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OFAC acts swiftly to approve Ukraine Airlines Iran war loss

News

Aviation

OFAC acts swiftly to approve Ukraine Airlines Iran war loss

London market aviation war insurers, led by Tokio Marine Kiln (TMK), will shortly receive official approval from the US Office of Foreign Assets Control (OFAC) to pay hull claims relating to the Ukranian International Airline (UIA) crash earlier this month, The Insurer can reveal.

Tue 28 Jan 2020

European stocks rebound following coronavirus confidence hit

News

COVID-19

European stocks rebound following coronavirus confidence hit

European and London Market (re)insurance stocks rebounded on Tuesday after global equity markets slid earlier in the week under pressure from the rising death toll in China from a rapidly spreading virus denting investor confidence.

Tue 28 Jan 2020

Swiss Re CorSo names Willauer EMEA head of property and specialty

News

People Moves

Swiss Re CorSo names Willauer EMEA head of property and specialty

Swiss Re Corporate Solutions has appointed Bianca Willauer head of property and specialty lines for EMEA, in its latest hire from rival Allianz Global Corporate & Specialty (AGCS).

Tue 28 Jan 2020

News

Legal dispute

Gard names Kelly head of London defence

P&I club Gard has named Marie Kelly vice president and head of the defence team in London.

Tue 28 Jan 2020

News

Saga takes £4mn profit hit after Thomas Cook collapse

UK insurance intermediary Saga said this morning that the 2019 failure of tour operator Thomas Cook will result in £4mn ($5.2mn) of “one-off costs”.

Tue 28 Jan 2020

Brown & Brown organic growth reaches 5.2% in “great” Q4

News

Results

Brown & Brown organic growth reaches 5.2% in “great” Q4

Brown & Brown’s fourth quarter 2019 revenues increased by 5.2 percent year on year on an organic basis, with the company’s president and chief executive praising what he said was “a great” period for the US broker.

Mon 27 Jan 2020

Global Aerospace hires former Gallagher SVP in Dallas

News

Aviation

Global Aerospace hires former Gallagher SVP in Dallas

Former Gallagher aviation broker Jason Hendrix has joined Global Aerospace in its Dallas office as AVP and underwriting manager.

Mon 27 Jan 2020

AGCS’ Schiavone to fill old role and replace Coppola

News

People Moves

AGCS’ Schiavone to fill old role and replace Coppola

Allianz Global Corporate & Specialty’s Paul Schiavone will re-assume his previous role and step into the North American regional head of financial lines position vacated by Laura Coppola’s move to Swiss Re Corporate Solutions, The Insurer has learned.

Mon 27 Jan 2020

Hawksworth exits Willis Re for Guy Carpenter

News

People Moves

Hawksworth exits Willis Re for Guy Carpenter

Willis Re’s Chicago branch manager Jim Hawksworth and his colleague Ben Davis have resigned to take roles at Guy Carpenter, The Insurer can reveal.

Mon 27 Jan 2020

News

Casualty

Swiss Re CorSo hires Coppola from AGCS to spearhead US casualty repositioning

Swiss Re Corporate Solutions has hired Laura Coppola from rival Allianz Global Corporate & Specialty (AGCS) as it repositions its troublesome US casualty book.

Mon 27 Jan 2020

RSG premium volume up 35% in 2019 as E&S market booms

News

Commercial insurance

RSG premium volume up 35% in 2019 as E&S market booms

Ryan Specialty Group added more than 500 new employees in 2019 to keep pace with the surge of business coming into the E&S market that sent its premium volume rocketing by 35 percent to $9.6bn, The Insurer can reveal.

Mon 27 Jan 2020

Beazley looks to TMHCC’s Sanches for US healthcare role

News

Liability

Beazley looks to TMHCC’s Sanches for US healthcare role

Blue-chip insurer Beazley has hired Justin Sanches as an underwriter within the US healthcare liability team, based in LA.

Mon 27 Jan 2020

Brewer Lane makes first investment in Socotra

News

Private Equity

Brewer Lane makes first investment in Socotra

Newly launched insurtech fund Brewer Lane Ventures has made its first investment after leading a Series B funding round in Socotra.

Mon 27 Jan 2020

News

Professional liability

Everest and Embroker team up for lawyers’ professional liability program

Everest Insurance has joined with digital insurance broker Embroker to provide a new online lawyers’ professional liability program for law firms with up to ten employed attorneys.

Mon 27 Jan 2020

News

LIIBA prioritises Brexit, climate crisis and market modernization in 2020

Members body the London and International Insurance Brokers’ Association (LIIBA) has unveiled initiatives that seek to address post-Brexit trading, updated broker regulation, digitalisation and the role insurance should play in addressing the planet’s changing climate.

Mon 27 Jan 2020

News

M&A

Aston Lark acquires Isca Barum

Goldman Sachs-backed broker Aston Lark has acquired Isca Barum Insurance Brokers in its first deal of 2020.

Mon 27 Jan 2020