Search | The Insurer TV

Pool Re completes £40mn non-damage BI retro placement

News

War and terrorism

Pool Re completes £40mn non-damage BI retro placement

UK government-backed terrorism reinsurer Pool Re has secured a £40mn ($50mn) limit from the private market to cover non-damage business interruption (NDBI) losses, on the back of the milestone Counter-Terrorism and Border Security Bill 2018 legislation signed earlier this year.

Mon 8 Jul 2019

News

Cyber

Brit builds out US cyber practice with AIG and NAS hires

Fairfax Financial-owned carrier Brit Global Specialty USA (BGSU) has continued to build out its cyber and technology practice with the appointment of James Patterson and Ryan Mimmo, with both taking on the role of vice president of cyber and technology.

Mon 8 Jul 2019

News

Other IRB backers could join Brazil government and BB Seguros in selling shares

Brazilian banks Itaú and Bradesco are considering using the public offering of IRB Brasil Resseguros by the country’s Treasury and Banco do Brasil unit BB Seguros as an opportunity to also sell their shares in the reinsurer, according to reports.

Fri 5 Jul 2019

US commercial and personal lines increases accelerate in Q2: MarketScout

News

Commercial insurance

US commercial and personal lines increases accelerate in Q2: MarketScout

Rate increases in both the commercial and personal lines P&C sectors picked up in the second quarter according to the latest survey by broker and MGA MarketScout.

Fri 5 Jul 2019

News

Lloyd’s still open to niche MGA business: MMC’s Carter

Guy Carpenter’s Vicky Carter has sought to dispel rising concerns that Lloyd’s no longer has an appetite to take on the unusual, specialist risks in the market.

Fri 5 Jul 2019

JLT seeks £10mn recoveries from Hyperion as legal proceedings roll on

Analysis

Legal dispute

JLT seeks £10mn recoveries from Hyperion as legal proceedings roll on

Following our revelation that MMC-owned JLT had begun legal proceedings in the UK against the London-headquartered intermediary Hyperion in the wake of a flurry of high-profile resignations, The Insurer examines JLT’s claim for £10mn in recoveries.

Fri 5 Jul 2019

News

Earthquake

CEA on the hook for up to 2,000 policies for 4 July earthquake

The California Earthquake Authority (CEA) could pay out on up to 2,000 policies for losses stemming from the 6.4 magnitude earthquake and swathe of aftershocks that shook southern regions of the State yesterday (4 July).

Fri 5 Jul 2019

Convex names former XL Catlin manager Middleton ceded reinsurance head

News

People Moves

Convex names former XL Catlin manager Middleton ceded reinsurance head

Stephen Catlin and Paul Brand have appointed former XL Catlin colleague Anne Middleton to lead the ceded reinsurance team at their Bermuda-headquartered startup, Convex.

Fri 5 Jul 2019

Markel names Coface’s Paul senior underwriter in Dubai

News

People Moves

Markel names Coface’s Paul senior underwriter in Dubai

Markel International has hired Keith Paul to take up the role of senior trade credit and political risk underwriter in Dubai.

Fri 5 Jul 2019

ARAG and HDI launch legal expenses MGA in Australia

News

People Moves

ARAG and HDI launch legal expenses MGA in Australia

German Arag Group has opened an MGA in Sydney, Australia to underwrite legal expense products under delegated authority from HDI Global Specialty SE.

Fri 5 Jul 2019

Korean Re’s Swiss subsidiary bolstered by A rating from S&P

News

Rating actions

Korean Re’s Swiss subsidiary bolstered by A rating from S&P

Korean Re Switzerland, the Zurich headquartered operations of Korean Re, has received a local currency long-term issuer credit and financial strength ratings of ‘A’ from S&P Global Ratings.

Fri 5 Jul 2019

Anbang asset disposal underway with Hexie sale

News

M&A

Anbang asset disposal underway with Hexie sale

China’s Anbang Insurance Group said its property and casualty arm will sell its entire stake in a health insurance unit as the troubled government-controlled insurer seeks to off-load assets.

Fri 5 Jul 2019

News

Lloyd’s launches contract review tool

Lloyd’s has rolled out a new tool that it has said will ‘improve the quality’ of contract review by scanning documents for errors and discrepancies.

Thu 4 Jul 2019

News

Cyber

Lloyd’s gets tough on silent cyber

Lloyd’s has issued a new mandate in a bid to eradicate non-affirmative or “silent” cyber risks from policies incepting on or after 1 January 2020.

Thu 4 Jul 2019

Analysis

Asia-Pacific to drive non-life growth despite Chinese slow-down

Analysis from the latest sigma study from the Swiss Re Institute, World Insurance: the great pivot east continues, suggests that for the next two years the main driver of growth in non-life premium income will be from Asian-Pacific economies, though the tremendous recent growth witnessed in the Chinese market is set for a marked deceleration.

Thu 4 Jul 2019

Legal notice - Insolvency

THE MEDITERRANEAN INSURANCE & REINSURANCE COMPANY LIMITED (“THE COMPANY” or “MEDRE”) – IN ADMINISTRATION NOTICE OF AN ORDER PRESCRIBING A BAR DATE FOR CLAIMS AT 5PM (LONDON TIME) 30 SEPTEMBER 2019 AND TO CREATE A MECHANISM FOR THE VALUATION OF INCURRED BUT NOT REPORTED CLAIMS

Thu 4 Jul 2019