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Brcerevic appointed head of Aon's Carrier Solutions Group

News

People Moves

Brcerevic appointed head of Aon's Carrier Solutions Group

Aon has named Sasa Brcerevic as head of its MGA-focused Carrier Solutions Group, The Insurer can reveal.

Mon 3 Jun 2019

De-risking and diversification help keep Heritage reinsurance cost down

News

Property catastrophe

De-risking and diversification help keep Heritage reinsurance cost down

Superregional US carrier Heritage reported an overall reinsurance cost that fell for its 2019 cover despite paying increases in Florida on a risk-adjusted basis.

Mon 3 Jun 2019

Guy Carp claims Lockton trio “began a full-on assault” on its brokers

News

Legal dispute

Guy Carp claims Lockton trio “began a full-on assault” on its brokers

Guy Carpenter claims that the trio of its executives that joined Lockton last month have solicited two Guy Carpenter executives as well as a substantial client since they left the Marsh & McLennan Companies (MMC) subsidiary.

Mon 3 Jun 2019

Hurricane cat bond demand strong in 2019: Fitch

News

Property catastrophe

Hurricane cat bond demand strong in 2019: Fitch

Ten cat bonds totalling nearly $1.8bn have been announced in 2019 featuring named storm risk as a trigger, according to a report from Fitch assessing the state of the insurance market as the hurricane season starts.

Mon 3 Jun 2019

AmWINS completes acquisition of Atlantic Risk Specialists

News

M&A

AmWINS completes acquisition of Atlantic Risk Specialists

US wholesale giant AmWINS has completed its purchase of regional wholesale broker and MGA Atlantic Risk Specialists (ARS), in a move first revealed by The Insurer last month.

Mon 3 Jun 2019

News

M&A

Tysers in shortlisted RFIB M&A talks

Tysers and its owner Odyssey Partners has emerged as a candidate to buy the private equity-owned RFIB Insurance Brokers which would create an independent London market wholesaler with total revenues in the region of £200mn ($260mn), The Insurer can reveal.

Mon 3 Jun 2019

News

Lloyd’s mandates harassment and discrimination survey as deadline is extended

The chief executive of Lloyd’s John Neal has today written to managing and member agents of Lloyd’s mandating the circulation of the Corporation’s working culture survey to all their UK staff while simultaneously pushing back the deadline to 14 June.

Mon 3 Jun 2019

News

Citizens completes risk transfer with partially placed coastal and PLA layers

Florida’s state-backed insurer Citizens Property Insurance Corporation has completed its 2019 cat reinsurance renewal with the $350mn coastal account aggregate and new $200mn personal lines account (PLA) layers partially placed, The Insurer can reveal.

Mon 3 Jun 2019

Markel CatCo increases 2017 and 2018 reserves

News

Losses

Markel CatCo increases 2017 and 2018 reserves

Markel CatCo is to increase the loss reserves held by its listed reinsurance fund for Typhoon Jebi, Hurricane Michael, as well as 2017 catastrophes, following the receipt of cedant loss reports in the past 15 days.

Mon 3 Jun 2019

RSG closes Atlantic Specialty Lines purchase

News

M&A

RSG closes Atlantic Specialty Lines purchase

Ryan Specialty Group (RSG) has completed its acquisition of wholesale broker Atlantic Specialty Lines (ASL) for an undisclosed sum.

Mon 3 Jun 2019

White Mountains buys into ILS manager Elementum

News

M&A

White Mountains buys into ILS manager Elementum

White Mountains has bought a minority stake in Elementum Advisors in a transaction that also sees the Bermudian financial services group invest $50mn in the ILS manager’s funds.

Mon 3 Jun 2019

News

Legal/ Regulatory

Creditors owed $118mn by bankrupt CBL

The long drawn out liquidation case of CBL Corporation came to a close last week as administrator, KordaMentha, filed final accounts detailing outstanding payments of NZD 180mn ($118.1mn) due to 28 creditors.

Mon 3 Jun 2019

Gallagher completes JLT Aerospace takeover

News

Aviation

Gallagher completes JLT Aerospace takeover

Arthur J Gallagher has completed its £190mn ($240.1mn) acquisition of JLT’s global aviation business.

Mon 3 Jun 2019

News

Aviation

Hive Aero broadens aviation war book into excess liability coverage

London-based MGA Hive Aero has introduced excess third-party aviation war liabilities (AVN52) to its portfolio which, until now, was limited to aviation hull and war.

Mon 3 Jun 2019