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QBE’s Belgium hub handed A rating by AM Best

News

Brexit

QBE’s Belgium hub handed A rating by AM Best

AM Best has assigned QBE’s European hub with that all important ‘A’ financial strength rating, citing the strategic importance of the Australian carriers post-Brexit business as a major influence behind the decision.

Wed 31 Oct 2018

News

Casualty Reinsurance

AIG turns US casualty market in Q3

AIG has told its reinsurers it is successfully achieving rate increases across a giant swathe of its US casualty book in a strategy that is likely to be seen as supporting upwards pricing pressure in the broader market

Wed 31 Oct 2018

FCA to put home and motor insurers under spotlight in market study

News

Legal/ Regulatory

FCA to put home and motor insurers under spotlight in market study

The Financial Conduct Authority (FCA) has launched a market study into how general insurance firms charge their customers for home and motor insurance.

Wed 31 Oct 2018

Nephila acquisition to cost Markel $975mn

News

M&A

Nephila acquisition to cost Markel $975mn

Markel has revealed it will pay $975mn in cash for ILS manager Nephila in its third quarter results.

Wed 31 Oct 2018

RenRe underwriting remains in the red but beats estimates

News

Losses

RenRe underwriting remains in the red but beats estimates

Bermudian (re)insurer RenaissanceRe managed to exceeded the expectations of analysts to deliver an operating profit of $20.6mn in the third quarter of 2018 despite making an underwriting loss.

Wed 31 Oct 2018

Markel returns to profit in Q3 despite cat losses

News

Results

Markel returns to profit in Q3 despite cat losses

Richmond-headquartered Markel has fallen back in to the black in the third quarter, reporting a profit of $315mn.

Wed 31 Oct 2018

Global insurance M&A at highest level since the financial crisis

News

M&A

Global insurance M&A at highest level since the financial crisis

Deal value for global insurance M&A hit €37bn ($42bn) in the first six months of 2018, the highest H1 total since the financial crisis and driven by a slew of megadeals.

Wed 31 Oct 2018

News

Losses

Arch posts Q3 combined ratio of 82 percent despite $58.2mn cat losses

Bermudian blue chip Arch Capital Group Ltd estimated today it will take a $40mn-$60mn net hit from Hurricane Michael in its fourth quarter results, which it expects to cost (re)insurers $7bn-$10bn overall.

Tue 30 Oct 2018

AFG impresses analysts with record Q3 as P&C book improves

News

Results

AFG impresses analysts with record Q3 as P&C book improves

American Financial Group – the owner of Lloyd’s syndicate Neon - surpassed the expectations of analysts in the third quarter to deliver a core net operating earning of $198mn driven by an improvement in its P&C business.

Tue 30 Oct 2018

RenRe acquires $1.5bn Tokio Millennium Re

News

M&A

RenRe acquires $1.5bn Tokio Millennium Re

The carousel of M&A activity in 2018 has continued with RenaissanceRe acquiring fellow Bermudian reinsurer Tokio Millennium Re from its parent Tokio Marine Holdings for circa $1.5bn.

Tue 30 Oct 2018

AIG continues swooping for senior executives; appeals to QS reinsurers

News

People Moves

AIG continues swooping for senior executives; appeals to QS reinsurers

AIG’s appointment of Talbot CEO Peter Bilsby yesterday to a new role of global head of specialty underscores the extraordinary migration of senior industry talent that has joined the firm in the last year.

Tue 30 Oct 2018

BP Marsh ups stake in Nexus as sale is shelved

News

Results

BP Marsh ups stake in Nexus as sale is shelved

BP Marsh has increased its stake in MGA Nexus by 1.9 percent.

Tue 30 Oct 2018

Ryan Mather

Global Head of Reinsurance, Ariel Re

Tue 30 Oct 2018

Universal beats in Q3 as top line swells

News

Losses

Universal beats in Q3 as top line swells

Floridian insurer Universal has beaten the forecast of Wall Street analysts to deliver a net income of $37.4mn in the third quarter.

Tue 30 Oct 2018

News

Legal/ Regulatory

Liberty Mutual fined by FCA

The Financial Conduct Authority (FCA) has fined Liberty Mutual Insurance Europe SE £5.2mn ($6.6mn) for failures in its oversight of mobile phone insurance claims and complaints handling.

Tue 30 Oct 2018

News

Legacy

R&Q inks latest legacy acquisition with workers comp deal

London-listed R&Q has taken-over the workers compensation liabilities of a large unidentified P&C carrier.

Tue 30 Oct 2018