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PI ruling reveals 50 Lockton customers moved their business to Alliant

News

Legal dispute

PI ruling reveals 50 Lockton customers moved their business to Alliant

In a 56-page opinion granting Lockton a preliminary injunction against Alliant in the ongoing dispute over mass defections earlier this year, Delaware vice chancellor Travis Laster wrote the former employees’ solicitation efforts “have had a massive effect on Lockton”.

Thu 20 Jun 2019

Atlas Financial receives delinquency notification from Nasdaq

News

Commercial auto

Atlas Financial receives delinquency notification from Nasdaq

Embattled US auto insurer Atlas Financial Holdings has received a delinquency notification letter from Nasdaq because its share price has closed below $1 for 30 consecutive days.

Thu 20 Jun 2019

Mosher to replace Mayewski as AM Best Ratings Services CEO

News

People Moves

Mosher to replace Mayewski as AM Best Ratings Services CEO

Larry Mayewski is to retire as chairman, president and CEO of AM Best Rating Services and will be succeeded by Matthew Mosher, who is currently executive vice president and chief operating officer.

Thu 20 Jun 2019

News

Allstate reveals $473mn May cat losses

The Allstate Corporation has estimated $473mn of pre-tax catastrophe losses for May 2019, bringing its second quarter cat losses so far to $763mn.

Thu 20 Jun 2019

News

Hudson Structured, Third Point Re, White Mountains invest in auto insurtech Noblr

Hudson Structured Capital Management has led an investment in next generation car insurance company Noblr, in collaboration with White Mountains Capital and Third Point Reinsurance.

Thu 20 Jun 2019

Hamilton Re secures $60mn cover with Easton cat bond

News

Property catastrophe

Hamilton Re secures $60mn cover with Easton cat bond

Hamilton Re has sponsored its debut cat bond with $60mn Easton 2019-1 issued by its Cerulean Re vehicle.

Thu 20 Jun 2019

News

Tokio Marine Kiln will lose £165mn premium income as a result of UK run-off

The decision by Tokio Marine Kiln (TMK) to place its UK insurance company, Tokio Marine Kiln Insurance, (TMKI) into run-off will take away a potential annual premium pot of £165mn, The Insurer understands.

Thu 20 Jun 2019

News

Lloyd’s reveals advisory committees to execute turnaround

Lloyd’s has revealed the make-up of its global and London advisory committees as the corporation prepares to execute CEO John Neal’s sweeping turnaround strategy for the market.

Thu 20 Jun 2019

News

Lloyd’s CEO to drum up US business with AIG and Chubb: reports

Lloyd’s of London chief executive, John Neal, is set to meet top bosses at AIG and Chubb during a visit to New York this week to discuss selling more products via the Lloyd’s platform.

Thu 20 Jun 2019

News

Tokio Marine puts UK business into run-off

Japanese insurance giant Tokio Marine has placed its UK insurance company, Tokio Marine Kiln Insurance (TMKI) into run-off.

Thu 20 Jun 2019

CFO and deputy CEO Harlin to retire from Axa

News

People Moves

CFO and deputy CEO Harlin to retire from Axa

Gérald Harlin, Axa’s group deputy CEO and chief financial officer, is to retire at the end of the year after 29 years at the insurer.

Thu 20 Jun 2019

News

Scor confirms Kessler remuneration as activist battle continues

French reinsurer Scor has taken the unusual step of verifying the results of its 2019 AGM vote to approve the pay of its CEO and chairman Denus Kessler as part of its ongoing battle with activist group CIAM.

Thu 20 Jun 2019

News

Losses

Perils increases Sydney loss estimate to $529mn

Loss aggregation firm Perils has increased its property loss estimate for the December 2018 Sydney hailstorms to AUS$766mn ($529mn).

Thu 20 Jun 2019

News

Lloyd’s: 17 syndicates now approved for mid-year growth

Lloyd’s has approved half of the 34 syndicates that have requested mid-year capacity increases for profitable growth, according to chairman Bruce Carnegie-Brown.

Wed 19 Jun 2019

Marsh promotes Hanuschak to Victor North America president

News

People Moves

Marsh promotes Hanuschak to Victor North America president

Brian Hanuschak has been appointed president of North America for Victor Insurance, with he and international president Anthony Stevens now running Marsh’s MGU business following the departure of CEO Christopher Schaper.

Wed 19 Jun 2019

AIG hires Chris Schaper to head new reinsurance platform

News

Casualty Reinsurance

AIG hires Chris Schaper to head new reinsurance platform

AIG has formed a new reinsurance platform that consolidates its assumed reinsurance operations, including Validus Re, AlphaCat and Talbot Treaty into one global business headed by former Montpelier and Victor executive Chris Schaper.

Wed 19 Jun 2019