Hurricane

CatCo shares slip amid ‘uncertainty’ over last year’s losses

2018-08-17T12:54:00+01:00By

London-listed shares in Markel’s ILS fund manager CatCo slid this morning after the carrier alluded to uncertainty about last year’s catastrophes in its first-half results for 2018.

Aon sign

Wanat named Aon’s US commercial broking boss

2018-08-17T08:09:00+01:00By

Aon has named one of its long-standing servants and the former CEO of its financial services group - Brian Wanat - as chief broking officer for US commercial risks solutions.

California wildfires

Reserve charges adds to Allstate’s $220mn July cat bill

2018-08-16T13:21:00+01:00By

US insurance giant Allstate was hit with a $42mn reserve charge last month, taking its total July catastrophe bill to $262mn after a month that was scarred by wildfires and summer storms.

Thomas lillelund

Aspen Re poised to release CEO Lillelund early to join key client AIG

2018-08-16T11:08:00+01:00

Aspen Insurance Holdings is not expected to hold its departing reinsurance head to his one-year notice period in order to help maintain good terms with its top-five client, AIG, re-Insurance.com understands.

Cat-related-losses-i

Swiss Re pegs H1 insured cat losses at $20bn

2018-08-16T10:38:00+01:00By

Insured catastrophe losses incurred in the first half of 2018 are estimated to stand at $20bn, according to Swiss Re’s latest Sigma report.

qbe london city exterior

QBE’s combined ratio improves as streamlining boosts bottom line

2018-08-16T09:47:00+01:00By

Australian giant QBE saw its combined ratio improve in the first half of 2018 as the effects of a “simplification plan” start to help the group’s bottom line.

Hamburg rathaus

Darag taps Halley for CFO role as Trotman steps down

2018-08-16T09:30:00+01:00By

Legacy specialist Darag has appointed James Halley group chief financial officer, replacing Mike Trotman.

London, city, Aspen and QBE, Plantation Place

QBE sells US personal lines business to Liberty Mutual’s Safeco

2018-08-16T08:43:00+01:00By

QBE North America has offloaded its book of personal insurance independent agency policies to Liberty Mutual-owned Safeco.

Ers ferrari close up

ERS returns to profit so far in 2018

2018-08-16T08:41:00+01:00By

Specialist motor-only Lloyd’s syndicate ERS has booked a £5.6mn profit in the first half of the year as its combined ratio fell well below 100 percent.

Amazon

Amazon mulling UK insurance comparison site: report

2018-08-16T08:38:00+01:00By

Amazon is expected to confirm the fears of many in the insurance sector by bringing its scale and data to bear on distribution with a price comparison site, Reuters has reported.

US-EU-flag

R&Q inks three new program deals with European MGAs

2018-08-16T06:45:00+01:00By

London-listed Randall & Quilter has added three new program underwriting partnerships with European MGAs to its books through its Malta-based subsidiary which takes the firm past the $200mn GWP milestone.

Bermuda, Hamilton

Axis Re swoops on PartnerRe for Pollak

2018-08-15T15:16:00+01:00By

Axis Re has appointed Marcus Pollak to head up underwriting processes and portfolio management activities at the reinsurer.

New York

Sompo International taps Swiss Re to expand US cyber team

2018-08-15T14:28:00+01:00By

Sompo International has appointed Richard DePiero a senior vice president and US cyber product leader for Sompo Pro, the carrier’s professional liability insurance unit.

Gross-cat-reinsurance

IAG increases reinsurance spend by almost half in 2018

2018-08-15T09:48:00+01:00By

Australia’s second-largest insurer IAG said it is experiencing “modest upwards pressure on reinsurance rates” as the firm published its FY results to June 2018.

City of london skyline from london city hall   sept 2015 169crop

Capsicum Re bolsters cyber team with two hires

2018-08-15T08:24:00+01:00By

Reinsurance broker Capsicum Re has appointed Jasper Goring as a cyber broker and Prab Naidu as wordings director.

London, city, Aspen and QBE, Plantation Place

Up-for-sale Aspen awards CFO Kirk $2mn retention bonus

2018-08-14T21:55:00+01:00

Aspen’s group CFO Scott Kirk has been awarded a long-term retention bonus of $2mn only months after his “change of control” golden parachute payment entitlement was increased.

Lloyd's, City of London

Managing agents call for increased ILS capital at Lloyd’s

2018-08-14T15:31:00+01:00

Lloyd’s managing agencies overwhelmingly support ILS becoming a permanent fixture within the Corporation, a survey by the LMA has found.

Royal Courts of Justice, London

Exin Capital faces being wound up by HMRC in court tomorrow

2018-08-14T15:24:00+01:00By

Matt Fairfield’s beleaguered Exin is expected to enter liquidation tomorrow (15 June) following a wind-up petition being issued by HM Revenue & Customs.

Sailboat in the Hamilton, Bermuda, harbor copy

Apollo launches new Bermuda reinsurer Acra Re

2018-08-14T15:06:00+01:00

Heavyweight investment firm Apollo Global Management has formed a new Bermudian (re)insurer, which is expected to be used as a platform for writing large P&C and life trades, re-Insurance.com can reveal.

everest logo

Everest Re swoops on Chubb for chief reinsurance claims officer

2018-08-14T13:36:00+01:00

Everest Re has appointed Ike Barbatsoulis as chief claims officer in its reinsurance division.

lloyds city generic

Lloyd’s syndicate takes policies from defunct-Danish carrier Alpha

2018-08-14T13:36:00+01:00By

An unnamed Lloyd’s syndicate has assumed liability for 177,00 policies that were written by the now-defunct Danish insurer Alpha.

Car collision copy

Bain Capital to buy Esure in $1.2bn acquisition

2018-08-14T10:36:00+01:00By

Private equity firm Bain Capital has agreed terms to takeover UK-listed motor insurer Esure in a $1.2bn deal. 

wtw willisbuilding

Willis pursues Alliant for trying to ‘decimate’ its construction team

2018-08-13T15:57:00+01:00By

Willis Towers Watson is suing Alliant for trying to “steal millions of dollars of revenues” after the West Coast broker poached a 12-strong construction team from its larger rival.

Cat-bond-issuance-by-quarter-I

Alternative capital continues to ‘surge’: Aon

2018-08-13T15:51:00+01:00By

Global alternative reinsurance capital had climbed to $95bn by the end of first quarter, an increase of 7 percent from the end of 2017, according to estimates by Aon Benfield.

New York

Axis taps Travelers for global head of ceded reinsurance

2018-08-13T13:33:00+01:00By

Bermudian carrier Axis has appointed Anne Kelly global head of ceded reinsurance.

Marine port cargo generic

AmWins secures Argo backing for two new marine MGAs

2018-08-13T13:06:00+01:00By

Wholesale broking giant AmWins has launched two new MGAs focused the marine market – Amwins Specialty Logistics Underwriters (ASLU) and Sentinel Marine Underwriters (SMU).

Sydney opera house australia 54610

StarStone launches casualty consortium in Australia

2018-08-13T09:16:00+01:00By

StarStone has launched a casualty consortium targeted at the Australian and New Zealand markets.

Hannover, city

Talanx profits improve despite uptick in industrial fire losses

2018-08-13T08:53:00+01:00By

Hannover Re owner Talanx managed to grow profits in the first half of the year despite an uptick in German fire and property losses in its industrial lines unit.

Tampa,Florida,USA._-_panoramio_(26)

Darag inks its first US deal as it partners with SOBC

2018-08-13T08:44:00+01:00By

Run-off acquirer Darag has entered a joint venture with US-based SOBC in a bid to grow beyond its European heartland into the North American, Caribbean and Bermudian legacy markets.

Classic cars

Volante launches motor MGA

2018-08-13T08:11:00+01:00By

Volante Global, the MGA platform led by Talbir Bains, has launched its latest MGA - Gentium Motor.