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AM Best affirms R&Q’s subsidaries A- rating

News

Rating actions

AM Best affirms R&Q’s subsidaries A- rating

Ratings agency AM Best has affirmed the long-term issuer credit rating of “A-” of R&Q’s subsidiaries Accredited Surety and Casualty Company and Accredited Insurance Europe.

Wed 13 Feb 2019

Hannover Re’s US insurance platform gets A+ rating

News

Rating actions

Hannover Re’s US insurance platform gets A+ rating

Hannover Re’s new US admitted insurance platform Glencar Insurance Company (GIC) has been assigned an A+ rating by AM Best.

Wed 13 Feb 2019

News

Inshur raises $7mn in Munich Re-led Series A funding

Commercial auto insurtech venture Inshur has closed a Series A investment round, securing $7mn in equity funding and a further $2mn credit facility.

Wed 13 Feb 2019

Scor’s Kessler nips PartnerRe rumours in the bud

News

M&A

Scor’s Kessler nips PartnerRe rumours in the bud

Scor’s CEO Denis Kessler has reaffirmed that the French reinsurance giant never considered or entered into discussions with Bermudian reinsurer PartnerRe regarding a potential merger deal.

Wed 13 Feb 2019

Pioneer expands cargo team with Pembroke’s Corton

News

Marine

Pioneer expands cargo team with Pembroke’s Corton

Pioneer Underwriters has appointed Andrew Corton as a project cargo underwriter in its marine team.

Wed 13 Feb 2019

Brown & Brown acquires Pennsylvania’s Smith Insurance Associates

News

M&A

Brown & Brown acquires Pennsylvania’s Smith Insurance Associates

Expansive US broker Brown & Brown has continued on its acquisition streak with the takeover of family-owned Smith Insurance Associates through its subsidiary Brown & Brown Metro.

Wed 13 Feb 2019

Assurant beats despite higher reinsurance costs

News

Results

Assurant beats despite higher reinsurance costs

Assurant delivered a solid earnings beat in a fourth quarter that included a higher burden of catastrophe losses.

Wed 13 Feb 2019

Arch beats with top and bottom line growth

News

Results

Arch beats with top and bottom line growth

Arch shook off cat losses to deliver a small increase in operating earnings coupled with top line growth in a quarter lifted by significantly higher underwriting income from its mortgage arm.

Wed 13 Feb 2019

News

M&A

US Risk to retain brand after USI takeout

US Risk has confirmed it has agreed to be bought by retail broker USI Insurance Services in a deal expected to close in Q2 this year.

Tue 12 Feb 2019

News

M&A

USI set to unveil US Risk acquisition

Retail broking giant USI Insurance Services is set to announce it has agreed a deal to buy wholesaler US Risk, The Insurer can reveal.

Tue 12 Feb 2019

News

Ryan adds International Specialty Insurance Services to MGU platform

Ryan Specialty Group (RSG) has added to its underwriting platform with a deal to buy high-value disability (HVD) specialist International Specialty Insurance Services (ISI).

Tue 12 Feb 2019

News

Aspen replaces RSA as Lodestar Marine backer

Aspen has confirmed it has replaced RSA as the capacity provider to Lodestar, the London-based fixed premium P&I MGA.

Tue 12 Feb 2019

What lessons can we learn from Pool Re on closing the protection gap?

Comment

Political risk

What lessons can we learn from Pool Re on closing the protection gap?

Earlier today, the UK government announced that Royal Assent* had been granted to the Counter-Terrorism and Border Security Bill 2018.

Tue 12 Feb 2019

News

People Moves

Axa XL to slash workforce in Europe

Axa XL has set out plans to cut 711 positions from its European workforce, 7.5 percent of its global headcount.

Tue 12 Feb 2019

News

Marine

RSA marine underwriter Peers joins TT Club

Andrew Peers has been appointed senior underwriter in TT Club’s UK, Benelux and Nordic underwriting team.

Tue 12 Feb 2019

SSL Endeavour’s Spicer steps down as Allen departs

News

People Moves

SSL Endeavour’s Spicer steps down as Allen departs

Broking house SSL Endeavour has made a wave of changes to its leadership team, with newly-appointed Endeavour CEO Karen Allen leaving the firm and SSL Insurance CEO Roger Spicer stepping down to become marine business development director.

Tue 12 Feb 2019