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Liberty Mutual Re hires Swiss Re casualty underwriter Burke

News

People Moves

Liberty Mutual Re hires Swiss Re casualty underwriter Burke

Liberty Mutual Re (LM Re) has appointed former Swiss Re underwriter Susan Burke as vice president and director of assumed reinsurance in its casualty treaty department.

Mon 13 Jan 2020

News

Cargo

Largest Lloyd’s cargo coverholder Falvey opens Denver office with hire

Former Hartford cargo underwriter Kathleen Creedon has joined Falvey Cargo to open an office in Denver, Colorado.

Mon 13 Jan 2020

News

Parametric

Swiss Re closes $225mn parametric earthquake cat bond for mortgage defaults

Swiss Re Capital Markets has closed what it describes as the first catastrophe bond issued with a parametric trigger designed to cover mortgage default risk caused by earthquakes, with the $225mn Sierra deal.

Mon 13 Jan 2020

GRP acquires Birrell Group to be its Midlands hub

News

M&A

GRP acquires Birrell Group to be its Midlands hub

Up-for-sale Global Risk Partners (GRP) has acquired Leicestershire-based commercial insurance broker Birrell Group.

Mon 13 Jan 2020

BMS appoints former Marsh MD Ceron as LatAm COO

News

People Moves

BMS appoints former Marsh MD Ceron as LatAm COO

Expansive broker BMS has hired Alejandro Ceron as chief operating officer for its Latin America and Caribbean offices.

Mon 13 Jan 2020

Axa XL merges ACS and Art units into XL business

News

M&A

Axa XL merges ACS and Art units into XL business

Axa XL has combined Axa Corporate Solutions and Axa Art with XL Insurance Company SE (XLICSE) operations upon receipt of all necessary regulatory approvals.

Mon 13 Jan 2020

1.1 reinsurance rate rises have limited effect on Beazley and Hiscox: Numis

News

Rates

1.1 reinsurance rate rises have limited effect on Beazley and Hiscox: Numis

Matching reinsurance expenditure and income at London-listed carriers Beazley and Hiscox means that the pair will see a “relatively neutral” impact from the widely acknowledged reinsurance rate increases seen at 1 January, research from equity analyst Numis has found.

Mon 13 Jan 2020

Pro Global replaces Niemczewski with former RSA UK CEO Lewis

News

M&A

Pro Global replaces Niemczewski with former RSA UK CEO Lewis

Pro Global has appointed RSA’s former international and UK CEO Steve Lewis as its new chief executive, following the departure of Artur Niemczewski’s at the end of 2019.

Mon 13 Jan 2020

News

Cyber

Hiscox picks CyberCube for systemic risk analysis

Hiscox has adopted insurtech CyberCube’s portfolio management software as the London-listed insurer looks to better understand the cyber risks to which its book is exposed.

Mon 13 Jan 2020

News

MS Amlin launches equine MGA as former MD buys book

MS Amlin has launched a specialist equine MGA – David Ashby Underwriting (DAU) – following the buyout of the carrier’s equine book of business and renewal rights by David Ashby, the former managing director and principal underwriter of the class.

Mon 13 Jan 2020

Comment

Letting go can be hard to do…

Former Lloyd’s head of regulation and run-off expert Ken Randall lost none of his energy or Calvinistic work ethic when he recently entered his eighth decade. Testament to this is the recent transformation of his company R&Q after concluding it needed to repurpose to reflect the industry’s changing dynamics.

Mon 13 Jan 2020

News

Liberty’s $50mn Limestone Re BSX trade part of larger ILS placement

Liberty Mutual’s listing of $50mn of Limestone Re notes on the Bermuda Stock Exchange last week was part of a large placement with ILS partners as the giant carrier continues to use its sidecar structure to offload risk to alternative capital investors.

Mon 13 Jan 2020

Chaucer looks to IGI and Axis for political violence duo

News

People Moves

Chaucer looks to IGI and Axis for political violence duo

China Re’s Lloyd’s arm Chaucer plc has bolstered its political violence team with two hires from rival London market firms.

Mon 13 Jan 2020

News

Piiq continues build out with another WTW hire

Aerospace broker Piiq Risk Partners has appointed Ian George as senior partner, with the Willis Towers Watson director set to join the start-up later in the year.

Mon 13 Jan 2020

David Flandro

Managing Director, Analytics, Hyperion X

Mon 13 Jan 2020

News

Gallagher acquires UK reinsurance broker Capsicum Re

Arthur J Gallagher & Co has finally consolidated its ownership of reinsurance intermediary Capsicum Re after agreeing terms with the London firm’s majority owner-management and staff, it was confirmed today.

Mon 13 Jan 2020