NewsResultsZurich P&C profit up 11% in first half 2018European Insurance powerhouse Zurich has reported an improved business operating profit in its P&C division in the first six months of the year, up 11 percent to $1.14bn.Thu 9 Aug 2018
NewsResultsHannover Re’s P&C premiums climb 19% as losses cost less than expectedTop line in Hannover Re’s property and casualty division swelled by 19.2 percent in the first half of the year driven by a surge in demand for structured reinsurance solutions, the big four reinsurer has said.Thu 9 Aug 2018
NewsPeople MovesAIG confirms return of Thomas LillelundAIG has confirmed it has snared Aspen Re’s CEO Thomas Lillelund, as revealed by re-Insurance.com..Wed 8 Aug 2018
NewsRatesProperty and finpro drive commercial line price hikesCommercial insurance pricing increased in the second quarter, driven by growth in property, as well as financial and professional lines, according to Marsh.Wed 8 Aug 2018
NewsResultsAspen share price now marooned below NTA on M&A concernsAspen Insurance Holding’s share price has now fallen 18 percent since its year-to-date high in early April as speculators become increasingly pessimistic about the imminent sale of the company as a formal M&A process edges closer to a conclusion.Wed 8 Aug 2018
NewsPeople MovesGallagher strengthens construction team with JLT veteranGallagher has built out its construction division with the appointment of Julie Scott.Wed 8 Aug 2018
NewsResultsMS&AD warns of $600mn bill for Japanese floodsJapanese insurer MS&AD has warned that it is expecting gross losses of around 66bn yen ($594.8mn) after flood waters inundated swathes of the insurance giant’s heartland last month.Wed 8 Aug 2018
NewsResultsMunich Re shares suffer following worst man-made loss bill in a decadeShares in reinsurance giant Munich Re dipped by as much as 4 percent this morning after man-made disasters helped push the carrier’s P&C reinsurance division to an underwriting loss in the second quarter. Wed 8 Aug 2018
NewsResultsMS Amlin breaks even as staff cuts take their toll on the bottom lineMS Amlin broke even in the first quarter of 2018 as the Lloyd’s carrier’s expenses almost doubled to cover the cost of a sweeping staff cuts. Wed 8 Aug 2018
NewsEnergyIGI taps Axis for downstream energy underwriterMiddle Eastern carrier IGI has strengthened its energy offering with the appointment of James Green as senior underwriter for downstream energy. Wed 8 Aug 2018
NewsCasualty ReinsuranceMunich Re falls to P&C underwriting loss in Q2German powerhouse Munich Re’s property and casualty reinsurance division was pushed to an underwriting loss in the second quarter as a significant bill for man-made disasters sent its combined ratio over 100 percent.Wed 8 Aug 2018
NewsPeople MovesAspen appoints new reinsurance head as AIG hires LillelundAspen Re’s CEO Thomas Lillelund is leaving the Bermudian carrier, which is elevating his number two to lead its reinsurance unit.Tue 7 Aug 2018
NewsCyberAverage cyber policy limits plunge by almost 50%: CIABThe typical limit on a cyber policy was down 47 percent to $3.2mn in 2018, according to a study by the Council of Insurance Agents and Brokers (CIAB) in the US.Tue 7 Aug 2018
NewsLossesInsured losses from NZ’s Canterbury earthquakes climb to $15bnInsured losses stemming from earthquakes in Canterbury, New Zealand in 2010 and 2011 have risen to NZ$22.29bn ($15.02bn), according to the country’s insurance trade body.Tue 7 Aug 2018
NewsLloyd’s gives Nephila the go-ahead for its own managing agencyILS giant Nephila has been given the green light to set up its own managing agency after a meeting of the Lloyd’s franchise board.Tue 7 Aug 2018
NewsAviationStarr confirms deal to buy Aspen’s aviation bookStarr Insurance Companies has confirmed a deal to acquire Aspen’s aviation insurance operation after the Bermudian’s CEO revealed that it was ditching its $50mn+ book.Tue 7 Aug 2018