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News

Bermuda remains at forefront of innovation: Benchimol

Despite the recent EU blacklisting setback, Bermuda’s executives are confident the island will maintain its position as an important (re)insurance centre.

Mon 25 Mar 2019

News

Bermuda officials head to Europe with de-blacklisting timeline unclear

A delegation from Bermuda is in Europe this week to meet EU officials and make the case for why the island should be removed from a tax haven blacklist.

Mon 25 Mar 2019

Cardiff City to claim Sala deal not legally binding: reports

News

Losses

Cardiff City to claim Sala deal not legally binding: reports

Cardiff City’s Lloyd’s insurers led by China Re could be in for a reprieve if the English Premier League (EPL) club successfully claims the deal to buy Emiliano Sala from Nantes for £15mn was not legally binding.

Mon 25 Mar 2019

News

Cyber

Gallagher appoints cyber practice leader from Hub

John Farley has joined Gallagher as managing director and leader of the US broker’s cyber practice.

Mon 25 Mar 2019

Aspen adds to London credit and political risk team

News

People Moves

Aspen adds to London credit and political risk team

Aspen Insurance has made three appointments to its credit and political risk (CPR) team in London, with new hires from AIG, ICBC and Lloyd’s.

Mon 25 Mar 2019

David Ross: Gallagher cliff-vest loan was “morally bankrupt”

News

Legal/ Regulatory

David Ross: Gallagher cliff-vest loan was “morally bankrupt”

Ardonagh Group CEO David Ross hit out at his former employer Gallagher in the Royal Court on Monday calling its offer of a £1mn “cliff-vest” loan to its own senior broker Peter Burton as “morally bankrupt”.

Mon 25 Mar 2019

News

Cohen & Co venture eyes ILS and insurtech M&A with $151mn IPO

Cohen & Co’s blank-cheque start-up Insurance Acquisition Corp (IAC) has completed an IPO on Nasdaq, raising gross proceeds of $151mm as it sets out to identify targets for transactions in the (re)insurance sector.

Mon 25 Mar 2019

AmWINS names Kiley in retail relationship role

News

People Moves

AmWINS names Kiley in retail relationship role

AmWINS has hired Alycia Kiley to focus on building strategic relationships with the wholesale broker’s retail clients.

Mon 25 Mar 2019

Comment

TMR departures no surprise as RenRe looks to accelerate strategy

Although post-M&A redundancies are never easy to stomach, the gutting of the senior ranks at Tokio Millennium Re (TMR) was a widely anticipated outcome from the moment RenRe announced a deal to buy the reinsurer from Tokio Marine for just over book value last October.

Mon 25 Mar 2019

Haley: WTW “no plans” to divest and has $800mn M&A war chest

News

M&A

Haley: WTW “no plans” to divest and has $800mn M&A war chest

Willis Towers Watson (WTW) will not look to sell any of its current businesses and is once again actively evaluating potential acquisitions armed with a $800mn war chest, the Group CEO told investors last week.

Mon 25 Mar 2019

Weaver departs after three years as Lloyd’s CRO

News

People Moves

Weaver departs after three years as Lloyd’s CRO

Lloyd’s has announced chief risk officer Hilary Weaver will leave at the end of March.

Mon 25 Mar 2019

News

Scor activist group lobbying to remove Kessler as chairman

European activist group CIAM is once again putting pressure on Paris-headquartered Scor by lobbying the reinsurer’s shareholders to support a resolution to remove Group CEO Denis Kessler from also being chairman of the company.

Mon 25 Mar 2019

Comment

Nephila has a key role to play in Florida this year

As the market leader among ILS funds writing US cat risk, a tougher approach from Nephila at the Florida renewal could help support impetus for upwards rate movements, even if “risk-adjusted” rates don’t move as much, reflecting the reassessment of risk by reinsurers.

Mon 25 Mar 2019

News

Nephila will return capital if Florida rates disappoint

Nephila will hand capital back to its investors if it is unable to secure rates at the expected returns it is targeting at the mid-year Florida renewals, The Insurer can reveal.

Mon 25 Mar 2019