Search | The Insurer TV

News

People Moves

QBE names Hill alternative markets head

QBE North America has named Kris Hill as president, alternative markets, effective immediately.

Fri 7 Jun 2019

Nationwide names Walker as CEO succeeding Rasmussen

News

People Moves

Nationwide names Walker as CEO succeeding Rasmussen

Ohio-based insurance and financial services firm Nationwide has named Kirt Walker as chief executive officer-elect, succeeding CEO Steve Rasmussen who is set to retire in the autumn.

Fri 7 Jun 2019

News

Losses

Perils ups Dragi-Eberhard losses to Eur798mn

Loss aggregation firm Perils has pegged property damage losses from extratropical cyclone Dragi-Eberhard at Eur798mn ($899mn).

Fri 7 Jun 2019

News

Losses

Insurers face another $10bn+ US convective storm year as May losses mount

Last month included the most May US tornadoes since 2015 as well as Tropical Cyclone Fani causing Indian insurers $500mn of losses, Aon’s Impact Forecasting has revealed in its May recap report.

Fri 7 Jun 2019

AIG hires Accenture exec Cusano for GI role

News

People Moves

AIG hires Accenture exec Cusano for GI role

AIG has appointed John Cusano as chief business and technology operations officer in its General Insurance unit, effective 1 July.

Thu 6 Jun 2019

Hannover Re writes $1.1bn TWIA traditional reinsurance

News

Property catastrophe

Hannover Re writes $1.1bn TWIA traditional reinsurance

The Texas Windstorm Insurance Association (TWIA) has successfully placed its downsized $2.1bn 2019 catastrophe reinsurance programme with the layers on the structure switching from excess-of-loss to pro-rata, The Insurer can reveal.

Thu 6 Jun 2019

Broker M&A still highly accretive despite rising multiples: Acrisure CEO

News

M&A

Broker M&A still highly accretive despite rising multiples: Acrisure CEO

Acrisure is maintaining its run-rate as the most active acquirer of insurance brokers because deal economics are still “very accretive” from a valuation perspective, even at the higher multiples being paid today, according to its president and CEO Greg Williams.

Thu 6 Jun 2019

Duperreault lauds robust E&S sector in “tightening” market

News

Rates

Duperreault lauds robust E&S sector in “tightening” market

AIG CEO Brian Duperreault has praised the discipline of the excess and surplus lines (E&S) market as it has responded to business flowing back from admitted carriers by pushing up rate and driving improved terms and conditions.

Thu 6 Jun 2019

News

AIG general insurance exec team “well set”: Duperreault

AIG’s Peter Zaffino-led General Insurance executive team is now stable after a number of changes in recent days, group CEO Brian Duperreault has commented.

Thu 6 Jun 2019

HCI places reinsurance programme with $1.48bn total limit

News

Property catastrophe

HCI places reinsurance programme with $1.48bn total limit

Florida insurer HCI Group has revealed that its 2019-2020 reinsurance programme provides coverage up to $901mn for catastrophic losses in a single event, excluding flood losses, with total limit for all occurrence of $1.48bn.

Thu 6 Jun 2019

Legal & General takes on £4.6bn pension risk from Rolls Royce

News

Liability

Legal & General takes on £4.6bn pension risk from Rolls Royce

Legal & General has written the UK’s largest pension risk transfer (PRT) deal with the Rolls-Royce UK Pension Fund (RRPF), valued at £4.6bn ($5.84bn).

Thu 6 Jun 2019

Aspen Re swoops on TMR for head of North American property catastrophe

News

People Moves

Aspen Re swoops on TMR for head of North American property catastrophe

Aspen Re has appointed Meredith Head as head of North American property catastrophe.

Thu 6 Jun 2019

News

Losses

Kansai Airports recoups $57mn of Jebi-related losses in 2018

Kansai Airports, which manages three airspaces in Japan’s Osaka area, has recovered 6.2bn yen ($57.3mn) from its disaster insurance program for losses relating to Typhoon Jebi.

Thu 6 Jun 2019

News

Aviva to cut 1,800 jobs and split businesses

Recently installed Aviva CEO Maurice Tulloch plans to cut approximately 1,800 jobs across the group out of a total of 30,000 over the next three years as part of a series of significant changes at the UK insurer.

Thu 6 Jun 2019

AIG among the few IP insurers as market struggles for lift off

Analysis

Liability

AIG among the few IP insurers as market struggles for lift off

A report from Betterley Risk Consultants has revealed the market for intellectual property (IP) insurance remains highly specialised with limited capacity and modest growth but media liability insurance – which touches on IP areas – is growing much faster.

Thu 6 Jun 2019

The days of “rising tide, rising boats” hard markets are over: Selective CEO

News

People Moves

The days of “rising tide, rising boats” hard markets are over: Selective CEO

The CEO of Selective Insurance Group has declared that “anyone that is going to try to socialise rate is going to get murdered” while also demanding reinsurers disclose more information about their retro counterparties.

Wed 5 Jun 2019