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Aviva’s Tulloch receives analyst nod; outlines leadership agenda

News

People Moves

Aviva’s Tulloch receives analyst nod; outlines leadership agenda

Aviva’s incoming CEO Maurice Tulloch has received the nod of approval from analysts following a “refreshing” investor briefing which saw the incumbent hint at his plans for the insurer over 2019.

Fri 8 Mar 2019

Aon’s Willis temptation a sign of structural shift in broking

News

M&A

Aon’s Willis temptation a sign of structural shift in broking

Aon may have ditched any potential plan to buy Willis but the broking market is still experiencing a structural shift in how it operates, TigerRisk president Tony Ursano commented at The Insurer’s New York Insurance Forum 2019.

Fri 8 Mar 2019

Demotech raises first event Florida reinsurance requirement to 1-in-130

News

Casualty Reinsurance

Demotech raises first event Florida reinsurance requirement to 1-in-130

Demotech has added another variable to an already complex Florida renewal by raising its requirements for reinsurance purchasing for a first event from a 100 year return period to a 130 year return period.

Fri 8 Mar 2019

Lockton goes “all in on reinsurance” with new Global Re unit

News

Casualty Reinsurance

Lockton goes “all in on reinsurance” with new Global Re unit

Lockton is looking to aggressively ramp up its reinsurance business with the launch of a new platform and the hire of a trio of Guy Carpenter executives led by Tim Gardner.

Fri 8 Mar 2019

Michael sends HCI combined ratio to 122% in Q4

News

Losses

Michael sends HCI combined ratio to 122% in Q4

Florida homeowners insurer HCI Group made a net loss of $8.5mn in the fourth quarter, compared with net income of $12.1mn in the same period of 2017.

Thu 7 Mar 2019

Nine Floridians go back to 90% cat fund participation

News

Property catastrophe

Nine Floridians go back to 90% cat fund participation

Around a third of the Florida insurers that last year participated in the state’s cat fund at the 45 percent level have elected to go back up to the 90 percent level, according to analysis of preliminary selection data by The Insurer.

Thu 7 Mar 2019

News

Gardner, Yoder and Durant leave Guy Carpenter for Lockton Re

Guy Carpenter’s CEO of North America Tim Gardner and his colleagues Claude Yoder and Nick Durant are leaving the reinsurance broker for Lockton Re, The Insurer can reveal.

Thu 7 Mar 2019

Sompo scouring the market for acquisitions: Frudd

News

M&A

Sompo scouring the market for acquisitions: Frudd

Japanese-owned Sompo International is actively seeking to engage in acquisitions this year, the carrier’s CEO Nigel Frudd has said.

Thu 7 Mar 2019

Insurance shareholder activism to rise in 2019: Ursano

News

M&A

Insurance shareholder activism to rise in 2019: Ursano

The number of activist shareholders targeting insurance companies is tipped to increase even further from the recent uptick in activity.

Thu 7 Mar 2019

Spink named Lloyd's global operations head as Dainty steps away

News

People Moves

Spink named Lloyd's global operations head as Dainty steps away

Lloyd’s Brexit programme director Hayley Spink has been named head of global operations replacing Joe Dainty who is stepping away from the Corporation.

Thu 7 Mar 2019

News

Emerging markets to drive global insurance growth: Swiss Re

Emerging market insurance premiums will more than double over the next 10 years, outpacing growth in advanced markets by four times, according to forecasts from Swiss Re.

Thu 7 Mar 2019

News

People Moves

Lockton swoops on JLT for APAC COO

Lockton has hired former JLT Thailand CEO Philip Corrigan as regional chief operations officer for Asia-Pacific (APAC) as it looks to expand its business across the region.

Thu 7 Mar 2019

Hannover Re’s Q4 profit slumps after nat cat hit

News

Losses

Hannover Re’s Q4 profit slumps after nat cat hit

German reinsurance giant Hannover Re saw group net income decline 18.4 percent to Eur334.2mn in the fourth-quarter 2018 as major catastrophe losses cost the reinsurer Eur850m.

Thu 7 Mar 2019

News

Brexit

Lloyd's Brussels gets Monaco licence for Brexit

Lloyd’s Brussels has received authorisation to underwrite insurance and reinsurance risks located in Monaco after Brexit.

Thu 7 Mar 2019

Drinker Biddle hires 17-strong rival legal team

News

Legal/ Regulatory

Drinker Biddle hires 17-strong rival legal team

Drinker Biddle & Reath LLP, the nationwide law firm that specialises in representing and defending (re)insurers, has recruited a seventeen-strong team of lawyers which includes 14 new partners from a rival firm.

Wed 6 Mar 2019

News

Glaser: Why not let Marsh pay claims?

MMC CEO Dan Glaser has predicted the industry’s future “winners” will be those companies that focus on “improving the customer experience” and added that one day he would even like to see his broking powerhouse Marsh process claims for its clients in a bid to drive greater efficiencies.

Wed 6 Mar 2019