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Shepherd Compello targets European growth with Dutch subsidiary

News

Brexit

Shepherd Compello targets European growth with Dutch subsidiary

Specialist Lloyd’s broker Shepherd Compello has launched a new operation in the Netherlands to support plans to expand in Europe and to mitigate any negative Brexit fallout.

Tue 16 Apr 2019

News

Pop partners with Fractal to expand M&A offering

Sydney-headquartered Pop Insurance Holdings (Pop) and its MGA Fusion Specialty Insurance (Fusion), have entered into a worldwide partnership with Virginia-based tech firm Fractal Industries.

Tue 16 Apr 2019

News

Flood

Private US flood insurance market grew 9% in 2018: NAIC

Private flood insurance premiums increased 9 percent last year, according to initial results revealed by the National Association of Insurance Commissioners (NAIC) property casualty committee, with FM Global continuing to dominate the market.

Mon 15 Apr 2019

Proxy advisory firms split on removing Kessler as Scor chair

News

Results

Proxy advisory firms split on removing Kessler as Scor chair

Investor advisory bodies ISS and Glass Lewis have supported CIAM’s opposition to Denis Kessler’s compensation at Scor, but ISS opposed a recommendation to split the CEO and chairman roles at the French reinsurer.

Mon 15 Apr 2019

AmTrust to sell surety and credit business to Liberty Mutual

News

M&A

AmTrust to sell surety and credit business to Liberty Mutual

Expansive (re)insurer Liberty Mutual has agreed a deal to buy the global surety and credit reinsurance operations of AmTrust.

Mon 15 Apr 2019

News

Everest Insurance Ireland launches UK branch

Everest Insurance Ireland dac (EIID) – the European subsidiary of Bermudian Everest’s International platform – has launched a branch office in the United Kingdom.

Mon 15 Apr 2019

Lloyd’s 2014 YoA sunk by Eur700mn Lürssen shipyard loss

News

Marine

Lloyd’s 2014 YoA sunk by Eur700mn Lürssen shipyard loss

The September 2018 Lurssen shipyard fire has caused an extraordinary eleven-fold quarterly increase in the Lloyd’s incurred claims data for the 2014 YoA account, highlighting the impact the Eur700mn loss had on the 330-year old market, The Insurer can reveal.

Mon 15 Apr 2019

Axis Re promotes Hottinger to EMEA LatAm president

News

People Moves

Axis Re promotes Hottinger to EMEA LatAm president

Axis Re has appointed Andy Hottinger as president of its EMEA LatAm division, succeeding Jan Ekberg who is retiring after a 45-year career in the (re)insurance industry.

Mon 15 Apr 2019

Colello joins PartnerRe as P&C Americas CEO

News

Casualty Reinsurance

Colello joins PartnerRe as P&C Americas CEO

PartnerRe has named Axis executive Jon Colello as CEO of its P&C Americas platform.

Mon 15 Apr 2019

News

People Moves

Arch adds Obelisk to regional division

Arch has completed its acquisition of Obelisk Underwriting, which now forms part of the Arch UK Regional Division.

Mon 15 Apr 2019

Indian regulator maintains 5% cession rate for GIC Re

News

Legal/ Regulatory

Indian regulator maintains 5% cession rate for GIC Re

The Insurance Regulatory and Development Authority of India (Iradi) has maintained the 5 percent obligatory cession for GIC Re for 2019-20.

Mon 15 Apr 2019

News

Global reinsurance capital falls by $20bn in 2018: Aon

Total capital in the global reinsurance sector fell for the first time since 2015, reducing by $20bn to $585bn at 31 December 2018, according to analysis from broking giant Aon.

Mon 15 Apr 2019

Analysis

Universal: outlier or bellwether for a hard Florida renewal?

Reinsurers have been aggressively talking the talk ahead of the upcoming mid-year Florida renewal.

Mon 15 Apr 2019

Markel: no “bad faith” in CatCo reserving

News

Legal/ Regulatory

Markel: no “bad faith” in CatCo reserving

An external legal team parachuted into the discredited ILS retro fund manager CatCo has found no “bad faith” in the under-reserving that took place after the 2017 loss events.

Mon 15 Apr 2019

Rays of legislative hope in the Sunshine State?

Analysis

Legal/ Regulatory

Rays of legislative hope in the Sunshine State?

Florida’s House of Representatives has passed legislation reforming assignment of benefits (AOB), increasing the state cat fund’s reimbursement retention and tweaking surplus lines rules. The Insurer analyses the odds of the state’s Senate turning any of that into reality and reveals the bills (re)insurers should be watching.

Fri 12 Apr 2019

Hudak gets vice chairman role at Willis Re North America

News

People Moves

Hudak gets vice chairman role at Willis Re North America

Gloria Hudak has been promoted to vice chairman of Willis Re North America, with Tim Driscoll taking over as head of the firm’s New York branch, The Insurer can reveal.

Fri 12 Apr 2019