CommentResultsArdonagh 9M: a bellwether or reality checkAfter private equity-owned Ardonagh reported a notable uptick in its underlying performance in the first half of the year, The Insurer asks whether its’ nine-month financials – expected later today – could place the ambitious UK broker consolidator firmly in the black.Wed 20 Nov 2019
NewsAon acquires insurtech CoverWalletAon has agreed to acquire commercial insurtech CoverWallet in a bid to target the rapidly growing small-to-medium sized enterprise (SME) market via digital distribution.Wed 20 Nov 2019
NewsPeople MovesAspen Re Dubai and Miami offices to closeAspen is closing the Dubai and Miami offices of its reinsurance operations and transferring business from Lloyd’s China to its Singapore arm as it looks to create a more streamlined platform under its new management team, The Insurer can reveal.Wed 20 Nov 2019
NewsResultsIGI top line up 16% in Q3Dubai-based International General Insurance Holdings has booked a 16 percent increase in gross written premium for the three months ended 30 September 2019 as GWP topped $74mn, up from $64mn reported in the same period last year.Wed 20 Nov 2019
NewsRenRe Syndicate 1458 stamp capacity to increase by 9%RenaissanceRe Syndicate 1458 has secured Lloyd’s approval for 2020 stamp capacity to increase by some 9 percent, The Insurer can reveal.Wed 20 Nov 2019
NewsHDI Global Specialty targets Eur100mn UW profit in 2022HDI Global Specialty, the specialty arm of German (re)insurer Talanx, has projected an underwriting result of Eur100mn ($110.6mn) in 2022, the carrier’s third year of operation.Wed 20 Nov 2019
NewsAon logo withdrawn from Prince Andrew charity websiteAon’s logo has been taken down from a website for one of Prince Andrew’s charities, Pitch@Palace, intended as a platform to boost the work of entrepreneurs.Wed 20 Nov 2019
NewsNeon cites retro crunch as it shuts down Bermuda and exits cat reinsuranceLloyd’s (re)insurer Neon will cease writing property treaty reinsurance and intends to close its Bermuda platform as a result of hardening in the retro market, The Insurer can reveal.Wed 20 Nov 2019
NewsPeople MovesTravelers to cease writing cargo at Lloyd’sUS carrier Travelers is exiting cargo business at Lloyd’s, The Insurer understands.Wed 20 Nov 2019
NewsCommercial propertyHouse sends bill including 1-month NFIP extension to SenateThe US House of Representatives has passed a continuing resolution that would fund the government through 20 December, with the stopgap measure now heading to the Senate.Wed 20 Nov 2019
NewsLegal disputeNJ Transit excess insurers must cover $400mn limits for Sandy loss: courtAn appeals court has ruled that excess insurers’ $100mn flood sublimit does not apply and New Jersey Transit (NJT) is entitled to coverage up to the full $400mn policy limits for Superstorm Sandy-related water damage.Tue 19 Nov 2019
NewsLegal/ RegulatoryTripra extension bill passed in US House, clears Senate committeeThe US House of Representatives has passed a bill that would extend the federal terrorism risk insurance programme for seven years, with a companion bill in the Senate subsequently clearing a key committee.Tue 19 Nov 2019
AnalysisLloyd’s 2020 stamp capacityAs the “coming-into-line” date fast approaches, The Insurer is surveying Lloyd’s (re)insurers on their approved 2020 stamp capacity. Overall the average is up but there are also some significant retrenchments including syndicate closures and a £250mn reduction from MS Amlin’s Syndicate 2001.Tue 19 Nov 2019
NewsA&HStarStone exits A&H in the USEnstar-owned StarStone is to stop writing accident and health business in the US, The Insurer understands.Tue 19 Nov 2019
NewsCyberCube raises $35mn in Series B roundInsurtech CyberCube has secured $35mn in its latest funding round, led by Hudson Structured Capital Management (HSCM Bermuda) and ForgePoint Capital.Tue 19 Nov 2019
NewsPeople MovesSompo International replaces CEO Frudd with OkumuraSompo International has appointed Mikio Okumura as chief executive officer, succeeding Nigel Frudd.Tue 19 Nov 2019