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People Moves

Reardon and Eichhorn exit Keating

US wholesaler Keating has parted company with the presidents of its brokerage and program divisions as part of a repositioning that has seen the firm’s founder James Keating retake direct control of the operations, The Insurer can reveal.

Thu 11 Apr 2019

Florida’s House passes AOB reform and cat fund LAE increase

News

Legal/ Regulatory

Florida’s House passes AOB reform and cat fund LAE increase

Florida’s House of Representatives has passed legislation that would clamp down on assignment of benefits (AOB) abuse, although not without first stripping auto glass suits from the bill. The House also passed a bill to increase the reimbursement of loss adjustment expenses covered by the state’s cat fund.

Thu 11 Apr 2019

Integrand’s London market reinsurers petition to compel arbitration

News

Legal/ Regulatory

Integrand’s London market reinsurers petition to compel arbitration

XL Catlin, MS Amlin Underwriting, Aspen Insurance UK and Liberty Specialty Services have filed to compel arbitration in their dispute with Puerto Rican carrier Integrand over hurricane losses, following similar moves by Odyssey Re and Swiss Re, The Insurer can reveal.

Thu 11 Apr 2019

Lemonade raises $300mn to fund US and European expansion

News

Capital

Lemonade raises $300mn to fund US and European expansion

New York-based insurtech Lemonade has raised $300mn in Series D funding – led by SoftBank with participation from other investors including Allianz – in a move that reportedly values the company at more than $2bn.

Thu 11 Apr 2019

News

Industry veteran Jerry McArthur dies

Industry veteran Jerry McArthur passed away on 4 April following a short battle with cancer.

Thu 11 Apr 2019

China Re completes acquisition of Chaucer’s Australian and Irish subsidiaries

News

M&A

China Re completes acquisition of Chaucer’s Australian and Irish subsidiaries

Hong Kong-listed carrier China Re has completed the acquisition of two of Chaucer Holdings’ subsidiaries after receiving regulatory approval in the jurisdictions.

Thu 11 Apr 2019

TMK swoops on Axa XL for accident and health duo

News

People Moves

TMK swoops on Axa XL for accident and health duo

Tokio Marine Kiln (TMK) has appointed David Robotham as divisional head of accident and health insurance alongside Paul De Vido as divisional head of accident and health reinsurance.

Thu 11 Apr 2019

Beazley appoints Microsoft’s Hodson and DLG’s Reizenstein to board

News

People Moves

Beazley appoints Microsoft’s Hodson and DLG’s Reizenstein to board

Lloyd’s blue-chip insurer Beazley has appointed Nicola Hodson and John Reizenstein to its board as non-executive directors with effect from 10 April 2019.

Thu 11 Apr 2019

News

Lloyd’s pushes forward ‘action plan’ to tackle harassment

Lloyd’s has gone live with two initiatives that have been created in recent weeks to address reports of sexual harassment in the market.

Thu 11 Apr 2019

Howden Norway swoops on employee benefits broker NIP

News

M&A

Howden Norway swoops on employee benefits broker NIP

Howden Forsikringsmegling – the Norwegian arm of Howden Broking Group - has acquired a majority-share in employee benefits broker Norwegian Insurance Partner (NIP).

Thu 11 Apr 2019

Canopius pushed to Lloyd’s top-five with AmTrust deal

News

M&A

Canopius pushed to Lloyd’s top-five with AmTrust deal

PE-backed Canopius will be catapulted into being a top-five Lloyd’s carrier responsible for circa £2.01bn of annual written premiums on the assumption it completes its acquisition of AmTrust’s Lloyd’s business, analysis by The Insurer shows.

Thu 11 Apr 2019

TransRe takes Validus Re’s Beltran in US and LatAm shake-up

News

People Moves

TransRe takes Validus Re’s Beltran in US and LatAm shake-up

TransRe - the reinsurance arm of US listed Alleghany – has hired Jorge Beltran to lead its Latin America and Caribbean business as it merges the unit with its North American operations.

Thu 11 Apr 2019

News

Commercial auto

Atlas Financial shares climb 12% on news of potential sale

Shares in Atlas Financial jumped today after the US commercial auto insurer confirmed that it has appointed Sandler O’Neill as financial advisor as part of a previously announced strategic review that could result in a sale of all or part of the company.

Wed 10 Apr 2019

Zurich Canada hires Aon exec Royer as liability head

News

People Moves

Zurich Canada hires Aon exec Royer as liability head

Zurich Canada has hired Aon Reinsurance Solutions executive Marco Royer as head of liability.

Wed 10 Apr 2019

San Francisco-based insurtech Embroker raises $28mn

News

Capital

San Francisco-based insurtech Embroker raises $28mn

Digital insurance broker Embroker has raised $28mn in Series Funding led by new investor Tola Capital, with existing investors including XL Innovate also participating.

Wed 10 Apr 2019

News

Casualty

Starr makes senior casualty appointment

Starr Insurance Companies has promoted senior vice president Carmella Capitano to head of primary general casualty-risk management and excess casualty.

Wed 10 Apr 2019