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P&C software firm Duck Creek receives $230mn investment

News

Capital raising

P&C software firm Duck Creek receives $230mn investment

Duck Creek Technologies, a provider of software to the property casualty insurance industry, has received a $230mn investment from Kayne Anderson Rudnick Investment Management and Whale Rock Capital Management, along with prior investors.

Thu 11 Jun 2020

BMS takes WTW’s Macrane as US casualty fac leader

News

People Moves

BMS takes WTW’s Macrane as US casualty fac leader

Expansive broker BMS has continued its US reinsurance build-out with the hire of Rich Macrane from Willis Towers Watson to lead its casualty facultative practice as executive vice president.

Thu 11 Jun 2020

Zurich adds EY’s Bates as senior climate change risk consultant

News

People Moves

Zurich adds EY’s Bates as senior climate change risk consultant

Zurich has named Belinda Bates as senior risk consultant climate change in its commercial insurance unit.

Thu 11 Jun 2020

Enstar provides $130mn ADC to rebooted StarStone US platform

News

Legacy

Enstar provides $130mn ADC to rebooted StarStone US platform

Live-to-legacy carrier Enstar is entering into a loss portfolio transfer and adverse development cover (ADC) providing a $130mn cap on reserve deterioration to the StarStone US entities that are being rebooted with PE backing.

Thu 11 Jun 2020

E&S specialist Kinsale upgraded to A by AM Best

News

Rating actions

E&S specialist Kinsale upgraded to A by AM Best

A consistently strong performance when compared with its peers in the booming E&S market has seen AM Best upgrade the ratings of Kinsale Insurance Company.

Thu 11 Jun 2020

Insurance law body to tackle Covid-19 impact on sport cancellations

News

Legal dispute

Insurance law body to tackle Covid-19 impact on sport cancellations

The Forum of Insurance Lawyers (FOIL) has formed a group to examine the legal implications of the cancellation of major sporting events including Premier League football as a result of the Covid-19 pandemic and how that could impact the insurance sector.

Thu 11 Jun 2020

Comment

Jumping on the E&S juggernaut

The news flow of the past week has provided irrefutable evidence that the US E&S sector is the hottest place in the global P&C market right now, with private equity money flooding in to back carriers and mega distribution M&A taking center stage.

Thu 11 Jun 2020

Great American names new divisional president for trucking unit

News

People Moves

Great American names new divisional president for trucking unit

Great American Insurance Group has promoted Randal Smith to divisional president for its trucking operation.

Thu 11 Jun 2020

Scor’s Channel Syndicate looks to Lloyd’s and Inter Hannover for senior hires

News

People Moves

Scor’s Channel Syndicate looks to Lloyd’s and Inter Hannover for senior hires

Scor’s Channel Syndicate has named Christian Stanley as head of underwriting insight and Christianna Vandoorne as head of terrorism and political violence in a series of senior management changes at the French reinsurer’s London specialty insurance platform.

Thu 11 Jun 2020

Axa faces another restaurant BI policy court ruling

News

COVID-19

Axa faces another restaurant BI policy court ruling

The owners of a restaurant in France’s Beaujolais wine region have launched a legal action against the insurance giant Axa for refusing to cover losses they suffered during the government-enforced coronavirus lockdown.

Thu 11 Jun 2020

French Gov delays pandemic working group findings; leaning towards obligatory premium

News

COVID-19

French Gov delays pandemic working group findings; leaning towards obligatory premium

The findings of a government working group launched by the French Ministry of Economy and Finance to outline a potential insurance solution to cover future pandemics such as the Covid-19 outbreak will now publish later this month as it wrestles between pure pandemic solutions or a broader approach, The Insurer can reveal.

Thu 11 Jun 2020

Thomas Miller names Bergert to succeed Braun as CEO of Hamburg operations

News

Marine

Thomas Miller names Bergert to succeed Braun as CEO of Hamburg operations

Thomas Miller has named Frank Bergert as CEO of Thomas Miller Hamburg, succeeding Tobias Braun with immediate effect.

Thu 11 Jun 2020

Generali considers offloading Swiss insurance operations: reports

News

M&A

Generali considers offloading Swiss insurance operations: reports

Italian insurance giant Assicurazioni Generali SpA is exploring strategic options for its Swiss insurance operations, according to reports citing people familiar with the matter.

Thu 11 Jun 2020

News

CIAM calls for Kessler to outline succession planning as Scor fires back

The war-of-words between CIAM and French reinsurer Scor continues to rage on, with the activist investor publishing a 32-page whitepaper entitled ‘The Acute Need for a Clear Succession Plan’.

Thu 11 Jun 2020

News

Lloyd’s takes steps to tackle racism with new inclusion initiatives

Lloyd’s has become the latest industry heavyweight to add its voice in support of the civil rights movement that has arisen across the US and launched a series of initiatives to tackle “systematic and structural racism” and improve the experience of black and minority ethnic talent in the Lloyd’s market.

Thu 11 Jun 2020

Worldwide Facilities continues on M&A path with life and health deal

News

M&A

Worldwide Facilities continues on M&A path with life and health deal

Wholesale broker Worldwide Facilities has entered the life and health market after it acquired full service medical stop-loss focused managing general underwriter Strategic Underwriting Solutions (SUS).

Thu 11 Jun 2020