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News

ConsiliumRe targets LatAm expansion with Miami hub

Specialist reinsurance broker ConsiliumRe is to launch operations in Miami in a move to expand its offering to the Latin American market.

Thu 17 Jan 2019

Maiden hands European automotive group to Allianz

News

M&A

Maiden hands European automotive group to Allianz

NASDAQ-listed Maiden Holdings has sold its European automotive group to Allianz Partners for an undisclosed sum.

Thu 17 Jan 2019

Mercer's Ferland promoted to CEO, Portalatin named MMC vice chair

News

People Moves

Mercer's Ferland promoted to CEO, Portalatin named MMC vice chair

Marsh & McLennan Companies has named Martine Ferland president and chief executive officer of its investment consultancy arm Mercer, effective 1 March 2019.

Thu 17 Jan 2019

Perils pegs final Friederike loss at Eur1.67bn

News

Losses

Perils pegs final Friederike loss at Eur1.67bn

Loss aggregation firm Perils has pegged insured losses stemming from for Extratropical Cyclone Friederike - also known as David – at Eur1.67bn ($1.91bn).

Thu 17 Jan 2019

News

The Hanover hires Mills to lead new E&S offering

US insurer The Hanover Insurance Group has hired Steve Mills from IFG Companies to spearhead a new excess and surplus lines (E&S) offering to brokers, The Insurer can reveal.

Wed 16 Jan 2019

P&C insurers report $4.7bn underwriting gain over 2018

News

Casualty

P&C insurers report $4.7bn underwriting gain over 2018

Private US property and casualty insurers reported a $4.7bn net underwriting gain in the nine-months to September 2018, a sharp turnaround from a $21bn underwriting loss a year earlier, according to Verisk.

Wed 16 Jan 2019

News

Brexit

Brexit: London maintained Extremus participations at 1.1

Almost every Lloyd’s and London market participant on the Eur2.5bn reinsurance treaty for the German terror pool Extremus Versicherung maintained their participations at 1.1 despite the uncertainty over Brexit.

Wed 16 Jan 2019

Geopolitical tensions hampering ability to tackle global risks: WEF

News

Losses

Geopolitical tensions hampering ability to tackle global risks: WEF

Political confrontations between major powers is hindering solutions to challenges like climate change, financial crises and cyberattacks, a new report by the World Economic Forum (WEF) said today (16 January).

Wed 16 Jan 2019

News

Losses

Willis Re pegs nat cat insured losses at $71.5bn

Carriers are on the hook for a $71.5bn 2018 nat cat bill, Willis Re has said.

Wed 16 Jan 2019

News

Legal/ Regulatory

Markel CatCo shareholders file lawsuit

Investors in shares of Markel CatCo have filed a lawsuit in the US district court for the Southern District of New York over allegedly false and misleading statements being made by the carrier over reserves.

Wed 16 Jan 2019

News

Losses

The Hanover pegs Q4 losses at $50mn

The Hanover has said it expects to pick up a pre-tax cat bill of $50mn in the fourth quarter of 2018.

Wed 16 Jan 2019

AIG adds former CNA CEO Motamed to board

News

People Moves

AIG adds former CNA CEO Motamed to board

AIG has appointed Thomas “Tom” Firouz Motamed as a director to its board of directors.

Wed 16 Jan 2019

MIB secures £400mn treaty for motor terrorism cover

News

War and terrorism

MIB secures £400mn treaty for motor terrorism cover

The UK’s Motor Insurers’ Bureau (MIB) has successfully completed its inaugural placement of its £400mn ($514mn) treaty for motor terrorism coverage, The Insurer can reveal.

Tue 15 Jan 2019

News

People Moves

Hiscox Re's Lazarus departs

Hiscox Re’s senior non-marine treaty underwriter Nick Lazarus has resigned from the firm, The Insurer can reveal.

Tue 15 Jan 2019

News

AIG completes giant casualty treaty; Swiss Re leads

AIG got its new core US casualty quota share home at around the targeted 50 percent placement level it had targeted after securing widespread support from major reinsurers including heavyweights Swiss Re and Munich Re, The Insurer can reveal.

Tue 15 Jan 2019

News

PG&E bankruptcy filing will not slow claims payments: commissioner

California insurance commissioner Ricardo Lara has told insurers they are expected to continue to pay claims “fairly and in a timely manner,” following news that utility firm PG&E plans to file for bankruptcy.

Tue 15 Jan 2019