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Arcus Syndicate shakes-up strategy after 2018 loss

News

Results

Arcus Syndicate shakes-up strategy after 2018 loss

Credit Suisse’s Arcus 1856 is repositioning its portfolio after exiting a whole account quota share it has had in place with Barbican’s serial loss-making Syndicate 1955.

Fri 5 Apr 2019

AIG takes Zortman from QBE to run Private Client Group

News

M&A

AIG takes Zortman from QBE to run Private Client Group

AIG has hired Kathleen Zortman from QBE as president and CEO of its Private Client Group, based in New York.

Fri 5 Apr 2019

JLT Specialty USA property head Sherman takes team to NFP

News

People Moves

JLT Specialty USA property head Sherman takes team to NFP

MMC-owned JLT Specialty USA property practice leader Sarah Sherman has left the firm to join private equity-backed broker NFP, The Insurer can reveal.

Fri 5 Apr 2019

News

Risks bound on PPL tops 50,000

Over 50,000 risks have now been bound on the Lloyd’s electronic placing platform PPL.

Fri 5 Apr 2019

News

Casualty

Casualty insurers face full limits loss on $800mn NiSource tower

Casualty insurers are now facing the prospect of a full limits loss on the $800mn coverage bought by utility company NiSource from last September’s Greater Lawrence gas pipeline explosion, The Insurer can reveal.

Thu 4 Apr 2019

CSU forecasts slightly below normal 2019 hurricane season

News

Losses

CSU forecasts slightly below normal 2019 hurricane season

Colorado State University’s Department of Atmospheric Science is a predicting slightly below average hurricane activity this year, with the current weak El Niño event likely to persist and perhaps even strengthen this summer and fall.

Thu 4 Apr 2019

Munich Re Specialty Insurance adds Edelstein as COO

News

People Moves

Munich Re Specialty Insurance adds Edelstein as COO

Munich Re has named former Hiscox executive Adam Edelstein as COO of its new specialty insurance platform.

Thu 4 Apr 2019

News

Property catastrophe

Hamilton Re renews $65mn Turing Re sidecar

Hamilton Re has secured $65mn of collateralized capacity from its Turing Re sidecar through the issuance of preference shares.

Thu 4 Apr 2019

Leading insurtechs growing fast, profits harder to find

Analysis

Results

Leading insurtechs growing fast, profits harder to find

An analysis of six prominent insurtechs with US statutory entities reveals consistently impressive premium growth figures but widely varying expense figures and underwriting losses for most.

Thu 4 Apr 2019

News

Flood

Midwest floods will not be major homeowners or NFIP loss: AM Best

Despite mounting economic damages from the ongoing Midwest flooding, Fema’s reinsurance programme for the NFIP appears unlikely to attach because of the low take-up of flood cover in the region.

Thu 4 Apr 2019

ILS Lloyd’s carrier Arcus highlights strategy shift by backing Beardmore’s London MGA

News

Energy

ILS Lloyd’s carrier Arcus highlights strategy shift by backing Beardmore’s London MGA

Newly launched London-based MGA, Aurous Risk Partners has secured its first Lloyd’s energy binder, led by Credit Suisse’s Lloyd’s platform Arcus Syndicate 1856.

Thu 4 Apr 2019

Branch set to launch Cal-quake MGA Boundary

News

Property catastrophe

Branch set to launch Cal-quake MGA Boundary

Former TigerRisk executive Crosby Branch is launching a new California quake homeowners insurance MGA called Boundary Insurance Services, The Insurer can reveal.

Thu 4 Apr 2019

News

Energy

Downstream energy capacity witnesses first fall since 2001: WTW

The downstream energy market witnessed a decrease in underwriting capacity for the first time since 2001 with prospects set to remain bleak as a result of challenges to unprofitability and a continued costly loss environment, according to a report from Willis Towers Watson.

Thu 4 Apr 2019

Axa to leverage XL acquisition to sell SME specialty products

News

M&A

Axa to leverage XL acquisition to sell SME specialty products

The chief executive of Axa UK and Ireland has revealed the carrier intends to repackage XL specialty products for SME clients, with an immediate focus on cyber.

Thu 4 Apr 2019

News

Barbican cuts per risk capacity and ends two QS arrangements

Barbican’s Lloyd’s Syndicate 1955 has confirmed the repositioning of its portfolio and said it has reduced its per risk capacity in several classes and that two of its whole account quota share reinsurance arrangements have been discontinued.

Thu 4 Apr 2019

News

Brexit

LMG calls on government to 'liberalise' market access post-Brexit

The London Market Group (LMG) has called on the UK government to “liberalise” access to key markets including the US, Switzerland, MENA and Latin America post-Brexit and to use its global network of embassies to promote the London insurance market around the world.

Thu 4 Apr 2019