NewsPeople MovesAxa UK builds DA function with Hiscox and Ageas duoAxa UK has appointed Gary Head as director of delegated authorities, while Joel Markham takes on the role of sales and marketing head for delegated authorities.Mon 25 Nov 2019
NewsRatesReinsurers look set to eke out rate rises from IG as members increase premiumFor the first time in five years the International Group of P&I clubs (IG) looks set to concede more premium to reinsurers; mirroring the actions of individual clubs who are also charging members more in premium, The Insurer understands.Mon 25 Nov 2019
NewsPeople MovesFidelis hires Stewart for senior PV&T underwriterBermudian Fidelis Insurance has added Kayley Stewart to its London-based underwriting team as senior political violence and terrorism underwriter.Mon 25 Nov 2019
NewsCasualtySwiss Re bullish on US casualty market hardening; reassures on reserves adequacyAfter bolstering its US casualty reserves by $224mn at H1 2019, Swiss Re has reassured investors about the robustness of its long-tail reserves after a recent earnings quarter dominated by warnings over the industry’s exposure to rising tort inflation.Mon 25 Nov 2019
CommentIs Lloyd’s really rotten?Lloyd’s has a rotten culture, according to the Sunday Times and its business editor, Oliver Shah.Mon 25 Nov 2019
NewsPeople MovesBreckenridge adds broking VPs Hayes and MaizeBreckenridge Insurance Services has appointed John Hayes and Lisa Maize as vice presidents as the firm continues to build out its ranks.Mon 25 Nov 2019
NewsSwiss Re: once again #1 in $30bn+ cat reinsurance marketAfter years of managing down its nat cat market share, Swiss Re is once again the industry’s largest cat reinsurer with premiums expected to exceed $2.5bn in 2020, the Zurich-headquartered firm revealed today at an investor day.Mon 25 Nov 2019
NewsPeople MovesApollo names Grimsey chief actuaryApollo Syndicate Management has appointed Paul Grimsey as chief actuary.Mon 25 Nov 2019
NewsPeople MovesMcGill and Partners agrees recruitment ban with MarshExpansive broking house McGill and Partners has agreed not to poach broking staff from Marsh for up to three years following the take-over of a specialty portfolio in August this year, The Insurer understands.Mon 25 Nov 2019
NewsCasualty ReinsuranceHoltmeier files motion to dismiss claims brought against him by GC-JLT ReBMS’s chief strategy officer for reinsurance in the US Gregg Holtmeier has filed a motion to dismiss most of the claims brought against him by his former employer JLT Re and Guy Carpenter alleging breach of contract and other charges.Fri 22 Nov 2019
NewsMortgageFreddie Mac completes Aon-brokered $1.9bn MCIP re dealUS mortgage reinsurer Freddie Mac has closed its second Multifamily Credit Insurance Pool (MCIP) reinsurance transaction, called MCIP 2019-R2, at $1.87bn for 88 multifamily loans.Fri 22 Nov 2019
NewsGreat American joins LiquidX trade credit networkGreat American and its subsidiary FCIA Management Company has issued its first policy through the LiquidX network, insuring asset manager Highmore Group Advisors through the network’s trade credit insurance marketplace.Fri 22 Nov 2019
NewsPeople MovesHDI Global USA reshuffles exec leadershipHDI Global USA has promoted chief underwriting officer Jim Clark to the role of CEO, succeeding president and CEO Lothar Becker.Fri 22 Nov 2019
NewsPeople MovesRokstone swoops on Alesco’s AnsonRokstone Underwriting, the ambitious London-headquartered MGA, has hired Alesco energy broker Ian Anson as lead underwriter within its burgeoning property team, The Insurer can reveal.Fri 22 Nov 2019
NewsCapita Managing Agency names Sykes CEOCapita Managing Agency (CMA) has named former Vibe Syndicate Management director Simon Sykes as CEO, The Insurer can reveal.Fri 22 Nov 2019
NewsCommercial insuranceCAC Specialty launches environmental practice led by SchilzExpansive Fortress-backed broker CAC Specialty has hired former JLT executive Gregory Schilz to lead its newly formed environmental practice group.Fri 22 Nov 2019