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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

News

Legacy

R&Q completes £107mn fundraise

London-listed Randall & Quilter Investment Holdings Ltd (R&Q) has successfully raised £107mn ($140.4mn) in a major equity fund raise to support its expansion in the legacy and program underwriting markets.

Tue 5 Mar 2019

News

ChainThat to launch blockchain-powered risk and capital exchange in Bermuda

A blockchain-powered risk and capital exchange for the re/insurance industry is set to be introduced in Bermuda later this year by ChainThat, providing access to capital markets with the use of blockchain.

Tue 5 Mar 2019

Insurance M&A forecast to slow over H1 2019

News

M&A

Insurance M&A forecast to slow over H1 2019

After a buoyant 2018 the pace of insurance M&A is set to slow in the first half of this year as political and economic uncertainty across multiple regions detracts investors, according to forecasts.

Tue 5 Mar 2019

LMA appoints finance and operations directors

News

People Moves

LMA appoints finance and operations directors

The Lloyd’s Market Association (LMA) has appointed Rob Myers as operations director and Paul Davenport as finance director.

Tue 5 Mar 2019

News

Hiscox buoyed by London market as retail arm forecast to fall at Q1: Jefferies

Lloyd’s insurer Hiscox, which recently joined the FTSE 100, is expected to report lower than expected results in Retail for the first quarter 2019 due largely to a cut back in D&O and headwinds in UK home insurance, according to equity analysts Jefferies.

Tue 5 Mar 2019

Marsh names JLT’s Howett CEO of Irish business; Grogan takes exec chair

News

M&A

Marsh names JLT’s Howett CEO of Irish business; Grogan takes exec chair

Broker Marsh has named Joe Grogan as executive chairman of Marsh Ireland and Patrick Howett, currently managing director of JLT Ireland, as CEO.

Tue 5 Mar 2019

Atlas shares slump 41% after hours on reserve charge and review

News

Commercial auto

Atlas shares slump 41% after hours on reserve charge and review

Shares in commercial auto insurer Atlas Financial collapsed in after-hours trading today after the company announced a reserve strengthening in its fourth quarter earnings driven by higher claims severity.

Tue 5 Mar 2019

Citizens looking at around $200mn risk transfer for PLA

News

Property catastrophe

Citizens looking at around $200mn risk transfer for PLA

Florida’s Citizens Property Insurance Corporation is considering buying approximately $200mn of private reinsurance for its personal lines account (PLA) this year, The Insurer can reveal.

Mon 4 Mar 2019