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News

Business insurance platform Indio raises $20mn

Indio Technologies, an insurtech that streamlines the business insurance application process, has secured $20mn in Series B funding.

Sat 4 May 2019

News

Atlas Financial closes below $1 for third straight day after firing auditor

Atlas Financial Holdings’ share price has closed at below $1 for three days in a row after the troubled US commercial auto insurer fired its auditor over a disagreement about reserve adequacy.

Fri 3 May 2019

Capital markets duo Zanelli and Miller leave JLT

News

People Moves

Capital markets duo Zanelli and Miller leave JLT

Jardine Lloyd Thompson Capital Markets executives Bart Zanelli and Rick Miller have left the firm as the integration of operations with Guy Carpenter gets underway, The Insurer can reveal.

Fri 3 May 2019

Florida legislature passes FHCF and surplus lines changes

News

Legal/ Regulatory

Florida legislature passes FHCF and surplus lines changes

Florida’s Senate has passed an omnibus insurance bill – which now heads to the governor’s desk – that includes provisions to increase the required loss adjustment expenses (LAE) reimbursement covered by the state’s catastrophe fund and to tweak surplus lines rules.

Fri 3 May 2019

HCI shares trade down 6% on earnings miss

News

Results

HCI shares trade down 6% on earnings miss

Shares in Florida homeowners insurer HCI Group were trading down almost 6 percent today (3 May) after it reported an earnings miss that included a combined ratio of 100.3 percent that was significantly higher than the 80.2 percent in the same period last year.

Fri 3 May 2019

News

Argo: Every Voce campaign win destroys shareholder value

In the latest shot fired in Argo’s dispute with activist investor Voce Capital Management, the Bermudian (re)insurer has charged that all previous Voce campaign wins have destroyed shareholder value, slamming its “hypocritical”, ex-AIG-heavy, director nominees.

Fri 3 May 2019

News

M&A

R&Q completes Global US acquisition

Randall & Quilter Investment Holdings has completed the delayed acquisition of Global US Holdings from an investment vehicle managed by Axa Liabilities Managers.

Fri 3 May 2019

News

Casualty Reinsurance

Chandler leaves JLT Re for BMS

JLT Re North America deputy CEO Peter Chandler has left the firm to take the position of president at expansive broker BMS’s US reinsurance operations.

Fri 3 May 2019

News

RKH Reinsurance Brokers targets expansion

RKH Reinsurance Brokers (RKHRB) - part of the Hyperion Group – is targeting growth across the reinsurance broking spectrum, having expanded into several key areas in recent months, The Insurer can reveal.

Fri 3 May 2019

The Hanover tipped as acquisition target post Chaucer sale

News

M&A

The Hanover tipped as acquisition target post Chaucer sale

The Hanover is a “very desirable” acquisition target now the Chaucer divestiture is complete, believes JMP Securities analyst Matthew Carletti.

Fri 3 May 2019

Stratts and Aman leave JLT Re in Philadelphia

News

People Moves

Stratts and Aman leave JLT Re in Philadelphia

Melissa Barlow Stratts and Charles Aman are among a clutch of departures from JLT Re in the US as its operations are combined with Guy Carpenter following the takeover by MMC, The Insurer can reveal.

Fri 3 May 2019

News

Millette: expect more ILS involvement in run-off

ILS funds are expected to expand their mandate to facilitate increased participation in the run-off market, according to Mike Millette, founder and managing partner of insurance and reinsurance specialist investment manager Hudson Structured Capital Management (HSCM).

Fri 3 May 2019

Swiss Re shares trade down on Q1 earnings miss

News

Results

Swiss Re shares trade down on Q1 earnings miss

Shares in reinsurance behemoth Swiss Re were trading down close to 4 percent in Zurich this morning as investors reacted negatively to a big Q1 2019 earnings miss on the back of large losses and a deteriorating combined ratio in the carrier’s P&C division.

Fri 3 May 2019

Samsung to take “strategic stake” in top-five Lloyd’s insurer Canopius

News

M&A

Samsung to take “strategic stake” in top-five Lloyd’s insurer Canopius

Korean insurer Samsung Fire & Marine Insurance (SFMI) has taken a strategic stake in top five Lloyd’s carrier Canopius and said it is a major step in its international ambitions.

Fri 3 May 2019

News

Swiss Re P&C posts 110.3% CR in Q1 as losses take toll

Reinsurance giant Swiss Re has reported a combined ratio of 110.3 percent in its P&C division in the first quarter, a deterioration of 18.3 points compared to the prior year quarter on the back of large losses – including the impact of the Ethiopian Airlines crash and flooding in North Queensland, Australia.

Fri 3 May 2019

BGC Partners pulls out of RFIB sale process

News

M&A

BGC Partners pulls out of RFIB sale process

BGC Partners has pulled out of the sale process for RFIB Insurance Brokers, The Insurer can reveal. In late March, this publication revealed that BGC Partners and AmWINS were frontrunners in the Calera Capital-run process.

Fri 3 May 2019