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Lockton Re SVP Ford joins Willis Re defectors

News

Casualty Reinsurance

Lockton Re SVP Ford joins Willis Re defectors

Alex Ford, Lockton Re’s London-based casualty reinsurance specialist, has joined the James Moss-led team of defectors after resigning from the organisation earlier this week, The Insurer can reveal.

Wed 22 Jan 2020

Lloyd’s names Crawford-Ingle audit committee chair

News

People Moves

Lloyd’s names Crawford-Ingle audit committee chair

Lloyd’s has named former Beazley director Angela Crawford-Ingle as a board member and chair of the audit committee, effective immediately.

Wed 22 Jan 2020

News

Results

Tryg special dividend sees shares climb

Shares in Scandinavian insurer Tryg A/S were trading up 4 percent on Thursday after the firm announced a “surprise” special dividend following a consensus-beating fourth quarter.

Wed 22 Jan 2020

News

Cyber

Markel, RenRe and Nephila among cyber start-up Cowbell’s reinsurers

Cowbell Cyber has launched a policy offering up to $5mn in limits through insurtech MGA Boost Insurance with a panel of reinsurers including Markel Global Reinsurance Company, Renaissance Re Holdings, and Nephila Capital.

Wed 22 Jan 2020

Swiss Re faces potential $720mn Hagibis hit: Jefferies

News

Losses

Swiss Re faces potential $720mn Hagibis hit: Jefferies

Swiss Re could be on the hook for a $720mn loss emanating from the fallout of Typhoon Hagibis, which slammed into the Japanese coast in October, according to an estimate from a Jefferies analyst.

Wed 22 Jan 2020

News

People Moves

AGCS promotes Haagen to specialty CUO

Allianz Global Corporate & Specialty (AGCS) has appointed Henning Haagen to chief underwriting officer for specialty to succeed Paul O’Neill, who left AGCS in September 2019.

Wed 22 Jan 2020

Lions Gate expands surety practice with Medina appointment

News

People Moves

Lions Gate expands surety practice with Medina appointment

Florida-based Lloyd’s coverholder and MGA Lions Gate Underwriting has hired Jairo Medina to head up its surety division and serve as executive vice president for Latin America.

Wed 22 Jan 2020

News

BMS builds ILS and E&S expertise with Kohonen hire

BMS has hired Jani Kohonen as senior vice president and Atlanta branch manager, reporting into recently appointed president and CEO of BMS Re US, Pete Chandler.

Wed 22 Jan 2020

Comment

Legal/ Regulatory

A sign of the times?

News that Hyperion and JLT have reached an out of court settlement over defections from the now MMC-owned broking house to the David Howden-led rival will come as little surprise to seasoned observers of poaching disputes in the sector.

Wed 22 Jan 2020

News

Munich Re puts $100mn capacity behind MGU’s environmental cost cap cover

Environmental cost cap (ECC) coverage has made a return to the market with MGU North Branch Global Risk (NBGR) securing Munich Re capacity to relaunch the product with $5mn to more than $100mn of limit available per policy, The Insurer can reveal.

Wed 22 Jan 2020

Analysis

Swiss Re faces $1.3bn in losses from Japanese typhoons and Chilean riots

Swiss Re faces a combined $1.3bn loss from 2019’s Japanese typhoons and the Chilean riots, according to equity analyst Jefferies, which has warned over the reinsurer’s continued “outsized exposure” to the most cat-exposed regions.

Wed 22 Jan 2020

Hailstorm damage in Australia climbs to $280mn: ICA

News

Losses

Hailstorm damage in Australia climbs to $280mn: ICA

Losses from hailstorms which struck Australia over Sunday and Monday have grown to A$407mn ($278.6mn) overnight, according to the latest calculation from the Insurance Council of Australia, up from the A$320mn ($168.2mn) recorded yesterday.

Wed 22 Jan 2020

LSM’s Moore succeeds Beazley’s Horton as LMG chair

News

People Moves

LSM’s Moore succeeds Beazley’s Horton as LMG chair

The London Market Group (LMG) has appointed Matthew Moore, CEO of Liberty Specialty Markets, as chair to succeed Beazley CEO Andrew Horton who has held the role for two years.

Wed 22 Jan 2020

News

Losses

Insured cat losses fall to $71bn in 2019: Aon

Insured damages wrought by weather-related events last year were $71bn, according to the latest catastrophe recap report from broker Aon.

Wed 22 Jan 2020

News

Rating actions

S&P Global upgrades Covéa rating to AA-

Rating agency S&P Global has raised the financial strength rating and issuer credit ratings of French mutual insurer Covéa, citing improved capital adequacy and a leading position in the French P&C market.

Wed 22 Jan 2020

News

Hyperion and JLT settle defector legal dispute

JLT and Hyperion have reached a confidential settlement of the lawsuit initiated by JLT in relation to a number of employees who left to join Hyperion.

Wed 22 Jan 2020