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CCRIF expands to Panama

The risk pooling facility Caribbean Catastrophe Risk Insurance Facility (CCRIF) has expanded its cover to Panama.

Thu 10 Jan 2019

Axa XL partners up on AI for property risk engineering

News

Property catastrophe

Axa XL partners up on AI for property risk engineering

Axa XL Risk Consulting is using Artificial Intelligence to enhance its property risk engineering capabilities.

Thu 10 Jan 2019

Hyperion earnings up 19 percent at full year

News

M&A

Hyperion earnings up 19 percent at full year

Hyperion - which owns Howden, RKH and Dual - saw profits climb by 19 percent to £181mn ($231mn) in the 12 months leading up to the end of September last year.

Thu 10 Jan 2019

Trump threatens to shut down FEMA payments for Cali wildfire victims

News

Legal/ Regulatory

Trump threatens to shut down FEMA payments for Cali wildfire victims

The US President has revived his threats to cut off federal funds for victims of the wildfires which ravaged regions across the state of California in November in his latest tweet.

Thu 10 Jan 2019

Motor pricing and claims costs lead to Direct Line earnings pressure in 2019

News

Results

Motor pricing and claims costs lead to Direct Line earnings pressure in 2019

Direct Line Group faces margin compression over 2019 as weak motor pricing and increased claims costs in 2018 point to challenging conditions for the insurer, according to Numis Securities.

Thu 10 Jan 2019

R&Q bolsters position in captive market with two further transactions

News

Legacy

R&Q bolsters position in captive market with two further transactions

London-listed Randall Quilter Investment Holdings (R&Q) has unveiled two new program underwriting transactions with agreements to use its A- rated carrier in the US and its Bermuda subsidiary.

Thu 10 Jan 2019

News

M&A

Hyperion founder: “We will never sell”

Major new strategic initiative agreed with PE backers at industry’s soon-to-be largest non-US intermediary

Wed 9 Jan 2019

AmTrust confirms post take-private deal exits and new leadership

News

People Moves

AmTrust confirms post take-private deal exits and new leadership

AmTrust has set out its leadership team following the completion of its $2.95bn take-private deal with private equity firm Stone Point.

Wed 9 Jan 2019

News

Beazley targets financial lines growth in Asia with Pegasus partnership

London carrier Beazley is expanding its insurance offering in Asian markets through a new financial lines capacity arrangement with Hong Kong-based coverholder Pegasus Underwriting.

Wed 9 Jan 2019

MMC issues $5bn debt to finance JLT deal

News

Results

MMC issues $5bn debt to finance JLT deal

MMC will shortly issue $5bn of senior debt that will ensure the New York-headquartered firm doesn’t require a more expensive bridging loan to fund its $5.6bn JLT acquisition.

Wed 9 Jan 2019

News

Argo renews collateralized sidecar Harambee Re for 2019

Bermudian carrier Argo has renewed its sidecar reinsurer Harambee Re for 2019.

Wed 9 Jan 2019

News

Cyber

CFC adds business interruption to cyber offering

CFC has introduced business interruption to its cyber insurance coverage and expanded cover for a variety of cyber crime activities including cryptojacking.

Wed 9 Jan 2019

News

Losses

Nat cat insured losses hit $80bn in 2018: Munich Re

Carriers are on the hook for $80bn for losses stemming from natural catastrophes in 2018, according to Munich Re.

Tue 8 Jan 2019

News

Swiss Re launches parametric water-level insurance

Swiss Re Corporate Solutions has launched a parametric water-level insurance for companies in Europe exposed to high or low water levels.

Tue 8 Jan 2019

Talanx and Hannover Re’s new EUR1bn European carrier goes live

News

Specialty

Talanx and Hannover Re’s new EUR1bn European carrier goes live

HDI Global Specialty SE – a new specialty commercial insurer has launched with EUR1bn ($1.2bn) of premium.

Tue 8 Jan 2019

News

Neon renews $77mn ILS vehicle NCM Re

Neon has renewed the UK’s first ILS vehicle - NCM Re – raising third party capital to support its second ILS transaction through the transformer vehicle.

Tue 8 Jan 2019