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WTW shares fall by 5%

Shares in broker Willis Towers Watson (WTW) fell by 5 percent today following the release of its Q4 earnings, despite impressive organic growth across its corporate broking and reinsurance segments.

Thu 6 Feb 2020

Beazley third-party capital facilities business could grow to $1bn+

News

Results

Beazley third-party capital facilities business could grow to $1bn+

Lloyd’s (re)insurer Beazley has predicted its market facilities arm could grow to eventually write in excess of $1bn annual GWP, according to CEO Andrew Horton today.

Thu 6 Feb 2020

News

WTW to announce new CEO in second half of year

Willis Towers Watson (WTW) will announce its new CEO in the second half of the year, and has engaged a third party to assist in the process, its current CEO John Haley said today.

Thu 6 Feb 2020

Kemper elects United Airlines CFO Laderman to board

News

People Moves

Kemper elects United Airlines CFO Laderman to board

Chicago-based insurer Kemper has appointed Gerald (Gerry) Laderman as a director, effective 20 February 2020.

Thu 6 Feb 2020

French regulator orders Covéa to change governance model: report

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Results

French regulator orders Covéa to change governance model: report

The Bank of France’s Prudential Supervision and Resolution Authority (ACPR) has told Covéa’s directors to open an investigation into their governance and report back to the watchdog on findings and next steps.

Thu 6 Feb 2020

ARPC extends terrorism retro programme at reduced rate

News

War and terrorism

ARPC extends terrorism retro programme at reduced rate

Australia’s terrorism insurance scheme, the Australian Reinsurance Pool Corporation (ARPC), has renewed its retrocession reinsurance program for 2020 at improved terms, with the $3.45bn retro placement also marking a modest increase on the $3.32bn programme placed year.

Thu 6 Feb 2020

Comment

Casualty

Tort bounce for fragile stocks

There was strong performance in US insurance stocks led by Chubb and Markel yesterday after incrementally positive news on reserves and loss trends helped boost investor confidence.

Thu 6 Feb 2020

WTW’s reinsurance arm sees 12% organic growth in Q4

News

Results

WTW’s reinsurance arm sees 12% organic growth in Q4

Willis Towers Watson (WTW) has continued the trend seen in the Q4 results of its competitors with a strong fourth quarter performance in reinsurance, as its Investment, Risk & Reinsurance division – which houses Willis Re – recorded organic growth of 12 percent for the period, with the broker’s EPS of $4.90 for the period also beating analysts’ consensus of $4.8

Thu 6 Feb 2020

Lester continues build out of Aon’s European M&A practice with senior hires

News

People Moves

Lester continues build out of Aon’s European M&A practice with senior hires

Aon’s CEO of M&A and transaction solutions for EMEA, Alistair Lester, has made a clutch of high-level appointments to its EMEA M&A and transaction solutions practice as the broker seeks to capitalise on the booming transactional liability market.

Thu 6 Feb 2020

Beazley shares rise 9% after strong beat

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Results

Beazley shares rise 9% after strong beat

Blue-chip insurer Beazley has seen its shares rise by 8.75 percent since market open today, after it unveiled a consensus-beating profit and on-target combined ratio, as well as reassuring comments from management on casualty reserves.

Thu 6 Feb 2020

News

Results

Talanx: 2019 will bring “record results”

The Germany-headquartered (re)insurance group Talanx says it has generated “record results” in 2019 with operating profit climbing 20 percent to Eur2.4bn and net profit climbing 30 percent to Eur923mn.

Thu 6 Feb 2020

Scor cuts reinsurance premium by 4.7% as prices climb at 1.1

News

Renewals

Scor cuts reinsurance premium by 4.7% as prices climb at 1.1

French reinsurance powerhouse Scor cut reinsurance premiums by 4.7 percent while reporting a 2.8 percent premium rate increase on reinsurance business renewing at the 1 January.

Thu 6 Feb 2020

Beazley reports FY CR of 100%; top and bottom line swell

News

Results

Beazley reports FY CR of 100%; top and bottom line swell

Blue-chip insurer Beazley has reported a combined ratio of 100 percent for 2019, a deterioration of 2 percentage points on 2018, as the carrier felt the impact of intensifying claims across several lines of business and reduced reserve releases from prior years, however the result was ahead of analysts consensus.

Thu 6 Feb 2020

New York charges the NRA over insurance violations

News

Legal/ Regulatory

New York charges the NRA over insurance violations

New York’s Department of Financial Services (DFS) has brought charges against the National Rifle Association (NRA) over the controversial Carry Guard insurance programme that previously led to fines for Lockton and Chubb.

Wed 5 Feb 2020

Cincinnati Q4 boosted by $45mn reserve releases and 23% E&S growth

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Results

Cincinnati Q4 boosted by $45mn reserve releases and 23% E&S growth

Cincinnati Financial’s results have benefited from further reserve releases in the fourth quarter, while net premiums grew 11 percent with 23 percent growth in excess and surplus lines (E&S).

Wed 5 Feb 2020

White Mountains returns to Q4 profit on investment gains

News

Results

White Mountains returns to Q4 profit on investment gains

White Mountains turned a prior-period comprehensive loss of $141mn into a profit of $65mn in the fourth quarter on the back of a big swing from losses to gains on its investment portfolio.

Wed 5 Feb 2020