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Carlyle Group takes 20% stake in AIG’s giant $40bn run-off vehicle

News

M&A

Carlyle Group takes 20% stake in AIG’s giant $40bn run-off vehicle

Private equity giant The Carlyle Group has taken a 19.9 percent stake in AIG’s $40bn Bermudian run-off vehicle DSA Re.

Wed 1 Aug 2018

Global Risk Partners completes merger of two Lloyd’s brokers

News

M&A

Global Risk Partners completes merger of two Lloyd’s brokers

Broker and MGA consolidator Global Risk Partners has merged two of its businesses – Lonmar and Ropner – bringing the two London broking houses under the Lonmar Global Risks banner.

Wed 1 Aug 2018

Markel’s profits leap even as its combined deteriorates

News

Results

Markel’s profits leap even as its combined deteriorates

Markel saw its profits surge by 29.5 percent to $311.3mn during the second quarter despite deteriorating underwriting results.

Wed 1 Aug 2018

Generali posts 92% P&C combined ratio for first half of the year

News

Results

Generali posts 92% P&C combined ratio for first half of the year

Italian insurance giant Generali has posted an improved combined ratio in its key P&C division in the first half of the year despite being hit by EUR139mn ($162.3mn) of catastrophe events.

Wed 1 Aug 2018

Investment returns dent Third Point profits as underwriting improves

News

Results

Investment returns dent Third Point profits as underwriting improves

Third Point Re’s net income fell 73 percent to $19.6mn in the second quarter despite improving underwriting results and modest investment gains.

Wed 1 Aug 2018

Investments send Greenlight Re to loss despite underwriting improvement

News

Results

Investments send Greenlight Re to loss despite underwriting improvement

Investment losses at Greenlight Re sent the Caymans Islands-based reinsurer to another quarterly net loss, despite a modest improvement in its underwriting performance.

Tue 31 Jul 2018

Arch beats with top and bottom line improvement

News

Results

Arch beats with top and bottom line improvement

Arch has trumped analysts’ consensus in the second quarter with a $242.6mn profit that was 43.6 percent higher than this time last year driven by improvement in both its insurance and reinsurance divisions.

Tue 31 Jul 2018

XL disappoints analysts as insurance reserve charge dents profits

News

Results

XL disappoints analysts as insurance reserve charge dents profits

Soon-to-be Axa-owned XL Group underperformed against the expectations of analysts in the second quarter as a reserve charge in the carrier’s insurance division took its toll on the Bermudian’s bottom line.

Tue 31 Jul 2018

News

Losses

Aon says Carr fire losses will top $100mn

Economic losses stemming from the Carr wildfire that has ravaged parts of California in recent days are expected to exceed $100mn, according to estimates by Aon.

Tue 31 Jul 2018

Scor to use Lloyd’s and company paper in ‘flexible way’ after overhaul

News

Results

Scor to use Lloyd’s and company paper in ‘flexible way’ after overhaul

The deputy CEO of Scor has said that a major overhaul of its London businesses will give the reinsurance giant the ability to use the paper of its Lloyd’s syndicate Channel and its company market paper “in a flexible way”.

Tue 31 Jul 2018

Binders broker Spicer the latest to leave Miller

News

People Moves

Binders broker Spicer the latest to leave Miller

Programmes and facilities broker Luke Spicer has left London wholesaler Miller for rival Bishopsgate, re-Insurance.com can reveal.

Tue 31 Jul 2018

News

Marine

Ed bolsters marine division with Lloyd and Partners hire

Broking house Ed has strengthened its marine team with appointment of Patrick Jordan as divisional director.

Tue 31 Jul 2018

Everest’s Q2 reserve charge hits profits as top line swells

News

Results

Everest’s Q2 reserve charge hits profits as top line swells

Everest Re’s top line ballooned in a second quarter that saw its bottom line severely dented by a $250mn after tax charge to bolster reserves against last year’s catastrophes.

Tue 31 Jul 2018

ILS syndicate Arcus reshuffles after departures

News

People Moves

ILS syndicate Arcus reshuffles after departures

Credit Suisse’s Lloyd’s platform, Arcus 1856, has announced a series of internal promotions and the appointment of an interim lead underwriter following recent senior departures.

Tue 31 Jul 2018

News

Accredited signs largest US program deal yet

London-listed R&Q Group has inked its largest yet program underwriting partnership with the fast-expanding Californian program administrator, Atlas General Services Insurance.

Tue 31 Jul 2018

High M&A multiples not deterring AJG acquisitions

News

M&A

High M&A multiples not deterring AJG acquisitions

The high price tag for mergers and acquisitions in the insurance industry is not deterring Arthur J Gallagher from buying up smaller broking houses, the firm’s chairman, president and CEO has said.

Mon 30 Jul 2018