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Lloyd’s raises £300mn of senior debt to fund Future at Lloyd's programme

Lloyd’s has secured £300mn ($396.6mn) of senior debt in order to finance the first stages of its transformation programme, The Future at Lloyd’s.

Tue 10 Dec 2019

Brown & Brown to buy Canadian MGA Special Risk

News

M&A

Brown & Brown to buy Canadian MGA Special Risk

Brown & Brown’s programs platform has agreed a deal to buy Canadian MGA Special Risk Insurance Managers as the US intermediary looks to build its presence north of the border.

Mon 9 Dec 2019

Q3 saw largest US commercial price shift since 2013: CLIPS

News

Rates

Q3 saw largest US commercial price shift since 2013: CLIPS

US commercial insurance prices accelerated in the third quarter, with an aggregate price change reported by carriers exceeding 4 percent, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS).

Mon 9 Dec 2019

News

Insurtech Duck Creek attracts $120mn funding

Duck Creek Technologies has secured a total investment of $120mn from a panel of four backers in its latest funding round.

Mon 9 Dec 2019

Swiss Re significantly grows retro sidecar by 60%+ despite headwinds

Analysis

Property catastrophe

Swiss Re significantly grows retro sidecar by 60%+ despite headwinds

Swiss Re is targeting investors that may have lost confidence elsewhere in the ILS market as it looks to build on a year when it has already tapped $900mn of additional third-party capital for its Sector Re sidecar and cat bond retro strategies.

Mon 9 Dec 2019

Watford to buy $155mn GWP carrier Axeria IARD

News

M&A

Watford to buy $155mn GWP carrier Axeria IARD

Bermudian Watford Holdings has agreed to acquire French property and casualty (P&C) insurer Axeria IARD, which has in-force gross written premiums of around Eur140mn ($155mn).

Mon 9 Dec 2019

News

People Moves

Chandler named BMS US reinsurance CEO

BMS Group has appointed Pete Chandler as CEO of BMS Re US, adding to the president role he took when he joined the reinsurance intermediary in May this year.

Mon 9 Dec 2019

News

Kilimanjaro III upsizes to $850mn as ILS investors show cat bond enthusiasm

ILS investors’ renewed enthusiasm for catastrophe bonds was highlighted today when Everest Re’s Kilimanjaro III more than doubled in size from its initial target.

Mon 9 Dec 2019

Christopher Buse

Chief Underwriting Officer, Reinsurance, North America, AXA XL

Mon 9 Dec 2019

Falling UK investment driven by low business confidence: CNA Hardy

News

Results

Falling UK investment driven by low business confidence: CNA Hardy

Low business confidence is set to extend into the new year, with falling investment figures in the UK attributed to ongoing Brexit uncertainty.

Mon 9 Dec 2019

James C. Drinkwater

President, AmWINS Group, Inc.

Mon 9 Dec 2019

News

Aviation

Gallagher continues aviation team build-out with Drowley hire

Arthur J Gallagher has made the latest senior hire to its growing aviation team, adding Neil Drowley as head of policy wordings in the broker’s global aerospace practice.

Mon 9 Dec 2019

News

Global Parametrics and Hannover Re launch impact fund

Parametric and index-based risk transfer firm Global Parametrics (GP) has launched a new natural catastrophe focused investment fund with backing from Hannover Re and the German government.

Mon 9 Dec 2019

News

LIIBA launch committee to replace BPED and PPL broker panel

The London and International Brokers’ Association (LIIBA) has unveiled plans for a new committee in 2020, called the Broker Placing Committee (BPC).

Mon 9 Dec 2019

News

Everest Re cat bond Kilimanjaro expands to $800+mn on strong ILS demand

ILS investors’ renewed enthusiasm for catastrophe bonds will be highlighted today when Everest Re’s Kilimanjaro III more than doubles in size from its initial target.

Mon 9 Dec 2019

News

Neal welcomes first Lloyd’s ILS fund via Brit’s Sussex platform

Lloyd’s CEO John Neal has welcomed Brit Ltd’s launch of an ILS fund to support the expansion of its third-party capital Syndicate 2988.

Mon 9 Dec 2019