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Losses

Chubb pegs Michael losses at top end of estimates; expects wildfire losses up to $225mn

Insurance giant Chubb has said it expects Hurricane Michael – which slammed into the US Gulf coast in October – to result in a cat bill of up to $250mn.

Tue 4 Dec 2018

High Court approves RSA’s Part VII transfer

News

Brexit

High Court approves RSA’s Part VII transfer

The High Court of England and Wales has given UK insurer RSA the green light for its Part VII transfer.

Tue 4 Dec 2018

News

Lloyd’s in search of next cohort of InsurTech start-ups

Lloyd’s Lab - the innovator accelerator launched by the Lloyd’s market last September – has launched a global search for the next cohort of InsurTech innovators.

Tue 4 Dec 2018

Barbican takes CNA Hardy’s former property treaty underwriter Watson

News

People Moves

Barbican takes CNA Hardy’s former property treaty underwriter Watson

Lloyd’s insurer Barbican has appointed Emma Watson class underwriter for property treaty.

Tue 4 Dec 2018

AIG’s post-Brexit unit given stable outlook by AM Best

News

Rating actions

AIG’s post-Brexit unit given stable outlook by AM Best

AIG UK has been assigned a stable outlook by ratings agency AM Best.

Tue 4 Dec 2018

Comment

Welcome to The Insurer…

The (re)insurance industry was the first information age business. After all, Lloyd’s itself was established more than three-hundred years ago in a London coffee house where news and information could be shared among underwriters.

Mon 3 Dec 2018

News

RSG units hires Ironshore program casualty executive

WKFC Underwriting Managers and CorRisk Solutions, subsidiaries of Ryan Specialty Group (RSG) that specialise in operating programs, have hired Joseph Girardi, a casualty expert from Ironshore Insurance Services.

Mon 3 Dec 2018

Comment

The storm before the calm…

The Insurer was in Bermuda last week and the weather was a perfect metaphor for the mood among (re)insurers.

Mon 3 Dec 2018

News

Heaney steps down from SSL Endeavour

Quintin Heaney, the experienced London market broking CFO, is leaving the JC Flowers-owned broking consolidation vehicle SSL Endeavour, The Insurer can reveal.

Mon 3 Dec 2018

News

Cyber

Marriott to rival Merck as largest-ever affirmative cyber loss

Property Claim Services (PCS) has designated the Marriott cyber hack as a designated event amidst speculation that the hotel group’s cyber coverage could be in the region of $300mn.

Mon 3 Dec 2018

News

WTW demonstrates PPL credentials ahead of 2019 broker league table

Willis Towers Watson (WTW) has backed up its reputation as a London market “good citizen” by publishing data showing its own usage of the e-placement platform, PPL, in the third quarter.

Mon 3 Dec 2018

Analysis

Cali wildfire disclosures, data now pointing to circa $15bn loss

2018 now appears odds on to have exceeded last year in terms of insured losses from the California wildfires following a series of disclosures and loss estimates late last week.

Mon 3 Dec 2018

News

Losses

AIR pegs Woolsey Wildfire insured losses at $2.5bn

Catastrophe risk modelling firm AIR Worldwide has estimated insured losses from the Woolsey Fire in Southern California will be at least $2.5bn.

Fri 30 Nov 2018

Labuan Re reassures after AM Best outlook downgrade; cuts back at Lloyd’s

News

Rating actions

Labuan Re reassures after AM Best outlook downgrade; cuts back at Lloyd’s

Malaysian reinsurer Labuan Re has written to its markets today reassuring them of its “strong fundamentals” following AM Best’s decision to reduce its outlook on its A- financial strength rating on the carrier from stable to negative.

Fri 30 Nov 2018

News

Macey exits Tysers following Integro sale

Jonathan Macey, managing director of Tysers’ marine division and one of the broker’s largest shareholders before its recent £110mn sale, has left the company merely months after the drawn-out acquisition completed, Re-Insurance can reveal.

Fri 30 Nov 2018