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Active shooter insurance demand surges since 2016

News

Liability

Active shooter insurance demand surges since 2016

Demand for specific insurance against mass shootings in the US has been strong in the past three years, with the coverage provided by the few carriers that offer this niche protection differing widely, AM Best has revealed.

Wed 17 Jul 2019

Analysts mixed on positive US pricing thesis as Q2 earnings begin

Analysis

Commercial insurance

Analysts mixed on positive US pricing thesis as Q2 earnings begin

Although the second quarter P&C earnings season that got underway in the US today will include the impact of weather losses and positive marks on investment portfolios, the focus of investors is likely to be on pricing momentum.

Wed 17 Jul 2019

Comment

Emulate not end the Pool Re golden egg…

Next week the UK will have a new Prime Minister. Whether it is current favourite Boris Johnson or his challenger Jeremy Hunt, the new First Lord of the Treasury will arrive at Ten Downing Street to inherit the failed Brexit process, a divided country and a minority in Parliament. If he pops next door to number eleven, his neighbour’s final words (before eviction) will be to remind him the nation’s coffers are still empty.

Wed 17 Jul 2019

Acrisure fundraising to keep consolidator on course for record 2019

News

M&A

Acrisure fundraising to keep consolidator on course for record 2019

Acrisure’s proposed $300mn debt offering will help fuel a highly active M&A strategy that has already put the US broker consolidator ahead of the pace it set in 2018 both in terms of transaction volume and revenue, The Insurer understands.

Wed 17 Jul 2019

AGCS names Zurich’s Smithson South America CEO

News

People Moves

AGCS names Zurich’s Smithson South America CEO

Under pressure Allianz Global Corporate & Specialty (AGCS) has hired Glaucia Smithson as CEO of South America, succeeding Angelo Colombo, who leaves AGCS after more than 11 years with the specialty carrier.

Wed 17 Jul 2019

Allied World’s Carmilani to take Fairfax role, Iglesias named successor

News

People Moves

Allied World’s Carmilani to take Fairfax role, Iglesias named successor

Allied World’s long-standing CEO Scott Carmilani has stepped down from the company to take on a new role at the (re)insurer’s Canadian parent, Fairfax Financial, the Swiss-headquartered firm confirmed today.

Wed 17 Jul 2019

Saga shares leap 13 percent as activist Elliott discloses stake

News

M&A

Saga shares leap 13 percent as activist Elliott discloses stake

Shares in struggling UK insurance firm Saga climbed 13 percent on Wednesday following news that aggressive hedge fund Elliott has built a 5.14 percent stake in the over-50s specialist.

Wed 17 Jul 2019

Aon hires Walker to lead IP product development

News

People Moves

Aon hires Walker to lead IP product development

Aon has appointed Joshua Walker chief product officer for its Intellectual Property (IP) Solutions business.

Wed 17 Jul 2019

News

People Moves

Carolin takes top job at B3i

Industry blockchain initiative B3i has named John Carolin CEO in succession to Paul Meeusen, who stepped back from the role to become an advisor to the board in March this year.

Wed 17 Jul 2019

News

Lloyd’s pays 20% premium for non-execs

Lloyd’s businesses pay nearly 20 percent more than their company market, or MGA counterparts, to their non-executive directors, according to the results of research released today by London-based insurance head-hunter Damhurst.

Wed 17 Jul 2019

Plymouth Rock to acquire motorcycle specialist Rider Insurance

News

M&A

Plymouth Rock to acquire motorcycle specialist Rider Insurance

Boston-based Plymouth Rock Assurance has agreed to acquire New Jersey’s motorcycle specialist Rider Insurance Company, subject to regulatory approvals.

Wed 17 Jul 2019

Axis hires Asta’s Godfrey for exposure management head

News

People Moves

Axis hires Asta’s Godfrey for exposure management head

Axis Capital has appointed Alan Godfrey as head of group casualty and cyber exposure management, as the specialty insurer looks to develop a new exposure management function for non-natural catastrophe risks, The Insurer can reveal.

Wed 17 Jul 2019

News

Low interest rates greatest credit risk for European insurers: Moody’s

As bond yields decline to record lows and the prospect of near-term interest rate rises recedes, low rates that show no sign of rising are once again the key credit risk for European insurers in 2019/20, according to Moody’s.

Tue 16 Jul 2019

Barry insured loss pegged at close to $300mn

News

Losses

Barry insured loss pegged at close to $300mn

Karen Clark & Company (KCC) has estimated that the insured loss from Hurricane Barry will be close to $300mn, with damage occurring in Louisiana and Mississippi.

Tue 16 Jul 2019

ProSight begins IPO with pricing expected at $16-18 a share

News

Capital

ProSight begins IPO with pricing expected at $16-18 a share

Investors including Goldman Sachs and TPH Capital Management will sell up to 6.62mn of shares in ProSight Global as part of an IPO that could be valued as high as $183mn, before underwriting discount and expenses.

Tue 16 Jul 2019

Analysis

Hiscox now valued at record 3x NTA as investors remain loyal despite 2019 earnings hit

Analysts have remained upbeat about prospects for London market veteran Hiscox, despite the carrier posting an ominous trading update last week, noting that shares are currently trading at a record multiple.

Tue 16 Jul 2019