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Commercial property sees record rate highs in Q1 on Ivans index

Analysis

Commercial insurance

Commercial property sees record rate highs in Q1 on Ivans index

Average US commercial property insurance rate increases hit record quarterly highs during the first three months of 2020, according to the latest data from the Ivans Index.

Wed 8 Apr 2020

Stonybrook adds Bermuda presence as Greg Morrison joins board

News

Capital

Stonybrook adds Bermuda presence as Greg Morrison joins board

Ambitious boutique insurance industry advisory firm Stonybrook Capital & Risk Management has appointed Bermuda-based former Platinum Underwriters Holdings CEO Greg Morrison to its board of directors, The Insurer can reveal.

Wed 8 Apr 2020

Aon launches unit to support distressed clients

News

D&O

Aon launches unit to support distressed clients

Aon has launched a new US-focussed unit dedicated to supporting distressed companies as they consider bankruptcy or a wider restructuring, The Insurer can reveal.

Wed 8 Apr 2020

Ex-AGCS specialty CUO O’Neill resurfaces as RKH Specialty APAC leader

News

People Moves

Ex-AGCS specialty CUO O’Neill resurfaces as RKH Specialty APAC leader

RKH Specialty has appointed Paul O’Neill as chief executive officer of its Asia Pacific operation, with the former Allianz Global Corporate & Specialty (AGCS) executive returning to the industry after an eight-month hiatus.

Wed 8 Apr 2020

Carriers and reinsurers wary about new programs in MGA space

News

COVID-19

Carriers and reinsurers wary about new programs in MGA space

BMS has reported that Covid-19 is making carriers and reinsurers circumspect about taking on new programs while MGAs are seeing a lag in business activity because of the outbreak.

Wed 8 Apr 2020

Further management moves at beleaguered IRB Brasil Re

News

People Moves

Further management moves at beleaguered IRB Brasil Re

IRB Brasil Re has made yet more management changes in moves which interim chief executive Antônio Cássio said will strengthen the reinsurer’s corporate governance, with the company making two promotions and bringing in a new property and casualty underwriting director.

Wed 8 Apr 2020

Analysis

Credit investors beneficiaries of European dividend moves

The increased, but inconsistent, regulatory moves across Europe to discourage insurers from paying dividends amid coronavirus uncertainty will benefit holders of debt issued by the continent’s insurance companies, according to Twelve Capital.

Wed 8 Apr 2020

Gallagher names Collings UK broking and placement MD

News

People Moves

Gallagher names Collings UK broking and placement MD

Broker Arthur J Gallagher has promoted Simon Collings to the role of managing director of its national broking and placement team, part of the UK retail division, to replace Mark Armitage who retired in March.

Wed 8 Apr 2020

News

COVID-19

Lloyd’s e-placements rocket as Covid-19 forces building closure

Risks placed on the London Market’s electronic placement platform, Placing Platform Limited (PPL), reached a record high volume of trade last week, with placements soaring to 5,600 and all other KPIs pointing toward adoption growing at pace, figures released by PPL today show.

Wed 8 Apr 2020

Wall Street futures tick up after volatile European and Asian trading

News

COVID-19

Wall Street futures tick up after volatile European and Asian trading

US stock futures wavered on Wednesday, following a tumultuous session on Wall Street that saw a strong rally in the major benchmark indexes suddenly turnaround late on Tuesday.

Wed 8 Apr 2020

Protecdiv adds former Texas commissioner Montemayor to board

News

People Moves

Protecdiv adds former Texas commissioner Montemayor to board

Philadelphia-based broker Protecdiv has added Jose Montemayor to its board.

Wed 8 Apr 2020

News

Buffett’s Geico raises the bar with $2.5bn credit offer as coronavirus cuts driving

US auto insurance powerhouse Geico is to offer $2.5bn of credits to its 19 million auto and motorcycle policyholders, reflecting the decline in driving as a result of the coronavirus pandemic.

Wed 8 Apr 2020

Podcast

Stephen Catlin on what the COVID-19 crisis means: Part II

In the second half of our interview, Convex Group co-founder Stephen Catlin shares his thoughts on the quantum for COVID-19 total losses, what the consequences will be if the industry does not respond adequately, and more…

Wed 8 Apr 2020

News

COVID-19

Fitch ratings at risk as Covid-19 assessments begin

Ratings agency Fitch has defined the assumptions it will use to assess insurance sector firms amid the coronavirus pandemic, and will now test the international ratings of all the insurance companies within its coverage network.

Wed 8 Apr 2020

European (re)insurance stocks slip on failed virus response agreement

News

COVID-19

European (re)insurance stocks slip on failed virus response agreement

European (re)insurance stocks fell on Wednesday morning to end a two-day rally after eurozone finance ministers failed to reach a deal on a common response to the coronavirus crisis.

Wed 8 Apr 2020

PRA welcomes “prudent” move of UK insurers to suspend dividends

News

Results

PRA welcomes “prudent” move of UK insurers to suspend dividends

The UK regulator the Prudential Regulatory Authority (PRA) has welcomed the actions of London-listed insurance companies – including Hiscox and RSA – to suspend dividend pay-outs in the wake of the Covid-19 pandemic.

Wed 8 Apr 2020