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Case unveils next stage in ‘Aon United’ strategy

Aon has today unveiled a major development in its ‘Aon United’ strategy which already sees the industry leader operate under a single brand and P&L as part of its drive to ensure that it offers clients the full breadth of potential products and services.

Thu 10 Oct 2019

Marsh JLT Specialty continues expansion with UK real estate duo

News

People Moves

Marsh JLT Specialty continues expansion with UK real estate duo

MMC’s Marsh JLT Specialty has appointed Bryce Check as a business relationship director and Anna Whitfield as a client service director in its UK real estate practice.

Thu 10 Oct 2019

EEA insurers must rethink terrorist victim compensation: IFTRIP

News

Legal/ Regulatory

EEA insurers must rethink terrorist victim compensation: IFTRIP

European insurers and their home governments must consider implementing their own legal frameworks to ensure victims of modern terrorism are adequately compensated, the director general of trade body Insurance Europe has said.

Thu 10 Oct 2019

News

London company market GWP swells to £28.4bn in 2018: IUA

Gross written premiums generated by the London company market – outside of Lloyd’s – reached £28.44bn ($34.78bn) in 2018, swelling by 16 percent year-on-year, the latest report from the International Underwriting Association (IUA) has revealed.

Thu 10 Oct 2019

Brock and Weist named co-CFOS at Tokio Marine HCC

News

People Moves

Brock and Weist named co-CFOS at Tokio Marine HCC

Sharon Brock and Tom Weist have been appointed co-chief financial officers at Tokio Marine HCC.

Thu 10 Oct 2019

News

Carnegie-Brown to be chair of insurtech Cuvva

Lloyd’s chairman Bruce Carnegie-Brown has agreed to become chair of motor and travel insurance intermediary Cuvva.

Thu 10 Oct 2019

XL moves to bring Old Republic into opioid dispute with supermarket

News

Legal dispute

XL moves to bring Old Republic into opioid dispute with supermarket

XL has filed a third-party complaint against Old Republic in a bid to make it cover costs related to supermarket chain Giant Eagle’s litigation with XL and Zurich over opioid exposures.

Wed 9 Oct 2019

Terrorism pools highlight benefits of industry working with governments

Comment

War and terrorism

Terrorism pools highlight benefits of industry working with governments

As the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) holds its annual conference in Brussels this week, The Insurer looks to the role that public sector partnerships can play in transferring risk for the world’s most costly threats.

Wed 9 Oct 2019

News

Argo shares dip following SEC subpoena

Shares in the Mark Watson-led Argo Group fell over two percent in early trading today, following the after-markets closed announcement yesterday that the Bermudian (re)insurer has received a US Securities and Exchange Commission (SEC) subpoena related to “certain compensation-related perquisites”.

Wed 9 Oct 2019

Lockton Re restructures UK operations as JLT Re teams join

News

People Moves

Lockton Re restructures UK operations as JLT Re teams join

Lockton’s London-based reinsurance arm Lockton Re UK is embarking on a major operational restructure which will see former JLT Re senior management assume control of the 70-strong division as part of a major refocus on reinsurance for the privately-owned US broking group, The Insurer can reveal.

Wed 9 Oct 2019

News

James River shares plummet 22% after Uber policies cancelled

The share price of James River was down greatly in early morning trading after the US specialty insurer announced it had cancelled the contracts of its largest customer, Uber, and would take a reserve charge.

Wed 9 Oct 2019

News

Reinsurers brace for second 2019 Japan cat event as super typhoon Hagibis is Tokyo-bound

As (re)insurers look set to detail the extent of September’s Typhoon Faxai losses in the forthcoming third quarter results season, the market is bracing itself for a second major Asian reinsurance loss in as many months as “super” typhoon Hagibis heads towards Tokyo.

Wed 9 Oct 2019

777 Partners sues Atlas General as program partnership sours

News

Legal dispute

777 Partners sues Atlas General as program partnership sours

777 Partners is in litigation against MGA and program administrator Atlas General and its CEO following the breakdown of a plan that would have seen the private equity firm acquire Atlas at a valuation of $85mn, The Insurer can reveal.

Wed 9 Oct 2019

AIG names Panagakis CEO in asset management division

News

People Moves

AIG names Panagakis CEO in asset management division

American International Group (AIG) has appointed John Panagakis as CEO of First Principles Capital Management (FPCM), the unit of AIG Investments that serves institutional clients in the global fixed income securities and derivatives markets.

Wed 9 Oct 2019