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Liberty takes two ex-AIG underwriters to bolster its liability team

News

People Moves

Liberty takes two ex-AIG underwriters to bolster its liability team

Liberty Specialty Markets has created a pair of new underwriting roles in its liability team, which it has filled with two hires from AIG.

Thu 19 Jul 2018

Reserve releases help RLI to top estimates despite volcano claims

News

Results

Reserve releases help RLI to top estimates despite volcano claims

US specialty insurer RLI impressed financial analysts as it kicked off the second quarter reporting season with an expectation-beating profit after reserve releases offset claims from volcanic activity in Hawaii.

Thu 19 Jul 2018

UK Gov supports motor terrorism move as vote deadline looms

News

Legal/ Regulatory

UK Gov supports motor terrorism move as vote deadline looms

This week is crunch time for the UK’s Motor Insurers’ Bureau (MIB) as it looks to widen coverage to include vehicles used in UK terrorist attacks.

Wed 18 Jul 2018

News

M&A

AIG completes $5.56bn Validus takeover

AIG has completed its all-cash $5.56bn acquisition of Bermudian (re)insurer Validus in a deal that also bags the US insurance giant Lloyd’s syndicate Talbot.

Wed 18 Jul 2018

Miller taps Curtin to lead energy construction

News

People Moves

Miller taps Curtin to lead energy construction

Miller has taken advantage of the swathe of redundancies at Marsh by hiring its larger rival’s former head of energy construction business Ian Curtin.

Wed 18 Jul 2018

Tokio Marine HCC restructures leadership team

News

People Moves

Tokio Marine HCC restructures leadership team

Tokio Marine HCC has made a number of changes to the management team of its specialty operations globally.

Wed 18 Jul 2018

Berkshire Hathaway loosens terms on share buybacks

News

Results

Berkshire Hathaway loosens terms on share buybacks

Warren Buffett’s Berkshire Hathaway has eased conditions around repurchasing its own stock in a move that may signal an ambition to ramp up share buybacks.

Wed 18 Jul 2018

CatCo parts company with CUO after heavy 2017 loss

News

People Moves

CatCo parts company with CUO after heavy 2017 loss

Markel’s collateralised retro fund manager CatCo has parted ways with its co-chief underwriting officer just months after significantly increasing the estimate of its 2017 losses, re-Insurance.com understands

Tue 17 Jul 2018

Munich Re announces CFO change and divisional restructure

News

People Moves

Munich Re announces CFO change and divisional restructure

Long-serving Munich Re CFO Jörg Schneider will retire from the reinsurer’s board of management at the end of the year, with Ergo Group CFO Christoph Jurecka taking his place.

Tue 17 Jul 2018

Borges named THB Europe boss as Lindeboom retires

News

People Moves

Borges named THB Europe boss as Lindeboom retires

AmWins-owned broking house THB has named Ricardo Borges managing director of its European operations amid a restructuring of the leadership team in Amsterdam.

Tue 17 Jul 2018

Axa’s legacy arm buys bulk of $69mn Emirates Re

News

M&A

Axa’s legacy arm buys bulk of $69mn Emirates Re

Axa Liabilities Managers has acquired a majority stake in Dubai-based reinsurer Emirates Re, the run-off buyer announced today.

Tue 17 Jul 2018

Standard Syndicate’s managing agency taps Probitas for CEO

News

People Moves

Standard Syndicate’s managing agency taps Probitas for CEO

Charles Taylor Managing Agency (CTMA) has appointed Colin Grint as chief executive.

Tue 17 Jul 2018

News

Losses

Perils ups Friederike estimate again

European catastrophe data provider Perils has again increased its loss estimate for extratropical cyclone Friederike, this time to EUR1.68bn ($1.97bn).

Tue 17 Jul 2018