NewsLossesEverest pegs Q3 cat losses at $280mn; RenRe at $155mnEverest Re and RenaissanceRe have become the latest Bermudians to preannounce third quarter loss estimates dominated by the impact of Hurricane Dorian and Typhoon Faxai.Tue 15 Oct 2019
NewsPeople MovesWTW appoints Hurley as gig economy broking directorWillis Towers Watson has named Joseph Hurley a director in its corporate broking and risk division, to lead the firm’s platform for the marketplace, sharing and gig economy.Tue 15 Oct 2019
NewsAviationQ4 airline exits accelerate MS Amlin run-off plansMS Amlin placed its aviation book into immediate run-off after airline clients elected to find alternative capacity at the start of the critical fourth quarter renewal period, The Insurer can reveal.Tue 15 Oct 2019
NewsCommercial insuranceCRC opens Charlotte office with Burns & Wilcox hireUS wholesale broker CRC Group has opened a new office in Charlotte, North Carolina, with the hire of Greg Watson as office president.Tue 15 Oct 2019
NewsResultsBP Marsh shares climb 8% on back of insurance investment growthShares in financial services investment firm BP Marsh & Partners were trading up over 8 percent on Tuesday after the firm reported a profit after tax of £5.6mn ($7.0mn) and a 4 percent increase in the equity value of its portfolio for the six months ended 31 July 2019.Tue 15 Oct 2019
NewsPeople MovesNTT Data adds Beale to advisory boardFormer Lloyd’s of London CEO, Inga Beale, has joined Japanese IT infrastructure provider, NTT Data, as a member of the firm’s recently launched advisory board.Tue 15 Oct 2019
NewsPeople MovesAlliant names Godsey Southwest region VPUS specialty broking powerhouse Alliant has appointed Geoff Godsey to the role of vice president, based in Dallas, Texas.Tue 15 Oct 2019
NewsAviationMMC’s Humphreys and Robinson land at RKH SpecialtyRKH Specialty has appointed Jason Humphreys and Alex Robinson to its London-based aviation unit.Tue 15 Oct 2019
NewsEnergyAxa XL replaces UK energy head Prato with WeltonAxa XL has named Peter Welton its new UK head of energy, replacing Luis Prato, who was promoted to chief underwriting officer for UK legal entities in September.Tue 15 Oct 2019
NewsPeople MovesArgoGlobal expands Dubai finpro with Praveen hireArgoGlobal, Argo Group’s syndicate at Lloyd’s, has hired Noel Praveen as a senior casualty and professional lines underwriter, based in Dubai.Tue 15 Oct 2019
NewsPeople MovesPrice Forbes launches US healthcare practice with JLT hiresArdonagh-owned Price Forbes has launched a US healthcare practice headed up by Paul Voller, former chair of JLT-owned Healthcare Risk Partners, and David Fairbank.Tue 15 Oct 2019
NewsCasualtyCNA unit sues Diocese of Buffalo in latest child abuse disputeA subsidiary of CNA has filed a lawsuit to avoid providing cover to The Diocese of Buffalo, which is facing more than 165 lawsuits filed under New York’s Child Victims Act (CVA).Mon 14 Oct 2019
NewsProfessional liabilitySwiss Re CorSo sells healthcare professional liability renewal rights to BerkshireBerkshire Hathaway subsidiary MedPro Group has agreed a deal to acquire the renewal rights for Swiss Re Corporate Solutions’ healthcare professional liability business as the carrier retrenches from the segment in the US.Mon 14 Oct 2019
NewsLegal/ RegulatoryArgo under fire as Voce renews call for board member cull in wake of SEC subpoenaActivist investor Voce Capital Management has renewed its call for the “retirement” of five directors on the board of the Mark Watson-led Argo Group following the Bermudian (re)insurer receiving a US Securities and Exchange Commission (SEC) subpoena related to “certain compensation-related perquisites” last week.Mon 14 Oct 2019
AnalysisCasualtyClimate of fear could drive casualty hardening into 2021 and beyondBeneath the overall upbeat mood at the CIAB’s Insurance Leadership Forum last week there was a genuine undercurrent of concern in the underwriting community about segments of the US casualty market where they are struggling to get to grips with accelerating loss cost trends.Mon 14 Oct 2019
NewsHagibis: Swiss Re, Lloyd’s carriers lead (re)insurance stock fallsSwiss Re – the largest Japanese reinsurer by market share – and the three-remaining listed Lloyd’s carriers have fallen between 2-4 percent today following the devastation wreaked by Typhoon Hagibis in Japan over the weekend.Mon 14 Oct 2019