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Lockton investigates sexual harassment allegations

News

Legal/ Regulatory

Lockton investigates sexual harassment allegations

Lockton has hired an independent lawyer to conduct an internal investigation after a former employee sued the US broker alleging a pattern of sexual harassment and discrimination going back to 2002 and continuing to last year.

Tue 2 Apr 2019

Long-term growth will be the measure of MMC-JLT success: Doyle

News

M&A

Long-term growth will be the measure of MMC-JLT success: Doyle

The success of MMC’s acquisition of JLT will be determined by the combined entity’s ability to grow in the long term, Marsh CEO John Doyle has said.

Tue 2 Apr 2019

News

Rivals see opportunity in GC-JLT Re fallout

Rival reinsurance brokers large and small are gearing up for what they see as opportunities to hire and win business in the US from the combined operations of Guy Carpenter and JLT Re.

Tue 2 Apr 2019

Analysis

Commercial auto

US commercial auto could get back on recovery road in ’19: AM Best

Aggregate US commercial auto results could finally show improvement in 2019 after years of much needed rate increases, but the difference in performance among individual carriers remains stark, according to AM Best.

Tue 2 Apr 2019

News

ProSight Direct adds 20 new classes

ProSight Specialty Insurance has expanded its online direct-to-consumer small business insurance platform with the addition of 20 new classes of business.

Tue 2 Apr 2019

No respite for airline (re)insurers after costly Q1

Analysis

Aviation

No respite for airline (re)insurers after costly Q1

Despite double-digit rate increases in Q4 2018, the loss-making airline sector has continued with another quarter in the red after a flurry of notable losses in the first three months of the year which has led to predictions of yet another full loss year.

Tue 2 Apr 2019

News

Everest adds Ironshore casualty underwriters to Lloyd’s team

Everest Insurance has hired Graeme McGeachie and Pete Graham for its Lloyd’s general liability casualty team.

Tue 2 Apr 2019

News

Lloyd’s doing the job syndicates should have done themselves: Meacock

Lloyd’s tighter controls on underwriting are actions that capital providers and managing agents should have been taking themselves anyway, according to Lloyd’s most experienced underwriter Michael Meacock.

Tue 2 Apr 2019

News

Cyber

Tokio Marine HCC buys cyber specialist NAS

Tokio Marine HCC has bought NAS Insurance Services, the California-based cyber and professional liability specialist underwriter it has worked with since 1975.

Tue 2 Apr 2019

NSM continues on acquisition trail with Embrace deal

News

M&A

NSM continues on acquisition trail with Embrace deal

White Mountains-owned NSM Insurance Group has bought specialist program manager Embrace Pet Insurance.

Mon 1 Apr 2019

McKeown leaves New Ocean “to pursue other interests”

News

People Moves

McKeown leaves New Ocean “to pursue other interests”

Axa XL has announced that Chris McKeown, the former CEO of New Ocean Capital Management, has stepped down from his role as vice chairman of the ILS fund manager.

Mon 1 Apr 2019

Grounding cover rate hikes likely to be hampered by multi-year contracts: JLT

News

Aviation

Grounding cover rate hikes likely to be hampered by multi-year contracts: JLT

The dominance of long-term policies in the aviation grounding cover market is likely to prevent carriers from hiking rates in the wake of the Ethiopian Airlines disaster, according to JLT.

Mon 1 Apr 2019

Sompo International appoints commercial P&C CEO

News

People Moves

Sompo International appoints commercial P&C CEO

Bermuda-headquartered Sompo International has promoted Christopher Gallagher to the newly-created role of CEO of commercial property casualty, a unit responsible for $6bn in GWP and over 2000 employees globally.

Mon 1 Apr 2019

News

AIG nominates Porrino, Vaughan and Schioldager for board

AIG’s board has nominated three new director candidates: XL’s former CFO, a former National Association of Insurance Commissioners (NAIC) CEO and a former BlackRock executive.

Mon 1 Apr 2019

Ethiopian-Boeing liability claim could erode 4 years XoL premium

News

Aviation

Ethiopian-Boeing liability claim could erode 4 years XoL premium

The ongoing Ethiopian Airlines and Boeing 737 MAX grounding liability claim could erode three to four years’ worth of reinsurers’ global excess-of-loss premium for aerospace, according to Willis Re.

Mon 1 Apr 2019

Loss-hit covers price up to 25% higher in rational 1.4 renewal: Willis Re

News

Property catastrophe

Loss-hit covers price up to 25% higher in rational 1.4 renewal: Willis Re

Loss-affected contracts and programmes saw price increases of up to 25 percent at the Japan-dominated 1 April renewal balanced by flat pricing for loss-free classes and programmes, according to Willis Re.

Mon 1 Apr 2019