The trading statement released by Hastings Insurance on Friday 17 January, warning of a reduced full-year dividend and worse-than-expected Q4 claims inflation in its core UK market, was not scheduled - but nor was it entirely unexpected.
Just days after potentially positive news on loss picks for typhoons Hagibis and Jebi, the market received confirmation of further significant creep from Hurricane Irma.
Environmental concerns are beginning to dominate businesses’ thoughts, as two widely-read surveys showed this week.
Lloyd’s has had three underwriting tsars since it created the Franchise structure in response to the heavy market losses of 1998-2001.
For the third time in four years, Florida’s homeowners insurance market is entering the first quarter in a state of great uncertainty as the deteriorating operating environment again brings the prospect of ratings downgrades in the crucial months leading up to the hurricane season.
Former Lloyd’s head of regulation and run-off expert Ken Randall lost none of his energy or Calvinistic work ethic when he recently entered his eighth decade. Testament to this is the recent transformation of his company R&Q after concluding it needed to repurpose to reflect the industry’s changing dynamics.
The first two weeks of the year have brought news of settlements in three disputes between rival brokers that had raged throughout much of 2019.
One advantage of tough times is that it enables an institution to examine all its established practices that otherwise remain unchallenged when the sun is shining.
Over the next few days, a plethora of reports and commentaries on the 1.1 reinsurance renewals will be published. Earlier today, brokers Willis Re, Hyperion and Guy Carpenter were all out of the traps with their analysis.
For UK insurance brokers, 2019 will be remembered as a vintage year. Whereas carriers in the UK market such as Barbican were able to achieve only modest price to book multiples, the valuations realised by intermediaries have been truly impressive.
US insurers will soon find out whether they have been naughty or nice when the US Senate decides if it will deliver a veritable wish list of legislation benefiting insurers, including what would represent a stunningly early renewal of the terrorism insurance backstop.
A fool-proof method of losing readers before the first line is even glanced at is to place “Brexit” in the headline, so this article begins by thanking those who persevere.
Two developments this week suggest that industry insured losses from October’s Typhoon Hagibis may not be as bad as first feared.
This week saw the announcement that Victor Syndicate 2288 will be the fourth new entrant to go live at Lloyd’s from 1 January 2020.
‘Tis the season to be jolly and for many this means the tradition of The Office Christmas Parties. In recent years, a new tradition has emerged: HR departments warning over the perils of consuming too much festive spirit at such events. This is particularly common in London where the tradition ...
Lloyd’s has a rotten culture, according to the Sunday Times and its business editor, Oliver Shah.
As The Insurer reported earlier today, AJG currently has only one more week before its call option to acquire London market reinsurance broker Capsicum Re under a pre-determined formula expires.
After private equity-owned Ardonagh reported a notable uptick in its underlying performance in the first half of the year, The Insurer asks whether its’ nine-month financials – expected later today – could place the ambitious UK broker consolidator firmly in the black.