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Hamilton to leverage technology across underwriting platform

News

M&A

Hamilton to leverage technology across underwriting platform

Two Sigma-backed Hamilton Insurance Group is looking to apply greater technology and data science to underwriting across its platform, according to recently appointed CFO Tony Ursano.

Wed 6 Nov 2019

News

Argo shares climb 7% on Watson exit

Shares in Argo Group climbed over 7 percent in early trading in New York on Wednesday as investors reacted to yesterday’s announcement that long-serving CEO Mark Watson III is stepping down.

Wed 6 Nov 2019

White Mountains’ NSM delivers top and bottom line growth

News

Results

White Mountains’ NSM delivers top and bottom line growth

White Mountains has reported 16 percent growth in comprehensive income to $46.3mn for the third quarter as its results benefited from strong top and bottom line growth at MGA platform NSM.

Wed 6 Nov 2019

News

Korean insurance market 'stagnant' as new premiums slump into 2020

The Korean insurance market remains “persistently stagnant” amid a slowing economy and increasing market maturity, with declining trade volume and intensifying price competition forecast to stall new property and casualty (P&C) premiums over 2020, domestic carrier Korean Re has said.

Wed 6 Nov 2019

Argo share price a bellwether for future?

Analysis

People Moves

Argo share price a bellwether for future?

Investors reacted positively to yeterday’s news of Argo CEO Mark Watson’s sudden departure. Some may have been encouraged by what they see as an increased likelihood of a sale, others may see opportunity in a clean slate and a new chapter in increasingly attractive market conditions.

Wed 6 Nov 2019

News

TMHCC broadens Harmeyer’s leadership

Tokio Marine HCC has appointed Thomas Harmeyer to the role of executive vice president, adding oversight of aviation, claims, business innovation and global marketing to his suite of responsibilities.

Wed 6 Nov 2019

News

Beazley extends online specialty platform to Germany

Blue chip insurer Beazley has launched its electronic trading platform – myBeazley – in Germany, allowing brokers to place management liability (ML), professional indemnity (PI) and cyber risks with the carrier.

Wed 6 Nov 2019

Hannover Re sees 9M P&C profit fall by 8.4% on large losses impact

News

Results

Hannover Re sees 9M P&C profit fall by 8.4% on large losses impact

Hannover Re saw operating profits in property and casualty reinsurance fall by 8.4 percent to Eur919.0mn ($1.01bn) in the nine months to 30 September as a result of an uptick in large losses at Eur545.9mn, including Eur112.4mn from the collapse of Thomas Cook.

Wed 6 Nov 2019

HCI GWP up 7.6% in Q3 on insurtech TypTap growth

News

Results

HCI GWP up 7.6% in Q3 on insurtech TypTap growth

HCI Group has reported consolidated gross written premiums of $97.3mn, up 7.6 percent from $90.4mn in the third quarter of 2018, reflecting the growth of insurtech subsidiary TypTap Insurance.

Wed 6 Nov 2019

Applied rails at California regulator after court order to conserve CIC

News

Legal/ Regulatory

Applied rails at California regulator after court order to conserve CIC

A court has appointed a conservator and blocked the attempted merger of Applied Underwriters subsidiary California Insurance Company (CIC) with a New Mexico-based insurer, in the latest twist in the buyout of the workers compensation insurer from Berkshire Hathaway.

Wed 6 Nov 2019

Third Point Re Q3 GWP surges on one retroactive reinsurance contract

News

Results

Third Point Re Q3 GWP surges on one retroactive reinsurance contract

Third Point Re has reported a large increase in gross written premiums as well as an improvement in the combined ratio for the third quarter.

Wed 6 Nov 2019

News

Watson shares valued at $2.23mn put in escrow to pay back expenses

Departing CEO Mark Watson has agreed to reimburse Argo Group for certain of his personal expenses paid for by the company and will place vested shares valued at $2.23mn in escrow to cover a sum that will be determined by an ongoing investigation.

Tue 5 Nov 2019

Cats and reinsurance costs drive FedNat Q3 CR to 105.5%

News

Results

Cats and reinsurance costs drive FedNat Q3 CR to 105.5%

Florida-based insurer FedNat Holdings has announced a 5.2 point increase in its third quarter combined ratio to 105.5 percent, up from 100.3 percent in the prior year period.

Tue 5 Nov 2019

News

Alleghany cites E&S and improving casualty reinsurance as op profits surge

RSUI and TransRe parent Alleghany reported third quarter operating profits of $109.8mn compared to a $16.0mn loss in the prior-year period as it highlighted the benefits of a tightening E&S market and improving pricing conditions for its reinsurance book.

Tue 5 Nov 2019

News

People Moves

Watson “retires” as Argo Group CEO

Mark Watson is stepping down immediately as CEO of Argo Group International Holdings with Kevin Rehnberg moving into the position on an interim basis.

Tue 5 Nov 2019

Risk Strategies secures further $1.6bn debt financing to fuel growth

News

Capital

Risk Strategies secures further $1.6bn debt financing to fuel growth

Privately held insurance brokerage Risk Strategies has announced a $1.6bn debt facility to support its refinancing, with Golub Capital acting as the administrative agent.

Tue 5 Nov 2019