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PSC buys into BP Marsh amid £17mn capital raise

News

M&A

PSC buys into BP Marsh amid £17mn capital raise

Australian broking house PSC Insurance Group, which owns London intermediaries Alsford Page & Gems and Carroll & Partners, has taken a £15.5mn stake in BP Marsh as it looks to expand its operations in the UK.

Tue 12 Jun 2018

Proxy firm ISS changes advice to back AmTrust’s take-private deal

News

M&A

Proxy firm ISS changes advice to back AmTrust’s take-private deal

Having previously launched a scathing attack on AmTrust’s “less-than-robust sale process”, proxy voting firm ISS has decided back a take-private deal after the firm’s CEO, his in-laws and their backers raised their offer for the company by $1.25 per share.

Tue 12 Jun 2018

News

Insurers exposed to ‘silent blockchain risk’

Insurance carriers may be exposed to ‘silent’ risks from blockchain as companies begin to use the technology underpinning cryptocurrencies in their operations, according to Willis Towers Watson’s Magdalena Ramada.

Mon 11 Jun 2018

AmTrust makes Hickey group underwriting boss

News

People Moves

AmTrust makes Hickey group underwriting boss

AmTrust has promoted its strategy and business development executive Dan Hickey to take the reins as chief underwriting officer, the company said today.

Mon 11 Jun 2018

Ardonagh owners buy Axa’s health insurance broker

News

M&A

Ardonagh owners buy Axa’s health insurance broker

Highbridge Principal Strategies (HPS) and Madison Dearborn Partners (MDP), which together own the bulk The Ardonagh Group, have acquired Axa’s UK-based healthcare broker.

Mon 11 Jun 2018

Tysers staff finally receive £110mn windfall in cash and Integro stock

News

M&A

Tysers staff finally receive £110mn windfall in cash and Integro stock

The management and staff of London market broker Tysers have received a £110mn windfall in cash and Integro stock following the approval of its drawn-out takeover by the US intermediary.

Mon 11 Jun 2018

News

People Moves

Kendrick to retire from Chubb

London market veteran Andrew Kendrick is to retire from Chubb at year-end and will be replaced in his role as head of Europe operations by David Furby from 1 July, Chubb announced today.

Mon 11 Jun 2018

News

Aviation

Aviation goes live on PPL

Aviation risks can now be quoted and bound on electronic placing platform PPL, it was announced today.

Mon 11 Jun 2018

News

Leadenhall’s new ‘remote risk’ fund trebles in size to $60mn

ILS fund manager Leadenhall Capital Partners has seen its new “remote risk” fund almost treble in size to $60mn while its overall assets under management expand to a record $5bn, re-Insurance.com can reveal.

Mon 11 Jun 2018

Integro confirms Tysers £110mn deal approval

News

M&A

Integro confirms Tysers £110mn deal approval

Integro has received official approval from the UK Financial Regulation Authority for its deal to acquire London market broker Tysers.

Mon 11 Jun 2018

News

Markel enters Lloyd’s India to write reinsurance

US carrier Markel has been granted a license by the Indian regulator to write reinsurance business in the country through the Lloyd’s India platform.

Mon 11 Jun 2018

Gongbao to discuss EUR650mn Ethniki bid with Greek regulators

News

M&A

Gongbao to discuss EUR650mn Ethniki bid with Greek regulators

Chinese investment firm Gongbao will sit down with representatives from the Greek financial regulator, Bank of Greece, later this week after submitting a formal bid for Ethniki the up-for-sale Greek insurer.

Mon 11 Jun 2018

World Cup could demand over $7bn of cover: Beazley

News

Losses

World Cup could demand over $7bn of cover: Beazley

London insurer Beazley has estimated that (re)insurers could have written up to $7.4bn of cover for the World Cup, which kicks off in Russia later this month.

Fri 8 Jun 2018

News

Energy

Liberty’s long-serving marine and energy underwriter Pursey departs

Liberty Specialty Markets’ global manager for energy exploration and production, Richard Pursey, has left the carrier, re-Insurance.com can reveal.

Fri 8 Jun 2018

Aspen’s O’Kane to bag over $325,000 in benefits from Bermuda move

News

Results

Aspen’s O’Kane to bag over $325,000 in benefits from Bermuda move

Up-for-sale Aspen has offered its group CEO Chris O’Kane a benefits package worth $325,000 a year on top of his $853,000 base salary, to accommodate his move to Bermuda, which was revealed by re-Insurance.com last month.

Fri 8 Jun 2018

News

Losses

Aon pegs US May storm losses at $1.53bn

Insured losses stemming from four separate weather outbreaks in the US last month are expected to exceed $1.53bn, according to estimates by Aon.

Fri 8 Jun 2018