Search | The Insurer TV

News

Brown & Brown snaps up real estate broker Pipino

Acquisitive US broker Brown & Brown has bought certain assets of retail broker Donald P Pipino Company (DPC).

Sat 16 Feb 2019

News

M&A

Altamont in exclusive talks to buy Topa

Topa Insurance Group has entered into exclusive talks with potential buyer Altamont Capital as the Californian carrier moves closer to a sale, The Insurer can reveal.

Fri 15 Feb 2019

News

Casualty

AM Best downgrades Allied World issuer credit on casualty erosion

Concerns over the “very competitive” commercial casualty market have prompted AM Best to downgrade the credit rating of Fairfax Financial subsidiary Allied World Assurance Company.

Fri 15 Feb 2019

News

The Hanover joins RSA’s global network

The Hanover Insurance Group has expanded its international specialty capabilities by agreeing to join the RSA Global Network as a US strategic network partner.

Fri 15 Feb 2019

AM Best says Sirius rating unaffected by parent’s reported liquidity problems

News

Rating actions

AM Best says Sirius rating unaffected by parent’s reported liquidity problems

The rating of New York-listed Bermudian (re)insurer Sirius has been left unchanged by AM Best, despite a reported missed bond payment and liquidity issues at its ultimate parent, China Minsheng Investment Group (CMIG).

Fri 15 Feb 2019

Suncorp to buy additional A$200mn natural perils cover

News

Losses

Suncorp to buy additional A$200mn natural perils cover

Suncop will buy an additional A$200mn ($143mn) in natural perils reinsurance cover at its 1 July 2019 renewal as it looks for further protection around its main cat and aggregate structures after blowing its budget for losses.

Fri 15 Feb 2019

ILS scepticism growing as 20% of third-party capital remains trapped: AM Best

Analysis

Losses

ILS scepticism growing as 20% of third-party capital remains trapped: AM Best

ILS fund managers are for the first time struggling to attract new investors and retain existing ones. A new AM Best reinsurance report reveals 20 percent of the 2018 total third-party capital is trapped in the funds, which is making third-party investors sceptical about the market.

Fri 15 Feb 2019

AM Best goes negative on Universal North America

News

Rating actions

AM Best goes negative on Universal North America

AM Best has lowered its outlook on Universal North America Insurance Company (UNA) from stable to negative on recent hurricane experience and underlying results deterioration driven by wildfires.

Fri 15 Feb 2019

AmTrust to become “significant minority” Canopius shareholder

News

M&A

AmTrust to become “significant minority” Canopius shareholder

AmTrust will become a “significant minority” shareholder in the PE-backed Lloyd’s insurer Canopius if it completes the sale of its Lloyd’s arm.

Fri 15 Feb 2019

Apollo’s $2.6bn take-over of Aspen completes

News

M&A

Apollo’s $2.6bn take-over of Aspen completes

Alternative investment heavyweight Apollo Global Management has cleared the final hurdle in its $2.6bn takeover of Bermudian carrier Aspen.

Fri 15 Feb 2019

News

M&A

RSG swoops on Texan broker Myron Steves

Ryan Specialty Group has snapped up Myron F. Steves & Company (Myron Steves), an independently owned wholesale insurance brokerage headquartered in Houston, Texas.

Fri 15 Feb 2019

News

Legacy

Enstar snaps up AmTrust RITCs

Bermudian Enstar has entered into reinsurance-to-close transactions with four of AmTrust’s Lloyd’s syndicates.

Fri 15 Feb 2019

TMK's flagship syndicate facing 2017 loss of up to £165mn

News

Losses

TMK's flagship syndicate facing 2017 loss of up to £165mn

Tokio Marine Kiln has said that its flagship Lloyd’s syndicate 510 is expecting the return on its £1.13bn capacity to run to a loss of between 9.6 percent and 14.6 percent for 2017 year of account.

Fri 15 Feb 2019

Brit falls to $166.5mn loss as nat cats bite

News

Results

Brit falls to $166.5mn loss as nat cats bite

Fairfax-owned Lloyd’s insurer Brit suffered a $166.5mn after-tax loss in 2018 as a result of major catastrophe losses such as the California wildfires and Hurricane Michael.

Fri 15 Feb 2019

Allianz's P&C unit grows top and bottom line in Q4

News

Results

Allianz's P&C unit grows top and bottom line in Q4

German insurance powerhouse Allianz delivered an operating profit of Eur1.5bn ($1.69bn) in its property and casualty business in the fourth quarter of 2018, which was coupled with top line growth in the segment.

Fri 15 Feb 2019

California considers disaster response insurance

News

Losses

California considers disaster response insurance

California’s insurance commissioner Ricardo Lara is behind a proposal that could see the wildfire-ravaged state buy insurance to pay for disaster response costs related to catastrophic events.

Fri 15 Feb 2019