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(Re)insurance industry must de-commoditize to grow: Peignet

News

Casualty Reinsurance

(Re)insurance industry must de-commoditize to grow: Peignet

The (re)insurance sector must move away from offering commoditized products to meet the evolving demands of buyers and close the coverage gap, Scor’s Global P&C CEO, Victor Peignet has said.

Wed 6 Feb 2019

ILS capacity core to AIG reinsurance buying: Fry

News

Casualty Reinsurance

ILS capacity core to AIG reinsurance buying: Fry

AIG remains committed to ILS capacity as part of its reinsurance buying strategy, according to Charlie Fry, head of reinsurance and transformation at the carrier’s General Insurance unit.

Wed 6 Feb 2019

Hyperion’s Howden: ‘We can’t consolidate to greatness’

News

Hyperion’s Howden: ‘We can’t consolidate to greatness’

Hyperion CEO David Howden has warned the market on the potential dangers of further consolidation, arguing that it not only limits customer choice but also hampers the market’s ability to grow.

Wed 6 Feb 2019

John Neal reveals new geographical focus for Lloyd’s

News

John Neal reveals new geographical focus for Lloyd’s

John Neal, the new chief executive of Lloyd’s of London, has promised a “new geographical focus,” marking an end to the Corporation’s office-building around the world and a renewed focus on its traditional growth markets, such as the US.

Wed 6 Feb 2019

Munich Re profits halve in fourth quarter as nat cats take toll

News

Casualty Reinsurance

Munich Re profits halve in fourth quarter as nat cats take toll

Reinsurance giant Munich Re has reported a profit of Eur238mn ($270.9mn) in the fourth quarter of 2018, down 56 percent from the same period in 2017.

Wed 6 Feb 2019

Jordan replaces Carragher as Breckenridge CEO

News

People Moves

Jordan replaces Carragher as Breckenridge CEO

WR Berkley (WRB)-owned Breckenridge Insurance Group has replaced its president and CEO Tracey Carragher with David Jordan, who moves over from another WRB company, Vela Insurance Services.

Wed 6 Feb 2019

Allstate beats in cat-struck Q4

News

Results

Allstate beats in cat-struck Q4

Allstate reported adjusted fourth quarter net income per share that was ahead of Wall Street forecasts despite a 6 points increase in the combined ratio of its property-liability division driven by cat losses.

Wed 6 Feb 2019

Markel writes off CatCo goodwill and intangibles with $179mn charge

News

Results

Markel writes off CatCo goodwill and intangibles with $179mn charge

Markel has reduced the carrying value of the goodwill and intangible assets of its CatCo unit to zero, taking a $179mn fourth quarter impairment charge in the process.

Tue 5 Feb 2019

Chubb highlights improved pricing in earnings beat

News

Results

Chubb highlights improved pricing in earnings beat

Chubb pointed to strong top-line growth that included the impact of improved pricing as it reported fourth quarter operating profits that were just ahead of Wall Street forecasts and included the impact of preannounced cat losses of $506mn after-tax.

Tue 5 Feb 2019

‘There’s a lot of pain in the marine market’: Iumi

News

Marine

‘There’s a lot of pain in the marine market’: Iumi

The president of the International Union of Marine Insurance (Iumi) Richard Turner has urged marine underwriters to embrace data and digitalisation in order to improve profitability.

Tue 5 Feb 2019

Duclos named non-exec chair of Lloyd’s Global Network

News

People Moves

Duclos named non-exec chair of Lloyd’s Global Network

Lloyd’s has named industry veteran David Duclos as non-executive chairman of Lloyd’s Global Network, effective immediately.

Tue 5 Feb 2019

Sompo launches mortgage protection insurance for US lenders

News

Sompo launches mortgage protection insurance for US lenders

Sompo International has unveiled a new mortgagee protection insurance product for US lenders.

Tue 5 Feb 2019

Sillat and Calise return with Balance Partners MGA

News

People Moves

Sillat and Calise return with Balance Partners MGA

Michael Sillat and Joe Calise have launched a new US specialty lines MGA platform called Balance Partners, The Insurer can reveal.

Tue 5 Feb 2019

RSA UK & International CEO Lewis exits; Egan takes helm

News

People Moves

RSA UK & International CEO Lewis exits; Egan takes helm

The chief executive of RSA’s UK & International division Steve Lewis is departing from the UK insurer.

Tue 5 Feb 2019

Beazley launches combined cyber and executive risk division

News

Cyber

Beazley launches combined cyber and executive risk division

London carrier Beazley has launched a cyber and executive risk division led by its head of cyber and executive risk Mike Donovan.

Tue 5 Feb 2019

Hannover Re grows top line by 15.4%

News

Casualty Reinsurance

Hannover Re grows top line by 15.4%

Reinsurance giant Hannover Re reported a 0.9 percent premium pricing increase on renewals at 1 January with an overall double-digit boost of 15.4 percent to the top line of its traditional P&C portfolio.

Tue 5 Feb 2019

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