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Markel takes Beazley’s Lam in Singapore

Markel has hired Beazley’s underwriting manager Gordon Lam in Singapore.

Thu 23 Aug 2018

Icat’s Lloyd’s business to become Beat Syndicate 4242 after merger

News

M&A

Icat’s Lloyd’s business to become Beat Syndicate 4242 after merger

Icat owner Paraline has merged with venture capital firm Beat Partners in a deal that will see the recently launched investment house takeover Syndicate 4242, it was announced today.

Thu 23 Aug 2018

Ardonagh issues fresh debt as H1 losses narrow

News

Results

Ardonagh issues fresh debt as H1 losses narrow

The loss-making Ardonagh Group issued a £98.5mn bond to settle its bank overdraft facilities and provide new M&A “firepower”, while its pre-tax losses fell to £38.2mn in the first half of 2018, down from £60.3mn this time last year.

Thu 23 Aug 2018

State Farm and Heritage control storm-warned Hawaii’s homeowner market

News

Losses

State Farm and Heritage control storm-warned Hawaii’s homeowner market

US giant State Farm dominates almost a third of the $383.6mn homeowner’s market in Hawaii, which stands in the path of Category 3 Hurricane Lane.

Thu 23 Aug 2018

Hurricane Lane threatens to wreak $8bn of damage in Hawaii

News

Losses

Hurricane Lane threatens to wreak $8bn of damage in Hawaii

Hurricane Lane, the Category 4 storm that is bearing down on Hawaii, threatens almost 50,000 homes with a reconstruction cost of around $8bn, according to analysis from CoreLogic.

Thu 23 Aug 2018

Navigators faces break fee of up to $68.3mn if rival bid emerges

News

Results

Navigators faces break fee of up to $68.3mn if rival bid emerges

Navigators will be on the hook to pay The Hartford a break fee of up to $68.2mn should the US specialty carrier receive a rival bid.

Wed 22 Aug 2018

Hawaii braced for category 5 Hurricane Lane

News

Losses

Hawaii braced for category 5 Hurricane Lane

Hawaii is bracing for Hurricane Lane, a Category 5 hurricane that is on course to skirt the Aloha State later this week.

Wed 22 Aug 2018

The Hartford the latest to tap into Lloyd’s with Navigators acquisition

Analysis

M&A

The Hartford the latest to tap into Lloyd’s with Navigators acquisition

With the news this morning that The Hartford has inked a deal to acquire Navigators, another Lloyd’s business could find itself in the hands of an international insurance giant.

Wed 22 Aug 2018

Navigators buy would expand The Hartford’s geographic reach

News

M&A

Navigators buy would expand The Hartford’s geographic reach

The Hartford’s $2.1bn deal to acquire specialty player Navigators would significantly expand the Connecticut-based personal and commercial lines giant’s geographic footprint beyond its US heartland.

Wed 22 Aug 2018

Investors send Navigators stock just above The Hartford’s $70 bid

News

Results

Investors send Navigators stock just above The Hartford’s $70 bid

Investors appear to have faith that Navigators CEO Stan Galanski will make good use of a 30-day “go shop” provision in a $2.1bn deal that could see his firm acquired by The Hartford.

Wed 22 Aug 2018

Willis Re reinforces Bermuda platform with major rival hire

News

People Moves

Willis Re reinforces Bermuda platform with major rival hire

Willis Re’s growing influence in Bermuda will be bolstered by the imminent arrival of TigerRisk’s well-regarded executive, Andrew DiLoreto, once his notice period is complete.

Wed 22 Aug 2018

The Hartford set to acquire Navigators for $2.1bn

News

M&A

The Hartford set to acquire Navigators for $2.1bn

US insurance group The Hartford has agreed to acquire specialty insurer Navigators in a $2.1bn takeover that includes Lloyd’s Syndicate 1221.

Wed 22 Aug 2018

FHCF lowers attachment point for $1bn cover

News

Property catastrophe

FHCF lowers attachment point for $1bn cover

Florida’s Hurricane Catastrophe Fund (FHCF) has lowered the attachment point for its $1bn cover, of which Renaissance Re wrote more than a third.

Wed 22 Aug 2018

Hannover Re CEO Wallin to be replaced by Swiss Re exec

News

People Moves

Hannover Re CEO Wallin to be replaced by Swiss Re exec

The CEO of Hannover Re Ulrich Wallin will step down next year and be replaced by Swiss Re’s head of Europe, Middle East and Africa, Jean-Jacques Henchoz.

Wed 22 Aug 2018