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Apollo in the frame for Lloyd’s captive venture

News

Captives

Apollo in the frame for Lloyd’s captive venture

Lloyd’s managing agent Apollo Syndicate Management is understood to be consulting with prospective clients with a view to establishing a new captive syndicate at Lloyd’s, The Insurer can reveal.

Fri 22 Nov 2019

News

CatCo discloses 25% dent to 2019 capital on Dorian, Faxai and Hagibis

Markel CatCo has announced that the impact of North Atlantic Hurricane Dorian and Japanese Typhoons Faxai and Hagibis on the investment manager’s loss reserves reduced capital deployed this year by 25 percent.

Fri 22 Nov 2019

Comment

The clock is ticking

As The Insurer reported earlier today, AJG currently has only one more week before its call option to acquire London market reinsurance broker Capsicum Re under a pre-determined formula expires.

Fri 22 Nov 2019

News

MMC Insights chair Drzik steps back from GR&D role

Global risk and digital president at Marsh, John Drzik, is stepping back from his full-time responsibilities in this role, but will remain chairman of Marsh & McLennan’s Insights division.

Fri 22 Nov 2019

Clock ticking for Gallagher to trigger Capsicum Re buyout option

News

M&A

Clock ticking for Gallagher to trigger Capsicum Re buyout option

Time is running out for AJ Gallagher (AJG) to call in its option to acquire the 80 percent it doesn’t currently own in the London market reinsurance intermediary Capsicum Re.

Fri 22 Nov 2019

AM Best maintains negative outlook on Labuan Re

News

Rating actions

AM Best maintains negative outlook on Labuan Re

AM Best has maintained its A- financial strength rating with a negative outlook on Malaysian reinsurer Labuan Re.

Fri 22 Nov 2019

Golden Ray to cost P&I market at least $125mn

News

Losses

Golden Ray to cost P&I market at least $125mn

Carriers on the P&I slip for the capsized vessel Golden Ray are expecting losses of at least $125mn, The Insurer can reveal.

Fri 22 Nov 2019

News

Accredited enters program partnership with Trinity Transportation

Randall & Quilter Investment Holdings (R&Q) Floridian subsidiary Accredited Surety and Casualty Company has entered into a new program partnership with Trinity Transportation Services (TTS).

Fri 22 Nov 2019

News

MMC authorizes $2.5bn share buyback

The board of New York-listed Marsh & McLennan Companies (MMC) has approved the renewal of a share repurchase program, allowing management to buy back up to $2.5bn of the broking giant’s common stock.

Fri 22 Nov 2019

News

AM Best shifts Sirius outlook to negative

Ratings agency AM Best has revised the outlook of Sirius International Insurance Group (SIIG) holding company and its Bermudian, US and International (Sweden) operating companies to negative from stable, as above-average catastrophe events take their toll on performance.

Fri 22 Nov 2019

Starr Companies considering whole account quota share

News

Commercial insurance

Starr Companies considering whole account quota share

Starr Insurance Companies is looking to do a whole account quota share with reinsurers that would sit across an estimated $3bn+ underlying book of business that is seeing significant growth in the hardening market, The Insurer can reveal.

Thu 21 Nov 2019

Aspen Re sells global credit & surety renewal rights to Arch Re

News

M&A

Aspen Re sells global credit & surety renewal rights to Arch Re

Arch Re has entered into a renewal rights agreement to take over Aspen Re’s global credit and surety reinsurance business after Aspen Re’s decision to exit the line.

Thu 21 Nov 2019

Retro-driven reinsurance increases will add to US property momentum: AIG

News

Commercial property

Retro-driven reinsurance increases will add to US property momentum: AIG

Reinsurers will start passing on higher retro costs to primary carriers, adding momentum to US commercial property insurance pricing that still needs to increase 40 percent to get back to 2009 levels, according to AIG executive Kean Driscoll.

Thu 21 Nov 2019