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Greenlight Re to go it alone and buy back stock after strategic review

News

M&A

Greenlight Re to go it alone and buy back stock after strategic review

Shares in Greenlight Capital Re closed up 5.7 percent on 2 April as the company said it will go forward as a standalone business rather than pursue a transaction with a third party following a strategic review with Credit Suisse.

Thu 2 Apr 2020

News

COVID-19

Swiss Re shares trade up as CEO brushes off Covid-19 impact

Shares in Swiss Re were trading up nearly five percent in trading earlier today as the reinsurance giant’s chairman Walter Kielholz and CEO Christian Mumenthaler said the impact of the global pandemic would be “absolutely manageable”.

Thu 2 Apr 2020

News

Plaintiff in long-running WTW merger dispute now demands Aon deal information

The plaintiff in ongoing litigation over the 2016 merger of Willis and Towers Watson has demanded information relating to Aon’s proposed acquisition of the world’s third largest broker, The Insurer can reveal.

Thu 2 Apr 2020

CAC adds to M&A team with Krayer hire from Willis

News

People Moves

CAC adds to M&A team with Krayer hire from Willis

CAC Specialty has made yet another addition to its burgeoning M&A solutions team with the arrival of private equity specialist Ed Krayer from Willis Towers Watson, The Insurer can reveal.

Thu 2 Apr 2020

Marsh looks to put US industry back on front foot over BI

Comment

COVID-19

Marsh looks to put US industry back on front foot over BI

If the US insurance industry’s role is to be a facilitator of economic growth then events of the last few weeks have put it in an invidious position.

Thu 2 Apr 2020

Analysis

COVID-19

How US states are trying to force insurers to pay Covid-19 losses

The bills introduced in US states that would override business interruption policy exclusions for pandemics are broadly similar, but with some differences, with lawyers stating insurers would have a strong legal argument in their favour were any of them enacted.

Thu 2 Apr 2020

Aon completes parent redomicile to Ireland

News

Brexit

Aon completes parent redomicile to Ireland

Aon has completed the move of the jurisdiction of incorporation for the firm’s parent company from London to Ireland.

Thu 2 Apr 2020

News

Wall Street futures point higher as European stocks make timid gains

European (re)insurance stocks made tentative gains in a choppy early trading session on Thursday, following a fresh Asia-Pacific sell-off as investors grappled with the global economic fallout from the intensifying coronavirus outbreak in the US.

Thu 2 Apr 2020

Comment

COVID-19

First, they came for the banks…

The 2008-09 financial crisis was a milestone for P&C insurers.

Thu 2 Apr 2020

Asia-Pacific stocks fall with Wall Street on US coronavirus fears

News

COVID-19

Asia-Pacific stocks fall with Wall Street on US coronavirus fears

Asia-Pacific stocks fell on Thursday following Wall Street into the red after investor confidence took a fresh hit on the intensifying coronavirus outbreak in the United States.

Thu 2 Apr 2020

Apollo returns to profit after 2017-18 turnaround

News

Results

Apollo returns to profit after 2017-18 turnaround

Apollo, the Lloyd’s insurer named in honour of the space flight that first landed man on the moon, welcomed a return to profit last year as a reward for the remedial action it took following heavy losses in 2017-18.

Thu 2 Apr 2020

News

Losses

UK winter storm losses to cost insurers $808mn: Perils

Perils has estimated that insured losses from the recent flooding in the UK during February 2020 combined with November flooding and the 2019/20 windstorm season will cost insurers £650mn ($807.6mn).

Thu 2 Apr 2020

BRP continues buildout with IRP acquisition

News

M&A

BRP continues buildout with IRP acquisition

Expansive broker BRP Group has added another circa $7mn of revenue to its top line after acquiring Oklahoma City-based Insurance Risk Partners.

Thu 2 Apr 2020

News

Capital

PRA warns UK insurers over dividends

UK regulator PRA (Prudential Regulation Authority) has put pressure on the insurance industry over planned dividend payments in a “Dear CEO” letter.

Thu 2 Apr 2020

News

COVID-19

US P&C’s capital base to protect it from Covid-19 downturn, says Moody’s

The US property casualty insurance industry’s strong capital base and liquidity mean it will be able to weather any economic downturn that arises from the coronavirus outbreak, according to Moody’s.

Thu 2 Apr 2020

Divergence between Euro and US/Bermudian prop cat appetite continues to grow

Analysis

Capital

Divergence between Euro and US/Bermudian prop cat appetite continues to grow

There continues to be a growing divergence between the appetites of large European reinsurers and their US and Bermudian counterparts when it comes to deploying capital to property catastrophe risk, Moody’s has reported.

Wed 1 Apr 2020