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Chubb in Eur1.4bn fundraise for potential M&A

News

Results

Chubb in Eur1.4bn fundraise for potential M&A

Chubb INA Holdings, the US-based subsidiary of Chubb Limited, has priced a public offering of Eur700mn ($775.5mn) of senior notes due 2024 and Eur700mn of senior notes due 2029.

Wed 4 Dec 2019

Argo names former QBE exec Grange as executive vice president

News

People Moves

Argo names former QBE exec Grange as executive vice president

Jeff Grange will join Argo Group International Holdings as an executive vice president for US operations, leading Argo Casualty, Argo Pro, Argo Insurance, Rockwood and Argo Cyber.

Tue 3 Dec 2019

Liberty Mutual hands Beauvais expanded construction role

News

People Moves

Liberty Mutual hands Beauvais expanded construction role

Liberty Mutual’s Global Risk Solutions (GRS) unit has handed market veteran Ben Beauvais a newly created role designed to better support the carrier’s construction brokers and clients.

Tue 3 Dec 2019

Transverse hires IAT’s Allen as business development head

News

People Moves

Transverse hires IAT’s Allen as business development head

Susan Allen has joined program fronting start-up Transverse Insurance as head of business development, a role held by Shane Haverstick before his departure in October, The Insurer can reveal.

Tue 3 Dec 2019

News

Capital

Scor issues 3-year Eur300mn contingent capital facility

Scor has launched a three-year contingent capital facility in the form of a contingent equity line arranged by JP Morgan providing Eur300mn ($330mn) coverage against extreme natural catastrophe or life events impacting mortality.

Tue 3 Dec 2019

News

Legacy

RenRe engages TigerRisk and Morgan Stanley to sell UK legacy book

RenaissanceRe has appointed TigerRisk and Morgan Stanley to find a buyer for its £396mn ($514.6mn) UK legacy book which the (re)insurer inherited through its $1.5bn acquisition of Bermudian neighbour Tokio Millennium Re.

Tue 3 Dec 2019

Former Guy Carp broker Conmy returns after doughnut scandal

News

People Moves

Former Guy Carp broker Conmy returns after doughnut scandal

Former Guy Carpenter senior VP for marine & energy James Conmy has resurfaced at London market wholesaler Tysers after being forced out of the MMC-owned firm following a notorious email joke about doughnuts which went viral.

Tue 3 Dec 2019

1347 PIH considers options after FedNat closes Maison acquisition

News

M&A

1347 PIH considers options after FedNat closes Maison acquisition

FedNat Holding Company has completed the $51mn acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings (1347 PIH), with the seller transforming into a holding company of reinsurance and investment management businesses.

Tue 3 Dec 2019

News

People Moves

Blanc joins Aviva as non-exec

Aviva has appointed Amanda Blanc as an independent non-executive director of the UK insurer.

Tue 3 Dec 2019

CRC hits back at “frivolous” Burns & Wilcox emergency motion seeking TRO

News

Legal dispute

CRC hits back at “frivolous” Burns & Wilcox emergency motion seeking TRO

CRC Insurance Services has responded to rival wholesale broker Burns & Wilcox’s emergency motion for a temporary restraining order and preliminary injunction by questioning the timing of the filing and slamming the litigation as “baseless”.

Tue 3 Dec 2019

News

European businesses brace for challenging 2020: CNA Hardy

Business leaders based in Europe have identified cyber, regulatory compliance and economic risks as the top three concerns for 2020, with almost three quarters surveyed by CNA Hardy predicting a moderate to high risk trading environment in the new year.

Tue 3 Dec 2019

London-based Cuvva raises £15mn Series A funding

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Results

London-based Cuvva raises £15mn Series A funding

The London-based insurance startup Cuvva has raised a £15mn Series A from RTP Global, Breega and Digital Horizon.

Tue 3 Dec 2019

London market specie consortium facing loss for missing German art in China

News

Losses

London market specie consortium facing loss for missing German art in China

Fine art and specie underwriters in the London market are facing a loss following the disappearance of the works of German artists Markus Lüpertz, Anselm Kiefer and Renate Graf – valued at Eur300mn ($332.4mn) – which were on loan in China, The Insurer can reveal.

Tue 3 Dec 2019

R&Q’s Sellek takes over legacy role as Langridge steps down

News

People Moves

R&Q’s Sellek takes over legacy role as Langridge steps down

Randall & Quilter’s newly appointed Co-CEO Roger Sellek will become responsible for the group’s key legacy acquisitions unit, it has been confirmed today.

Tue 3 Dec 2019

Barbican’s Reeves, Harrington and Godfray set to leave as Arch deal completes

News

M&A

Barbican’s Reeves, Harrington and Godfray set to leave as Arch deal completes

Three members of Barbican’s senior management team – chief executive David Reeves, chief underwriting officer Mark Harrington and chief operating officer Jon Godfray – are to leave the carrier in the wake of its takeover by Arch, The Insurer understands.

Mon 2 Dec 2019

Burns & Wilcox steps up CRC dispute with emergency TRO motion

News

Legal dispute

Burns & Wilcox steps up CRC dispute with emergency TRO motion

Burns & Wilcox has filed an emergency motion for a temporary restraining order and preliminary injunction in its dispute with CRC Insurance Services, revealing that 46 employees have now defected to the rival wholesale broker.

Mon 2 Dec 2019