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Regulators approve RenRe’s TMR acquisition

News

M&A

Regulators approve RenRe’s TMR acquisition

RenaissanceRe Holdings has received all regulatory approvals required for its acquisition of Tokio Millennium Re.

Tue 12 Mar 2019

News

NJ takes action against Applied Underwriters amid sale reports

The New Jersey Department of Banking and Insurance has ordered Berkshire Hathaway’s Applied Underwriters to show cause why it should not be suspended from transacting workers’ compensation and employers’ liability insurance in the state.

Tue 12 Mar 2019

News

People Moves

P&C CEO Goldie to leave PartnerRe

PartnerRe has parted company with Charlie Goldie, the CEO of its property and casualty business.

Tue 12 Mar 2019

The downside of litigation: Airing dirty laundry

Comment

Legal/ Regulatory

The downside of litigation: Airing dirty laundry

This morning, The Insurer revealed that the bitter - and very personal - legal dispute between Gallagher and UK broking Group Ardonagh had finally begun.

Tue 12 Mar 2019

News

Aon’s Cochrane appointed to New Venture Group to drive IP push

Aon’s New Ventures Group (NVG) is now formally sponsoring the broker’s Intellectual Property Solutions unit as part of an initiative to grow the innovation portfolio.

Tue 12 Mar 2019

AM Best goes negative on Donegal’s A rating

News

Rating actions

AM Best goes negative on Donegal’s A rating

AM Best has revised the ratings outlooks of the Donegal Insurance Group to negative from stable after catastrophe losses and reserve increases.

Tue 12 Mar 2019

Carrier consolidation to drive further MGA and fronting growth

News

Fronting carriers

Carrier consolidation to drive further MGA and fronting growth

The carrier M&A wave will continue to fuel start-up MGAs and growth opportunities in the program fronting space, according to panelists at The Insurer’s New York Insurance Forum.

Tue 12 Mar 2019

Alesco QC: David Ross is “not a banker” as day one legal skirmishes begin

News

Legal/ Regulatory

Alesco QC: David Ross is “not a banker” as day one legal skirmishes begin

The barrister representing broker Alesco in a bitter London market poaching dispute has opened the case for the wholesaler by questioning why rival firm Ardonagh and its CEO David Ross sanctioned a loan of £625,000 to a former Alesco employee who jumped ship shortly afterwards.

Tue 12 Mar 2019

Global Aerospace wrote 17.5% of Boeing product liability slip

News

Aviation

Global Aerospace wrote 17.5% of Boeing product liability slip

Global Aerospace (GA) is the lead carrier on the product liability policy – writing 17.5 percent of the slip - that is expected to respond to claims stemming from the grounding of Boeing 737 Max 8 aircrafts in various jurisdictions, The Insurer can reveal.

Tue 12 Mar 2019

Gallagher and Ardonagh bitter dispute finally begins in UK High Court

News

Legal/ Regulatory

Gallagher and Ardonagh bitter dispute finally begins in UK High Court

The trial that few thought would ever happen has just begun between the UK subsidiary of broking heavyweight Gallagher and the private equity-owned former Towergate empire, now known as Ardonagh Group.

Tue 12 Mar 2019

ArgoGlobal appoints RSA’s Alonso EMEA CUO

News

People Moves

ArgoGlobal appoints RSA’s Alonso EMEA CUO

ArgoGlobal, the Lloyd’s insurer and part of Argo Group, has appointed Alfredo Alonso chief underwriting officer for Europe, Middle East and Asia.

Tue 12 Mar 2019

Drinker Biddle continues build out with another Carlton Fields hire

News

Legal/ Regulatory

Drinker Biddle continues build out with another Carlton Fields hire

Nationwide law firm Drinker Biddle has appointed Jason Gould class action litigator in Washington, DC.

Tue 12 Mar 2019

Commercial insurance claims inflation increased in 2018: CLIPS

News

Rates

Commercial insurance claims inflation increased in 2018: CLIPS

There was an elevated level of claims cost inflation in aggregate for 2018, with estimates above 4 percent on an earned basis, compared to below 2 percent in 2017, according to Willis Towers Watson.

Mon 11 Mar 2019

News

Flood

Flood MGA Neptune expands to six new states

All-digital online MGU Neptune Flood has added six states to its growing footprint as it continues to roll-out its platform as an alternative to the National Flood Insurance Program (NFIP).

Mon 11 Mar 2019

Swiss Re looking to build its share in harder Florida market

News

Property catastrophe

Swiss Re looking to build its share in harder Florida market

Swiss Re is being more vocal with reinsurance brokers and buyers about building its share of the Florida’s homeowners market in expectation of rate hardening at the upcoming renewal, The Insurer can reveal.

Mon 11 Mar 2019

News

German insurtech Friday secures Eur114mn of funding

Digital motor insurance company Friday has completed a round of funding, with founder The Baloise Group investing Eur75mn ($84mn) and Seven Ventures and German Media Pool investing a combined Eur39mn.

Mon 11 Mar 2019