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Analysis

Un-modelled risk: Known unknowns?

The recent spate of natural catastrophe losses has once again put the focus on un-modelled risk, and what steps are being taken by the market to cover the gaps.

Thu 18 Jul 2019

Lockton Re trio argues Guy Carp’s claims not valid in new filing

News

Legal dispute

Lockton Re trio argues Guy Carp’s claims not valid in new filing

Three Lockton Re executives have made a new filing in their dispute with Guy Carpenter, saying their former employer’s claims of violations of their fiduciary duties and restrictive covenant agreements (RCAs) are “an illegitimate attempt to stifle fair competition”.

Thu 18 Jul 2019

Jefferies: hard market now extends to commercial lines

News

Commercial insurance

Jefferies: hard market now extends to commercial lines

US Commercial insurance prices have risen for six consecutive quarters, creating a “long-awaited” hard market, according to analysis from equity analysts Jefferies.

Thu 18 Jul 2019

News

People Moves

Artex makes COO and CFO appointments

Bermuda-based alternative risk management solutions provider Artex has promoted Stephen Thompsett to chief operating officer and Brandon Marshall to chief financial officer.

Thu 18 Jul 2019

News

Cyber

Lockton appoints Willis’s Dagostino as cyber practice leader

Anthony Dagostino has joined Lockton as executive vice president and global cyber and technology practice leader.

Thu 18 Jul 2019

Ed hires Price Forbes’ D’Arcy to head fac

News

People Moves

Ed hires Price Forbes’ D’Arcy to head fac

Wholesale and specialty broker Ed has appointed marine cargo specialist Jennifer D’Arcy to the new role of executive vice president and head of facultative reinsurance.

Thu 18 Jul 2019

BB&T Insurance organic growth surges to 11.6% in Q2

News

Results

BB&T Insurance organic growth surges to 11.6% in Q2

US retail and wholesale broker BB&T Insurance Holdings has reported organic growth for the second quarter that more than doubled from 5.2 percent to 11.6 percent to reach what it said was the highest level in its history.

Thu 18 Jul 2019

News

Losses

Allstate Q2 losses exceed $1bn but miss cat cover

US insurance giant Allstate has pegged its second quarter losses at $1.07bn pre-tax, with no single event expected to attach to its reinsurance program.

Thu 18 Jul 2019

News

Losses

Heritage pegs second quarter weather losses at $21.5mn

Florida-based homeowners specialist Heritage expects approximately $21.5mn of net weather-related losses in the second quarter, primarily from four wind and hail storms in the southeast.

Thu 18 Jul 2019

News

Allianz invests $20mn in big data firm Arabesque S-Ray

Allianz X, the $1bn technology investment arm of German giant Allianz, has injected $20mn into environmental, social, and governance (ESG) metrics provider, Arabesque S-Ray, in a bid to make more sustainable investment decisions.

Thu 18 Jul 2019

Schroders acquires full ownership of Swiss ILS specialist Secquaero

News

M&A

Schroders acquires full ownership of Swiss ILS specialist Secquaero

Schroders has reinforced its Private Assets business by increasing its stake in Zurich-based ILS investor Secquaero Advisors AG (Secquaero) from 50.1 percent to 100 percent.

Thu 18 Jul 2019

AFL take UIB duo for property and energy business

News

People Moves

AFL take UIB duo for property and energy business

Independent Lloyd’s broker AFL Insurance Brokers has named Mark Ritson and Peter Draper as directors of international property and energy.

Thu 18 Jul 2019

News

Tokio Marine HCC looks to Chubb and Euler Hermes for European surety hires

Tokio Marine HCC (TMHCC) has appointed Björn Eding as head of surety in the Netherlands, as the carrier looks to expand its international surety capabilities into Continental Europe.

Thu 18 Jul 2019

Darag buys One Re in first UK acquisition

News

M&A

Darag buys One Re in first UK acquisition

The German arm of legacy acquirer Darag has agreed to purchase London-based One Re from its parent company, 54 North Ltd, in its first acquisition in the UK.

Thu 18 Jul 2019

News

AssuredPartners sets sights on UK after Birmingham buy

US broker consolidator AssuredPartners is setting its sights on further UK expansion following the purchase of Birmingham-based broker Hettle Andrews & Associates.

Thu 18 Jul 2019

California commissioner Lara faces backlash over industry donations

News

Legal/ Regulatory

California commissioner Lara faces backlash over industry donations

California’s insurance commissioner Ricardo Lara has promised to return more than $54,000 that he received in industry campaign donations, the majority of which came from individuals with ties to Applied Underwriters.

Wed 17 Jul 2019