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Asia-Pacific stocks sold-off with Wall Street tipped to fall on Trump travel ban

News

Results

Asia-Pacific stocks sold-off with Wall Street tipped to fall on Trump travel ban

Asia-Pacific (re)insurance stocks sold-off sharply on Thursday after the World Health Organization declared the coronavirus crisis a pandemic and the US temporarily suspended travel from Europe in response to the outbreak, sending Wall Street futures into a tailspin.

Thu 12 Mar 2020

News

EC3 Brokers establishes US property wholesale division with Besso trio

EC3 Brokers has launched a London-based US property wholesale division with the appointment of a trio of former Besso brokers, The Insurer can reveal.

Thu 12 Mar 2020

News

US listed (re)insurance stocks plunge again led by 10% Argo fall

A highly volatile week for US-listed (re)insurance stocks has continued with coronavirus fears once again sending share prices plunging, and eroding the gains made the previous day.

Wed 11 Mar 2020

Renvyle leaves The Hanover’s program platform

News

Commercial insurance

Renvyle leaves The Hanover’s program platform

Regional president Russell Renvyle has left The Hanover’s program division AIX in the latest in a series of departures from the insurer’s specialty business, The Insurer can reveal.

Wed 11 Mar 2020

Aon-Willis deal “gives less choices”: Hannover Re CEO

News

M&A

Aon-Willis deal “gives less choices”: Hannover Re CEO

Hannover Re CEO Jean-Jacques Henchoz said the proposed giant combination of Aon and Willis will lead to less choices but also has the potential to grow demand for the (re)insurance product.

Wed 11 Mar 2020

Hannover Re reveals Eur200mn coronavirus exposure

News

COVID-19

Hannover Re reveals Eur200mn coronavirus exposure

Hannover Re has estimated it has Eur200mn ($225mn) of exposure to potential losses resulting from coronavirus, joining its fellow European reinsurance heavyweights in discussing how the industry could be impacted.

Wed 11 Mar 2020

Insurers to pay $26mn of Diocese of New Ulm sexual abuse settlement

News

Liability

Insurers to pay $26mn of Diocese of New Ulm sexual abuse settlement

A Minnesota bankruptcy court judge has approved a $34mn settlement between the Diocese of New Ulm and sexual abuse victims, with $26mn funded by insurers including CNA and Zurich.

Wed 11 Mar 2020

Analysis

M&A

Aon-Willis winners and losers

As we approach the end of an extraordinary week which began with news of the $80bn Aon-WTW combination, we take a look at the likely winners and losers from the largest broker M&A in history.

Wed 11 Mar 2020

Troubled IRB welcomes Generali’s Cassio as new chairman

News

People Moves

Troubled IRB welcomes Generali’s Cassio as new chairman

IRB Brasil Re has continued the overhaul of its management team with the appointment of Generali’s Americas CEO, Antonio Cassio, as its new chairman.

Wed 11 Mar 2020

News

Treefrog and FPT team up on Foundation ILS placing platform

Bermuda-based software developer Treefrog Consulting and Foundation Platform Technologies (FPT) have teamed up to launch an ILS and reinsurance deal pricing and roll-up platform, called Foundation, with ILS manager Tangency Capital signing up as a user.

Wed 11 Mar 2020

No ‘v-shaped’ recovery from global recession: Swiss Re

News

COVID-19

No ‘v-shaped’ recovery from global recession: Swiss Re

Swiss Re has predicted that there will be no quick, or “v-shaped”, recovery from an impending global recession, spurred by the risks of a prolonged coronavirus spread that may not peak until April or May and “weak” economic resilience prior to the disease’s outbreak.

Wed 11 Mar 2020

Insurers spared IPT hike in Sunak’s debut budget

News

Legal/ Regulatory

Insurers spared IPT hike in Sunak’s debut budget

The UK’s newly installed Chancellor Rishi Sunak has spared insurers a feared rise in insurance premium tax (IPT) while unveiling a £30bn ($39bn) fiscal stimulus package to counter the shock of the coronavirus outbreak in his first UK Budget.

Wed 11 Mar 2020

News

People Moves

QBE North America confirms Moore as COO

Dan Moore has been appointed chief operating officer of QBE North America, a role he has held on an interim basis since the end of January after Daniel Franzetti left for CNA.

Wed 11 Mar 2020

Prudential confirms plans to float stake in US business

News

M&A

Prudential confirms plans to float stake in US business

UK insurance giant Prudential has confirmed it will float a stake in its US unit Jackson National Life following pressure from investor and activist hedge fund Third Point.

Wed 11 Mar 2020

European insurance stocks make steady gains on BoE rate cut

News

COVID-19

European insurance stocks make steady gains on BoE rate cut

European (re)insurance stocks climbed in early trading on Wednesday after an emergency rate cut by the Bank of England helped to spur optimism across European markets despite an earlier slide in Asia-pacific markets and a pledge by Saudi Arabia to boost its crude production capacity.

Wed 11 Mar 2020

News

Skuld reshuffles London leadership

Skuld has promoted Matthew Burton to the role of senior vice-president and head of business for London, with plans for London-based chief business development officer Gregory Thomas to relocate to the P&I club’s Oslo headquarters.

Wed 11 Mar 2020