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Blockchain requires buy-in of whole industry ecosystem: Balakrishnan

2018-06-18T15:06:00+01:00By

While blockchain has the potential to disrupt the entire financial services industry, the technology requires the whole (re)insurance industry to participate in order for it to bring substantive change to the market, according to Xceedance CEO Arun Balakrishnan.

Hamilton Bermuda

Enstar weighs Atrium and StarStone sale in frothy M&A market

2018-06-18T13:16:00+01:00By

Legacy giant Enstar has confirmed the appointment of investment bank Evercore to sell its two live underwriting businesses.

Grahame Chilton

Gallagher’s UK broking boss Chilton to step aside

2018-06-18T11:44:00+01:00By

Industry stalwart and the CEO of Gallagher’s UK broking and underwriting operations Grahame “Chily” Chilton is to step down, the company announced today.

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Moody’s predicts ‘average’ 2018 Atlantic hurricane season

2018-06-18T11:03:00+01:00By

This year’s storm activity in the Atlantic basin is expected to be near historical averages, according to data collated by Moody’s.

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Allianz weighing approach for RSA, Aviva: report

2018-06-18T07:53:00+01:00By

German insurance giant Allianz is mulling a takeover approach for large UK carriers including RSA and Aviva after the Oliver Bäte-led company was beaten to the punch in pursuit of XL Group.

Nationwide

Aeolus NOT the ILS fund on $250mn Nationwide 'top and drop' layer

2018-06-15T16:41:00+01:00

Blue-chip reinsurance fund manager Aeolus is not the alternative market that shared the placement with Swiss Re on US mutual Nationwide’s top $250mn layer that renewed at 1.6.

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AM Best goes positive on PartnerRe

2018-06-15T16:32:00+01:00By

AM Best has said PartnerRe’s ability to eke out an underwriting profit last year - despite a swathe of devastating catastrophes - helped its decision to assign a positive outlook to the reinsurer’s “A” financial strength rating.

London, Bank of England

PRA doubled insurance investigations last year

2018-06-15T09:10:00+01:00By

The PRA conducted six investigations into the regulatory reporting, risk management and controls of insurance firms last year, double that of 2016.

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Ryan Specialty hires senior AmWINS exec to launch new cat MGU

2018-06-14T09:04:00+01:00By

Ryan Specialty Group has hired the head of AmWINS Special Risk Underwriters (SRU) Katie Davies to launch a new property MGU, with a strong cat component.

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Nephila-backed Volante reveals $900mn capacity deal

2018-06-14T08:36:00+01:00By

Volante, the newly-launched managing general agent backed by ILS heavyweight Nephila, has unveiled a $900mn capacity deal for a spate of new underwriting teams.

City of London skyline

Ardonagh Group makes move into reinsurance broking

2018-06-13T16:31:00+01:00By

The Ardonagh Group has taken a step into the reinsurance broking market with the launch of a new unit targeting the sector under its Price Forbes unit.

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Ryan Specialty’s StarPoint takes FI underwriter from Liberty

2018-06-13T15:32:00+01:00By

Ryan Specialty Group-owned managing general agent StarPoint Executive Risks has hired Mark Selby to head up its newly-launched financial institutions business.

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Hyperion takes 10% stake in Apollo Partners

2018-06-13T15:04:00+01:00By

Hyperion - which owns brokers Howden and RKH, as well underwriting agency Dual - has acquired a 9.9 percent stake in the holding company for Lloyd’s managing agency Apollo.

Greg-Abel-Berkshire-Hathaway

Berkshire Hathaway’s Abel made Aegis London non-exec

2018-06-13T14:17:00+01:00By

Berkshire Hathaway’s chairman of non-insurance business operations and potential Warren Buffett successor Greg Abel has been made a non-executive director of Aegis London’s board.

Engineering construction

Global construction premiums stagnate at $21bn: Swiss Re

2018-06-13T10:14:00+01:00By

Creeping loss ratios and dwindling rates are putting pressure on construction underwriters who - in London - are losing share to international rivals, according to a new study by Swiss Re.

william a malloy

US retailer Acrisure takes Aquiline’s Malloy

2018-06-12T12:02:00+01:00By

The fast-expanding US retail broker Acrisure has hired industry veteran William (Bill) Malloy from Jeff Greenberg’s private equity house Aquiline.

London, city skyline

Alesco poaches UIB’s Semaan in Middle East and Africa push

2018-06-12T10:54:00+01:00By

Expansive London market wholesaler Alesco has taken Nadim Semaan from UIB as it looks to grow its presence in the Middle East and Africa.

Argo

ArgoGlobal hires credit and political risk underwriter from Aspen

2018-06-12T10:52:00+01:00By

Argo’s Lloyd’s operation has hired Aspen’s acting global head of credit and political risk Daniel Byrne.

leadenhall building city

Brit takes Talbot’s COO Gould

2018-06-12T08:37:00+01:00By

Brit has hired Michael Gould to take over as chief operating officer after Nigel Meyer left for Canopius.

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PSC buys into BP Marsh amid £17mn capital raise

2018-06-12T08:02:00+01:00By

Australian broking house PSC Insurance Group, which owns London intermediaries Alsford Page & Gems and Carroll & Partners, has taken a £15.5mn stake in BP Marsh as it looks to expand its operations in the UK.

AmTrust

Proxy firm ISS changes advice to back AmTrust’s take-private deal

2018-06-12T07:17:00+01:00By

Having previously launched a scathing attack on AmTrust’s “less-than-robust sale process”, proxy voting firm ISS has decided back a take-private deal after the firm’s CEO, his in-laws and their backers raised their offer for the company by $1.25 per share.

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Insurers exposed to ‘silent blockchain risk’

2018-06-11T17:45:00+01:00By

Insurance carriers may be exposed to ‘silent’ risks from blockchain as companies begin to use the technology underpinning cryptocurrencies in their operations, according to Willis Towers Watson’s Magdalena Ramada.

dan hickey adjust

AmTrust makes Hickey group underwriting boss

2018-06-11T16:24:00+01:00By

AmTrust has promoted its strategy and business development executive Dan Hickey to take the reins as chief underwriting officer, the company said today.

AXA logo on building

Ardonagh owners buy Axa’s health insurance broker

2018-06-11T15:35:00+01:00By

Highbridge Principal Strategies (HPS) and Madison Dearborn Partners (MDP), which together own the bulk The Ardonagh Group, have acquired Axa’s UK-based healthcare broker.

London

Tysers staff finally receive £110mn windfall in cash and Integro stock

2018-06-11T14:58:00+01:00

The management and staff of London market broker Tysers have received a £110mn windfall in cash and Integro stock following the approval of its drawn-out takeover by the US intermediary.

andrew kendrick2 chubb

Kendrick to retire from Chubb

2018-06-11T13:37:00+01:00

London market veteran Andrew Kendrick is to retire from Chubb at year-end and will be replaced in his role as head of Europe operations by David Furby from 1 July, Chubb announced today.

Inside lloyd's of london

Aviation goes live on PPL

2018-06-11T12:53:00+01:00By

Aviation risks can now be quoted and bound on electronic placing platform PPL, it was announced today.

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Leadenhall’s new ‘remote risk’ fund trebles in size to $60mn

2018-06-11T10:49:00+01:00

ILS fund manager Leadenhall Capital Partners has seen its new “remote risk” fund almost treble in size to $60mn while its overall assets under management expand to a record $5bn, re-Insurance.com can reveal.

london city walkie talkie building

Integro confirms Tysers £110mn deal approval

2018-06-11T10:25:00+01:00By

Integro has received official approval from the UK Financial Regulation Authority for its deal to acquire London market broker Tysers.

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Markel enters Lloyd’s India to write reinsurance

2018-06-11T10:19:00+01:00By

US carrier Markel has been granted a license by the Indian regulator to write reinsurance business in the country through the Lloyd’s India platform.