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News

Losses

Aon pegs nat cat insured losses at $90bn

Carriers are on the hook for $90bn for losses stemming from natural catastrophes in 2018, according to Aon.

Tue 22 Jan 2019

Analysis

Casualty

Twin speed property market as casualty contradicts: Amwins

The US property insurance market continues to operate at two speeds, with significantly harder pricing trends for accounts exposed to catastrophe risk than for those that are not, according to Amwins.

Tue 22 Jan 2019

News

Legacy

Darag snaps up Italian legacy book from Donau Versicherung

Ambitious European legacy firm Darag has agreed to purchase a portfolio of Italian non-life business from Donau Versicherung AG (Donau).

Tue 22 Jan 2019

Axis, Swiss Re, RSA and Gard on $175mn Star Centurion cover

News

Losses

Axis, Swiss Re, RSA and Gard on $175mn Star Centurion cover

Axis, Swiss Re and RSA all have significant exposure on the Gard-led hull claim for the Star Centurion vessel which collided with a tanker in the South China Sea earlier this month, The Insurer can reveal.

Mon 21 Jan 2019

Analysis

Losses

Q4 cat preannouncements continue...

As the industry gears up for the fourth quarter earnings period many carriers have prepared the market - and their investors - through a flurry of Q4 cat preannouncements, The Insurer tracks the movements.

Mon 21 Jan 2019

Germany and China agree to bolster (re)insurance ties

News

Legal/ Regulatory

Germany and China agree to bolster (re)insurance ties

Germany has signed an agreement with China designed to boost the level of understanding and cooperation between the two countries on (re)insurance business and pledged to further open market access and deepen cooperation to broaden economic ties.

Mon 21 Jan 2019

RSA hit again as Eastern Shipbuilding named $75mn total loss

News

Losses

RSA hit again as Eastern Shipbuilding named $75mn total loss

UK insurer RSA is bracing itself for another major loss as a shipyard in Panama City, Florida – which was devastated by Hurricane Michael in October – has been named a total loss, The Insurer can reveal.

Mon 21 Jan 2019

Comment

Legal/ Regulatory

CatCo: the mystery deepens…

The widespread incredulity of CatCo’s initial loss picks when it raised over $2bn in the wake of the 2017’s cat events meant not everyone was as surprised as Markel’s shareholders were when its retro fund manager subsidiary confirmed it was facing “governmental inquiries” in the US and Bermuda.

Mon 21 Jan 2019

Markel hands CATCo reins to Rhoads and Barnard

News

People Moves

Markel hands CATCo reins to Rhoads and Barnard

Markel has handed Jed Rhoads and Andrew “Barney” Barnard the reins to investment manager Markel CATCo following the shock departure of CEO Tony Belisle and Bermuda CEO Alissa Fredricks on Friday (18 January).

Mon 21 Jan 2019

News

Losses

Chubb pegs Q4 cat losses at $585mn

Insurance giant Chubb has said it expects to suffer catastrophe losses of $585mn pre-tax in the fourth quarter.

Mon 21 Jan 2019

News

Belisle and Fredricks out of Markel CatCo over personal relationship

Markel CatCo CEO Tony Belisle and Bermuda CEO Alissa Fredricks have both left the company after an internal review found the executives had violated company policies relating to an undisclosed personal relationship.

Sat 19 Jan 2019

RenRe’s Shepherd departs; linked with Arcus

News

People Moves

RenRe’s Shepherd departs; linked with Arcus

RenRe’s London-based property underwriter Alex Shepherd has left the firm and has been linked with a move to the Arcus Syndicate 1856 once his notice period is completed, The Insurer understands.

Fri 18 Jan 2019

News

Brexit

Axa XL unit completes move to Ireland ahead of Brexit

Axa XL has completed the transfer of its European insurance company, XL Insurance Company SE (XLICSE), from the UK to Dublin ahead of the UK’s exit from the EU in March 2019.

Fri 18 Jan 2019

Aspen poised to back Lodestar following RSA exit

News

Marine

Aspen poised to back Lodestar following RSA exit

Lodestar, the London-based fixed premium P&I MGA, is in advanced talks with Aspen to secure 2019 capacity following the decision by its previous backer RSA to withdraw its support, The Insurer can reveal.

Fri 18 Jan 2019

News

Brexit

North P&I Club secures Dublin nod for Brexit hub

North P&I has secured its post-Brexit trading following confirmation that its Irish subsidiary, North of England P&I DAC, has received approval as a non-life insurer from the Central Bank of Ireland.

Fri 18 Jan 2019

Beach’s Howard calls for greater underwriter oversight

News

Legal/ Regulatory

Beach’s Howard calls for greater underwriter oversight

Beach Associates CEO Jason Howard has added to the calls for greater distinction between lead and follow markets while warning (re)insurers that the continued consolidation among brokers will lead to pressure on returns.

Fri 18 Jan 2019