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News

People Moves

Hannover Re Bermuda CEO Rentrup retires

Longstanding Hannover Re Bermuda CEO Konrad Rentrup is to retire after more than 30 years with the German reinsurance giant, handing over the reins to Chantal Cardinez.

Tue 26 May 2020

Nexus builds out US financial lines team with Simmons hire

News

People Moves

Nexus builds out US financial lines team with Simmons hire

MGA Nexus Group has added Bruce Simmons to its US specialty platform as vice president – management and professional liability.

Tue 26 May 2020

QBE’s reinsurance will cap UK BI claims at $75mn

News

COVID-19

QBE’s reinsurance will cap UK BI claims at $75mn

Australian-headquartered carrier QBE says its exposure to UK Covid-19 related business interruption losses will not exceed $75mn, with the carrier highlighting that its portfolio is protected from any further claims by its reinsurance programme.

Tue 26 May 2020

HIIG replaces founder and CEO Stephen Way

News

People Moves

HIIG replaces founder and CEO Stephen Way

Houston International Insurance Group (HIIG) has parted ways with its founder and chief executive officer Stephen Way, in a surprise move that sees the carrier bring in Andrew Robinson to take over the reins.

Tue 26 May 2020

News

COVID-19

Lloyd’s dragged into the Covid-19 shame game

It has taken a while, but Lloyd’s was finally dragged into the Kangaroo Court of UK insurer public shaming this weekend over disputed Covid-19 BI claims.

Tue 26 May 2020

WTW offloads financial advisory arm to Nordic Capital

News

M&A

WTW offloads financial advisory arm to Nordic Capital

Willis Towers Watson is selling its Swedish financial advisor, Max Matthiessen, to private equity firm Nordic Capital for an undisclosed sum.

Tue 26 May 2020

News

Aviation

Aviation insurers face losses from Marsh’s Boeing financing consortium

Allianz, Axis, Fidelis and Sompo International face the prospect of mounting losses stemming from Marsh’s Aircraft Finance Insurance Consortium (AFIC) as a result of grounding of fleets during the Covid-19 pandemic and subsequent pressure on the profitability of airlines, The Insurer can reveal.

Tue 26 May 2020

Podcast

KBW’s William Hawkins and Meyer Shields on the Q1 results season: Part II

In the second half of our interview on The Best Policy, KBW’s William Hawkins and Meyer Shields focus on what the impact of Covid-19 dislocation may mean for the year ahead.

Tue 26 May 2020

Analysis

Beazley and Lancashire lead green week for Euro-listed P&C stocks

London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.

Tue 26 May 2020

News

Kessler agrees remuneration reduction

Scor chairman and CEO Denis Kessler has agreed a 30 percent cut in his 2019 variable compensation, the equivalent of Eur325,260.

Tue 26 May 2020

News

Environmental

Ironshore expands environmental contractors coverage with PL addition

Ironshore has broadened its environmental contractors environmental legal liability product to include professional liability for certain contractor classes.

Fri 22 May 2020

News

AI insurtech Clara Analytics raises $25mn in Series B funding

Clara Analytics, a provider of AI technology for commercial insurance claims handling, has closed $25mn in Series B funding, bringing its total funding to $36.5mn.

Fri 22 May 2020

News

Personal auto

UK auto insurtech By Miles raises £15m

UK auto insurtech, whose policies are underwritten by a panel of insurers including Axa Insurance UK and Tradewise Insurance, has closed a £15m ($18.3mn) Series B funding round.

Fri 22 May 2020

French court rules Axa must pay restaurant owner’s Covid-19 losses: reports

News

Business interruption

French court rules Axa must pay restaurant owner’s Covid-19 losses: reports

A Paris court has ruled that Axa must pay two months’ worth of Covid-19 related losses to a restaurant owner, Reuters has reported.

Fri 22 May 2020

Problems with Pria spur trade groups into action

Analysis

Business interruption

Problems with Pria spur trade groups into action

US industry trade groups have suggested their own proposal for covering future outbreaks, and provide a number of reasons for why they want the Pandemic Risk Insurance Program (Pria) proposed by House Democrats to be ripped up.

Fri 22 May 2020

PartnerRe promotes Piché to president of Canadian life and health

News

People Moves

PartnerRe promotes Piché to president of Canadian life and health

PartnerRe has promoted André Piché to president of the Canadian division of its growing life and health reinsurance business.

Fri 22 May 2020