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Which sectors will suffer the most digital disruption and why?

The Transportation Layer is ripe for digital disruption argues Russell Group in a new white paper: Which sectors will suffer the most digital disruption and why?

Wed 9 Oct 2019

News

Uber exit to have “short-lived” negative effect on James River 2020 profitability: JMP

James Rivers’ decision to cancel contracts with its largest customer Uber is set to cause a reduction in 2020 earnings per share, but the dip will be temporary as the carrier turns its focus to core and “much more profitable” E&S business, according to a JMP Securities analyst.

Wed 9 Oct 2019

Argo subpoenaed over perquisite disclosure

News

Legal/ Regulatory

Argo subpoenaed over perquisite disclosure

Argo Group International Holdings has revealed it received a US Securities and Exchange Commission subpoena related to “certain compensation-related perquisites”.

Tue 8 Oct 2019

News

James River cancels largest customer Uber over losses

Specialty insurer James River Group Holdings has given notice of early cancellation of all insurance policies issued to its largest customer Rasier LLC and its affiliates – part of Uber Technologies – after the account underperformed on profitability.

Tue 8 Oct 2019

Canada’s BCI and PE firm PCP complete BMS investment

News

M&A

Canada’s BCI and PE firm PCP complete BMS investment

BMS has secured long-term investment from British Columbia Investment Management Corporation (BCI) and middle market private equity firm Preservation Capital Partners as the deal completed today.

Tue 8 Oct 2019

Mina replaces founder Christian as Risk Strategies CEO

News

People Moves

Mina replaces founder Christian as Risk Strategies CEO

Privately-held US broker Risk Strategies has named its president John Mina as CEO, succeeding founder and long-time leader Michael Christian.

Tue 8 Oct 2019

Hive Aero continues aviation build out with Shurville hire

News

People Moves

Hive Aero continues aviation build out with Shurville hire

Aviation war risks MGA Hive Aero has added Mark Shurville to its ranks after more than 28 years in the aviation insurance market.

Tue 8 Oct 2019

News

Legal dispute

Lloyd’s fights back in high profile investor dispute; claims liability exemption

The Society of Lloyd’s has denied allegations that it misled a prominent Lime Street investor into believing he could temporarily switch his unlimited liability status, in a dispute which could test the exemptions of liability enjoyed by the market’s ruling body.

Tue 8 Oct 2019

News

Aviation

Marsh JLT Specialty onboards senior aviation quartet

Marsh JLT Specialty has bolstered its aviation division with the appointment of Tony Ambrose and Martyn Holland as managing directors in London and Julie Meyer and Stephen Murray as vice president and senior vice president respectively, based in New York.

Tue 8 Oct 2019

News

Cyber

Ascent builds cyber team with Beazley and Equinox hires

Specialty MGA Ascent has appointed Kieran Shiret and Henry Rydon as cyber underwriters, to focus on the North American market.

Tue 8 Oct 2019

News

M&A

R&Q completes takeover of Sandell Re

Legacy specialist R&Q has completed the acquisition of Class 3A Bermuda reinsurer Sandell Re.

Tue 8 Oct 2019

News

Dorian and Faxai drive $65mn-$75mn Q3 Arch cat losses

KBW analysts lowered Q3 earnings forecasts for Arch Capital after the Bermudian preannounced cat loss estimates of $65mn to $75mn for the period that were higher than they expected.

Tue 8 Oct 2019

Casualty carriers drafting exclusions “at a rapid pace”

News

Rates

Casualty carriers drafting exclusions “at a rapid pace”

An update from Lockton reveals that US umbrella/excess firming could last another two years, while casualty carriers are also drafting exclusions across a wide range of exposures.

Tue 8 Oct 2019

EPIC closes in on Prime Risk Partners acquisition

News

M&A

EPIC closes in on Prime Risk Partners acquisition

Oak Hill Capital Partners-backed EPIC Holdings has emerged as the frontrunner to buy Prime Risk Partners (PRP), The Insurer can reveal.

Mon 7 Oct 2019

Chris Harris joins HSCM Bermuda board of advisors

News

People Moves

Chris Harris joins HSCM Bermuda board of advisors

Former Montpelier Re CEO Chris Harris has joined alternative investment asset manager Hudson Structured Capital Management (HSCM) as an advisor focused on HSCM Bermuda’s (re)insurance strategy, The Insurer can reveal.

Mon 7 Oct 2019

News

Energy

OCIL’s Kirk departs

Long serving energy underwriter Graham Kirk has left Bermudian carrier Oil Casualty Insurance Limited (OCIL) after the best part of two decades with the carrier, The Insurer can reveal.

Mon 7 Oct 2019