Search | The Insurer TV

Pricing accelerated in April across most US commercial lines: Ivans

Analysis

Commercial insurance

Pricing accelerated in April across most US commercial lines: Ivans

Most lines of US commercial insurance saw accelerating renewal rates in April compared to March 2020, according to the latest Ivans Index update.

Tue 12 May 2020

News

Results

ProSight delivers improving underwriting results in Q1

ProSight Global reported a modest improvement in its combined ratio in Q1 as it said its business had so far seen limited impact from Covid-19 on underwriting results, but detailed the drag the pandemic is expected to have on its full-year numbers.

Tue 12 May 2020

S&P goes negative on Axis ratings as Covid-19 delays turnaround

News

Rating actions

S&P goes negative on Axis ratings as Covid-19 delays turnaround

Axis Capital has seen its ratings outlook revised from stable to negative by S&P Global Ratings after the (re)insurer posted a net loss of $185mn for 2020’s first quarter.

Mon 11 May 2020

AFG reports highest pricing in P&C unit for over five years

News

Rates

AFG reports highest pricing in P&C unit for over five years

American Financial Group (AFG) has revealed pricing in its specialty P&C group is the highest it has achieved in over five years, while announcing first quarter results that included the run-off of Neon dragging down premium growth.

Mon 11 May 2020

News

COVID-19

Healthcare rates climb as insurers face Covid-19, abuse and opioid battles

Healthcare professional liability underwriters have been quick to impose Covid-19 exclusions and limitations on new and renewal business, but insureds are also having to contend with coverage cutbacks for sexual molestation and opioids against a backdrop of rising rates.

Mon 11 May 2020

Hub buys New York-based agency The B&G Group

News

M&A

Hub buys New York-based agency The B&G Group

Hub International has committed to staying active in M&A during the Covid-19 crisis with the acquisition of the assets of The B&G Group, a New Plainview, New York-based insurance agency with over 100 staff.

Mon 11 May 2020

News

FinPro leads the way as global insurance pricing jumps 14% in Q1: Marsh

The Marsh Global Insurance Market Index has revealed that average pricing rose 14 percent in the first quarter, the 10th consecutive increase and the largest year-over-year increase since the index was established in 2012.

Mon 11 May 2020

CEO of Florida’s FCCI takes leave of absence after reported arrest

News

Commercial insurance

CEO of Florida’s FCCI takes leave of absence after reported arrest

Florida-based regional insurer FCCI Insurance Group has announced its chairman, president and CEO Craig Johnson has taken a leave of absence following reports that he was arrested for allegedly resisting arrest and for battery on a police officer.

Mon 11 May 2020

IRB Brasil Re shares slide on liquidity fears

News

Legal/ Regulatory

IRB Brasil Re shares slide on liquidity fears

IRB Brasil Re shares were trading down 14 percent today after the reinsurer confirmed it is being subjected to an inspection by Brazil’s regulator SUSEP over potential liquidity issues.

Mon 11 May 2020

News

AIG UK reports 96.4% CR at FY19

AIG UK has reported a combined ratio of 96.4 percent for 2019, the unit’s first full year of operation following the restructure of AIG’s European business in December 2018.

Mon 11 May 2020

Liberty builds out and shuffles claims team

News

People Moves

Liberty builds out and shuffles claims team

Liberty Speciality Markets (LSM) has promoted Gavin Coley to head of speciality claims while Kevin Miller has joined as energy, property and construction technical claims lead, reporting to Coley, both roles are based in London.

Mon 11 May 2020

Allied World takes Markel’s Leeret to head programs

News

People Moves

Allied World takes Markel’s Leeret to head programs

Allied World has hired Stephen Leeret to run its US programs business after taking the executive from Markel, The Insurer can reveal.

Mon 11 May 2020

Aon hires TMK IP head Lewis and launches $100mn MGA

News

People Moves

Aon hires TMK IP head Lewis and launches $100mn MGA

Two years after unveiling a $100mn intellectual property facility led by London-based TMK, Aon said today it has launched an MGA, with the Lloyd’s carrier’s former underwriter Ian Lewis leading the facility.

Mon 11 May 2020

UK trade credit insurance backstop close to being finalised: reports

News

COVID-19

UK trade credit insurance backstop close to being finalised: reports

The UK government is days aways from agreeing a reinsurance scheme to aid trade credit insurers throughout the Covid-19 pandemic.

Mon 11 May 2020

Aon and WTW on hook for $300.4mn in fees if deal breaks down

News

M&A

Aon and WTW on hook for $300.4mn in fees if deal breaks down

Both Aon and Willis Towers Watson (WTW) face a maximum payment of $300.4mn to reimburse the other’s expenses if the deal to combine the two intermediaries falls through.

Mon 11 May 2020

Aon appoints new president for Reinsurance Solutions Canada

News

People Moves

Aon appoints new president for Reinsurance Solutions Canada

Aon has promoted Matt Wolfe to president of its Reinsurance Solutions operation in Canada.

Mon 11 May 2020