Brit names BCG’s Cuomo to head of strategy role

London (re)insurer Brit has named Paolo Cuomo to the newly created role of head of strategy.

Mon 1 Jul 2019

R&Q acquires Class 3A Bermuda reinsurer Sandell Re

The sale process for Sandell Re has ended with legacy acquisition firm Randall & Quilter (R&Q) acquiring the Bermudian reinsurer at a discount to its $40.8mn of net assets.

Mon 1 Jul 2019

Nephila reports growing interest in weather risk transfer

Infrastructure managers are increasingly looking to use weather risk transfer (WRT) for extreme events while other corporations are also considering it to mitigate climate change, Nephila Climate chairman Barney Schauble told The Insurer.

Fri 28 Jun 2019

Property exec Bernal rejoins RT Specialty from Hiscox

Wholesale broking giant RT Specialty has hired back Matt Bernal as a vice president in its property practice based in San Francisco.

Fri 28 Jun 2019

Regulators review Applied Underwriters transaction

Regulators are reviewing the potential sale of Berkshire Hathaway’s majority investment in Applied Underwriters but, contrary to reports today, the proposed transaction does not involve a full acquisition of the stake in the workers compensation specialist by United Insurance Company (UIC), The Insurer understands.

Fri 28 Jun 2019

Integrand reinsurance dispute put on hold to allow regulatory review

Puerto Rico insurer Integrand has been granted a stay of its dispute with its reinsurers over Hurricane Maria claims until 29 August to allow time for a review of its financial state as part of a rehabilitation process.

Fri 28 Jun 2019

LatAm renewals underscore hardening market

Recent Latin American and Caribbean renewals in the property fac space have seen prices continue to rise, with expectations that the recalibration can be sustained into next year, The Insurer understands.

Fri 28 Jun 2019

Boeing insurers to put up $500mn reserve for grounding loss

Carriers on the product liability slip for Boeing face a looming $500mn payout in response to claims stemming from the grounding of its 737 Max 8 aircrafts, The Insurer can reveal.

Fri 28 Jun 2019

China launches Dajia Insurance to take over Anbang

The Chinese government has formed a new insurer called Dajia Insurance Group to takeover the assets and operations of troubled, state-owned Anbang Insurance Group.

Fri 28 Jun 2019

RFIB says 2018 normalised EBITDA climbs to £9.3mn

London market wholesaler RFIB said its normalised ebitda in 2018 climbed 50.1 percent from £6.2mn to £9.3mn while turnover nudged up slightly to £48mn.

Fri 28 Jun 2019

Aon’s Martin leaves for McGill & Partners

Aon’s UK financial services group leader Julian Martin is the latest senior London broking executive to join Steve McGill’s expansive start-up, McGill & Partners, The Insurer can reveal.

Fri 28 Jun 2019

Dinos Iordanou on Cyprus, Hard Work and Culture

Fri 28 Jun 2019

Abu Dhabi Re hires Talbot MENA CEO Matthew Warren

Andrew Sturdy, the founder of recently sold London Market broker SSL, has hired the former Talbot MENA CEO Matthew Warren to lead his soon-to-be-launched Middle East MGA Abu Dhabi Re Ltd, The Insurer can reveal.

Fri 28 Jun 2019

ReAssure aims for £3.3bn IPO

Swiss Re has set a price range of £2.80 to £3.30 for shares in the flotation of its UK life insurance business ReAssure, a move that implies a market capitalisation for the closed book consolidator of £2.8bn ($3.6bn) to £3.3bn ($4.5bn).

Fri 28 Jun 2019

The Hanover in $150mn accelerated share repurchase deal

US insurer The Hanover Group has entered into a $150mn accelerated share repurchase (ASR) agreement with Scotiabank following the completion of a previous $250mn ASR announced at the end of 2018.

Fri 28 Jun 2019

EY names Santenac global Insurance leader

Global advisory firm EY has named Isabelle Santenac as global insurance leader.

Fri 28 Jun 2019