Search | The Insurer TV

News

People Moves

ABI adds Swiss Re’s Madzinga to board

The Association of British Insurers (ABI) has appointed Tavaziva Madzinga, CEO of Swiss Re UK & Ireland to its board.

Tue 4 Aug 2020

AIG shares down 7% despite earnings beat and underlying CR improvement

News

Rates

AIG shares down 7% despite earnings beat and underlying CR improvement

Shares in AIG were trading down almost 7 percent this morning as investors reacted negatively to a messy quarter despite an earnings beat, improved underlying combined ratios in general insurance and positive news on pricing, which was up 16 percent on its global commercial book.

Tue 4 Aug 2020

Buckle raises $31mn in series A round co-led by HSCM and Eos

News

M&A

Buckle raises $31mn in series A round co-led by HSCM and Eos

Buckle has raised $31mn in a series A funding round co-led by HSCM Bermuda and venture capital firm Eos Venture Partners, with the rideshare insurtech also continuing to build out its insurance balance sheet capabilities with a deal to buy two more Atlas subsidiaries.

Tue 4 Aug 2020

NFP makes one of its largest acquisitions with Rose & Kiernan buy

News

M&A

NFP makes one of its largest acquisitions with Rose & Kiernan buy

US broker NFP has added about $50mn of revenues with the acquisition of Albany, New York-based Rose & Kiernan, as it continues to grow its business after revenues went through the $1.5bn mark in the 12 months to March 2020.

Tue 4 Aug 2020

Worldwide Facilities buys Florida surplus lines MGA Clearwater

News

E&S

Worldwide Facilities buys Florida surplus lines MGA Clearwater

US wholesale insurance broker Worldwide Facilities has expanded its program offering with the acquisition of Clearwater Underwriters, a Florida-based surplus lines MGA.

Tue 4 Aug 2020

News

COVID-19

H1 Covid-19 losses to attach AIG’s international cat treaty

AIG’s estimated Covid-19 related losses of $730mn net of reinsurance for the first half of the year are based on the expectation that the insurer will recover under its international per occurrence cat treaty, but it still has around half of its retention remaining before attaching its North American tower.

Tue 4 Aug 2020

Kinsale confirms equity raise to fund organic growth

News

Capital raising

Kinsale confirms equity raise to fund organic growth

E&S specialist Kinsale Capital Group has become the latest carrier to undertake an equity raise in the wake of Covid-19, announcing a public offering that would raise $60.5mn based on yesterday’s closing share price.

Tue 4 Aug 2020

Q2 organic growth rates suggest brokers will avoid worst case scenario

Analysis

Results

Q2 organic growth rates suggest brokers will avoid worst case scenario

Second quarter organic growth rates across the major brokers has suggested a more optimistic outlook for the remainder of 2020 than presented at the end of Q1.

Tue 4 Aug 2020

Aon raises $350mn for Opportunistic Credit investment strategy

News

Capital raising

Aon raises $350mn for Opportunistic Credit investment strategy

Aon Investments has successfully raised $349.9mn from US institutional investors for its Opportunistic Credit investment strategy, targeting public corporate and structured credit, stressed credit and real estate debt.

Tue 4 Aug 2020

Chubb announces plans to increase Huatai stake and unveils management changes in Asia

News

M&A

Chubb announces plans to increase Huatai stake and unveils management changes in Asia

Chubb has unveiled its intentions to become the majority owner of Huatai Insurance Group by purchasing an additional 7.1 percent, building its stake to 53 percent to position the group to “build a significant Chinese insurance company”.

Tue 4 Aug 2020

One80 buys medical stop loss MGU National Underwriting Services

News

M&A

One80 buys medical stop loss MGU National Underwriting Services

One80 Intermediaries has continued its expansion with the acquisition of medical stop loss managing general underwriter (MGU) National Underwriting Services.

Tue 4 Aug 2020

Isaias puts US East Coast on storm watch

News

Property catastrophe

Isaias puts US East Coast on storm watch

Hurricane Isaias marked the second landfall of the 2020 Atlantic season. As with Hurricane Hanna’s landfall on 25 July, insured losses will likely be manageable, likely in the low hundreds of millions of dollars at most.

Tue 4 Aug 2020

GRP acquires seven Aon books and targets further portfolio acquisitions

News

M&A

GRP acquires seven Aon books and targets further portfolio acquisitions

UK broker consolidator Global Risk Partners (GRP) has continued its growth momentum with the acquisition of the renewal rights to seven books of business from Aon.

Tue 4 Aug 2020

McGill & Partners lands MS Amlin’s Mellor for reinsurance team

News

People Moves

McGill & Partners lands MS Amlin’s Mellor for reinsurance team

Warburg Pincus-backed McGill & Partners has swooped on Bob Mellor who is set to join the intermediary as a partner in its reinsurance business, The Insurer can reveal.

Tue 4 Aug 2020

Ed adds RFIB’s Ulhaq to build Mena property fac team

News

Facultative

Ed adds RFIB’s Ulhaq to build Mena property fac team

Ed has strengthened its international property facultative reinsurance team with the addition of Assad Ulhaq as senior broker and producer.

Tue 4 Aug 2020

IRB Brasil Re reports $74mn loss in April and May

News

Results

IRB Brasil Re reports $74mn loss in April and May

Brazilian reinsurer IRB Brasil Re has reported a net loss of BRL392.5mn ($73.7mn) in the two-month period from April-May 2020 as claims lead to a 123 percent loss ratio in the two months.

Tue 4 Aug 2020