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Moody’s goes negative on Axis outlook

Moody’s has revised its ratings outlook of Axis Capital Holdings to negative from stable reflecting the Bermudians lower capitalization and higher operating and financial leverage relative to peers.

Thu 4 Apr 2019

Axa XL makes senior Bermuda professional lines promotion

News

People Moves

Axa XL makes senior Bermuda professional lines promotion

Axa XL has announced Jennifer Minors as senior vice president and product line leader in its Bermuda professional lines insurance unit.

Wed 3 Apr 2019

News

Losses

StarStone Syndicate losses widen; slims book for 2019

Enstar-owned StarStone’s Lloyd’s Syndicate 1301 remained in the red for a second year running after reporting a loss of £89.1mn over 2018.

Wed 3 Apr 2019

News

Apollo Global to launch $4bn Athene life reinsurance sidecar

Alternative investment heavyweight Apollo Global Management has capitalised on investor appetite for annuity reinsurance with a new $4bn+ fund that will effectively act as a sidecar for its fast-expanding Bermudian annuity reinsurer Athene Holding.

Wed 3 Apr 2019

TigerRisk takes Feldman from GC for West Coast practice

News

People Moves

TigerRisk takes Feldman from GC for West Coast practice

TigerRisk is launching a West Coast practice in the US with the hire of Kevin Feldman from Guy Carpenter, The Insurer can reveal.

Wed 3 Apr 2019

Everest Insurance names Lopes chief commercial officer

News

People Moves

Everest Insurance names Lopes chief commercial officer

Everest Insurance has promoted Dane Lopes to the position of chief commercial officer at the expansive carrier.

Wed 3 Apr 2019

TMK names Curran head of reinsurance as Huckstepp exits

News

People Moves

TMK names Curran head of reinsurance as Huckstepp exits

Tokio Marine Kiln has appointed Will Curran head of reinsurance as David Huckstepp leaves the carrier for a “planned break from the sector”.

Wed 3 Apr 2019

News

Up-for-sale Lloyd’s motor business ERS produces best performance since 2013; Securis continues investment

Motor-focused Lloyd’s syndicate ERS returned to profit in 2018, producing its best result since 2013 and confirmed that it is still backed by Securis, the ILS fund manager which was thought to have withdrawn all of its Lloyd’s investments in 2019.

Wed 3 Apr 2019

Premiership Rugby to maintain Gallagher sponsorship despite racism row

News

Legal/ Regulatory

Premiership Rugby to maintain Gallagher sponsorship despite racism row

Premiership Rugby has said it will not end a sponsorship deal with Gallagher following calls for the rugby organisation to sever ties with the broking-giant after its UK boss made an offensive comment about the heritage of a departing employee.

Wed 3 Apr 2019

Arch builds regional presence with Axiom purchase

News

M&A

Arch builds regional presence with Axiom purchase

Arch has acquired the remaining shares in Axiom Underwriting, having initially purchased 60 percent of the business in 2015.

Wed 3 Apr 2019

News

Broker PPL adoption breaks 100 threshold

The number of brokers registered on the Lloyd’s e-placement platform – PPL – has exceeded 100 for the first time, according to figures from the London and International Insurance Brokers Association (LIIBA).

Wed 3 Apr 2019

Analysis

Tax fallout will affect US P&C insurers’ 2019 decisions: AM Best

US property casualty insurers will continue to face numerous challenges in 2019 – new technologies, changes in the global economy, tax reform, the phaseout of Libor and more – which may provide opportunities to transform their business, AM Best has said in a new report.

Wed 3 Apr 2019

Ameriprise sells P&C unit to American Family after strategic review

News

M&A

Ameriprise sells P&C unit to American Family after strategic review

American Family’s acquisition of the P&C operations of Ameriprise Financial for $1.05bn will help broaden the US insurer’s geographical reach and the spread of its storm risk, it said.

Wed 3 Apr 2019

Aon’s estimate of Michael insured loss upped to $11bn

News

Losses

Aon’s estimate of Michael insured loss upped to $11bn

The insured loss estimates for hurricanes Michael and Florence have been increased by Aon in updated event reports.

Wed 3 Apr 2019

News

Insurtech VC firm IA Capital raises $150mn

Insurtech-focused venture capital firm IA Capital Group has raised $150mn across three funds as it looks for new investments in the sector.

Tue 2 Apr 2019

News

Energy

Energy insurance sectors diverging for first time in years: Marsh JLT

The segments of the energy market are for the first time in many years running at different speeds, with rates climbing faster in downstream than upstream and casualty, according to Marsh JLT Specialty.

Tue 2 Apr 2019