Lloyd’s appoints Spyropoulos as CEO of Lloyd’s Asia

Lloyd’s has appointed Pavlos Spyropoulos as country manager for Singapore and chief executive of Lloyd’s Asia.

Mon 3 Aug 2020

Kinsale considering capital raise to take advantage of E&S opportunities

Kinsale Capital Group could look to raise “a modest” amount of equity capital before the end of the year as the carrier seeks to take advantage of the opportunities that have arisen from the widespread E&S market hardening, president and CEO Michael Kehoe told analysts on Friday.

Sat 1 Aug 2020

Moody’s goes negative on BroadStreet debt rating amid Covid-19 pressures

Moody’s has changed its outlook on the ratings of BroadStreet Partners to negative because of elevated financial leverage after the US broker consolidator borrowed a further $175mn, with the issue of a term loan taking total credit facilities to $1.6bn.

Fri 31 Jul 2020

Nat Gen beats Street as Q2 combined ratio improves 10.4pts

National General’s operating earnings per diluted share for 2020’s second quarter comfortably beat analyst estimates in a result which reflected both “continued strong underwriting” and the decline in miles driven by policyholders within its P&C segment.

Fri 31 Jul 2020

Goosehead shares surge 23% after strong Q2 revenue growth

Shares in Goosehead Insurance were trading up by 23 percent today after the personal lines agency reported Q2 earnings that included 54 percent top line growth and said it is forecasting organic revenue growth of 34 to 41 percent for the full year, despite the ongoing pandemic.

Fri 31 Jul 2020

Swiss Re CorSo overhaul sees “light at the end of the tunnel”

Swiss Re is seeing “the light at the end of the tunnel” with regards to the transformation of its Corporate Solutions unit after completing 60 percent of its planned pruning of the commercial insurance unit’s book, according to group CEO Christian Mumenthaler.

Fri 31 Jul 2020

US securities class actions down 18% in H1: Cornerstone

New securities class action lawsuits in US federal and state courts fell 18 percent in the first half of 2020 over the same period in 2019, according to a report from Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse.

Fri 31 Jul 2020

Aon shares trade down as earnings call points to revenue pressures outlook

Fri 31 Jul 2020

Swiss Re’s Schmid: Public-private pandemic partnerships “only real solution”

With pandemic exclusions being rolled out across P&C policies since the outbreak of Covid-19, Swiss Re’s group chief underwriting officer Edi Schmid has reiterated calls for public-private partnerships to protect against future pandemics while also suggesting how insurers can play a role in providing solutions.

Fri 31 Jul 2020

Miller launches Geneva credit and political risk branch

Broker Miller has registered a new branch in Geneva, initially focused on credit and political risk.

Fri 31 Jul 2020

Hartford share price rises 4.5% on Q2 results and expense savings plan

Christopher Swift on an earnings call revealed The Hartford backs the prospective pandemic proposal put forward by trade associations, as well as the push for Covid-19 safe harbour protections, while investors sent the insurer’s share price up almost 5 percent in response to a Q2 earnings beat.

Fri 31 Jul 2020

Breckenridge to launch Texas non-standard auto program with Davis hire

Wholesaler, program manager and MGA Breckenridge Insurance Group has hired former Apollo, Newport General and Tri-Star executive Sheree Davis to launch a new non-standard auto program in Texas.

Fri 31 Jul 2020

Covid-19 expense reductions help Aon deliver Q2 earnings beat

Better than expected margin improvement driven by expense reduction measures implemented in response to Covid-19 helped Aon deliver an earnings beat during the second quarter of 2020, according to analysts. 

Fri 31 Jul 2020

Aon-WTW on track to close with no divestitures: Davies

Aon management have reiterated their confidence that the Willis Towers Watson deal will close without the need for divestitures, including in reinsurance.

Fri 31 Jul 2020

Sompo International looks to Talbot for London energy lead McDonald

Sompo International has hired James McDonald to lead its energy team in London.

Fri 31 Jul 2020

Oneglobal continues build out with of Galyer as general counsel

London broker Oneglobal has continued its hiring spree, adding another former senior JLT employee to its ranks. 

Fri 31 Jul 2020