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Lawyers pocket 61% of costs in merger-objection lawsuits: Chubb

News

D&O

Lawyers pocket 61% of costs in merger-objection lawsuits: Chubb

Chubb has rounded on the growing “cohort of lawyers” who benefit from the surge in securities class action lawsuits by reaping a disproportionate share of settlement dollars, as it called for meaningful reform to fix a “broken system”.

Tue 11 Jun 2019

News

Cyber

US cyber claim frequency increase outweighing severity drop: Aon

A jump in US cyber claims frequency is more than offsetting a reduction in severity while slowing premium growth raises questions about whether the market will fulfill its potential, an Aon report has revealed.

Tue 11 Jun 2019

News

For sale Lloyd’s (re)insurer Vibe predicts fourfold top line growth

Despite recent actions by Lloyd’s to shrink the size of syndicates on its platform after recent losses, the up-for-sale Lime Street (re)insurer Vibe is telling prospective buyers that it anticipates growing its top line by four times over the next six years.

Tue 11 Jun 2019

News

Aviation

Former JLT US aviation executives decline Gallagher move

Three former senior aviation executives at JLT are understood to have declined an offer to join rival broking house Gallagher following the £190mn transfer of JLT’s aerospace business to the Illinois-headquartered firm, The Insurer understands.

Tue 11 Jun 2019

News

Aon arranges London panel to insure banks against cryptocurrency crime

Aon has arranged a panel of London insurers to underwrite a cybercrime insurance product for financial institutions that use Swiss fintech Metaco’s cryptocurrency technology.

Tue 11 Jun 2019

News

Cyber

Howden teams up with Cytegic on cyber risk quantification platform

Howden, the retail broking arm of Hyperion Group, has partnered with cyber risk quantification firm Cytegic in a move designed to automate cyber risk assessment and financial impact analysis across global markets.

Tue 11 Jun 2019

News

Lemonade launches in Germany as IPO rumours circulate in US

New York-based insurtech Lemonade has entered the European Market with the launch of its contents and liability insurance product in Germany, backed by a reinsurance arrangement with Axa.

Tue 11 Jun 2019

Barbican takes Vibe’s Archer to lead international casualty treaty

News

People Moves

Barbican takes Vibe’s Archer to lead international casualty treaty

Lloyd’s insurer Barbican has appointed Clive Archer as head of international casualty treaty reinsurance.

Tue 11 Jun 2019

News

Two TMK executives resign over groping and stalking claims

Two Tokio Marine Kiln executives have resigned following allegations of sexual harassment, according to reports.

Tue 11 Jun 2019

Lockton Re execs seek to have bulk of GC complaint dismissed

News

Legal dispute

Lockton Re execs seek to have bulk of GC complaint dismissed

Lockton Re executives Tim Gardner, Nick Durant and Claude Yoder have filed a motion in New York to have counts brought against them by their former employer Guy Carpenter alleging client solicitation and breach of fiduciary duties dismissed.

Mon 10 Jun 2019

News

Marine

Everest and All Risks expand workers comp offering for mariners

Everest Insurance has teamed up with All Risks to expand their workers compensation offering for the marine industry.

Mon 10 Jun 2019

Material increases in auto and property, excess/umbrella and D&O: CLIPS

News

Rates

Material increases in auto and property, excess/umbrella and D&O: CLIPS

Willis Towers Watson’s (WTW) latest Commercial Lines Insurance Pricing Survey (CLIPS) shows another quarter of moderate hardening with the aggregate commercial price change reported by carriers at just over 2 percent in Q1.

Mon 10 Jun 2019

Aon Securities hires former JLT capital markets duo

News

Legal dispute

Aon Securities hires former JLT capital markets duo

The former co-heads of JLT Capital Markets, Rick Miller and Michael Popkin have resurfaced at Aon Securities – Aon’s investment banking division.

Mon 10 Jun 2019

Atlas pivots towards MGA model with $110mn National Interstate deal

News

M&A

Atlas pivots towards MGA model with $110mn National Interstate deal

American Financial Group’s (AFG) transportation specialist carrier National Interstate has agreed a deal to put its paper behind the paratransit business of Atlas Financial Holdings, which also includes a five-year warrant to buy 19.9 percent of the embattled US insurer’s stock.

Mon 10 Jun 2019

Comment

MMC helps London point to the positives after a year of bleak messaging…

This week sees the return of Marsh and McLennan’s (MMC) biennial gathering of talented, rising professionals who come to London from different continents for two days to hear from world class speakers on critical topics challenging the industry culminating in a show stopping gala dinner with stadium-filling superstars (such as Kaiser Chiefs and Craig David) and a legion of industry CEOs.

Mon 10 Jun 2019

News

People Moves

BHSI launches hub in Paris

Berkshire Hathaway Specialty Insurance (BHSI) has opened an office in Paris, with a license to begin underwriting in France immediately.

Mon 10 Jun 2019