AnalysisD&FThe great D&F revival?With the three market gorillas – AIG, FM Global and Lloyd’s – all scaling back significantly, 2019 looks to provide propitious rating conditions for those staying in the D&F space.Thu 16 May 2019
NewsLossesCal Fire says PG&E power lines started Camp FirePG&E’s carriers have been confirmed as on the hook for $1.4bn of losses after a California Department of Forestry and Fire Protection investigation blamed the utility’s power lines for causing last November’s Camp Fire.Thu 16 May 2019
AnalysisLossesHow BI drove Jebi’s surprising loss creep(Re)insurers’ first quarter results included another round of reserve increases for Typhoon Jebi. An analysis of their earnings calls reveals insight into Jebi’s unusually large loss creep.Thu 16 May 2019
NewsCasualtySwiss Re Corporate Solutions exits E&S general liabilitySwiss Re Corporate Solutions has pulled out of E&S primary and excess US general liability business, The Insurer can reveal.Thu 16 May 2019
NewsISS and Glass Lewis support ‘no’ vote on AIG exec pay: reportShareholder proxy firms Institutional Shareholder Services (ISS) and Glass Lewis have advised American International Group shareholders to vote against pay packages awarded to the carrier’s directors.Thu 16 May 2019
NewsPeople MovesStevens replaces Drake as president of Victor InternationalMarsh & McLennan Companies-owned managing general underwriter, Victor Insurance, has named Anthony Stevens as president of Victor International.Thu 16 May 2019
NewsResultsGenerali profits up 6.9% in Q1Italian insurance giant Generali witnessed a surge in profit in the first quarter, reporting an operating result at group level that increased 6.9 percent to Eur1.3bn ($1.46bn).Thu 16 May 2019
NewsPeople MovesAspen head of US distribution departs amid restructureRussell Brown, senior vice president and head of US distribution at Aspen Insurance, has left the carrier as part of the restructure revealed this week, The Insurer can reveal.Thu 16 May 2019
NewsM&AFundamentals of distribution business drive frothy M&A environmentThere is no sign of a let-up in M&A activity in the US distribution space, as buyers continue to be drawn to the appeal of cash businesses generating fee and commission-based income, according to executives at Target Markets last week.Wed 15 May 2019
NewsPeople MovesEx-TMR exec Faries appointed ChainThat advisor(Re)insurance Blockchain solutions provider ChainThat has hired Kathleen Faries, who recently left Tokio Millennium Re, as its Bermuda advisor.Wed 15 May 2019
NewsBermuda execs Johnston and Komposch swap Aon for GCAon Reinsurance Solutions executives Robert Johnston and Peter Komposch are leaving the firm’s Bermuda platform to join rival Guy Carpenter, The Insurer can reveal.Wed 15 May 2019
NewsFloodUS House passes bill extending NFIP to 30 SeptemberThe House of Representatives has passed a bill to extend authorisation of the National Flood Insurance Program, with the Senate now needing to take action to avoid the backstop expiring at the end of this month.Wed 15 May 2019
NewsResultsPartnerRe posts 97.7% CR despite specialty underwriting lossPartnerRe has reported a combined ratio of 97.7 percent for the first quarter – up from 95.2 percent in Q1 2018 – despite mid-size losses and reserve development pushing the specialty combined ratio to 116.0 percent.Wed 15 May 2019
NewsAon and GC team up to digitize reinsurance placement processBroking powerhouses Aon and Guy Carpenter have been working with The Institutes RiskStream Collaborative on an initiative to use distributed ledger technology (DLT) to streamline the reinsurance placement process.Wed 15 May 2019
NewsAviationTrotti to head aviation at McGill & PartnersJLT’s outgoing global head of aerospace Joe Trotti is set to become the latest big name to join Steve McGill’s expansive start-up, McGill & Partners, The Insurer can reveal.Wed 15 May 2019
NewsPeople MovesScor names Jenkins CEO of Americas P&C reinsuranceScor has made a series of internal management changes that include the appointment of John Jenkins as CEO of its P&C reinsurance operations in the Americas.Wed 15 May 2019