertogg, head of cat perils and cyber at Swiss Re Institute, questions whether the way the industry models hurricane risk needs to evolve.
NFP buys Canadian HNW broker EdgeHillNFP has announced another acquisition of a Canadian broker, with a deal for Ontario-based EdgeHill Insurance Brokers.
Hiscox USA appoints Spunberg head of strategy and business transformationHiscox has promoted Bert Spunberg to the newly created role of head of strategy and business transformation in the US.
Higginbotham makes move into Colorado with Six & Geving acquisitionExpansive Texas-based intermediary Higginbotham has continued on its path of expansion and made its first move into Colorado with the acquisition of Six & Geving Insurance.
HCI’s TypTap continues national expansion drive with Nevada sign-offHCI Group’s insurtech TypTap has continued its national expansion after receiving approval to begin writing homeowners insurance in Nevada.
Axa XL hires CNA’s Musser to lead central US zone marine unitAxa XL has hired Brett Musser from CNA as central US zonal marine product leader with the new arrival also appointed marine liabilities product manager.
CRC promotes Brown to lead southwest transportation binding businessSpecialty wholesaler CRC Group has promoted Stewart Brown to regional director for the company’s transportation binding offering, with the executive now overseeing the southwest US including both Texas and California.