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News

Arch takes Eur480mn stake in Coface

Arch Capital has agreed to purchase a minority stake of 29.5 percent in French trade credit insurer Coface from French bank Natixis for a transaction value of circa Eur480mn ($520.8mn) or Eur10.70 per share.

Tue 25 Feb 2020

News

Generali launches ‘green’ ILS framework

European insurance group Generali has unveiled an insurance-linked securities (ILS) framework designed to support its environmentally-friendly underwriting and investment commitments.

Tue 25 Feb 2020

Swiss Re shares now down 15% since Q4 earnings miss

Analysis

COVID-19

Swiss Re shares now down 15% since Q4 earnings miss

Swiss Re shares are now down 15 percent since last week’s results after being dragged lower by the double whammy of investor disappointment over Q4 earnings and the Coronavirus-sparked global equities slump.

Tue 25 Feb 2020

Analysis

Casualty

US casualty reserving stance suggests divided sector

The contrast between large US casualty reserve increases from Swiss Re, Axa and Allianz and the confidence previously expressed by US insurers and Beazley suggests the sector is “deeply divided, an analysis from Jefferies concludes.

Tue 25 Feb 2020

Analysis

Casualty

E&S casualty hardening could ease later this year: AmWINS

The hardening of the casualty excess and surplus lines (E&S) market has continued into this year, but AmWINS reports that some believe the level of rate increases could reduce when the market gets through its first renewal cycle in mid-2020.

Tue 25 Feb 2020

ProSight Global beats by a penny despite CR deterioration

News

Results

ProSight Global beats by a penny despite CR deterioration

ProSight Global reported adjusted operating income of $16.0mn, or $0.36 a share for the fourth quarter that was just ahead of the $15.7mn reported in Q4 2018 and of analysts’ consensus forecasts of $0.35 a share.

Tue 25 Feb 2020

Argo falls to operating loss as new CEO insists future is bright

News

Commercial insurance

Argo falls to operating loss as new CEO insists future is bright

Argo Group ended a challenging 2019 with an adjusted operating loss of $30.8mn but the Bermudian’s newly installed permanent chief executive Kevin Rehnberg has insisted the result is not indicative of its future direction.

Tue 25 Feb 2020

TransRe’s LatAm and Caribbean CUO departs

News

People Moves

TransRe’s LatAm and Caribbean CUO departs

TransRe’s Latin America and Caribbean chief underwriting officer Marco Giovane has left the company, The Insurer can reveal.

Mon 24 Feb 2020

News

Third Point’s Loeb calls for further Prudential splits

Third Point Re’s hedge fund sponsor has made an activist move on Prudential plc and sent a letter to the UK-based life insurance giant’s board urging the company to consider splitting its Asian and US operations.

Mon 24 Feb 2020

Swiss Re NA fac premium grew 60% in 2019

News

Casualty Reinsurance

Swiss Re NA fac premium grew 60% in 2019

Swiss Re saw 60 percent growth in its North American facultative book last year and is seeing similar momentum in 2020 as demand for the product surges in what is often viewed as a lead indicator for change in the treaty market, The Insurer can reveal.

Mon 24 Feb 2020

Insurance stocks trade down on coronavirus fears

News

COVID-19

Insurance stocks trade down on coronavirus fears

US-listed (re)insurance stocks followed their European counterparts in trading down on Monday, against the backdrop of a wider sell-off in global equity markets as investors react to pandemic fears after a surge in new coronavirus cases over the weekend in Italy, South Korea and Iran.

Mon 24 Feb 2020

Guy Carpenter and KCC agree cat modelling deal

News

Property catastrophe

Guy Carpenter and KCC agree cat modelling deal

Guy Carpenter has entered into a multi-year agreement with Karen Clark and Company (KCC) to license its natural catastrophe models, execution software and analytics.

Mon 24 Feb 2020

IGI unveils post-Tiberius merger directors

News

M&A

IGI unveils post-Tiberius merger directors

International General Holdings (IGI) has confirmed the directors that will make up its seven-strong board after the merger with Tiberius Acquisition Corp (Tiberius) has closed, including the appointment of Wanda Mwaura as a new member.

Mon 24 Feb 2020

TigerRisk adds Conway to Bermuda reinsurance and retro team

News

People Moves

TigerRisk adds Conway to Bermuda reinsurance and retro team

Bermuda-based TigerRisk Partners has named former Neon Underwriting SVP Christopher Conway to a newly created senior role across the broker’s reinsurance and retro teams.

Mon 24 Feb 2020

Euclid Transactional announces underwriting promotions

News

Liability

Euclid Transactional announces underwriting promotions

M&A managing general agent Euclid Transactional has made a quartet of promotions within its North American underwriting team.

Mon 24 Feb 2020

News

Korean Re to launch Colombia branch in LatAm push

Korean Re is set to launch a branch office in Bogotá, Colombia following approval from the regulatory authorities as the Seoul-headquartered carrier looks to further diversify into the Latin American markets.

Mon 24 Feb 2020