NewsM&ASchinnerer Group plans to double premium to $2bn following rebrandMarsh & McLennan Companies-owned managing general underwriter, Schinnerer Group, has rebranded to Victor as it looks to double premiums to $2bn.Tue 5 Jun 2018
NewsBrexitLuxembourg approves RSA post-Brexit subsidiaryRegulators in Luxembourg have approved London-based RSA’s application to set up an insurance subsidiary in the country in the wake of the UK’s decision to leave the EU.Tue 5 Jun 2018
NewsProfessional linesCanopius exits professional indemnity and financial institutionsLloyd’s insurer Canopius is pulling out of its professional indemnity (PI) and financial institutions (FI) business lines in London, re-Insurance.com can reveal.Mon 4 Jun 2018
NewsMarineTampakakis becomes the latest hull underwriter to leave TMKKonstantinos Tampakakis has become the latest marine underwriter to resign from Tokio Marine Kiln, re-Insurance.com can reveal.Mon 4 Jun 2018
NewsGuy Carp hires Goldman’s Kumar as new GC Securities chiefGuy Carpenter has recruited Goldman Sachs’ executive Shiv Kumar as the new president and global leader of its GC Securities Capital Markets unit.Mon 4 Jun 2018
NewsFidelis mints $50mn Bermuda sidecarFidelis has launched a $50mn ILS sidecar based in Bermuda to provide collateralised capacity support for the carrier’s reinsurance book.Mon 4 Jun 2018
NewsPeople MovesXL Catlin lures Smyth back from Aspen to head excess casualty businessXL Catlin has appointed former employee Donnacha Smyth as president of its global excess casualty insurance business.Mon 4 Jun 2018
NewsResultsAmTrust postpones vote on $2.7bn take-private deal after shareholder mutinyAmTrust has postponed the shareholder vote on a $2.7bn deal tabled by its CEO, his in-laws and their backers to take the firm private after it failed to gain enough support for the transaction.Mon 4 Jun 2018
NewsPeople MovesLloyd’s broker AFL pushes into ILS marketLloyd’s broker AFL has hired big data specialist James Poole to head up its new ILS advisory business Agile Risk Advisory, the company announced today (4 June).Mon 4 Jun 2018
NewsMarineMaersk to save $10mn with blockchain initiative amid wider cost cuttingShipping giant Maersk has said a new insurance blockchain platform it has created with players from the industry has the potential to save the company $10mn as it looks to slash the cost of cover.Mon 4 Jun 2018
NewsPeople MovesHowden promotes González to take the reins as CEOHyperion-owned broking house Howden has tapped the boss of its Iberoamerica business José Manuel González as its next CEO.Mon 4 Jun 2018
NewsCasualty ReinsuranceArch Re loses another casualty exec to Safety NationalArch Re’s New York-based director of casualty Kim Barnett has defected to Safety National, a subsidiary of Tokio Marine that specialises in alternative risk funding.Mon 4 Jun 2018
NewsPeople MovesBHSI promotes Colahan to UK and Europe headBerkshire Hathaway Specialty Insurance (BHSI) has moved the head of its recently minted Australasian unit Chris Colahan to become the new boss of its UK and Europe division.Mon 4 Jun 2018
NewsM&AEx-Pro owner puts 30% Asta stake up for saleThird-party Lloyd’s managing agency Asta may see a change to its investor base after its listed 30 percent shareholder ACHP said it is “exploring options” for its holding.Mon 4 Jun 2018
NewsM&AFloridians American Traditions and Modern USA Insurance mergeFlorida-based carrier American Tradition is set to merge with its affiliate Modern USA Insurance company to bring the two sister firms under one roof.Fri 1 Jun 2018
NewsLossesRate rises ‘negligible’ at Florida renewals despite cats: JLT ReThe critical 1 June Florida renewals season failed to produce meaningful rate rises despite the state being hit with a swathe of catastrophes in 2017, according to analysis by JLT Re.Fri 1 Jun 2018