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R&Q inks NNIS deal in swoop for Dutch aviation liabilities

News

Legacy

R&Q inks NNIS deal in swoop for Dutch aviation liabilities

London-listed Randall & Quilter Investment Holdings has acquired the residual liabilities from UK based Nationale-Nederlanden Internationale Schadeverzekering (NNIS) from NN Group.

Mon 4 Mar 2019

Enstar and Maiden replace LPT deal with $675mn ADC

News

Legacy

Enstar and Maiden replace LPT deal with $675mn ADC

The giant loss portfolio transfer (LPT) deal under which Enstar would have assumed $2.675bn of loss reserves associated with Maiden Re’s quota share of AmTrust has been canceled and replaced with a $675mn adverse development cover (ADC).

Sat 2 Mar 2019

News

Losses

Heritage swings to Q4 profit despite higher cat losses

Florida-based insurer Heritage reported net income of $3.9mn for the fourth quarter, compared with a $5.0mn loss in the same period of 2017.

Sat 2 Mar 2019

News

Markel reveals potential $250mn CatCo exposure in 2019

Markel has confirmed it is the US Department of Justice, the US Securities and Exchange Commission and the Bermuda Monetary Authority that are investigating CatCo’s loss reserves, and revealed it has exposure to reinsurance contracts it entered into on behalf of the ILS fund.

Fri 1 Mar 2019

News

Universal shares slump 20% as Irma and older years creep

Shares in Universal Insurance Holdings slumped 20 percent in trading this morning as investors digested a hefty Q4 reserve charge from the Floridian related to creep from Irma and other prior-year cat losses as well as attritional loss deterioration.

Fri 1 Mar 2019

Arch creates new role for Rippert, shuffles mortgage management

News

People Moves

Arch creates new role for Rippert, shuffles mortgage management

Andrew Rippert has been appointed chief innovation and strategic investment officer of Arch Capital, reporting to CEO Marc Grandisson.

Fri 1 Mar 2019

Why two fired CatCo executives believe Markel owes them $70mn

Analysis

Legal/ Regulatory

Why two fired CatCo executives believe Markel owes them $70mn

Tony Belisle and Alissa Fredricks last week sued Markel for incentive payments, saying they were wrongfully dismissed and the US insurer used unlawful means to uncover their personal relationship. The Insurer takes a closer look at their complaints.

Fri 1 Mar 2019

State Farm returns to underwriting profit on lower cats

News

Results

State Farm returns to underwriting profit on lower cats

State Farm made an underwriting profit in its property casualty business in 2018 as cat losses came in below the level seen in the prior-year.

Fri 1 Mar 2019

Aspen’s AM Best ratings back to stable after Apollo takeover

News

Rating actions

Aspen’s AM Best ratings back to stable after Apollo takeover

AM Best has removed from under review with developing implications and affirmed Aspen’s A financial strength ratings.

Fri 1 Mar 2019

London broker titans McGill and Lloyd mull return together

News

People Moves

London broker titans McGill and Lloyd mull return together

- Recently acquired JLT likely recruiting zone - Linked with PE firms- Buy or Build dilemma?

Fri 1 Mar 2019

Maiden’s credit rating withdrawn by AM Best

News

Rating actions

Maiden’s credit rating withdrawn by AM Best

AM Best has withdrawn the financial strength rating of Maiden Reinsurance North America following its sale to Enstar.

Fri 1 Mar 2019

News

Retro

Pool Re confirms £2.3bn terrorism retro placement

Britain’s state-backed terrorism reinsurer Pool Re has confirmed it has completed placement of its Munich Re- led £2.3bn retro programme, as first revealed by The Insurer.

Fri 1 Mar 2019

News

UnipolSai launches Eur45mn Atmos Re cat bond

Italian insurance giant UnipolSai Assicurazioni has placed a Eur45mn catastrophe bond, Atmos Re DAC, covering against severe weather-related perils in Italy.

Fri 1 Mar 2019

News

Losses

PG&E equipment likely led to $1.4bn Camp Fire losses

Bankrupt Californian utility firm PG&E has edged closer to admitting responsibility for the deadly Camp Fire in November, acknowledging it was “probable” its equipment initially ignited the blaze.

Fri 1 Mar 2019

FedNat maintains FHCF participation at 75 percent

News

Property catastrophe

FedNat maintains FHCF participation at 75 percent

FedNat’s two Florida operating subsidiaries have both elected to maintain their current 75 percent participation in the state’s cat fund for the 2019 hurricane season.

Fri 1 Mar 2019

News

Cyber is logical use of ILS: Duperreault

The ILS market is a logical source of capacity to address the transfer of cyber risk, according to AIG CEO Brian Duperreault.

Thu 28 Feb 2019