Search | The Insurer TV

French insurers look to provide Eur2bn future pandemic coverage

News

COVID-19

French insurers look to provide Eur2bn future pandemic coverage

France’s private insurers could provide business interruption cover of up to Eur2bn ($2.2bn) for SMEs hit by the fallout of any future pandemics via an obligatory extension in all business fire or BI policies, under a system proposed by the French Insurance Federation (FFA).

Mon 15 Jun 2020

Analysis

Scor sheds early gains to lead red week for European P&C stocks

Shares in Paris-headquartered Scor shed over 11 percent in a widespread red week for European P&C stocks fuelled by renewed fears over the impact of the coronavirus pandemic.

Mon 15 Jun 2020

Hippo-Spinnaker secures paper for MGA and access to capital for fronting carrier

News

Program

Hippo-Spinnaker secures paper for MGA and access to capital for fronting carrier

Hippo Insurance’s acquisition of Spinnaker guarantees the insurtech homeowners MGA access to A- rated paper and provides the hybrid fronting carrier with access to capital to grow its third-party programs business, according to senior executives at the companies.

Mon 15 Jun 2020

GRP looking to “double in size” in next three years: Margrett

News

M&A

GRP looking to “double in size” in next three years: Margrett

UK broker consolidator Global Risk Partners (GRP) is looking to use the capital support of its new private equity backer – Searchlight Capital Partners – to fuel further M&A that could see the firm “double in size” within the next three years, its co-founder and non-executive chairman David Margrett has said.

Mon 15 Jun 2020

Ark, TMK and Faraday amongst Lloyd’s syndicates imposing SRCC exclusions

News

Commercial property

Ark, TMK and Faraday amongst Lloyd’s syndicates imposing SRCC exclusions

Several Lloyd’s syndicates – including those managed by Ark, TMK and Faraday – are imposing exclusions for strike, riot and civil commotion (SRCC) in large scale property coverage, The Insurer can reveal.

Mon 15 Jun 2020

Cobbs Allen says “enough is enough” in Marsh suit over CAC Specialty hires

News

Legal dispute

Cobbs Allen says “enough is enough” in Marsh suit over CAC Specialty hires

Cobbs Allen has called for the dismissal of an amended complaint filed by Marsh at the end of May, in the latest development in a dispute over almost 40 employees who joined Cobbs Allen’s new broker CAC Specialty.

Fri 12 Jun 2020

James River CEO says pricing possibly best he has ever seen

News

Rates

James River CEO says pricing possibly best he has ever seen

Specialty insurer James River’s CEO Adam Abram has said current pricing is possibly the best he has seen since he joined the industry, a period that includes what is widely acknowledged to be the last true hard market in the early 2000s.

Fri 12 Jun 2020

AM Best puts StarStone US ratings under review

News

Capital

AM Best puts StarStone US ratings under review

AM Best has put the A- financial strength ratings of the US platform of StarStone being relaunched with $850mn of capital under review with negative implications.

Fri 12 Jun 2020

Protective assesses strategic alternatives as board opposes Dowling-Lancer move

News

Commercial auto

Protective assesses strategic alternatives as board opposes Dowling-Lancer move

The board of Protective Insurance Corporation said it is looking at strategic alternatives after deciding a move led by VJ Dowling and Lancer Insurance Company CEO David Delaney to buy up its Class A shares is not in the best interests of the US insurer.

Fri 12 Jun 2020

News

Texas E&S premiums surge 13.4% in May

Excess and surplus lines (E&S) premium in Texas has continued to set a new monthly record each month of 2020, according to May figures from the Surplus Lines Stamping Office of Texas (SLTX).

Fri 12 Jun 2020

News

Travel insurtech MGA Battleface partners with Munich Re

Munich Re’s Roanoke Travel Insurance has partnered with start-up Battleface to launch adventure travel product sales for the MGA in the US.

Fri 12 Jun 2020

Analysis

US landfalling probability rising slower than overall hurricane activity: Twelve Capital

Despite a forecast for an above-average North Atlantic hurricane season, new analysis by Twelve Capital suggests the probability of landfalling hurricanes is closer to the historical mean than the probability of overall activity is.

Fri 12 Jun 2020

News

M&A

McLarens acquires LWI from Crawford

Loss adjuster McLarens has acquired Crawford-backed energy specialist Lloyd Warwick International (LWI) for an undisclosed sum.

Fri 12 Jun 2020

HDI Global looks to Axa XL and MS Amlin to fill board roles

News

People Moves

HDI Global looks to Axa XL and MS Amlin to fill board roles

Hannover-headquartered HDI Global has made two hires to its management board, adding Axa XL’s Mukadder Erdönmez and MS Amlin’s Andreas Luberichs.

Fri 12 Jun 2020

Beach predicts ‘above-average’ hurricane season

News

Losses

Beach predicts ‘above-average’ hurricane season

Acrisure-owned Beach & Associates has added its voice to the consensus forecast of an “above-average” North Atlantic hurricane season, warning the cost of a 2020 landfall hurricane may be “considerably amplified” as a result of the coronavirus pandemic.

Fri 12 Jun 2020

Searchlight completes GRP deal with Bruce taking CEO role

News

M&A

Searchlight completes GRP deal with Bruce taking CEO role

Private equity house Searchlight Capital Partners has completed its acquisition of a majority stake in UK broker consolidator Global Risk Partners (GRP) following regulatory approval in a move that will see GRP managing director Mike Bruce become group chief executive.

Fri 12 Jun 2020