Lloyds, city at night

Barbican drafts in Aon Benfield to manage RITC auction

2018-04-20T14:56:00+01:00

Lloyd’s insurer Barbican has instructed Aon Benfield to evaluate third-party reinsurance to close (RITC) quotes for its back-year liabilities, re-Insurance.com can reveal.

london city abstract

Ardonagh’s results hit by £51mn Towergate compensation bill

2018-04-20T08:50:00+01:00

Ardonagh Group’s dismal £260.9mn 2017 FY loss was exacerbated by a more than £50mn charge thought to be related to claims against one of its companies Towergate, which was forced to payout millions in compensation over a pensions advice scandal.

tokio marine exterior

TMK partners with Australian InsurTech firm for SME cover

2018-04-20T11:24:00+01:00

Tokio Marine Kiln is partnering with Australian InsurTech firm Evari to offer cover for small-and medium-sized companies in the country, the carrier announced today.

Aig logo 900px

AIG transfers business to newly established European companies

2018-04-19T13:49:00+01:00

AIG has moved forward with its Brexit planning as it paves the way to transfer its existing business to two newly-established insurance companies in the UK and Luxembourg.

arita chatterjee

Envelop Risk to launch Bermuda cyber platform with Chatterjee hire

2018-04-19T08:52:00+01:00

Hannover Re’s Bermuda-based cyber expert Aritra (Ari) Chatterjee has joined start-up Envelop Risk as chief underwriting officer and will launch an underwriting platform on the island later this year, re-Insurance.com can reveal.

Plane landing

Aviation underwriters hold their mettle in Q1

2018-04-18T15:26:00+01:00

Under pressure from senior management, after a devastating catastrophe year in 2017, aviation underwriters pushed back in the first quarter to hold rates flat, according to broker JLT.

Megan thomas

Axis Re takes AIG’s Thomas for new CUO role

2018-04-18T14:02:00+01:00

Axis Re has appointed Megan Thomas to a newly-created chief underwriting officer role, the Bermudian announced today.

Marsh paul denny

Marsh moves US financial and professional lines leader to UK

2018-04-18T10:55:00+01:00

Marsh has named Paul Denny financial and professional practice leader for the UK.

Lloyd's, City of London

Accident and health goes live on PPL

2018-04-18T08:57:00+01:00

Accident and health is the the latest line of business to go live on the electronic placing platform PPL.

mike mc gavick 2018

McGavick stands to gain over $150mn from Axa’s XL deal

2018-04-17T16:52:00+01:00

XL Group CEO Mike McGavick could earn up to $154.3mn from the $15.4bn deal with French insurer Axa which would take his total holdings in the Bermudian to $180mn, or 1.18 percent of total equity.

Mike McGavick, XL Group

XL Group received alternative bid in ‘low $50s’ in seven-strong M&A auction

2018-04-17T06:36:00+01:00

XL Group, the Bermudian (re)insurer that succumbed last month to an all cash $15.3bn takeover at $57.60 per share from French powerhouse Axa, had M&A discussions with seven different potential acquirers and received a non-binding alternative bid in the “low $50s” from an unnamed carrier.

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Angerstein: Lloyd’s headcount leaps despite costly virtue signalling

The Corporation of Lloyd’s senior management have been signalling their commitment to cost-reductions for some time - so one can imagine there was a collective groan when it published its market-wide results last month.

Marine, Piracy

Brain drain and the IG account - what next for Miller?

The next few months may well prove crunch time for wholesale broker Miller.

ils story graph3

It’s bad out there… but is it that bad?

Many ILS investors take a very binary approach and M&A is encouraging a de-leveraging effect. Florida 1.6 renewals may be disappointing but there are still grounds for optimism…

Lloyd's analysis

Lloyd’s sale rush raises existential questions

The recent influx of Lloyd’s platforms onto the M&A market has raised a plethora of issues for what the sales rush means for the future of the market - as well as what the sudden spike in supply could do to already frothy takeout multiples.

aspen vs bermuda stocks performance

Bermuda stocks back in vogue as M&A bonanza fuels strong returns

With M&A speculation swirling, Bermuda is now on top of would-be buyers’ wishlists - and now everyone is a potential target. Re-Insurance.com digs into the numbers to see who has emerged as the market’s darling at the end of Q1…

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