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One80 buys medical stop loss MGU Vista UW Partners

News

M&A

One80 buys medical stop loss MGU Vista UW Partners

US wholesaler and program manager One80 Intermediaries has completed its second significant acquisition in two months with a deal to buy medical stop loss specialist Vista Underwriting Partners, The Insurer can reveal.

Tue 14 Jan 2020

PIB carves out exit path for specialty CEO Salisbury

News

People Moves

PIB carves out exit path for specialty CEO Salisbury

UK broker consolidator PIB Group has shifted specialty CEO Nigel Salisbury’s role to chief commercial officer, in a move that will allow him “to pursue interests outside of PIB within the next couple of years.”

Tue 14 Jan 2020

RKH Specialty adds to healthcare with director Putnam

News

A&H

RKH Specialty adds to healthcare with director Putnam

Hyperion-owned RKH Specialty has hired Richard Putnam as a divisional director of healthcare.

Tue 14 Jan 2020

News

Casualty

JMP backs a “handful” of US insurers that can weather casualty storm

JMP Securities has warned that sector investors should look to concentrate on the “handful” of US carriers that have strong return on equity potential – that “separate them from the pack” – amid an environment characterized by deteriorating casualty loss cost trends.

Tue 14 Jan 2020

News

Casualty

ArgoGlobal promotes international specialty and casualty pair

Argo Group’s Lloyd’s syndicate, Argo Global, has promoted Jeremy Shallow to head of international specialty and Ross MacDonald as head of non-US international casualty.

Tue 14 Jan 2020

News

Losses

Australian bushfire losses reach A$1.34bn as IAG and Suncorp pull cover

The Insurance Council of Australia has updated loss estimates for the catastrophic bushfires that are continuing to impact the country, pegging losses at A$1.34bn ($924mn), while two of the country’s largest insurers have temporarily halted sales of policies and the processing of claims in impacted regions.

Tue 14 Jan 2020

LM Re launches APAC office with Aspen Re’s Leong

News

People Moves

LM Re launches APAC office with Aspen Re’s Leong

Liberty Mutual Re (LM Re) has opened an office in Singapore, appointing Annie Leong as regional underwriting manager for the Asia Pacific area.

Tue 14 Jan 2020

New Paradigm adds Grunewald as it targets further expansion

News

Parametric

New Paradigm adds Grunewald as it targets further expansion

New Paradigm Underwriters has hired former Greenlight Re deputy chief underwriting officer Matthew Grunewald as the managing general agent looks to secure additional reinsurance support to fuel further growth.

Tue 14 Jan 2020

Quote of the day

"Life is what happens when you're busy making other plans."

John Lennon

Mon 13 Jan 2020

Quote of the day

“The greatest glory in living lies not in never falling, but in rising every time we fall.”

Nelson Mandela

Mon 13 Jan 2020

Quote of the day

"Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking.”

Steve Jobs

Mon 13 Jan 2020

Florida’s HCI Group agrees to buy $69mn Anchor P&C book

News

Homeowners insurance

Florida’s HCI Group agrees to buy $69mn Anchor P&C book

Homeowners Choice Property & Casualty Insurance Company is set to buy all the insurance policies of its smaller Florida rival Anchor Property & Casualty Insurance Company in what is expected to be the first of a flurry of portfolio and M&A deals in the Sunshine State.

Mon 13 Jan 2020

Comment

Homeowners insurance

Florida – this time the squeeze is real

For the third time in four years, Florida’s homeowners insurance market is entering the first quarter in a state of great uncertainty as the deteriorating operating environment again brings the prospect of ratings downgrades in the crucial months leading up to the hurricane season.

Mon 13 Jan 2020

Run-off warning as Demotech prepares to begin Florida downgrades

News

Homeowners insurance

Run-off warning as Demotech prepares to begin Florida downgrades

Demotech will this week begin issuing statements on the 46 Florida-focussed carriers it rates with the majority to be affirmed but a number set to be downgraded or to seek a sale to avoid that outcome, while others may end up in run-off.

Mon 13 Jan 2020

US A&H market to continue on path of profitable growth

News

A&H

US A&H market to continue on path of profitable growth

The US accident and health (A&H) market is primed to continue on its current course with carriers set to enjoy relatively stable profitable growth in the coming years, according to a new report from S&P Global Market Intelligence.

Mon 13 Jan 2020

2020 tipped to break record for US broker M&A deals

News

M&A

2020 tipped to break record for US broker M&A deals

MarshBerry figures have revealed the number of announced US broker M&A deals in the past five years exceeded the number in the preceding 10 years, after a record deal count in 2019.

Mon 13 Jan 2020