Search | The Insurer TV

News

Cyber

Beazley overhauls cyber and tech business under Bantick

London-listed Beazley has overhauled the underwriting team within its global cyber and tech underwriting unit under the leadership of former London market and international cyber leader Paul Bantick.

Wed 24 Jun 2020

Compre to launch Class 3A Bermudian reinsurer

News

Legacy

Compre to launch Class 3A Bermudian reinsurer

Compre has become the latest run-off specialist to be given the greenlight by the Bermuda Monetary Authority (BMA) to establish a Class 3A reinsurer on the island.

Wed 24 Jun 2020

News

QBE dips as Asia-Pacific stocks mixed on second virus wave

Shares in QBE closed 1.5 percent lower on Wednesday as Asia-Pacific (re)insurance stocks traded mixed on persistent fears over the surge in coronavirus cases in parts of US, Brazil and Asia.

Wed 24 Jun 2020

News

Lloyd’s and private investor Parshall settle dispute; Society immunity under 1982 Act remains intact

Lloyd’s has agreed to settle its dispute with a private investor, denying the High Court a chance to test the boundaries of the Society’s immunity to actions brought by members under the 1982 Lloyd’s Act.

Wed 24 Jun 2020

Comment

COVID-19

Why is Hiscox so keen on Sweden?

What connects Sweden with Hurricane Katrina, and an upmarket hotel chain? The answer is likely to materialise later today when UK regulator the FCA publishes the defence submissions of Hiscox and seven other insurers who are involved in a landmark test case examining their denial of liability over Covid-19 business interruption claims.

Wed 24 Jun 2020

McGriff and Cobbs Allen settle lawsuit over key hires

News

Legal dispute

McGriff and Cobbs Allen settle lawsuit over key hires

McGriff has reached a settlement with Cobbs Allen over the hiring of key individuals including Paul Sparks and Darren Sonderman who both joined the Birmingham, Alabama-based firm’s affiliated start-up CAC Specialty last year from the BB&T Insurance Holdings subsidiary.

Wed 24 Jun 2020

News

Global Indemnity plans US redomestication

After only four years of being based in the Cayman Islands, Global Indemnity Limited has announced it plans to redomesticate the company and its Bermuda subsidiary, Global Indemnity Reinsurance, to the US.

Wed 24 Jun 2020

Insurers may opportunistically raise more debt: S&P

News

Capital raising

Insurers may opportunistically raise more debt: S&P

A growing number of insurers could boost their use of debt over 2020-2021, with the industry retaining good market access at favourable coupon rates, S&P Global Ratings has said in a new report.

Wed 24 Jun 2020

Acquisitive Worldwide Facilities hires M&A head

News

People Moves

Acquisitive Worldwide Facilities hires M&A head

Expansive wholesaler Worldwide Facilities has hired former Aon Securities director Brad Perilman from Atlas General Holdings to oversee its merger and acquisition activities.

Wed 24 Jun 2020

Orchid hires Banker’s Bowie as head of personal lines

News

People Moves

Orchid hires Banker’s Bowie as head of personal lines

US property catastrophe focused Orchid Underwriters Agency has hired Ross Bowie from Bankers Insurance Group (BIG) to head up its growing personal lines operation.

Tue 23 Jun 2020

Ryan Specialty Group confirms All Risks deal

News

M&A

Ryan Specialty Group confirms All Risks deal

Ryan Specialty Group and its smaller rival All Risks have confirmed they have agreed to a transaction that will see the wholeale brokerage and managed underwriting firms combine in a move first revealed by The Insurer earlier this month.

Tue 23 Jun 2020

Trean IPO to help fuel growth and retain more business

News

Capital

Trean IPO to help fuel growth and retain more business

Program carrier and MGA platform Trean Insurance Group (TIG) will use a portion of proceeds from its planned IPO to add to its capital base in a move it says will give it the opportunity to access additional business.

Tue 23 Jun 2020

Palomar unveils platform to broaden offering into booming E&S market

News

Capital raising

Palomar unveils platform to broaden offering into booming E&S market

Specialty insurer Palomar Holdings is making a move into the rapidly expanding E&S market with the launch of Palomar Excess and Surplus Insurance Company (PESIC) to begin writing business during the second half of this year.

Tue 23 Jun 2020

Alliant hires another Aon exec with M&A appointment

News

People Moves

Alliant hires another Aon exec with M&A appointment

Alliant has hired Dan Schoenberg as co-leader of its mergers and acquisitions division with the executive joining from Aon, which is currently involved in litigation with Alliant over previous hires.

Tue 23 Jun 2020

CIAB among 22 associations calling for a US trade credit reinsurance backstop

News

Legal/ Regulatory

CIAB among 22 associations calling for a US trade credit reinsurance backstop

A group of 22 US retail, manufacturing and service associations – including the Council of Insurance Agents & Brokers – have written to the US Treasury, Department of Commerce and Federal Reserve to urge support for the establishment of a trade credit backstop, The Insurer can reveal.

Tue 23 Jun 2020

Investors sell off after BRP announces proposed offering

News

Capital raising

Investors sell off after BRP announces proposed offering

BRP Group’s share price fell by more than 10 percent during morning trading as investors responded to the Tampa, Florida-based company’s announcement on Monday of a proposed underwritten offering of 11.5mn shares of its Class A common stock.

Tue 23 Jun 2020