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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

Neon bolsters Bermuda operations with a duo of hires

News

People Moves

Neon bolsters Bermuda operations with a duo of hires

Neon has made two appointments to its Bermudian operations as it builds out its presence on the island.

Fri 8 Jun 2018

News

Marine

MS Amlin builds out Asia Pacific marine and energy team

MS Amlin has made three underwriting appointments to its Asia Pacific team as the carrier looks to expand its footprint in the region.

Fri 8 Jun 2018

XL Catlin taps Brit’s Coutts for cargo boss

News

Marine

XL Catlin taps Brit’s Coutts for cargo boss

XL Catlin has hired Andrew Coutts as its global practice leader for cargo, the carrier announced today.

Fri 8 Jun 2018

AmTrust shares edges toward revised $14.75 offer price

News

Results

AmTrust shares edges toward revised $14.75 offer price

Shares in AmTrust climbed more than 3 percent yesterday to close at $14.56 in New York, shy of the $14.75 increased offer price from the firm’s owning family, which is looking to take the US insurer private.

Fri 8 Jun 2018

Bermuda regulatory sandbox in place by summer: Premier Burt

News

Legal/ Regulatory

Bermuda regulatory sandbox in place by summer: Premier Burt

Bermuda will have an InsurTech regulatory sandbox regime in place by the end of July in the latest sign of the island’s commitment to having a flexible regime that can adapt quickly to technological change.

Thu 7 Jun 2018

News

Aspen and Aon veterans join Ryan Specialty to launch reinsurance MGU

Ryan Specialty Group has launched a reinsurance managing general underwriter (MGU) called RyanRe, just days after receiving a $175mn cash injection from Canadian private equity house Onex Corporation.

Thu 7 Jun 2018

Commercial P&C premiums to jump nearly a quarter by 2021: Aon

News

Casualty

Commercial P&C premiums to jump nearly a quarter by 2021: Aon

The amount of commercial property and casualty business written globally is expected to reach $900bn by 2021, according an estimate by broker Aon.

Thu 7 Jun 2018

Lloyd’s: All syndicates must cut costs in 2019

News

Results

Lloyd’s: All syndicates must cut costs in 2019

The Corporation of Lloyd’s has instructed all managing agents to demonstrate expense savings for every syndicate trading on the Lloyd’s platform in 2019, re-Insurance.com can reveal.

Thu 7 Jun 2018

Pool Re’s ambitions to extend cover progresses through parliament

News

Legal/ Regulatory

Pool Re’s ambitions to extend cover progresses through parliament

Efforts by Pool Re to extend its coverage to include non-physical damage business interruption have moved a step closer to success as a bill that would grant the terror mutual authority to write the cover was read in parliament today (7 June).

Thu 7 Jun 2018

Icahn forces AmTrust offer price up by almost 10% and backs the deal

News

M&A

Icahn forces AmTrust offer price up by almost 10% and backs the deal

Activist investor Carl Icahn has successfully forced AmTrust’s CEO, his in-laws and their backers to increase by 9.3 percent their bid to take the company private.

Thu 7 Jun 2018

News

Brexit

Arch picks Dublin for post-Brexit hub

Arch has set out plans to expand its underwriting operations in Ireland so it can continue trading across the continent once Britain leaves the European Union.

Thu 7 Jun 2018

Florida’s HCI cuts reinsurance limit at 1.6

News

Property catastrophe

Florida’s HCI cuts reinsurance limit at 1.6

Floridian homeowners specialist HCI, which was hit by around $267mn of gross losses from Hurricane Irma last year, has cut limits on its reinsurance programme for the next 12 months.

Wed 6 Jun 2018

Insurance can reduce tax-payer burden: Beale

News

Losses

Insurance can reduce tax-payer burden: Beale

Insurance products have the ability to directly reduce the risk to economic output globally and close the protection gap, Lloyd’s CEO Inga Beale has said.

Wed 6 Jun 2018

XL shareholders give Axa deal the green light

News

M&A

XL shareholders give Axa deal the green light

XL Group’s shareholders have approved Axa’s $15.3bn all cash offer to buy the Bermuda-domiciled firm, effectively clearing the way for the deal to go ahead.

Wed 6 Jun 2018

News

Leadenhall Capital’s assets under management swell to more than $5bn

London-based ILS fund manager Leadenhall Capital Partners has grown its assets under management to exceed $5bn in the first half of the year.

Wed 6 Jun 2018