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Construction

Heavy construction industry MGU NBIS appoints Sandler O’Neill for potential sale

Atlanta-based program administrator and managing general underwriter (MGU) Nation Builders Insurance Services (NBIS) is working with boutique investment advisory firm Sandler O’Neill ahead of a potential sale, The Insurer can reveal.

Wed 27 Nov 2019

News

Chubb Syndicate 2488 cleared for near 20% capacity increase

Chubb’s flagship Syndicate 2488 has secured Lloyd’s approval for its 2020 stamp capacity to increase by 18.5 percent, The Insurer can reveal.

Wed 27 Nov 2019

Carriers reassess 100% property deals in shift to shared and layered

News

Commercial property

Carriers reassess 100% property deals in shift to shared and layered

Increasingly, US commercial property risks that had been written 100 percent by a single carrier are moving to shared and layered placements as underwriters look to better manage volatility.

Wed 27 Nov 2019

News

Marsh JLT fights back against NFP Cali transfer request

JLT has called on a Manhattan judge to decline defendant NFP’s attempt to have the bitter legal battle between the two broking houses – over the appointment of 13 executives – transferred from New York to California.

Wed 27 Nov 2019

News

Lockton hires from Marsh and WTW to form LatAm fac team

Lockton has made a significant play in the Latin American facultative reinsurance space with the hire of Marsh’s Andrew Perry and Willis Towers Watson (WTW)’s Edward Fyfe as regional executives.

Wed 27 Nov 2019

News

P&I

Gard appoints Nilssen London CUO

Protection and indemnity (P&I) insurer Gard has promoted Magne Nilssen to the newly created post of chief underwriting officer for London.

Wed 27 Nov 2019

News

MS Amlin restructure continues with CEO Beale moved to new role

Simon Beale is to step down from the helm of Lloyd’s (re)insurer MS Amlin as its parent company continues to impose greater oversight on the business while simplifying its corporate structure.

Wed 27 Nov 2019

News

People Moves

Tysers names Allen Bermuda director

Integro-owned broker Tysers has appointed Christina Allen as a director in Bermuda.

Wed 27 Nov 2019

Fortitude Re sale “incrementally positive” for AIG: AM Best

News

M&A

Fortitude Re sale “incrementally positive” for AIG: AM Best

Rating agency AM Best has affirmed American International Group’s ‘bbb’ rating and stable outlook in the wake of the Fortitude Re deal, citing the “incrementally positive” impact the move will have on the AIG’s reserves.

Wed 27 Nov 2019

News

Canopius’ Turner re-emerges at Pioneer

Pioneer Underwriters has hired Philip Turner as a specie underwriter within the marine specialty team.

Wed 27 Nov 2019

News

Patriot adds SIG to fuel Florida expansion

Expansive US insurance agency Patriot Growth Insurance Services has entered the Florida marketplace through the addition of Shapiro Insurance Group (SIG) to its platform.

Wed 27 Nov 2019

News

State Farm enters Florida E&S homeowners platform

State Farm’s E&S platform Dover Bay Specialty Insurance Company has begun underwriting in Florida as the US insurance giant looks to broaden its offering in the Sunshine State to coastal areas it had retreated from in the last decade, The Insurer can reveal.

Tue 26 Nov 2019

News

MS Amlin poised to unveil next chapter in transformation program

MS Amlin will shortly unveil the next stage of its transformation program following the losses of 2017-18 which may see further changes to its senior management and reporting lines following the recent creation of three new head of underwriting roles.

Tue 26 Nov 2019

News

Whitespace continues e-trading platform rollout

Electronic trading platform and PPL rival Whitespace has gained over 10 new customers in recent weeks as the likes of Convex, Markel, Munich Re and Chubb all sign up to the platform, The Insurer understands.

Tue 26 Nov 2019

Spinnaker seeking new investment for growth

News

Capital

Spinnaker seeking new investment for growth

Fronting specialist Spinnaker Insurance Company has been running a process to seek an investment partner as it looks to raise capital to fuel further growth, including into the E&S space, The Insurer can reveal.

Tue 26 Nov 2019

News

Voce calls for Argo shareholders to back ‘special meeting’ to replace five board members

Activist investor Voce Capital has reignited its ongoing spat with Bermudian carrier Argo, calling on shareholders to support a ‘special meeting’ where it could ultimately replace five members of the board.

Tue 26 Nov 2019