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BMS builds capital advisory unit with Orloff hire

News

People Moves

BMS builds capital advisory unit with Orloff hire

BMS has appointed Alex Orloff as director of capital markets analytics within its Capital Advisory division, the (re)insurance broker’s investment banking arm.

Mon 16 Dec 2019

CCR Re adds Zurich’s Plaxton as Canadian and Caribbean non-life head

News

People Moves

CCR Re adds Zurich’s Plaxton as Canadian and Caribbean non-life head

CCR Re, the open market reinsurance arm of French state-backed CCR, has hired Mélissa Plaxton as vice president, taking responsibility for non-life reinsurance business in the Canadian and Caribbean.

Mon 16 Dec 2019

News

People Moves

Amanda Blanc lands third NED role

Trov, a mobility and gig economy-focused insurtech, has added former Axa and Zurich exec Amanda Blanc as a senior advisor, marking the third non-executive role she has taken up this month.

Mon 16 Dec 2019

Comment

Brexit

Brexit already happened a long time ago…

A fool-proof method of losing readers before the first line is even glanced at is to place “Brexit” in the headline, so this article begins by thanking those who persevere.

Mon 16 Dec 2019

Chaucer makes trio of US and international property hires

News

People Moves

Chaucer makes trio of US and international property hires

Specialty carrier Chaucer has made three hires to its US and international property division, with Chance Gilliland joining as head of US property insurance, Mel Smart as head of international property fac and Michael Johnston as deputy class underwriter, international property binders.

Mon 16 Dec 2019

IGI takes MS Amlin’s Fox for ports and terminals underwriter

News

Marine

IGI takes MS Amlin’s Fox for ports and terminals underwriter

International General Holdings has appointed Vickie Fox as ports and terminals underwriter, to build out its London marine team.

Mon 16 Dec 2019

Mapfre issues profit warning as pegs Japanese typhoons and Chile riots Eur140mn

News

Results

Mapfre issues profit warning as pegs Japanese typhoons and Chile riots Eur140mn

Spanish (re)insurance giant Mapfre has warned investors it will have to revise its 2019-2021 strategic plan as it expects to suffer losses as high as Eur140mn ($156mn) stemming from Japanese typhoons Faxai and Hagibis as well as recent disturbances in Chile.

Mon 16 Dec 2019

News

Construction

Aon names Grandmaison construction chief broking officer

Aon has appointed Thomas Grandmaison as chief broking officer within its construction services group, The Insurer has learned.

Fri 13 Dec 2019

Florida Citizens will look at options to further reduce exposure

News

Homeowners insurance

Florida Citizens will look at options to further reduce exposure

The board of Florida’s state-backed carrier Citizens has responded to calls to further cut its policy count by agreeing to seek an outside review of options to reduce its footprint while continuing to protect property owners in the Sunshine State.

Fri 13 Dec 2019

News

Rating actions

AM Best goes negative on Barents Re

AM Best has cut the outlook on its A rating for Barents Re to negative from stable because of a decline in profitability in recent years.

Fri 13 Dec 2019

Insurers commit additional $15mn payment on PES refinery loss

News

Commercial property

Insurers commit additional $15mn payment on PES refinery loss

Insurers on PES Holdings’ $1.25bn insurance programme have now committed $65mn of payments from June’s fire and explosion at a crude oil refinery in Philadelphia, according to bankruptcy filings.

Fri 13 Dec 2019

PG&E on track to join state wildfire fund after filing reorganisation plan

News

Wildfires

PG&E on track to join state wildfire fund after filing reorganisation plan

PG&E has filed an amended reorganisation plan after settling its major wildfire claims and resolving its various disputes involving victims and insurers, with the utility on track to meet the deadline for participating in California’s wildfire fund.

Fri 13 Dec 2019

Integrand dispute with reinsurers moved to arbitration

News

Legal dispute

Integrand dispute with reinsurers moved to arbitration

Puerto Rico insurer Integrand has failed in its efforts to avoid arbitration of its dispute with reinsurers including Everest Re, Odyssey Re and Swiss Re over $56mn of claims from 2017’s hurricanes Irma and Maria.

Fri 13 Dec 2019

News

Ping An fintech unit OneConnect raises $312mn in downsized IPO

Ping An’s fintech arm OneConnect has raised $312mn in a New York listing, 40 percent below the maximum proceeds targeted earlier this month.

Fri 13 Dec 2019

Analysis

Lloyd’s 2020 stamp capacity grows 6%

Lloyd’s will operate with a total market stamp capacity in the region of £33bn ($43bn) in 2020, up circa 6 percent year-on-year as many market participants gain business plan approval to increase capacity at 1.1.

Fri 13 Dec 2019

Miller takes Aon’s Taylor for international finpro head

News

People Moves

Miller takes Aon’s Taylor for international finpro head

Broker Miller has appointed Scott Taylor to lead its international wholesale financial institutions and directors’ & officers’ practice.

Fri 13 Dec 2019