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Berkshire Hathaway vice chairman Charlie Munger dies at 99

News

Obituary

Berkshire Hathaway vice chairman Charlie Munger dies at 99

Charlie Munger, right-hand man to Warren Buffett at Berkshire Hathaway for decades, has died aged 99.

Tue 28 Nov 2023

Axis Insurance secures $75mn of protection through industry’s first 144A cyber cat bond

News

Cyber

Axis Insurance secures $75mn of protection through industry’s first 144A cyber cat bond

Axis Capital has closed the first ever 144A cyber-focused catastrophe bond, with the newly-minted protection providing the firm’s insurance platform with $75mn of fully collateralized indemnity reinsurance protection for systemic events on a per-occurrence basis.

Tue 28 Nov 2023

AM Best: Nonstandard auto UW loss improved in H1 but rate inadequacy concerns persist

News

Personal auto

AM Best: Nonstandard auto UW loss improved in H1 but rate inadequacy concerns persist

The US nonstandard auto insurance segment continues to experience poor results, although the first-half 2023 underwriting loss of $333mn was an improvement over the $773mn loss in the same previous-year period, according to a new AM Best report.

Tue 28 Nov 2023

CRC’s Coastal Insurance names Bridges and Petrillo presidents

News

People Moves

CRC’s Coastal Insurance names Bridges and Petrillo presidents

CRC-owned program administrator Coastal Insurance Underwriters (CIU) has appointed Sim Bridges as president in addition to his existing role as chief underwriting officer and Kim Bushong Petrillo as president and chief operating officer.

Tue 28 Nov 2023

Alliant launches trucking excess program for middle market

News

Commercial auto

Alliant launches trucking excess program for middle market

US broker Alliant Insurance Services has launched an exclusive trucking excess program that offers middle market fleet operators a return of excess premium for safe driving activity.

Tue 28 Nov 2023

Trade secret insurtech Crown Jewel adds three (re)insurers for Chaucer-led policy

News

Lloyd's

Trade secret insurtech Crown Jewel adds three (re)insurers for Chaucer-led policy

Insurtech and Lloyd’s coverholder Crown Jewel Insurance has secured three additional (re)insurance companies - Apollo Syndicate Management, Tokio Marine Kiln Syndicates and Greenlight Reinsurance - to support its trade secret insurance policy.

Tue 28 Nov 2023

Gallagher Re promotes Hansen to COO

News

People Moves

Gallagher Re promotes Hansen to COO

Gallagher Re has appointed Mark Hansen as its chief operating officer (COO), taking over from BMS-bound Chris Brook.

Tue 28 Nov 2023

Saga group CEO Sutherland steps down

News

People Moves

Saga group CEO Sutherland steps down

London-listed Saga Plc’s Euan Sutherland will step down from his role as group CEO, with current CFO Mike Hazell set to succeed him.

Tue 28 Nov 2023

Product recall MGA BluNiche launches in UK under Mitchell

News

Commercial insurance

Product recall MGA BluNiche launches in UK under Mitchell

Product recall MGA BluNiche has launched in the UK under the leadership of MS Amlin’s Ed Mitchell.

Tue 28 Nov 2023

Patriot Growth agrees $500mn expansion to existing debt facility

News

Capital raising

Patriot Growth agrees $500mn expansion to existing debt facility

Private equity-backed Patriot Growth Insurance Services has significantly expanded its existing debt facility after securing $500mn of financing led by existing lenders Golub Capital and jointly arranged by Antares Capital.

Tue 28 Nov 2023

TV
Corvus’ Rebholz: Cyber premiums not keeping up with threat landscape

News in Focus

Cyber

Corvus’ Rebholz: Cyber premiums not keeping up with threat landscape

Corvus’ chief information security officer Jason Rebholz has warned that premiums in the cyber market are failing to keep pace with the current threat landscape.

Tue 28 Nov 2023

Allianz’s Bäte takes Coalition board seat as two firms strengthen relationship

News

Cyber

Allianz’s Bäte takes Coalition board seat as two firms strengthen relationship

Coalition has strengthened its existing ties with Allianz after the German insurance giant’s CEO Oliver Bäte took a seat on the cyber insurtech’s board of directors.

Tue 28 Nov 2023

Axis Re hires Guy Carp’s Coburn as Canadian reinsurance head

News

People Moves

Axis Re hires Guy Carp’s Coburn as Canadian reinsurance head

Axis Capital has recruited Jessica Coburn from Guy Carpenter to lead its reinsurance underwriting in Canada.

Tue 28 Nov 2023

State National set for UK launch with program services division

News

Program partners & launches

State National set for UK launch with program services division

Markel-owned fronting carrier State National is set to launch a program services division in the UK at 1 January 2024, as it looks to provide options to the expansive MGA market in the country and overseas.

Tue 28 Nov 2023

WTW adds Lockton’s Ventosa Dünwald as energy/infrastructure growth leader

News

People Moves

WTW adds Lockton’s Ventosa Dünwald as energy/infrastructure growth leader

WTW has hired Diego Ventosa Dünwald from Lockton as energy and infrastructure growth leader, natural resources, based in North America.

Tue 28 Nov 2023

Arch hires Habay as head of BD and ILS partners relations

News

People Moves

Arch hires Habay as head of BD and ILS partners relations

Arch Capital has hired former JLT Re executive Greg Habay as managing director, head of business development and ILS partners relations.

Tue 28 Nov 2023

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