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Allianz eyes Vietnam P&C market: reports

News

M&A

Allianz eyes Vietnam P&C market: reports

Allianz is pursuing plans to enter the Vietnam property and casualty (P&C) market next year as the German insurance giant continues to target expansion in Asia, according to reports.

Fri 5 Jun 2020

News

Glaser: “Sanity has prevailed” on JLT deal with growth the focus despite Covid-19

Given the prevailing issues of Covid-19, market dislocation, implications of the Aon-WTW tie-up and, now, the troubling social unrest, MMC president and CEO Dan Glaser says “sanity has [at last] prevailed” in relation to speculation around MMC’s £4.3bn mega-acquisition of smaller rival JLT, which closed last year.

Fri 5 Jun 2020

News

COVID-19

Lloyd’s carrier Ark looks for $750mn-$1bn in post Covid-19 PE raise

Lloyd’s insurer Ark is looking to raise $750mn to $1bn to capitalise on the hardening specialty (re)insurance markets and form a Class 4 Bermudian reinsurer, The Insurer can reveal.

Fri 5 Jun 2020

Analysis

Insurance industry responds as racial injustice takes centre stage

Executives from across the industry have responded to the civil rights protests that have swept the US by calling on companies and individuals alike to stand up to racism and discrimination.

Fri 5 Jun 2020

Hallmark up 60% as US-listed P&C stocks surge on Florida rate hardening

Analysis

COVID-19

Hallmark up 60% as US-listed P&C stocks surge on Florida rate hardening

Stocks in specialty insurer Hallmark Financial have surged over 60 percent so far this week to lead a widespread rally in US-listed P&C carriers and brokers driven by reports of significant market hardening at the 1 June Florida renewals and continued optimism over the reopening of major economies.

Fri 5 Jun 2020

Topsail Re adds to roster with Arch Re Hubicki hire

News

People Moves

Topsail Re adds to roster with Arch Re Hubicki hire

Topsail Re has continued to build out its ranks with the reinsurer bringing in Eric Hubicki from Arch Re, The Insurer can reveal.

Fri 5 Jun 2020

Hiscox Action Group launches £52mn BI claim

News

COVID-19

Hiscox Action Group launches £52mn BI claim

Lawyers representing the Hiscox Action Group (HAG) have written to Hiscox Insurance seeking £52mn ($65.7mn) for unpaid business interruption claims and proposing an expedited arbitration process if the carrier does not accept the claim.

Fri 5 Jun 2020

Mishcon targets QBE with dental practice BI group action

News

COVID-19

Mishcon targets QBE with dental practice BI group action

Law firm Mishcon de Reya LLP has received the greenlight from litigation funders to launch a coordinated legal claim for dental practices with rejected business interruption (BI) policies underwritten by QBE.

Fri 5 Jun 2020

News

Iordanou and Hendrick linked with PE-backed $1bn start-up

Former Arch chairman and CEO Dinos Iordanou and ex AXA XL CEO Greg Hendrick are linked with a proposed $1bn carrier start-up with backing from Hellman & Friedman (H&F) and The Carlyle Group to initially focus on opportunities in the E&S and reinsurance markets, The Insurer can reveal.

Fri 5 Jun 2020

Swiss Re up 17% as European P&C stocks buoyed by Florida rate hardening

Analysis

Rates

Swiss Re up 17% as European P&C stocks buoyed by Florida rate hardening

European P&C stocks have marched higher so far this week with Swiss Re registering gains of almost 17 percent over the four day period as investors were buoyed by reports of significant market hardening at the 1 June Florida renewals and continued optimism over the reopening of major economies.

Fri 5 Jun 2020

Arch International appoints distribution head Williams as Syndicate 1955 active underwriter

News

People Moves

Arch International appoints distribution head Williams as Syndicate 1955 active underwriter

Arch Insurance has confirmed the senior underwriting team of Syndicate 1955, the Barbican Lloyd’s platform acquired by the group last year.

Fri 5 Jun 2020

News

Legacy

R&Q buys NationBuilders captive

Expansive London-listed R&Q has agreed a deal to buy Washington DC domiciled captive NationsBuilders Insurance Company (NBIC) through its wholly owned Vermont subsidiary ICDC.

Fri 5 Jun 2020

News

Business interruption

Rims says Pria is “crucially important”

Rims has announced its support for the Pandemic Risk Insurance Act of 2020 (Pria) and launched a grassroots effort to get the bill passed.

Fri 5 Jun 2020

Weston completes Anchor Specialty acquisition

News

M&A

Weston completes Anchor Specialty acquisition

Florida’s Weston Insurance has completed its acquisition of Texas carrier Anchor Specialty Insurance and its associated MGA.

Fri 5 Jun 2020

Root branches out into homeowners with Homesite partnership

News

Homeowners insurance

Root branches out into homeowners with Homesite partnership

Auto insurtech Root has launched a homeowners insurance product in a partnership with American Family Insurance affiliate Homesite.

Fri 5 Jun 2020

Syndicates seeking Lloyd’s sign-off to take advantage of hardening market

News

COVID-19

Syndicates seeking Lloyd’s sign-off to take advantage of hardening market

Syndicates are asking the Corporation of Lloyd’s to sign off on mid-year increases to their 2020 allocated capacity to allow them to take advantage of increasing rates and improvements in terms and conditions spurred on by the Covid-19 outbreak.

Fri 5 Jun 2020