Talanx’s Leue affirms 2020 outlook amid “manageable” coronavirus conditions

Chairman of the board at Talanx, Torsten Leue, has affirmed the group’s forecast for an improved net income of between Eur900-950mn ($1-1.06bn) in 2020, despite fears of coronavirus sparking a global recession and the battering global financial markets have already taken as the disease continues to spread.

Mon 16 Mar 2020

WTW names Finbow global head of Finex financial institutions

Susan Finbow has been appointed global head of Finex financial institutions at Willis Towers Watson, replacing Allison Barrett, who joined AIG late last year.

Mon 16 Mar 2020

Liberty Mutual Re appoints Axis’ Carroll senior aviation treaty underwriter

Liberty Mutual Re (LM Re) has brought in Dan Carroll from Axis to the role of senior underwriter within its aviation treaty reinsurance division.

Mon 16 Mar 2020

Freezing weather and burst pipe claims: Are insurers prepared for another ‘Beast from the East’?

Mon 16 Mar 2020

Lighthouse folds in Florida’s Prepared and hires Howard as president

Louisiana’s Lighthouse Property Insurance Corporation is acquiring its sister company Prepared Insurance Company in a move that will create significantly larger surplus to write business in Florida’s challenged homeowners market and generate reinsurance synergies ahead of a harder 1 June renewal.

Mon 16 Mar 2020

Investors send US P/C stocks plummeting in early trading

After another trading pause was triggered when markets opened, US-listed (re)insurance stocks fell dramatically once again.

Mon 16 Mar 2020

RIMS 2020 cancelled

The RIMS 2020 Annual Conference & Exhibition has been cancelled, with organisers stating that “it became abundantly clear” that doing so was in the best interest of its members, conference participants and employees.

Mon 16 Mar 2020

Canopius acquires Bermuda ILS firm MultiStrat Holdings

Top five Lloyd’s insurer Canopius has acquired a majority stake in Bermuda-headquartered casualty reinsurance group MultiStrat Holdings Ltd.

Mon 16 Mar 2020

Mango named Everest Re group CRO as Passante takes ERM role

Everest Re has promoted Don Mango to Everest Group chief risk officer (CRO) and chief actuary, succeeding Tom Passante, who will take on a role as a senior leader of the Bermudian’s global enterprise risk management (ERM) function.

Mon 16 Mar 2020

The biggest losers from a wild week for US (re)insurance stocks

The share prices of AIG, Argo and Greenlight Re all fell more than 20 percent in a historically bad week for US stocks, while the negative impact on Aon’s share price from the broking giant’s proposed takeover of Willis was exacerbated amid the chaos.

Mon 16 Mar 2020

Lloyd’s calls on market to quantify Covid-19 exposures

Lloyd’s has ordered each managing agent to outline its understanding of the potential losses and exposures it faces today as well as an estimate of total potential losses, in response to the escalating coronavirus situation.

Mon 16 Mar 2020

Pen and Markel extend $31mn equestrian tie-up

Pen Underwriting has renewed its capacity deal with Markel, which will see the carrier provide backing for up to £25mn ($30.7mn) for the Gallagher-owned MGA’s equestrian products over the next three years.

Mon 16 Mar 2020

London insurance stocks tumble despite Fed’s coronavirus action

London-listed insurance stocks fell sharply at the opening bell on Monday despite efforts by the US Federal Reserve which slashed interest rates last night in an emergency move to help combat the economic impact of the coronavirus pandemic. 

Mon 16 Mar 2020

EC3 Brokers launches finpro division with WTW’s Purdy

EC3 Brokers has appointed David Purdy as the divisional director of its new international financial and professional lines division.

Mon 16 Mar 2020

R&Q launches £2mn share repurchase programme

London-listed legacy and program specialist R&Q has announced plans to repurchase up to £2mn ($2.5mn) of the company’s ordinary shares of 2 pence each.

Mon 16 Mar 2020

Remember Heath at times of crisis

Goodwill and trust goes a long way in (re)insurance…

Mon 16 Mar 2020