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MGA start-up Helix secures QBE capacity for property launch

News

Commercial property

MGA start-up Helix secures QBE capacity for property launch

Bermudian start-up multiline MGA Helix Underwriting Partners is set to begin underwriting after securing QBE capacity to support its debut offering in US property insurance, The Insurer can reveal.

Thu 9 Jan 2020

News

Aviation

Ukrainian Airlines loss likely to fall on aviation war market

The aviation war market looks increasingly set to absorb losses from the Ukrainian International Airlines (UIA) plane that crashed near Tehran with 176 people on board, if media reports today that Iran mistakenly shot down the aircraft prove to be correct.

Thu 9 Jan 2020

New VC fund Brewer Lane welcomes XL Innovate’s Notaras

News

People Moves

New VC fund Brewer Lane welcomes XL Innovate’s Notaras

XL Innovate’s former leader Martha Notaras has joined newly formed venture capital firm Brewer Lane Ventures to target opportunities in the insurtech and fintech markets.

Thu 9 Jan 2020

US hit with 14 $1bn+ loss events in 2019: NOAA

News

Losses

US hit with 14 $1bn+ loss events in 2019: NOAA

Economic losses from US weather and climate disaster events totalled $45bn last year, slightly above the 40-year average of $43.9bn, according to a report from NOAA.

Thu 9 Jan 2020

News

Commercial property

Intact facing C$115mn Q4 cat bill

Canada’s Intact Financial Corporation has warned investors its fourth quarter 2019 results will include a pre-tax catastrophe bill of some C$115mn (US$85.8mn), equal to $0.60 per share.

Thu 9 Jan 2020

Comment

Lloyd’s takes a lead – and should be congratulated

One advantage of tough times is that it enables an institution to examine all its established practices that otherwise remain unchallenged when the sun is shining.

Thu 9 Jan 2020

Haverstick joins program start-up Sutton National as CEO

News

Fronting carriers

Haverstick joins program start-up Sutton National as CEO

Shane Haverstick has re-emerged in the market as CEO of proposed program carrier start-up Sutton National Insurance Company (SNIC), The Insurer can reveal.

Thu 9 Jan 2020

News

Energy

Axis strengthens renewable energy team with GCube hire

Axis Insurance has appointed Sam Walsh as senior underwriter and Mat Pifer as an underwriter in its renewables division.

Thu 9 Jan 2020

Coverys MGA platform makes first acquisition

News

M&A

Coverys MGA platform makes first acquisition

Coverys European Holdings Limited (CEH), the professional lines MGA investment platform launched by Coverys Managing Agency earlier this week, has made its first acquisition in the form of Lloyd’s coverholder AEC SpA.

Thu 9 Jan 2020

News

Capital

RenRe-structured capital market funds back Beazley cyber cat risks

RenaissanceRe and Beazley have launched a product to broaden the blue-chip insurer’s catastrophe cover for cyber events, with the majority of the security to be provided by capital sources structured by RenRe.

Thu 9 Jan 2020

News

Casualty

Lloyd’s picks marine and casualty classes to trial lead-follow overhaul

Lloyd’s has unveiled that marine hull and international casualty binders will be the first lines to partake in the refreshed lead-follow pilot under the transformative Future at Lloyd’s Blueprint One scheme, a key initiative in CEO John Neal’s determination to drive down the market’s bloated cost structure.

Thu 9 Jan 2020

Chaucer greenlighted to write US excess and surplus lines

News

Legal/ Regulatory

Chaucer greenlighted to write US excess and surplus lines

Specialty carrier Chaucer has received regulatory approval to write excess and surplus lines across the United States through its Ireland-domiciled insurer, Chaucer Insurance Company DAC.

Thu 9 Jan 2020

Buxton joins Willis Re to spearhead non-traditional reinsurance

News

People Moves

Buxton joins Willis Re to spearhead non-traditional reinsurance

Willis Re has hired Simon Buxton from Allianz Global Corporate & Specialty (AGCS) as managing director of its international customised reinsurance practice, which focuses on non-traditional reinsurance.

Thu 9 Jan 2020

Gossmann & Cie acquires Sovag as it looks to build Munich Re partnership

News

Legacy

Gossmann & Cie acquires Sovag as it looks to build Munich Re partnership

Hamburg-headquartered run-off specialist Gossmann & Cie has acquired German insurer Sovag as the firm looks to scale up its partnership with Munich Re through ExPro.

Thu 9 Jan 2020

Catalina strengthens UK corporate governance after FCA scrutiny

News

Legacy

Catalina strengthens UK corporate governance after FCA scrutiny

Bermudian-headquartered legacy firm Catalina Holdings has added Walter Gontarek and Bob Howe to the board of its UK subsidiaries as independent non-executive directors (INEDs) after the firm fell victim to a Section 166 review by the UK’s Financial Conduct Authority (FCA) last year.

Thu 9 Jan 2020

NFP adds USI’s Stevenson to west coast team

News

People Moves

NFP adds USI’s Stevenson to west coast team

NFP has continued its recent expansion drive by hiring USI’s Tyson Stevenson to lead its sales function in the western region in the US, The Insurer can reveal.

Thu 9 Jan 2020