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Catlin: Lloyd’s “best opportunity” for years to reform

Stephen Catlin, the founder of soon-to-be launched $3bn greenfield (re)insurer Convex Group, says Lloyd’s now has in place a management team to lead a restructuring of the market and ensure “it is still relevant in ten years time”.

Wed 6 Mar 2019

Comment

Political risk

Pool Re’s evolution continues…

There were at least three reasons to welcome the UK Security Minister’s announcement earlier today that British anti-terrorism agencies are partnering with Pool Re to build a new public information exchange, funded by the country’s insurers.

Wed 6 Mar 2019

News

Catlin finally unveils $3bn (re)insurance start-up Convex

Industry entrepreneur Stephen Catlin has finally unveiled his soon-to-launched $3bn greenfield (re)insurer Convex Group while speaking today at The Insurer’s New York event.

Wed 6 Mar 2019

20-30 large global (re)insurers will soon control the industry: Ursano

News

M&A

20-30 large global (re)insurers will soon control the industry: Ursano

TigerRisk president Tony Ursano predicts rapid (re)insurance M&A will continue in 2019, and believes the industry is rapidly heading to a situation where a relatively small number of companies may soon dominate the global landscape.

Wed 6 Mar 2019

UK Security Minister unveils new £10mn public-private terrorism partnership

News

Legal/ Regulatory

UK Security Minister unveils new £10mn public-private terrorism partnership

The UK’s Minister of State for Security in the Home Office Ben Wallace has unveiled a new national security public-partnership initiative backed by Pool Re, the terrorism mutual funded by the UK insurance industry.

Wed 6 Mar 2019

Carriers increased information requests as prices hardened in Q4: CIAB

News

Rates

Carriers increased information requests as prices hardened in Q4: CIAB

The Council of Insurance Agents & Brokers has reported all US lines reported slight to moderate premium price increases in the fourth quarter except workers’ compensation, cyber and terrorism.

Wed 6 Mar 2019

Tokio Marine HCC names Schell president as Burke steps down

News

People Moves

Tokio Marine HCC names Schell president as Burke steps down

Tokio Marine HCC has named Michael Schell as president replacing William Burke who is retiring.

Wed 6 Mar 2019

Comment

The shortest M&A saga in history?

News this morning that Aon is not after all going to pursue a transaction with Willis Towers Watson may rank as the shortest M&A saga in history.

Wed 6 Mar 2019

News

Aon pulls out of potential Willis deal

Aon has pulled out of a potential Willis Towers Watson deal less than 24 hours after reports first surfaced that it was weighing a bid for its rival.

Wed 6 Mar 2019

Hannover Re’s Sehm succeeds Gräber on executive board

News

People Moves

Hannover Re’s Sehm succeeds Gräber on executive board

Hannover Re has appointed Silke Sehm to its executive board with oversight of French-speaking and Nordic markets in Europe as well as Central and Eastern Europe and catastrophe business.

Wed 6 Mar 2019

News

Argo joins GBN partnership to boost market access

Bermudian carrier Argo has become a member of (re)insurance industry network GBN to expand its distribution and enable shared access to products and expertise in 140 countries.

Wed 6 Mar 2019

Aon shares tumble as Willis climbs 5% on back of merger talks

News

M&A

Aon shares tumble as Willis climbs 5% on back of merger talks

Shares in Aon tumbled 7.8 percent on Tuesday (05 March) following news that the broking giant was considering a swoop for rival broking house Willis Towers Watson.

Wed 6 Mar 2019

Real-time techniques would improve wildfire modelling: Swiss Re

News

Losses

Real-time techniques would improve wildfire modelling: Swiss Re

A new Swiss Re report says the industry’s higher exposure to Canada wildfires has not been accurately reflected in risk models and events such as 2016’s Fort McMurray C$3.8bn insured loss are increasingly likely.

Wed 6 Mar 2019

News

Aon confirms it is considering deal for Willis Towers Watson

Aon has confirmed it is in the “early stages” of evaluating a potential transaction for fellow broking giant Willis Towers Watson.

Tue 5 Mar 2019

News

Aon in talks to buy Willis: reports

Aon is preparing to table a bid to takeover rival broking house Willis Towers Watson, in a deal that has the potential to be the industry’s largest ever acquisition.

Tue 5 Mar 2019

Berkshire Hathaway forms Irish insurer ahead of Brexit

News

Legal/ Regulatory

Berkshire Hathaway forms Irish insurer ahead of Brexit

Berkshire Hathaway European Insurance (BHEI) has been granted a certificate of authorisation by the Central Bank of Ireland to operate as an insurer in Ireland and the European Economic Area (EEA).

Tue 5 Mar 2019