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Odyssey’s Hudson division hires former ProAg CEO Connealy

News

People Moves

Odyssey’s Hudson division hires former ProAg CEO Connealy

Odyssey Group division Hudson Insurance has announced former ProAg chairman, president and CEO Michael Connealy will join Hudson Crop’s team in April.

Mon 10 Feb 2020

CNA shares bounce on beat, pricing acceleration and special dividend

News

Commercial insurance

CNA shares bounce on beat, pricing acceleration and special dividend

Shares in CNA closed up by more than 8.39 percent at $50.78 in New York this morning after the insurer beat Q4 Wall Street forecasts, reported sequentially higher rate increases and unveiled a $2.00 a share special dividend.

Mon 10 Feb 2020

Miller bolsters fac team with Aon’s Lazarus

News

People Moves

Miller bolsters fac team with Aon’s Lazarus

Broking house Miller has hired Michael Lazarus as it looks to build out its facultative reinsurance business.

Mon 10 Feb 2020

Spotlight on Scor share price as suitor Covéa turns attention to PartnerRe

News

M&A

Spotlight on Scor share price as suitor Covéa turns attention to PartnerRe

Shares in French reinsurer Scor were trading down on Monday in the wake of news that Covéa has entered advanced talks to acquire Bermudian carrier PartnerRe.

Mon 10 Feb 2020

Analysis

AJG disclosures suggest $300mn+ Capsicum Re sale value but reality more complicated

AJG hasn’t revealed how much it paid for Grahame Chilton’s reinsurance intermediary Capsicum Re last month but The Insurer sieves through the SEC filings to estimate its enterprise value…

Mon 10 Feb 2020

Comment

The multiplier effect

The news flow out of Florida so far this year has highlighted mounting pressures on homeowners carriers. But momentum behind legislation to tackle soaring attorneys fees could bring some welcome respite…

Mon 10 Feb 2020

Comment

Covéa’s $9bn PartnerRe pitch prices out obvious rivals

In 2019, the global M&A carousel temporarily slowed when it came to big cross-border (re)insurance transactions.

Mon 10 Feb 2020

News

Results

CNA expected to trade up as Q4 results beat

Shares in CNA are expected to trade up on Monday after the US carrier reported a consensus beating fourth quarter net income of $273mn, an improved combined ratio and better than expected investment returns, marking a return to the black for the insurer.

Mon 10 Feb 2020

News

Brexit

LMA highlights Future at Lloyd’s and Brexit as key focus for 2020

The Lloyd’s Market Association (LMA) has identified the Future at Lloyd’s reforms and post-Brexit planning as its key objectives for the year ahead.

Mon 10 Feb 2020

Coverys looks to Beazley for active underwriter

News

People Moves

Coverys looks to Beazley for active underwriter

Coverys Syndicate 1975 has appointed Valentina Minetti as active underwriter as the carrier looks to become a market leader in medical professional liability in the Lloyd’s market.

Mon 10 Feb 2020

London MGA Rokstone hires former Markel duo Pitts and Ungless

News

People Moves

London MGA Rokstone hires former Markel duo Pitts and Ungless

Ambitious London-based MGA Rokstone has hired the former Markel International MD of property, Dean Pitts, as it continues to bolster its senior underwriting ranks, The Insurer can reveal.

Mon 10 Feb 2020

News

Flood

Perils ups Townsville flood losses to A$1.24bn

Loss aggregation firm Perils has increased its estimate of insured losses stemming from Australia’s Townsville floods in January and February last year to A$1.24bn ($832.2mn), the highest insured flood loss since the Brisbane Floods in 2011.

Mon 10 Feb 2020

News

Numis raises Beazley target price after strong 2019

Analysts at Numis Securities have raised its target share price on Lloyd’s carrier Beazley after the firm’s consensus-beating 2019 FY earnings last week.

Mon 10 Feb 2020

News

Coface pulls cover to Poundstretcher suppliers on delayed financials

Credit insurer Coface has pulled cover for suppliers to UK high street discount store Poundstretcher.

Mon 10 Feb 2020

PartnerRe $9bn sale talks could lead to biggest M&A since AXA-XL deal

News

M&A

PartnerRe $9bn sale talks could lead to biggest M&A since AXA-XL deal

The largest M&A (re)insurance transaction since 2018’s Axa-XL deal appeared possible after Exor confirmed it was in exclusive $9bn talks with French mutual group Covéa yesterday over the sale of PartnerRe.

Mon 10 Feb 2020

Industry braces for Coronavirus BI fallout

News

Commercial insurance

Industry braces for Coronavirus BI fallout

The (re)insurance industry is beginning to assess potential exposures to the spreading Coronavirus arising from business interruption coverages.

Fri 7 Feb 2020