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Axa XL builds UK broker distribution team with WTW and Generali hires

News

People Moves

Axa XL builds UK broker distribution team with WTW and Generali hires

Axa XL has continued the build out of its UK broker distribution team with the appointment of Michael Clarke as regional broker distribution leader and Robyn Warke as broker distribution leader.

Wed 17 Jun 2020

Covid-19 to have short-term impact on insurtech investments: Aon COO Bruno

News

Private Equity

Covid-19 to have short-term impact on insurtech investments: Aon COO Bruno

The steady rise in insurtech investments in recent years is likely to be slowed by the economic fall-out of Covid-19 – but only in the short-term – John Bruno, chief operating officer and CEO of data & analytic services at Aon has said.

Wed 17 Jun 2020

News

Enstar considers “strategic options” for run-off StarStone International

Legacy-to-live powerhouse Enstar confirmed it is considering “strategic options” for its StarStone International operations after the Bermudian disclosed plans to put the unit into run-off.

Wed 17 Jun 2020

La Réunion Aérienne hires MS Amlin claims veteran Smith

News

Aviation

La Réunion Aérienne hires MS Amlin claims veteran Smith

French aviation and space insurance consortium La Réunion Aérienne (LRA) has hired long-serving MS Amlin claims specialist Julian Smith.

Wed 17 Jun 2020

Norwegian Hull Club leads Höegh Xiamen hull and machinery loss

News

Losses

Norwegian Hull Club leads Höegh Xiamen hull and machinery loss

The Norwegian Hull Club is the lead carrier on the hull and machinery slip for Höegh Xiamen, the car carrier that caught fire at a cargo facility in Jacksonville, Florida on 4 June, The Insurer can reveal.

Wed 17 Jun 2020

IRB further delays publication of Q1 results

News

People Moves

IRB further delays publication of Q1 results

IRB Brasil Re has once again delayed publication of its first quarter 2020 results with the company now set to reveal its figures on 29 June.

Wed 17 Jun 2020

31% of US brokers expect organic growth over 5% in 2020: MarshBerry survey

News

M&A

31% of US brokers expect organic growth over 5% in 2020: MarshBerry survey

A MarshBerry canvassing of more than half of the top 100 US brokers has revealed optimism over organic growth this year while interest in M&A remains high.

Wed 17 Jun 2020

News

Hiscox partners with insurtech Thimble for short-term business insurance

Hiscox will offer short-term liability insurance, available by the hour, day or month, through US insurtech Thimble, with the two companies planning further collaborations.

Wed 17 Jun 2020

Aquiline-backed Relation buys Summers Thompson Lowry

News

M&A

Aquiline-backed Relation buys Summers Thompson Lowry

Expansive Aquiline-backed US broker Relation Insurance Services has bought commercial and personal lines P&C broker Summers Thompson Lowry as it continues to build out its platform.

Wed 17 Jun 2020

Cat bonds offering their most attractive entry point in several years: Seo

News

Property reinsurance

Cat bonds offering their most attractive entry point in several years: Seo

Fermat Capital’s John Seo believes the attractive yields available to investors in the ILS market will persist in the medium term but cannot be labelled a new normal.

Tue 16 Jun 2020

S&P highlights Covid-19 film/TV exposures as it goes negative on AGCS

News

Rating actions

S&P highlights Covid-19 film/TV exposures as it goes negative on AGCS

S&P Global has changed its outlook on the AA ratings of Allianz Global Corporate & Specialty (AGCS) from stable to negative as it pointed to the impact of Covid-19 on efforts to improve underwriting results including exposures to film and TV production losses revealed by The Insurer last month.

Tue 16 Jun 2020

Covid-19 wrecks hopes of commercial lines results improvement in 2020: Fitch

News

Commercial insurance

Covid-19 wrecks hopes of commercial lines results improvement in 2020: Fitch

A new report from Fitch Ratings has concluded that US commercial lines performance is unlikely to improve this year given new losses from the coronavirus pandemic and warned the sector’s combined ratio is now more likely to move above 100 percent.

Tue 16 Jun 2020

Twelve Capital refocuses strategy on cat bonds and peak perils private ILS

News

Property reinsurance

Twelve Capital refocuses strategy on cat bonds and peak perils private ILS

Twelve Capital has refocused on the robust cat bond sector and private ILS for better-modelled and understood peak perils such as US hurricanes and California quake after a review of its strategy.

Tue 16 Jun 2020

Program administrator AmTrust Exec unveils commercial crime product

News

Professional lines

Program administrator AmTrust Exec unveils commercial crime product

AmTrust Exec – formed earlier this year when AmTrust Financial Services bought program administrator Euclid Executive Liability Managers – has announced a new commercial crime product for medium- and large-sized businesses.

Tue 16 Jun 2020

News

Scor considering both internal and external candidates for Kessler successor

Scor is considering both internal and external candidates to succeed long-serving chairman and group CEO Denis Kessler with the French reinsurer committing to presenting its succession plan “well in advance” of its 2021 annual general meeting.

Tue 16 Jun 2020

News

COVID-19

Hiscox seeks to use Swedish Covid-19 experience in FCA test case

UK insurer Hiscox may look to Sweden’s experience of the economic impact of Covid-19 to calculate what would have happened to business activity in the UK if policymakers had not imposed such “draconian” lockdown measurers, a High Court hearing heard on Tuesday.

Tue 16 Jun 2020