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LMA hires Hayes as underwriting director

The Lloyd’s Market Association (LMA) has hired Jane Hayes, most recently chief underwriting officer of EMEA at Zurich, as its new underwriting director.

Wed 22 Jan 2020

CFC acquires big data insurtech ThreatInformer

News

Cyber

CFC acquires big data insurtech ThreatInformer

London cyber-specialist MGA CFC has acquired London-based insurtech ThreatInformer for an undisclosed sum.

Wed 22 Jan 2020

Aviva chairman Montague to step down as shake-up continues

News

People Moves

Aviva chairman Montague to step down as shake-up continues

Aviva chairman Adrian Montague is to step down later this year as the insurer continues its widespread management overhaul and wrestles with shareholder dissatisfaction over its strategy.

Wed 22 Jan 2020

Arch promotes Rajendra to chief strategy and innovation role

News

People Moves

Arch promotes Rajendra to chief strategy and innovation role

Arch Capital Group has promoted chief analytics officer Jay Rajendra to chief strategy and innovation officer, The Insurer has learned.

Tue 21 Jan 2020

Brewer Lane looks to build on managing partners’ track record

News

Capital

Brewer Lane looks to build on managing partners’ track record

The managing partners of newly launched Brewer Lane Ventures are optimistic they can identify investments that will not only provide their business with successful opportunities, but also help to push the (re)insurance industry forward.

Tue 21 Jan 2020

News

Program

Balance Partners to add further programs and underwriters in 2020

Start-up US specialty lines MGA platform Balance Partners added four new programs in its first year of operations and is targeting a further three launches in 2020 as it adds underwriters and specialty offerings, The Insurer can reveal.

Tue 21 Jan 2020

Axis won’t be alone in pointing to messy Q4

Comment

Losses

Axis won’t be alone in pointing to messy Q4

There have been several earnings preannouncements in recent weeks, but Axis Capital’s revelation that it is expecting “modest operating income” because of cat and other Q4 losses felt like the first profits warning of the season.

Tue 21 Jan 2020

Starr names Aon’s Murphy southeast regional vice president

News

People Moves

Starr names Aon’s Murphy southeast regional vice president

Starr Insurance Companies has appointed financial services insurance specialist Kathleen Murphy as regional vice president, southeast region.

Tue 21 Jan 2020

BIBA urges UK government to lower cost of broking regulation

News

Legal/ Regulatory

BIBA urges UK government to lower cost of broking regulation

At the launch of its 2020 Manifesto, the British Insurance Brokers’ Association (BIBA) called on UK government ministers to make good on their promise of “sensible and proportionate” regulation, after its research revealed the country’s brokers face some of the highest direct costs out of 23 worldwide jurisdictions surveyed.

Tue 21 Jan 2020

News

Losses

Axis expects “modest” Q4 operating income after $140mn weather losses

Axis Capital has issued a profit warning as it said its fourth quarter will be hit by a $140mn pre-tax loss from catastrophes and other weather-related events, with the Bermudian (re)insurer also estimating $14mn of favourable reserve development.

Tue 21 Jan 2020

Chris Donelan

Deputy CEO for Global Reinsurance, Chairman of North America Reinsurance and CUO of Global Casualty Reinsurance, Sompo International

Tue 21 Jan 2020

Commercial insurance pricing and casualty reserves to dominate Q4 earnings season

Analysis

Results

Commercial insurance pricing and casualty reserves to dominate Q4 earnings season

As the US reporting season gets underway this week it is inevitable that pricing momentum will once again feature heavily in management commentary and earnings call discussions with analysts.

Tue 21 Jan 2020

Analysis

Space

Space market hit by “worst ever” $600mn+ losses in 2019

The space insurance market suffered losses of over $664mn from two total loss events in 2019, making it the second consecutive year that losses outstrip gross written premiums in the market.

Tue 21 Jan 2020

Will regulators thwart insurtech’s pricing potential?

Analysis

Rates

Will regulators thwart insurtech’s pricing potential?

The technology for insurers to price truly at an individual level is close to becoming a reality, but concern is rising that regulators will not allow them to deploy it.

Tue 21 Jan 2020

News

Casualty

Willis Re names Green head of international casualty as it shakes up Aus leadership

Willis Re has appointed Australia CEO, Cameron Green, as head of its international casualty reinsurance practice and chair of Willis Re Australia, to be succeeded by existing deputy CEO of Willis Re Australia, John Philipsz.

Tue 21 Jan 2020

Major wildfire year could see carriers quit California: S&P

News

Wildfires

Major wildfire year could see carriers quit California: S&P

The wildfires that have raged across California in recent years will not lead to an immediate exodus of carriers from the state, but another year of significant losses such as those seen in 2017 or 2018 could lead to departures, S&P Global Ratings’ Tracy Dolin-Benguigui has warned.

Tue 21 Jan 2020