Search | The Insurer TV

RiverStone acquires run-off Skuld Syndicate 1897

News

Legacy

RiverStone acquires run-off Skuld Syndicate 1897

Lloyd’s legacy specialist RiverStone Group is to acquire the defunct Skuld Syndicate 1897 via the sale of the corporate members that capitalised the previously loss-making syndicate.

Tue 2 Jun 2020

News

FCA: Hiscox issued nearly half of all BI policies in High Court test case

Almost half of all the 78 UK insurance policies being examined by the High Court to determine whether they cover pandemic BI losses were issued by Hiscox plc, analysis by The Insurer shows.

Tue 2 Jun 2020

Sunak mulls national insurance holidays for firms as part of coronavirus recovery package: reports

News

Legal/ Regulatory

Sunak mulls national insurance holidays for firms as part of coronavirus recovery package: reports

UK Chancellor Rishi Sunak is considering national insurance holidays for companies outside of London as part of an economic recovery stimulus package set to be announced in July, according to reports.

Tue 2 Jun 2020

Talanx names Wicke CFO to replace Querner

News

People Moves

Talanx names Wicke CFO to replace Querner

German insurance giant Talanx – parent company of Hannover Re – has appointed Jan Wicke its next CFO, succeeding Immo Querner, who will leave the company “on the best of terms and by mutual agreement” at the end of August.

Tue 2 Jun 2020

1 June property cat pricing up 26.1%: Hyperion X

News

Property catastrophe

1 June property cat pricing up 26.1%: Hyperion X

The average risk-adjusted rate increase at the 1 June Florida-focused property cat renewal was 26.1 percent, according to data from Hyperion X Analytics.

Tue 2 Jun 2020

In-N-Out Burger sues Zurich in BI beef over $250mn limit policy

News

Business interruption

In-N-Out Burger sues Zurich in BI beef over $250mn limit policy

In-N-Out Burger has sued Zurich for denying coverage of Covid-19 business interruption (BI) losses under a policy that the popular US West Coast burger chain says contains no virus or infectious diseases exclusions.

Tue 2 Jun 2020

Two casinos sue FM Global over Covid-19 BI losses

News

Business interruption

Two casinos sue FM Global over Covid-19 BI losses

FM Global has been sued by two casinos over business interruption (BI) losses resulting from Covid-19, with the lawsuits demanding payouts on policies that provide hundreds of millions of dollars of limit.

Tue 2 Jun 2020

CCRIF partners with Atlantic Council to develop new offerings

News

Parametric

CCRIF partners with Atlantic Council to develop new offerings

Risk pooling facility CCRIF SPC has partnered with US think tank The Atlantic Council to develop new solutions in both the Caribbean and around the world with an early focus being the development of a new extreme heat risk transfer facility.

Tue 2 Jun 2020

Industry veteran Becker takes seat on Axis board

News

People Moves

Industry veteran Becker takes seat on Axis board

Marty Becker has joined the Axis Capital’s board of directors just two months after stepping down as chairman of Australian insurance giant QBE.

Mon 1 Jun 2020

News

Legacy

Aspen completes ADC with Enstar

Aspen and Enstar have completed their previously announced multi-line adverse development cover (ADC) deal that has seen the Apollo-owned (re)insurer secure some $1.02bn of protection for a premium of $770mn.

Mon 1 Jun 2020

Analysts downplay US riots loss potential but highlight cumulative impact

News

Capital

Analysts downplay US riots loss potential but highlight cumulative impact

Equity analysts have said that the ongoing US riots currently don’t look like having a significant impact on the insurance industry in isolation, but warned that the combination with Covid-19, H1 weather losses and an active hurricane season could compound to be a capital event for some carriers in 2020.

Mon 1 Jun 2020

Lloyd’s names Lipman new Canada president

News

People Moves

Lloyd’s names Lipman new Canada president

Lloyd’s has named Marc Lipman as the new president of its Canadian operation, replacing Lisa Duval in the role who is returning to London.

Mon 1 Jun 2020

News

Cyber

Aon names Rieth new US cyber practice leader

Aon has appointed Brent Rieth as the new practice leader for its US cyber solutions errors and omissions (E&O) and cyber broking team.

Mon 1 Jun 2020

News

K2 International launches following close of Pioneer takeover

US program manager K2 Insurance Services has established K2 International, a London-based specialty insurance and reinsurance underwriting platform.

Mon 1 Jun 2020

News

SSL Endeavour rebrands as Oneglobal

SSL Endeavour has changed its name to Oneglobal Broking, and said it has ambitious plans for growth.

Mon 1 Jun 2020

Under spotlight UK carriers respond to FCA BI test case

News

Business interruption

Under spotlight UK carriers respond to FCA BI test case

Four UK insurers – Argenta, RSA, Hiscox and Zurich – have responded to news that they have been selected by the UK’s Financial Conduct Authority to participate in the City watchdog’s landmark High Court test case into disputed business interruption claims.

Mon 1 Jun 2020