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News

Arch closes $342mn mortgage reinsurance ILS deal

Arch Mortgage Insurance (Arch MI) has obtained $341.8mn of indemnity reinsurance on a pool representing nearly $23bn of mortgages from the Bellemeade Re 2019-1 insurance-linked securities deal.

Tue 19 Mar 2019

Analysis

Roundtable: what is the future of the independent broker?

Following yet another titan year of broker consolidation The Insurer – in association with Lloyds Bank – last month gathered a host of senior broking executives to garner insight into the implications and drivers of future M&A, the challenge of modernisation and how the regulator can better service UK and London market brokers.

Tue 19 Mar 2019

Gallagher's Matson reported “irregular” £625,000 Ardonagh loan to the FCA

News

Legal/ Regulatory

Gallagher's Matson reported “irregular” £625,000 Ardonagh loan to the FCA

Gallagher CEO Simon Matson reported the “irregular” £625,000 loan made to former Alesco employee Peter Burton from a company associated with the Ardonagh Group to the Financial Conduct Authority, a court heard.

Tue 19 Mar 2019

News

Marine

Chaucer teams with marine insurtech Concirrus

Lloyd’s specialty insurer Chaucer has partnered with marine focused insurtech, Concirrus, to use its data analytics platform.

Tue 19 Mar 2019

News

Lockton to step up pursuit of injunctive relief against Alliant defectors

Lockton will seek injunctive relief in multiple jurisdictions after failing in a bid to get a temporary restraining order (TRO) last Friday in its case against seven producers who defected to rival Alliant.

Mon 18 Mar 2019

Comment

It may be a temporary setback but Bermuda could do without more self-inflicted wounds...

If the adage ‘bad news travels fast’ is to believed, then word of Bermuda’s addition to the European Union’s tax haven blacklist last week must have been reverberating around the island in next-to-no time.

Mon 18 Mar 2019

News

Legal/ Regulatory

Gallagher v Ardonagh: the case so far

The war of words between broking house Gallagher and subsidiaries of the Ardonagh Group entered its fifth day on Monday as legal teams for both sides continued to battle it out in the Royal Court over a bitter staff and business poaching dispute.

Mon 18 Mar 2019

News

Swiss Re seeks to dismiss $200mn+ Integrand case and force arbitration

Swiss Re has filed a motion to dismiss the lawsuit brought against it and a raft of other reinsurers by Puerto Rican carrier Integrand over the alleged $56mn underpayment of claims from hurricanes Irma and Maria, The Insurer can reveal.

Mon 18 Mar 2019

Ex-Ironshore Environmental chair Boren joins Synapse advisory board

News

People Moves

Ex-Ironshore Environmental chair Boren joins Synapse advisory board

Joseph Boren has been appointed to the executive advisory board of US specialty wholesale insurance brokerage Synapse Services.

Mon 18 Mar 2019

Allianz considers merging asset manager arm with DWS : reports

News

M&A

Allianz considers merging asset manager arm with DWS : reports

German insurer Allianz is investigating combining its asset management business with DWS, the asset management arm majority owned by Deutsche Bank.

Mon 18 Mar 2019

News

People Moves

Antares swoops on Channel for FI head

QIC-owned Antares has named Martin Campbell head of financial institutions, replacing Steve Redding who has left the carrier to join Nephila-backed MGA Volante.

Mon 18 Mar 2019

Preservation Capital completes MGA platform build-out

News

M&A

Preservation Capital completes MGA platform build-out

Private equity firm Preservation Capital has completed its investment in US construction-focused MGA Cove, after receiving all necessary regulatory approvals, in a move to build out an MGA platform with more than $200mn GWP.

Mon 18 Mar 2019

LSM promotes Sankey to global oil and gas head

News

Energy

LSM promotes Sankey to global oil and gas head

Liberty Specialty Markets (LSM) has promoted Paul Sankey to global head of oil and gas.

Mon 18 Mar 2019

News

Losses

Talanx Q4 profit hit by nat cat losses

German (re)insurer Talanx has reported an operating profit of Eur562mn in the fourth quarter of 2018, down over 20 percent from the Eur703mn it posted in the final three months of 2017.

Mon 18 Mar 2019

News

Markel: “We will learn” to make ILS a key results contributor

In their annual letter to shareholders, Markel’s co-CEOs have underlined their commitment to the ILS sector, despite the continuing problems at subsidiary CatCo, and said they are looking to expand third-party capital management capabilities to more risk areas than property cat.

Mon 18 Mar 2019

PE-backed quake specialist insurer Palomar files for IPO

News

Property catastrophe

PE-backed quake specialist insurer Palomar files for IPO

Expansive private equity-backed US specialty property carrier Palomar Holdings is looking to list on Nasdaq after filing for an IPO with a placeholder amount of $50mn.

Fri 15 Mar 2019