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Validus Re’s Driscoll takes global property and ag UW role at AIG

News

People Moves

Validus Re’s Driscoll takes global property and ag UW role at AIG

AIG has moved Validus Re CEO Kean Driscoll to the new position of global CUO for property and agriculture in its General Insurance operation as it builds a layer of senior underwriting management oversight across the unit.

Wed 5 Jun 2019

News

AIG’s Blackboard hires QBE’s Schoberth

Blackboard Insurance has said Uwe Schoberth will be joining from QBE in a role that will focus on market relationships and the company’s expanding go-to-market strategy.

Wed 5 Jun 2019

Florida renewals highlight bifurcated reinsurance rate trend: AIG’s Fry

News

Property reinsurance

Florida renewals highlight bifurcated reinsurance rate trend: AIG’s Fry

Reinsurance buyers at AIG, Allstate and Axis Capital have suggested that the Florida renewal demonstrated a bifurcated pricing environment and agreed that, despite the ILS market tightening, alternative capital is here to stay.

Wed 5 Jun 2019

Integrand’s regulatory supervision spurs AM Best non-rating designation

News

Losses

Integrand’s regulatory supervision spurs AM Best non-rating designation

AM Best has removed Puerto Rico insurer Integrand Assurance Company from under review with negative implications and changed the financial strength rating to a non-rating designation of E (Under Regulatory Supervision) from C++ (Marginal).

Wed 5 Jun 2019

News

WTW launches insurtech investment fund

Willis Towers Watson has expanded its involvement in the insurtech space with the establishment of a new fund, WTW Strategic Ventures.

Wed 5 Jun 2019

News

IGI’s Jabsheh shortlisted for EY World Entrepreneur of the Year

Wasef Jabsheh, the founder and CEO of Dubai-headquartered carrier International General Insurance Holdings (IGI), will be competing for this year’s EY World Entrepreneur of the Year award.

Wed 5 Jun 2019

Canada’s BCI and PE firm PCP win race for £500mn BMS

News

M&A

Canada’s BCI and PE firm PCP win race for £500mn BMS

BMS has secured long-term investment from British Columbia Investment Management Corporation (BCI) and middle market private equity firm Preservation Capital Partners in a deal valuing the London wholesaler at £500mn.

Wed 5 Jun 2019

Beach hires casualty and comp exec Fields

News

Casualty Reinsurance

Beach hires casualty and comp exec Fields

Reinsurance intermediary Beach & Associates has hired former JLT Re executive Scott Fields as senior vice president in its Burlington, North Carolina office, The Insurer can reveal.

Wed 5 Jun 2019

Property cat reinsurance pricing soars as much as 25% at April and June renewals: S&P

News

Property catastrophe

Property cat reinsurance pricing soars as much as 25% at April and June renewals: S&P

As the market recovers from two back-to-back record catastrophe years, loss affected property catastrophe reinsurance accounts saw price increases in the range of 15 to 25 percent during the most recent renewal seasons, according to S&P.

Wed 5 Jun 2019

News

Cyber

Norsk Hydro cyber attack financial impact could reach $70mn

Norsk Hydro has revealed the financial impact of March’s cyber attack on the Norwegian aluminium company could reach as high as $70mn, and it has not yet received any compensation on its AIG-led cyber policy.

Wed 5 Jun 2019

Catlin joins council of fintech investor Motive Partners

News

People Moves

Catlin joins council of fintech investor Motive Partners

Stephen Catlin has joined the global advisory council of financial technology investment firm Motive Partners.

Wed 5 Jun 2019

Kemper plans to raise $129mn in public offering

News

Results

Kemper plans to raise $129mn in public offering

Chicago -based insurer Kemper has issued a public offering of 1,350,000 shares of its common stock, aiming to raise up to $129mn to redeem subordinated debt.

Wed 5 Jun 2019

Sedgwick appoints Cabrera to Brazil role

News

People Moves

Sedgwick appoints Cabrera to Brazil role

Carlyle Group-backed Sedgwick has appointed Beatriz Cabrera as director of its operations in Brazil.

Wed 5 Jun 2019

News

People Moves

Aviva’s Stoddard steps down as CFO

The reshuffling of senior management at Aviva under new CEO Maurice Tulloch has continued with the announcement that CFO Tom Stoddard is stepping down.

Wed 5 Jun 2019