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News

CCR Re launches first Paris-based reinsurance sidecar 157 Re

State-backed French reinsurer CCR Re has unveiled the first ever reinsurance sidecar domiciled in France and says the transaction could even pave the way for an onshore ILS market to develop in Paris.

Thu 28 Mar 2019

Lockton calls out Alliant’s “corporate raiding” business model

News

Legal/ Regulatory

Lockton calls out Alliant’s “corporate raiding” business model

Lockton has exposed what it alleges is a strategy of “unscrupulous corporate raiding” at Alliant in a Delaware lawsuit filed against its expansive rival.

Thu 28 Mar 2019

News

Voce accuses Argo’s board of insouciance

Voce Capital Management has hit back at Argo’s board urging shareholders to reject the activist investor’s five director nominations by slamming the board’s “laconic response”, “insouciance”, and “extensive self-praise and preening”.

Wed 27 Mar 2019

GC’s McBurney leaves for ceded re role at Berkley

News

People Moves

GC’s McBurney leaves for ceded re role at Berkley

Scott McBurney has left Guy Carpenter to join WR Berkley in the specialty insurer’s ceded reinsurance department, The Insurer can reveal.

Wed 27 Mar 2019

News

Lockton sues Alliant over alleged “illicit corporate raid”

Lockton has widened its legal action in response to a mass defection of producers and colleagues from its Denver office by suing their new employer Alliant, The Insurer can reveal.

Wed 27 Mar 2019

News

Citizens confirms $200mn PLA reinsurance plan

The surplus depleting impact of hurricanes, attritional losses and assignment of benefits (AOB) are behind Citizens plan for a $200mn risk transfer from its personal lines account (PLA), in a move first revealed by The Insurer.

Wed 27 Mar 2019

Bird to land at Lloyd’s broker Prospect as chairman

News

People Moves

Bird to land at Lloyd’s broker Prospect as chairman

Former Besso CEO Colin Bird is set to join the board at fellow Lloyd’s intermediary Prospect Insurance Brokers (PIB) as chairman, The Insurer can reveal.

Wed 27 Mar 2019

DLA’s NotPetya claim denial not because of war exclusion, says Hiscox

News

Cyber

DLA’s NotPetya claim denial not because of war exclusion, says Hiscox

Hiscox is being challenged by DLA Piper for refusing a multimillion pound claim from the NotPetya cyber attack but the UK insurer has denied reports it was because of a war exclusion.

Wed 27 Mar 2019

News

The Hartford launches global insurer network for multinational clients

The Hartford has launched a tech-enabled global insurer network through which it will offer coverage for multinational US-based companies in more than 200 countries overseas through local and regional partners.

Wed 27 Mar 2019

Other liability and auto liability reserves remain deficient: AM Best

Analysis

Casualty

Other liability and auto liability reserves remain deficient: AM Best

US property casualty (P&C) reserves for other and product liability lines as well as auto liability remained deficient at the end of 2018, despite an improved position on overall industry reserves, according to AM Best.

Wed 27 Mar 2019

Hancock confirms “rigorous” Lloyd’s syndicate scrutiny will continue

News

Results

Hancock confirms “rigorous” Lloyd’s syndicate scrutiny will continue

Syndicates trading at Lloyd’s will continue to be placed under the microscope as “rigorous” performance review remain a part of the Corporation’s medium to long-term strategy to return the market to profitability.

Wed 27 Mar 2019

News

Neon leads new $100mn political risk consortium

Lloyd’s insurer Neon will lead a new London political risks consortium, with MS Amlin becoming a joint agreement party.

Wed 27 Mar 2019

News

Scor activist continues war of words with claim Kessler remuneration “too high”

CIAM, the European activist fund, has continued its war of words with Scor after public hostilities resumed earlier this week.

Wed 27 Mar 2019

Analysis

Energy

Energy only major Lloyd’s class with combined ratio below 100 percent in 2018

Energy was once again the strongest performing line of non-life Lloyd’s business in 2018 but only because of releases from over-reserved prior years.

Wed 27 Mar 2019

News

Neal reveals Lloyd’s transformation plan

New Lloyd’s CEO John Neal has unveiled his first stage plans to radically transform the market centred on building a two-platform Lloyd’s, overhauling lead and following markets and potentially turning Lime Street into a capital exchange.

Wed 27 Mar 2019

Lloyd’s posts £1bn aggregate loss in 2018

News

Losses

Lloyd’s posts £1bn aggregate loss in 2018

Lloyd’s fell into the red for the second year in a row with an aggregate loss of £1bn in 2018, compared to £2bn a year earlier.

Wed 27 Mar 2019