NewsLossesIAG aggregate cover eroded in wake of $120mn Sydney hailstorm lossesAustralian carrier IAG said claims stemming from the hailstorms across Sydney yesterday have already exceeded its maximum first event retention of A$169mn ($120.1mn) post-quota share.Fri 21 Dec 2018
NewsLossesCrum & Forster to hand $20mn PG&E loss to reinsurers: sourcesUS specialty insurer Crum & Forster is expected to hand $20mn of losses to reinsurers from its line on PG&E’s liability cover, The Insurer can reveal.Thu 20 Dec 2018
NewsMarket ModernisationLloyd’s sets out 2019 targets for PPLThe Corporation of Lloyd’s has set out its H1 2019 targets for electronic placement.Thu 20 Dec 2018
NewsLegacyCompre given greenlight for Generali legacy dealLegacy specialist Compre has been granted regulatory approval from the Institute for the Supervision of Insurance in Italy to acquire two of Generali’s legacy books.Thu 20 Dec 2018
NewsM&ANexus acquires Hiscox Global FlyingLondon-based managing general agent Nexus Group has acquired Hiscox Global Flying (HGF) for an undisclosed sum.Thu 20 Dec 2018
NewsBrexitLloyd’s names Rottiers Brussels CEOSonja Rottiers has been appointed the chief executive officer of Lloyd’s Brussels.Thu 20 Dec 2018
NewsPeople MovesMarsh unveils more post-JLT acquisition segment leadersMarsh has set-out the leaders of its UK and Ireland business following the completion of its £4.3bn acquisition of rival broking house JLT.Thu 20 Dec 2018
NewsLegacyMS&AD ups stake in Swiss Re’s closed life bookJapanese insurance giant MS&AD has invested an additional £315mn ($398.9mn) in Swiss Re’s UK closed life book consolidator – ReAssure.Thu 20 Dec 2018
NewsLossesAxis on the hook for up to $150mn for Cali wildfiresBermudian carrier Axis has said it expects to suffer pre-tax losses in the region of $125mn to $150mn for the wildfires in California. Thu 20 Dec 2018
CommentM&AGlaser rewards JLT strengths in new specialty structureSeasoned deal-makers often say the easy part of successful M&A is agreeing terms; the tough bit is execution. Wed 19 Dec 2018
NewsAviationJLT’s head of global aerospace Joe Trotti to leaveJLT’s global head of aerospace Joe Trotti has become the latest high profile departure from the UK broker ahead of the closure of its £4.3bn acquisition by MMC. Wed 19 Dec 2018
NewsD&F writers face $30mn US Ecology lossLondon underwriters are facing their share of a $30mn loss after an explosion at a hazardous waste facility in Grand View, Idaho last month, The Insurer can reveal.Wed 19 Dec 2018
NewsPeople MovesDistinguished founder Potash retakes helm as CEO departsDistinguished LLC is parting company with CEO Jeremy Hitzig and two other senior executives after founding chairman emeritus Andrew Potash decided to step back in and take the reins at the US program manager, The Insurer can reveal.Wed 19 Dec 2018
NewsMarineIG eeks out rate reductions at 2019/20 renewalThe International Group has achieved rate reductions for the fifth consecutive year on its excess of loss (XoL) reinsurance treaty.Wed 19 Dec 2018
NewsPeople MovesAlliant swoops on Willis for Bill CallahanUS specialty broking powerhouse Alliant has named William (Bill) Callahan senior vice president.Wed 19 Dec 2018
NewsCyberAIR pegs Marriott breach losses at up to $600mnRisk modelling firm AIR Worldwide has estimated cyber losses for the Marriott breach will be between $200mn and $600mn.Wed 19 Dec 2018