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News

Argo adds to board

Argo Group has appointed advisory firm principal Samuel Liss and former Pool Re chairman Tony Latham as independent directors.

Wed 20 Feb 2019

PartnerRe appoints Bonneau as independent director

News

People Moves

PartnerRe appoints Bonneau as independent director

Former Chubb executive Jacques Bonneau has been added to PartnerRe’s board.

Wed 20 Feb 2019

United Fire’s progress undone by higher jury awards in “challenging quarter”

News

Results

United Fire’s progress undone by higher jury awards in “challenging quarter”

United Fire Group has reported a net loss of $29.3mn for the fourth quarter, compared to net income of $46.0mn in the same period of 2017.

Wed 20 Feb 2019

News

Losses

$300mn cat losses contribute to Alleghany Q4 earnings miss

Catastrophe losses have increased the fourth quarter combined ratio in Alleghany’s (re)insurance operations to 119.1 percent in 2018 from 89.1 percent in same period of 2017.

Wed 20 Feb 2019

News

Lefebvre and Weston working on Bermuda MGA start-up

Claude Lefebvre and Neville Weston are working together on a start-up Bermudian insurance MGA called Helix Underwriting Partners, The Insurer can reveal.

Wed 20 Feb 2019

Wildfire-struck CIG agrees sale to Auto-Owners Insurance

News

Losses

Wildfire-struck CIG agrees sale to Auto-Owners Insurance

Capital Insurance Group’s pending sale to Auto-Owners Insurance comes after a sharp decline in surplus at California-based CIG in the last two years driven by wildfire losses.

Wed 20 Feb 2019

Comment

Legal/ Regulatory

Was it all worth it?

The London insurance market is vital to both the City of London and UK plc; its direct contribution to the UK economy is estimated at 1 percent and it accounts for over 26 percent of the total contribution from the Square Mile.

Wed 20 Feb 2019

PCS to provide county-level cat loss estimates

News

Property catastrophe

PCS to provide county-level cat loss estimates

PCS will now provide county-level estimates for US catastrophe events with insured losses of at least $1bn.

Wed 20 Feb 2019

News

Allianz increases digital investment unit’s fund size to Eur1bn

Allianz X has received additional investment from its German insurer parent, increasing its fund size to Eur1bn ($1.13bn) from Eur430mn.

Wed 20 Feb 2019

News

M&A

Qatar Re paid $140mn for Markerstudy

QIC-owned Qatar Re paid almost $140mn (QR513.2mn) to acquire UK motor insurer Markerstudy last year.

Wed 20 Feb 2019

Willis Re swoops on Canopius for Asia-Pacific agriculture head

News

People Moves

Willis Re swoops on Canopius for Asia-Pacific agriculture head

Willis Re has named Canopius’ David Gregori as head of agriculture for Asia Pacific to lead the set-up of its agriculture team in the region.

Wed 20 Feb 2019

$6bn+ now written in London through broker facilities

News

Legal/ Regulatory

$6bn+ now written in London through broker facilities

£4.8bn ($6.2bn) of gross written premium in the London market is now placed through facilities operated by brokers, according to a wide-ranging study by UK regulator the Financial Conduct Authority (FCA) published today.

Wed 20 Feb 2019

News

Results

Scor P&C swings to Eur83mn Q4 loss

French reinsurer Scor fell into the red in its property and casualty business in the fourth quarter of 2018, reporting an operating loss of Eur83mn ($94.2mn).

Wed 20 Feb 2019

Scor’s Global P&C CEO Peignet retires as Conoscente takes the helm

News

Casualty Reinsurance

Scor’s Global P&C CEO Peignet retires as Conoscente takes the helm

Scor’s chief executive officer of Global P&C Victor Peignet is to retire from the French reinsurance giant with Jean-Paul Conoscente taking up the role following his departure.

Wed 20 Feb 2019

FCA probe findings evidence of broker value: Liiba’s Croft

News

Legal/ Regulatory

FCA probe findings evidence of broker value: Liiba’s Croft

The findings of the newly-released final report into the FCA’s wholesale insurance broker review has provided insurance intermediaries with a “clean bill of health”, the CEO of the London and International Insurance Brokers’ Association has said.

Wed 20 Feb 2019

Wholesale brokers in the clear following FCA probe

News

Legal/ Regulatory

Wholesale brokers in the clear following FCA probe

The Financial Conduct Authority has found no evidence of “competition concerns” following its wide-ranging study into broker activities in the London wholesale market in a massive win for market brokers.

Wed 20 Feb 2019