Interview: Igor Best-Devereux, eReinsure

Fri 1 Feb 2019

Improved underwriting results help Selective to earnings beat

Selective generated a 41 percent increase in operating profits to $72.0mn for the fourth quarter as it comfortably outpaced Wall Street earnings forecasts.

Fri 1 Feb 2019

QBE Seguros downgraded to B++ ahead of sale

AM Best has downgraded the financial strength ratings of Puerto Rican carrier QBE Seguros from A- to B++ after its global insurer parent agreed a deal to sell the subsidiary to Rincon Investment.

Thu 31 Jan 2019

Gallagher reports 5.8% organic growth in Q4

Gallagher was the second broking giant today to report strong fourth quarter organic growth as it said top line in its brokerage and risk management segments was up by 5.8 percent on an underlying basis.

Thu 31 Jan 2019

Shares in Maiden up 12% after AmTrust QS terminated

Shares in Maiden Holdings were trading up 12 percent in New York this afternoon after the reinsurer revealed it had terminated quota share agreements with AmTrust in a move that had helped cure its recent breach of Bermuda capital requirements.

Thu 31 Jan 2019

Munich Re in US casualty retrenchment

Munich Re has significantly reduced its appetite for segments of US commercial casualty risk amid concerns over claims activity and loss trends that are continuing to outpace rates, The Insurer can reveal.

Thu 31 Jan 2019

MMC shares up 5% after strong Q4

MMC’s share price closed up 5.3 percent after the firm reported that its risk and insurance services (RIS) operation produced underlying, or organic revenue growth of 6 percent in the fourth quarter along with margin expansion.

Thu 31 Jan 2019

Zurich taps Chubb for A&H head Jaksic

Zurich has appointed Drazen Jaksic head of accident and health underwriting within its commercial insurance business.

Thu 31 Jan 2019

Lloyd’s reveals plan to update TPA oversight

Lloyd’s has revealed plans to update its oversight of third-parties by implementing a new risk-based approach, streamlining procedures and tightening the controls on claims administrators.

Thu 31 Jan 2019

StarStone offloads MGA Malakite and airline business

StarStone has entered an agreement with Eelseco - the space, aviation and energy underwriting platform – to sell its MGA Malakite and Zurich-based airlines and products portfolio.

Thu 31 Jan 2019

Meyenhofer leaves Aon Bermuda after three months

Aon Reinsurance Solutions Bermuda CEO Matthias Meyenhofer has resigned from the broker, The Insurer can reveal.

Thu 31 Jan 2019

PRA orders Lloyd’s and UK insurers to develop silent cyber action plan

UK insurers have been instructed by the Prudential Regulation Authority (PRA) to develop detailed plans setting out how they are reducing their exposures to so-called silent cyber losses.

Thu 31 Jan 2019

Perils pegs Sydney hailstorm losses at A$635mn

Loss aggregation firm Perils has pegged insured property losses stemming from the Sydney hailstorms in December at A$635mn ($461.8mn).

Thu 31 Jan 2019

AFG misses as annuity and P&C underwriting profits dip

American Financial Group reported operating profits that missed Wall Street forecasts as they fell primarily on a drop in earnings in the company’s annuity segment, but also on the back of lower P&C underwriting income.

Thu 31 Jan 2019

Sompo launches parametric crop cover with German carrier

Sompo International has teamed up with German insurer SV SparkassenVersicherung to launch a parametric cover against crop losses such as drought, heavy frost or long spells of wet weather.

Wed 30 Jan 2019

The Hanover beats on earnings and sees 6.1% commercial rate raises

US insurer The Hanover edged to an earnings beat for the fourth quarter and pointed to continued price increases across its portfolio, including a 6.1 percent uplift in core commercial lines rates.

Wed 30 Jan 2019