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 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.
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.
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.
Insured catastrophe losses incurred in the first half of 2018 are estimated to stand at $20bn, according to Swiss Re’s latest Sigma report.
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.
Legacy specialist Darag has appointed James Halley group chief financial officer, replacing Mike Trotman.
QBE North America has offloaded its book of personal insurance independent agency policies to Liberty Mutual-owned Safeco.
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 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.
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.
Axis Re has appointed Marcus Pollak to head up underwriting processes and portfolio management activities at the reinsurer.
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.
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.
Reinsurance broker Capsicum Re has appointed Jasper Goring as a cyber broker and Prab Naidu as wordings director.
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 managing agencies overwhelmingly support ILS becoming a permanent fixture within the Corporation, a survey by the LMA has found.
Matt Fairfield’s beleaguered Exin is expected to enter liquidation tomorrow (15 June) following a wind-up petition being issued by HM Revenue & Customs.
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 Re has appointed Ike Barbatsoulis as chief claims officer in its reinsurance division.
An unnamed Lloyd’s syndicate has assumed liability for 177,00 policies that were written by the now-defunct Danish insurer Alpha.
Private equity firm Bain Capital has agreed terms to takeover UK-listed motor insurer Esure in a $1.2bn deal.
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.
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.
Bermudian carrier Axis has appointed Anne Kelly global head of ceded reinsurance.
Wholesale broking giant AmWins has launched two new MGAs focused the marine market – Amwins Specialty Logistics Underwriters (ASLU) and Sentinel Marine Underwriters (SMU).
StarStone has launched a casualty consortium targeted at the Australian and New Zealand markets.
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.
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.