Allstate

Allstate expects Q1 losses to total $361mn

2018-04-19T14:52:00+01:00

US insurance giant Allstate is expecting first quarter catastrophe losses to hit $361mn, with $222mn of that total from events in March alone.

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.

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.

ils story graph3

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

2018-04-17T13:49:00+01:00

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…

US hurricane 2017

US mid-year rate increases will be suppressed by ILS 'culprit'

2018-04-13T07:47:00+01:00

Investors should rein in any expectations of significant rate increases for US property cat treaties at the mid-year renewals despite last year’s $100bn+ of losses, warned JMP Securities analyst Matthew Carletti today (13 April).

New york

Alliant acquires Crystal & Company

2018-04-12T16:58:00+01:00

US specialty broking powerhouse Alliant has reached a deal to buy its smaller New York-based rival Crystal & Company.

Aspen climbs on bid spec adjust

Aspen’s first round bids due next week

2018-04-19T14:33:00+01:00

Potential acquirers of the up-for-sale Bermudian (re)insurer Aspen Insurance Holdings have until the 27 April to submit first round bids for the business in the sale process managed by JP Morgan and Goldman Sachs, re-Insurance.com can reveal.

mike mc gavick 2018

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

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

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.

xlbuilding bermuda

Axa’s bid for XL tops industry multiples

2018-04-17T13:50:00+01:00By

The AXA-XL proxy statement highlights the impressive valuation achieved by the Bermudian firm; nearly 2x tangible and fully diluted price to book. How does it compare to other M&A in the sector…

Tug of war

Custody battles

2018-03-12T17:13:00+00:00By

Much like in an acrimonious divorce, M&A can often see company bosses lose their baby -  the business they’ve built - to a new suitor. But what becomes of those execs after the custody battle?