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Truist’s Insurance Holdings platform delivers 7.9% organic growth in Q4

News

Results

Truist’s Insurance Holdings platform delivers 7.9% organic growth in Q4

The insurance business of newly merged Truist Financial Corporation – which includes McGriff Insurance Services, CRC and Amrisc – reported organic growth of 7.9 percent in the fourth quarter and an adjusted Ebitda margin of 23.4.

Thu 30 Jan 2020

London broker start-up looks to Chesterfield and Guy Carp in hiring round

News

Marine

London broker start-up looks to Chesterfield and Guy Carp in hiring round

Newly formed Lloyd’s marine broker Lilley Plummer Risks has swooped on Guy Carpenter and Chesterfield for two notable hires, The Insurer can reveal.

Thu 30 Jan 2020

News

KKR leads insurtech Policygenius’s $100mn series D round

Policygenius, an insurtech that launched a property casualty offering last year, has raised $100mn in a series D round led by KKR with participation from existing investors including Axa Venture Partners.

Thu 30 Jan 2020

News

Results

GC organic revenues surge 10% in Q4

Marsh & McLennan (MMC) has narrowly beaten Wall St consensus on Q4 EPS by just $0.01 as it posted consolidated revenue of $4.3bn for the period, an increase of 15 percent compared to Q4 2018, or 3 percent on an underlying basis.

Thu 30 Jan 2020

Coronavirus to hit contingency market as World Athletics cancelled and F1 in doubt

News

COVID-19

Coronavirus to hit contingency market as World Athletics cancelled and F1 in doubt

Contingency underwriters in the London insurance market are facing potentially substantial losses as the World Indoor Athletics Championships has been postponed because of the spread of coronavirus, while the Formula One Chinese Grand Prix also looks likely to be cancelled.

Thu 30 Jan 2020

Insurtech – rather a mythical creature than an extinct one

Comment

Private Equity

Insurtech – rather a mythical creature than an extinct one

Two extremes for insurtechs have emerged in recent times: a small herd of unicorns riding high on soaring valuations and a much larger number of start-ups ceasing business.

Thu 30 Jan 2020

News

People Moves

ICA CEO Whelan to step down: reports

Longstanding Insurance Council of Australia (ICA) CEO, Rob Whelan, is set to step away from the trade body after almost a decade.

Thu 30 Jan 2020

News

MS Amlin continues restructuring with four specialty appointments

MS Amlin has named four heads of divisions under its new specialty unit – property, marine, crisis management and natural resources – as the carrier continues to overhaul its business operations following a strategic review last year.

Thu 30 Jan 2020

Aspen adds former Validus exec Kudera as new chief actuary

News

People Moves

Aspen adds former Validus exec Kudera as new chief actuary

Aspen has brought in industry veteran Andy Kudera as its new group chief actuary with the former Validus and Endurance executive set to join the Bermudian (re)insurer in early February.

Thu 30 Jan 2020

News

One third of all insurtech funding came in record 2019: Willis

A record breaking fourth quarter pushed total new worldwide funding commitments to the insurtech sector in 2019 up to $6.37bn, accounting for 33.9 percent of the historical total, Willis Towers Watson has revealed.

Thu 30 Jan 2020

Accredited inks captive legacy deal with SAAB

News

M&A

Accredited inks captive legacy deal with SAAB

Randall & Quilter’s subsidiary Accredited Europe has completed the transfer of a captive business unit from Swedish aerospace and defence company, SAAB Aktiebolag, for an undisclosed sum.

Thu 30 Jan 2020

Suncorp to begin recovering on main agg programme

News

Losses

Suncorp to begin recovering on main agg programme

Suncorp has confirmed it expects to begin making recoveries from reinsurers under its main A$300mn ($202mn) aggregate cover because the devastating bushfires and January weather events in Australia combined with loss events the latter half of 2019 are set to fully erode the A$515mn ($346mn) deductible.

Thu 30 Jan 2020

News

Results

Axis edges to Q4 operating profit

After last week’s preannouncement of Q4 weather and agri reinsurance losses, Axis Capital has edged to an operating profit of just $4mn for the fourth quarter and bemoaned full-year results that did not meet its expectations.

Wed 29 Jan 2020

Watford shares slide 9% after reserve charge and profit warning

News

Losses

Watford shares slide 9% after reserve charge and profit warning

Watford Holdings shares tumbled by more than 9 percent during trading on Wednesday as investors digested news that the total return reinsurer was facing a fourth quarter 2019 net loss after having to boost its casualty reserves by some $28mn.

Wed 29 Jan 2020

Aon recruits BDC’s Weil as US health care vertical leader

News

A&H

Aon recruits BDC’s Weil as US health care vertical leader

Aon has appointed Richard Weil (pictured), most recently director at BDC Advisors, as its new US health care vertical leader in its Chicago office.

Wed 29 Jan 2020

The Doctors Company names White admitted MPL head

News

Liability

The Doctors Company names White admitted MPL head

The Doctors Company has given Robert White responsibility for all of the medical professional liability (MPL) business the firm writes on an admitted basis throughout the US.

Wed 29 Jan 2020