Search | The Insurer TV

Admiral’s co-founder and CEO David Stevens to retire

News

People Moves

Admiral’s co-founder and CEO David Stevens to retire

UK personal lines insurer Admiral Group has said its co-founder and CEO David Stevens is to retire in 12 months’ time, to be succeeded by Milena Mondini de Focatiis, the Group’s current head of UK and European insurance.

Thu 5 Mar 2020

Hamilton hires head of excess casualty for Lloyd’s business

News

Commercial insurance

Hamilton hires head of excess casualty for Lloyd’s business

Hamilton’s Syndicate 4000 has brought in Fergus Fergusson as divisional head of its excess casualty offering, with the new arrival joining the business after nine years with Aspen.

Wed 4 Mar 2020

Breckenridge names DiCapua Blue River president

News

People Moves

Breckenridge names DiCapua Blue River president

Breckenridge Insurance Group has named Dennis DiCapua as replacement for Stephen Kelley as president of its program division Blue River Underwriters.

Wed 4 Mar 2020

Cyber reinsurers shifting away from quota shares

Analysis

Commercial insurance

Cyber reinsurers shifting away from quota shares

Cyber underwriters and brokers report evolving market trends include alternative capital showing increasing interest, reinsurers moving away from quota shares, differing responses to silent cyber exposures and buyers looking to Bermuda for solutions over fears that cyber policies will not pay for regulatory fines.

Wed 4 Mar 2020

Lexington like flying plane and fixing it at the same time: Levinson

News

Commercial insurance

Lexington like flying plane and fixing it at the same time: Levinson

There is still significant work required to execute the turnaround of AIG’s E&S platform despite the dramatic overhaul of its portfolio over the last 12 months, according to Lexington CEO Lou Levinson.

Wed 4 Mar 2020

News

People Moves

McGill adds Swan to M&A practice

McGill and Partners has continued its build out with the addition of James Swan as a partner within its mergers and acquisitions (M&A) broking practice.

Wed 4 Mar 2020

Iprism hires Victor’s Constable as commercial underwriter

News

Commercial property

Iprism hires Victor’s Constable as commercial underwriter

Commercial, property and high net worth MGA Iprism has appointed Paul Constable as commercial underwriter.

Wed 4 Mar 2020

News

Legal/ Regulatory

PRA warns market on board diversity

The Bank of England’s Prudential Regulation Authority (PRA) has issued a warning to UK regulated carriers and insurance intermediaries to ensure their boards are adequately diverse and comply with the regulator’s rules on board diversity.

Wed 4 Mar 2020

Sirius shares plunge 17% as AM Best downgrades reinsurer to A-

News

Rating actions

Sirius shares plunge 17% as AM Best downgrades reinsurer to A-

Sirius International’s fears over the intervention of its parent China Minshing Investment Group (CMIG) to potentially block a proposed rights issue have been realised, with the financial strength ratings of the Bermudian’s operating subsidiaries downgraded by AM Best from A to A-.

Wed 4 Mar 2020

Beazley partners with insurtech Concirrus for pricing and risk selection

News

Marine

Beazley partners with insurtech Concirrus for pricing and risk selection

Lloyd’s blue-chip insurer Beazley has begun using Concirrus’ behaviour-based data analytics platform, Quest Marine, to build up a “more detailed” view of its marine risks.

Wed 4 Mar 2020

Axa XL replaces UK downstream and power head Welton with O’Neill

Analysis

Energy

Axa XL replaces UK downstream and power head Welton with O’Neill

Axa XL has appointed Peter O’Neill to the role of UK head of downstream and power, succeeding Peter Welton who was promoted to UK head of energy in October 2019.

Wed 4 Mar 2020

News

Sirius shares down 9% as investors fear rating threat

The small portion of Sirius International Insurance Group (Sirius) shares listed on the Nasdaq stock exchange fell as much as 8.9 percent in mid-morning trading on Wednesday, as investors reacted to a ratings threat from S&P and Sirius’ ability to insulate itself from parental difficulties.

Wed 4 Mar 2020

Comment

People Moves

Wanted: A Lloyd’s man* for all seasons

Whoever succeeds Jon Hancock will become only the fourth head of Lloyd’s underwriting performance.

Wed 4 Mar 2020

Pool Re completes up-sized £2.4bn XoL placement

News

War and terrorism

Pool Re completes up-sized £2.4bn XoL placement

The UK state-backed terrorism mutual Pool Re has completed the placement of its up-sized £2.4bn ($3.1bn) retrocession programme with more than 50 international reinsurers, a move first revealed by The Insurer.

Wed 4 Mar 2020

Lloyd’s confirms shortlist for Hancock successor; Axa XL and RenRe execs early favourites?

Analysis

People Moves

Lloyd’s confirms shortlist for Hancock successor; Axa XL and RenRe execs early favourites?

Axa XL’s UK head Paul Greensmith and RenaissanceRe’s chief underwriter Ross Curtis have emerged as early favourites among potential candidates to succeed Jon Hancock as director of Performance Management at Lloyd’s.

Wed 4 Mar 2020

Coronavirus downturn a ‘bigger headwind’ to brokers: KBW

News

COVID-19

Coronavirus downturn a ‘bigger headwind’ to brokers: KBW

The widespread economic upheaval and associated stall in economic growth caused by investor fears over coronavirus represents a greater concern for (re)insurance intermediaries than their carrier counterparts, according to analysis from Keefe, Bruyette and Woods (KBW).

Wed 4 Mar 2020