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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

Everest adds former Charles Taylor exec to lead fine art and specie

News

People Moves

Everest adds former Charles Taylor exec to lead fine art and specie

Everest Insurance has appointed Joshila Tailor as global head of fine art and specie for its international platform.

Tue 16 Jul 2019

News

Darag reinsures historic Protector home sale liabilities

The German arm of legacy acquirer Darag has completed a retrospective quota share reinsurance agreement with listed Norwegian insurer Protector Forsikring (Protector).

Tue 16 Jul 2019

Apollo hires former Fidelis specialty chairman Burkinshaw as CUO

News

People Moves

Apollo hires former Fidelis specialty chairman Burkinshaw as CUO

Lloyd’s managing agency Apollo Syndicate Management has appointed Nick Burkinshaw to the newly created position of chief underwriting officer.

Tue 16 Jul 2019

News

Losses

Munich Re on $416mn Vega space loss

Munich Re has confirmed that it is one of the insurers on the programme for the failed Vega rocket.

Tue 16 Jul 2019

WTW names Dunlap North American construction head

News

People Moves

WTW names Dunlap North American construction head

Willis Towers Watson (WTW) has promoted Jim Dunlap to head of construction broking in North America, after more than seven years with the broking house.

Tue 16 Jul 2019

Markel confirms Fredricks settlement and Belisle binding arbitration agreed

News

Legal dispute

Markel confirms Fredricks settlement and Belisle binding arbitration agreed

Markel has confirmed it has agreed to a binding arbitration with former CatCo CEO Anthony Belisle and a mutually agreeable settlement with the ILS manager’s erstwhile Bermuda chief Alissa Fredricks.

Tue 16 Jul 2019

Fired CatCo CEO’s $65.8mn lawsuit against Markel settled

News

Legal dispute

Fired CatCo CEO’s $65.8mn lawsuit against Markel settled

The lawsuit filed by the fired CEO of Markel CatCo Anthony Belisle seeking $65.8mn of incentive payments from his former employer has been settled, while erstwhile CatCo Bermuda CEO Alissa Fredricks has voluntarily dismissed her case seeking $7.4mn.

Mon 15 Jul 2019

Catalina facing UK Section 166 regulatory probe

News

Legacy

Catalina facing UK Section 166 regulatory probe

Bermuda-headquartered legacy firm Catalina is understood to be subject to a Section 166 review by the Financial Conduct Authority (FCA), The Insurer can reveal.

Mon 15 Jul 2019

News

Hudson Structured leads RiskGenius investment round

Policy language insurtech RiskGenius has expanded client partnerships with Everest Insurance, FM Global and Liberty Mutual and secured a Series B financing led by Hudson Structured Capital Management.

Mon 15 Jul 2019

News

Convex looks to Cytora for AI-enhanced underwriting

Convex has entered a partnership with insurtech Cytora, as the Paul Brand and Stephen Catlin-led startup looks to incorporate artificial intelligence into its underwriting model.

Mon 15 Jul 2019

News

Small broking houses have to change: Gallagher CEO

In the wake of major consolidation in the broking market, the “survival days” for small, non-specialist insurance brokers are limited, according to Patrick Gallagher, group chief executive of broker Gallagher.

Mon 15 Jul 2019

Market psychology points to sustained pricing shift

Comment

Commercial insurance

Market psychology points to sustained pricing shift

It will not come as any surprise if a strong theme of the upcoming Q2 earnings season is bullish commentary from insurers on US commercial insurance pricing.

Mon 15 Jul 2019

RKH takes JLT’s MENA specialty head Mockett

News

People Moves

RKH takes JLT’s MENA specialty head Mockett

Hyperion-owned RKH Specialty has hired Dubai-based Richard Mockett, The Insurer can reveal.

Mon 15 Jul 2019

BP Marsh takes A$1.47mn stake in Australian agriculture MGA

News

M&A

BP Marsh takes A$1.47mn stake in Australian agriculture MGA

BP Marsh has become a minority shareholder in Sydney-based Agri Services Company, with a 36 percent stake equivalent to A$1.47mn ($1.03mn).

Mon 15 Jul 2019

Industry bodies disappointed with Ogden rate change

News

Legal/ Regulatory

Industry bodies disappointed with Ogden rate change

A number of industry bodies have made public their disappointment and surprise in the Ministry of Justice’s decision to alter the UK’s personal injury Discount Rate from -0.75 percent to -0.25 percent.

Mon 15 Jul 2019