Richard-Brindle

Fidelis unveils new Irish (re)insurer

2018-10-23T14:31:00+01:00

Fidelis has unveiled a newly licenced Dublin subsidiary staffed with a phalanx of experienced management from rival (re)insurers, the Bermudian-headquartered firm announced today.

_Tava-Madzinga

Swiss Re unveils new UK & Ireland CEO

2018-10-23T13:52:00+01:00

Swiss Re has filled its vacant UK & Ireland CEO position with Tava Madzinga, the current head of its MENA region.

screensaver

Swiss Re’s Higginbotham ‘optimistic’ on market outlook

2018-10-23T12:59:00+01:00

Speaking to Re-Insurance in Baden-Baden this year, Swiss Re’s Russell Higginbotham – who was appointed CEO of reinsurance for EMEA at the reinsurance giant in September – highlighted some of the challenges the market faces and where the opportunities lie.

Vindati

US MGA start-up Vindati hires Allianz exec

2018-10-23T10:56:00+01:00

Start-up US MGA Vindati has hired former Allianz executive John Barnwell to lead its new ocean marine line of underwriting.

Jay-Nichols

Nichols named interim CEO/chairman at Protective

2018-10-23T10:46:00+01:00

Jay Nichols has returned to a front seat position in the industry as chairman and interim CEO of specialist trucking and transportation carrier Protective Insurance Corporation.

Hurricane Irma boats

Universal passes reinsurers up to $315mn bill on Michael loss

2018-10-23T10:18:00+01:00By Ryan Hewlett

Floridian headquartered Universal Insurance Holdings is set to pass around $315mn of its losses from Hurricane Michael to its reinsurance panel.

Marine supersize cargo ship

Skuld given green light for Lloyd’s 2019

2018-10-23T10:15:00+01:00By

Scandinavian marine insurer Skuld has had its Lloyd’s business plan approved for next year, Re-Insurance understands.

Lloyd's

Apollo launches new £130mn Lloyd’s SPA Syndicate

2018-10-23T08:49:00+01:00

Independent Lloyd’s managing agency Apollo Syndicate Management Ltd (Apollo) has received “in principle” approval to launch a £130mn SPA Syndicate 1971 to operate alongside its existing Syndicate 1969.

Hurricane Michael

'Extremely dangerous' Category 4 Hurricane Willa nearing Mexico's Pacific coast

2018-10-23T08:12:00+01:00By Ryan Hewlett

Hurricane Willa is nearing the Pacific coast of Mexico as a Category 4 storm, bringing the potential for life-threatening storm surge, wind and torrents of rain.

John-Neal-&-Canegie-Brown-Lloyd's

Lloyd’s imposing capital loads on 2019 syndicates

2018-10-23T06:04:00+01:00

The expectation is growing that Syndicates trading in 2019 will do so with higher capital requirements compared to this year and in many cases with reduced top-lines.

Blue-Capital-Re-share-price-falls-further-with-Q3-losses-i

Excess capital to drive 1.1 pricing despite recent losses

2018-10-23T06:04:00+01:00

Despite the third quarter’s flurry of US and Asia cat events and the heavy Europeans storms earlier this year, cat reinsurers at Baden-Baden remain privately pessimistic about the prospect of 2019 seeing an uptick in rates.

ILS financial markets

$100bn ILS appetite will continue despite rising yields

2018-10-23T06:03:00+01:00By Ryan Hewlett

Traditional reinsurers who have faced fierce pricing competition from the pension funds and other investors in the ILS sector are naive if they think the sector will diminish with rising interest rates.

Apollo-and-Aspen

Apollo lowered bid twice before agreeing Aspen deal

2018-10-22T22:52:00+01:00

Apollo Global Management lowered initial non-binding offers for Aspen twice before a counter-proposal from the Bermudian (re)insurer led to the all-cash transaction at $42.75 a share being agreed.

Cty of london lloyds

Flagship Canopius syndicate to cut 2019 gross premiums by £80mn

2018-10-22T16:58:00+01:00By Ryan Hewlett

Top-ten Lloyd’s insurer Canopius will cut gross premiums by £80mn for its flagship Syndicate 4444 for 2019 as further evidence of the Corporation’s determination to de-leverage the market after the decline in overall performance levels in recent years.

L loyd's of london

Up-for-sale Lloyd’s motor insurer receives heavy capital loading

2018-10-22T15:11:00+01:00

Lloyd’s motor syndicate ERS has received a capital loading for next year in a further demonstration of the Corporation’s “get tough” approach after the recent decline in the market’s results.

Brown & Brown

Brown & Brown to buy Hays Companies

2018-10-22T14:54:00+01:00

Expansive US retail broking giant Brown & Brown has agreed a deal to buy its smaller rival Hays Companies.

Cyber security

Cyber risks are global but insurance not meeting demand: Munich Re

2018-10-22T14:43:00+01:00By Ryan Hewlett

Demand for cyber insurance is growing rapidly as increasingly costly events prove no market, sector or company is spared, irrespective of its size, from cyber risk, according to Munich Re.

Hannover, city

Hannover Re forecasts modest upswing for loss-affected German cat treaties

2018-10-22T13:34:00+01:00

Hannover Re expects positive premium development in its domestic German market for the upcoming round of treaty renewals at 1.1, albeit at a more muted pace than in the previous year.

Lloyd's, City of London

Miller snaps up London (re)insurance broker Alston Gayler

2018-10-22T10:25:00+01:00By Ryan Hewlett

Miller has confirmed it has entered into a definitive agreement to acquire Dutch-owned London market wholesaler Alston Gayler, as previously predicted by Re-Insurance.

David-Howden-Hyperion

Hyperion X to launch as major new 1.1 tech, data initiative

2018-10-22T09:49:00+01:00

London-headquartered intermediary Hyperion Insurance Group has unveiled a fourth new operating arm and parachuted in the senior management of its specialty broker RKH to lead the business as a mark of its commitment to drive much-needed industry “digital change”.

Lloyds buidling landscape

Lloyd's warns of 'crippling' $160bn insurance gap

2018-10-22T08:09:00+01:00By Ryan Hewlett

An estimated $163bn of assets are underinsured in the world today, leaving an exposure gap that poses a “significant threat” to livelihoods and global prosperity, according to new research from Lloyd’s and the Centre for Economics and Business Research (CEBR).

Central-Pacific-hurricane

Perils launches Australia wind forecasting platform

2018-10-22T07:01:00+01:00By Ryan Hewlett

Zurich-based catastrophe modelling firm Perils has expanded its wind cat forecasting platform to include Australia.

Carnegie-Brown-UK-EU

Lloyd’s: hard Brexit no obstacle to paying claims

2018-10-21T21:29:00+01:00

Despite the continuing stalemate between the European Union and the UK government, Lloyd’s chairman Bruce Carnegie-Brown has reassured Baden-Baden attendees that the 330 year old market will seamlessly process claims and commit capacity regardless of what “Brexit” looks like in 2019.

marine maersk line generic

Gard swoops on another flagship London marine account

2018-10-21T21:28:00+01:00By

Norwegian carrier Gard has secured another landmark London marine hull account, taking over from Lloyd’s insurer QBE as the lead on the London placement of the Qatar LNG fleet program, Re-Insurance can reveal.

Baden-Baden 2018 panelists

M&A carousel will continue but 'clients like choice'

2018-10-21T21:24:00+01:00

Despite the remarkable frenzy of M&A seen in 2018, speakers at the Guy Carpenter Baden-Baden symposium yesterday feel the market will still value the specialist carrier as long as it remains nimble and responsive to clients’ needs.

James-Nash-Baden-Baden-2018

Nash: 'shadows' cast over industry ahead of 1.1 renewals

2018-10-21T15:32:00+01:00

Guy Carpenter’s international CEO James Nash has praised reinsurers for its “rational response” to the estimated $140bn of insured cat losses last year but warned that new “shadows” are being cast over the industry ahead of the 1.1 renewals.

Brexit referendum uk 1468255044b ix

Contract continuity ‘no issue’ says EU Brexit chief

2018-10-21T06:12:00+01:00By Ryan Hewlett

The European Parliament’s Brexit chief has said there will be “no issue” of contract continuity for (re)insurance firms once the UK departs from the European Union in March next year, Re-Insurance can reveal.

Hurricane Michael

RMS pegs Michael insured losses at upto $10bn

2018-10-19T16:50:00+01:00By Ryan Hewlett

Global risk modeling and analytics firm, RMS has estimated that the insured loss from Hurricane Michael will be between $6.8bn and $10bn

Blue capital logo

Blue Capital Re: correction on loss estimate

2018-10-19T16:00:00+01:00

The NYSE-listed collateralised reinsurance fund Blue Capital Re said yesterday that its Q3 net Irma loss bill will increase by a further $6.1mn.

North star scapsized ship

Marine insurers braced for another major shipyard loss

2018-10-19T15:59:00+01:00By

UK insurer RSA and other marine underwriters are bracing themselves for a loss of up to $75mn after Hurricane Michael ripped through a shipyard in Panama City, Florida earlier this month, Re-Insurance can reveal.