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News

Argo urges shareholders to vote against Voce nominations at AGM

The scene is set for a dramatic showdown over Argo’s board at its annual general meeting, after it was revealed that Voce Capital declined an invitation for an independent committee to meet the activist investor’s nominees.

Tue 26 Mar 2019

Comment

Property catastrophe

A tail of two renewals

The influence of adverse loss development on “short-tail” wind risk is proving a common theme in Japanese and Florida negotiations. But the reinsurance buying culture in the two markets couldn’t be any more different.

Tue 26 Mar 2019

News

Cyber

Marsh launches cyber products evaluation programme

Marsh has announced the Cyber Catalyst programme, which brings together Allianz, Axis, Axa XL, Beazley, CFC, Munich Re, Sompo International and Zurich North America to evaluate products and services they consider effective in reducing cyber risk.

Tue 26 Mar 2019

Ross denies attempt to hire “unemployable” Matson

News

Legal/ Regulatory

Ross denies attempt to hire “unemployable” Matson

As the ongoing legal battle between Gallagher and the Ardonagh Group continues, the latter’s CEO David Ross denied any attempts to recruit Gallagher’s Simon Matson, describing how the terms of his contact rendered the executive “unemployable”.

Tue 26 Mar 2019

News

Cyber risk insurtech Sayata Labs raises $6.5mn

Israeli start-up Sayata Labs has raised $6.5mn in seed funding and announced a partnership with French insurer Axa.

Tue 26 Mar 2019

Comment

Neal: Turning negative Lloyd’s headlines into a platform for driving change

Another heavy loss-year and the recent negative headlines have presented Lloyd’s CEO John Neal with an opportunity to galvanise his mandate for change tomorrow. He started a day early with a decisive response on sexual harassment reports.

Tue 26 Mar 2019

News

Lloyd’s reveals potential lifetime bans for sexual harassment

Lloyd’s has announced what it describes as “a robust plan” to address reports of sexual harassment in the market.

Tue 26 Mar 2019

News

Cyber

AIG is lead insurer on Hydro cyber risk policy

Norwegian aluminium company Norsk Hydro has revealed AIG is the lead insurer on its cyber risk policy, and has also estimated the financial impact from the first week since its cyber attack is $35-41mn.

Tue 26 Mar 2019

News

CatCo shareholders approve listed fund run-off

Markel CatCo’s London-listed retro investment fund CatCo Reinsurance Opportunities Fund is set to be placed into run-off following a shareholder meeting where investors almost unanimously approved the proposal.

Tue 26 Mar 2019

News

Watford Holdings confirms Nasdaq direct listing set for 28 March

Watford Holdings, the Bermudian total return (re)insurer for which Arch Capital acts as reinsurance manager, plans to complete its direct listing on Nasdaq on 28 March.

Tue 26 Mar 2019

News

People Moves

O’Donohoe leaves Hamilton; Barrett takes new specialty role

Hamilton at Lloyd’s CEO Dermot O’Donohoe is leaving the carrier just weeks after its Bermudian parent announced it had agreed a deal to buy Pembroke and other operations from Liberty Mutual.

Tue 26 Mar 2019

News

People Moves

Coverys names Crist as head of claims

Lloyd’s managing agency Coverys has named Caitlin Crist to the newly created role of head of claims of Syndicate 1975.

Tue 26 Mar 2019

London yacht rates now up as much as 70 percent

News

Marine

London yacht rates now up as much as 70 percent

A wave of retrenchment from the yacht insurance market – including the exits of Markel and Channel Syndicate – has driven rates at Lloyd’s for the business up as much as 70 percent, analysis by The Insurer reveals.

Tue 26 Mar 2019

Analysis

Rates

Commercial insurance rates to climb by up to 5% in ’19: BRG

US commercial insurance pricing is expected to increase by up to 5 percent in 2019, according to a survey of carriers by analysts at The Buckingham Research Group (BRG).

Tue 26 Mar 2019

EMCI should be valued at >$50 a share: activist investor

News

M&A

EMCI should be valued at >$50 a share: activist investor

EMC Insurance Group (EMCI) is worth significantly more than $50 a share, according to the activist investor who is trying to get a better deal than the current $30 a share offer from the carrier’s mutual parent.

Mon 25 Mar 2019

News

Scor board battles back against activist CIAM

Scor has fought back against an attempt by activist shareholder CIAM to have group CEO Denis Kessler removed from his chairman role at the Paris-based reinsurer.

Mon 25 Mar 2019