Trisura eyes US surety growth as T-listing acquisition nears closeTrisura’s previously announced “table stakes” deal to acquire a Treasury-listed company is nearing completion as the business continues on its path of building out a US surety platform similar in scale to its established Canadian operation.
Brokers led gains across US insurance stocks last weekThe North American insurance benchmark compiled by investment banks Stonybrook and Weild & Co rose 1.6 percent last week as the positive performance of brokers’ shares – which made a comeback after two weeks in the red – contrasted with the underperformance of reinsurers and specialty commercial insurers.
Gallagher Re names Ward head of production for NA programsGallagher Re has promoted Justin Ward to head of production for North America programs business with immediate effect.
Trisura increases Q4 US insurance revenue 25% to C$527.6mnSpecialty insurance provider Trisura has reported a slight increase in operating net income in the fourth quarter, while US fronting revenue increased 24.6 percent for the quarter and 41.5 percent for the full year.
Axa XL promotes Johnson to head of E&S general liability for the AmericasAxa XL has promoted Laura Johnson, formerly the head of E&S primary casualty, to head of E&S general liability for the Americas.
Life insurers and brokers drag North American insurance composite into negative territoryThe insurance composite compiled by investment banks Stonybrook and Weild & Co faltered last week, ending a run of uninterrupted weekly rises since the start of the year as it trailed all major Wall Street indices.
Gallagher Re NA chair Wafer to retire as Bradshaw steps inGallagher Re is executing succession plans for its North America management team, with regional CEO Jim Bradshaw set to add the chair role and incumbent Tom Wafer on course to retire later this year, The Insurer can reveal.
Chubb hands Gillston NA industry practices role following Hazelton exitChubb has appointed Seth Gillston as executive vice president, head of North America industry practices, replacing Bill Hazelton, who recently left the company to join Everest.
Axa XL confirms Chia's appointment to Americas cyber CUOAxa XL has confirmed the hire of Michelle Chia as chief underwriting officer for cyber in the Americas.
Probitas continues geographical build-out with Canada launchLloyd’s insurer Probitas is to set up a service company in Toronto, Canada under the leadership of Robbin Botnick, in a move the Ash Bathia-led firm said continues its expansion into target geographies.
US insurance composite outperforms Wall Street with 2% riseThe North American insurance composite compiled by Stonybrook Capital and Weild & Co beat all four major Wall Street indices last week, with nine of the 11 industry groups advancing.
WTW launches new cyber insurance solution for SMEsWTW has developed a new specialised cyber insurance solution targeted at North America-based SMEs that generate revenues below $50mn.
Progressive overtakes MMC and Chubb to become first $100bn+ insurance stockProgressive impressed investors with strong fourth quarter results this week as it continued its outperformance in an auto space that has been seriously challenged in recent years, and their response has driven the US personal lines giant’s market cap past $100bn.
QBE Re promotes Lupkin to NA health practice head after Coghlan exitQBE Re has named Amanda Lupkin as the new head of its North America health practice following Michael Coghlan’s move to HM Insurance Group earlier this year.
Gallagher Re adds to A&H platform with MGB Re dealGallagher Re has strengthened its capabilities in the accident and health reinsurance space after acquiring Toronto-based MGB Re.
Brokers and personal lines led gains among US insurance stocks last weekThe North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 0.6 percent last week, trailing the Nasdaq-100 and S&P 500 but beating the Dow Jones Industrial Average and Russell 2000.
GC hires Keith Wolfe as chief commercial officer, North AmericaGuy Carpenter has hired former Swiss Re US P&C president Keith Wolfe to the newly created role of chief commercial officer for North America.
Intact facing C$200mn cat hit in Q4 driven by UK stormsIntact Financial Corporation took an estimated C$200mn ($149.4mn) hit from catastrophe losses in Q4 2023, with the bulk coming from Storms Ciarán and Babet which tore across the UK in October.
CatIQ: Canada faced fourth-worst nat cat insured loss year in 2023The C$3.1bn ($2.3bn) of natural catastrophe insured losses that Canada faced in 2023 made last year the fourth-worst on record after the country’s carriers were hit hard by wildfires, flooding and severe storms, according to figures from Perils’ subsidiary CatIQ.
Blink Parametric inks three-year Blue Cross extensionIrish insurtech Blink Parametric has inked a further three-year deal with Canadian insurance provider Blue Cross.