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Comment

Revenge is a dish best served cold

Does anything taste better than a cold dish of revenge?

Fri 10 Jan 2020

RKH Specialty builds marine team with SSL Endeavour’s Martin

News

People Moves

RKH Specialty builds marine team with SSL Endeavour’s Martin

Hyperion-owned RKH Specialty has added Gillian Martin as a director in its marine division, The Insurer can reveal.

Fri 10 Jan 2020

Analysis

AFG counts the cost of its enervating Lloyd’s experience

American Financial Group’s decision earlier this week to withdraw from the Lloyd’s market – taking a $50-60mn Q4 charge in the process – marks the end of a painful relationship that has cost the Cincinnati-headquartered insurance group over $500mn in entry and departure fees and underwriting losses in between, analysis by The Insurer shows.

Fri 10 Jan 2020

Demotech issues downgrade threat as Florida homeowners pressure mounts

News

Homeowners insurance

Demotech issues downgrade threat as Florida homeowners pressure mounts

Demotech has warned that it could downgrade up to 19 Florida homeowners carriers once it has reviewed year-end 2019 financials as the deteriorating operating environment in the state continues to impair profitability.

Fri 10 Jan 2020

Liberty Mutual appoints PE & MA practice leader

News

People Moves

Liberty Mutual appoints PE & MA practice leader

Liberty Mutual Insurance has promoted Amy Gross to the newly created role of practice leader, private equity and mergers & acquisitions.

Fri 10 Jan 2020

News

People Moves

Markel takes QBE’s Singh for India CUO

Markel International has appointed Anirudh Singh as chief underwriting officer for India.

Fri 10 Jan 2020

News

Aviation

Starr fuels aviation momentum with another Swiss Re hire

Expansive Starr Insurance has appointed Paul O’Ryan to the newly created role of vice president and Canadian territory manager for general aviation, following the December appointment of Carsten Nawrath to lead the build out of a new operation in Munich, Germany.

Fri 10 Jan 2020

Breach premiums in Gulf up 0.2 – 0.5 percent of hull value

News

Marine

Breach premiums in Gulf up 0.2 – 0.5 percent of hull value

Marine war premiums have jumped between 0.2 and 0.5 percent of the insured value of a vessel for transit through the Persian Gulf, as underwriters of the class respond to the escalating international disputes between the US and Iran.

Fri 10 Jan 2020

News

Cyber

Marsh JLT Specialty looks to Stephens for head of international cyber

MMC’s specialty arm, Marsh JLT Specialty, has broadened Sarah Stephens’ role to include head of cyber, international, with immediate effect.

Fri 10 Jan 2020

Former Beazley CUO Maidment joins Ecclesiastical board

News

People Moves

Former Beazley CUO Maidment joins Ecclesiastical board

Specialist charity insurer Ecclesiastical has appointed former Beazley chief underwriting officer Neil Maidment as a non-executive director (NED).

Fri 10 Jan 2020

News

Aviation

LSM names Walker aviation head as Halligan takes advisory role

Meghan Walker has been named head of aviation at Liberty Specialty Markets, as former leader of seven years – Bill Halligan– steps down into the newly created role of underwriting specialist for aviation.

Fri 10 Jan 2020

News

Losses

Bushfire cat losses escalate to A$1bn: ICA

Claims continue to mount after four months of damaging bushfires throughout Australia and have now reached 10,550, equating to insured losses of A$995mn ($687.3mn), according to the latest update from the Insurance Council of Australia (ICA).

Fri 10 Jan 2020

Australia’s Treasury demands property loss data as bushfire costs mount

News

Losses

Australia’s Treasury demands property loss data as bushfire costs mount

Australia’s Federal Treasurer Josh Frydenberg has issued a call to insurers to provide the Treasury with an unparalleled amount of individual property claims data emanating from the devastating bushfires currently burning across the country.

Fri 10 Jan 2020

News

Transatlantic broking start-up takes flight with $500mn+ market in its sights

BGC Insurance’s aerospace broking start-up has fired a challenge to the three intermediaries who currently dominate the $500mn international aerospace market by revealing its determination to disrupt what it claims is a cosy status quo that fails to deliver on its clients’ needs.

Fri 10 Jan 2020

News

Losses

Mounting bushfire losses push Suncorp close to agg attachment

Suncorp is as little as A$50mn away from meeting the attachment point of its A$300mn natural hazard aggregate protection (NHAP) cover as losses from the spate of bushfires currently ravaging Australia mount up.

Fri 10 Jan 2020

News

Cyber

AkinovA-Hiscox trade looks to bring new capacity to cyber risks

The placement by Guy Carpenter of a Hiscox-structured and underwritten parametric cyber risk transfer on the AkinovA platform is aimed at opening the door to attract new capacity that can address the huge exposures arising from the peril.

Thu 9 Jan 2020