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UK P&I Club runs 90% combined ratio in 2017

News

Marine

UK P&I Club runs 90% combined ratio in 2017

Thomas Miller-managed UK P&I Club reported an impressive 90 percent combined ratio for the twelve months up to 20 February, which were marred by significant losses in the marine market.

Tue 29 May 2018

Comment

Marine

Are mariners charting the maps of change for the market?

The marine insurance market is often lambasted for being behind the curve when it comes to modernisation.

Tue 29 May 2018

News

Brexit

QBE secures approval for post-Brexit Belgium arm

QBE has been granted a license for its new Belgian subsidiary, which will serve as the Australian carrier’s European hub in the wake of Brexit.

Tue 29 May 2018

Generali shares drop as political turmoil jolts Italian markets

News

Results

Generali shares drop as political turmoil jolts Italian markets

Shares in Italian carrier Generali have shed nearly 4 percent in early trading in Milan as Italian markets fell sharply after politicians failed to form a government over the weekend, prompting fears of a new election.

Tue 29 May 2018

Proxy advisors split on AmTrust vote as crunch day nears

News

M&A

Proxy advisors split on AmTrust vote as crunch day nears

Shareholder proxy advisors Glass Lewis and Institutional Shareholder Services (ISS) have taken differing stances on whether or not AmTrust should be returned to private ownership in a crunch vote on a proposed $13.50 per share deal on 4 June.

Tue 29 May 2018

Anbang begins hunt for cornerstone investor after state intervention

News

M&A

Anbang begins hunt for cornerstone investor after state intervention

Chinese insurer Anbang has launched a bid to find a new strategic investor after its founder and former chairman was jailed over “economic crime” charges amid a state bailout.

Tue 29 May 2018

Softbank’s play for Swiss Re stake ends without a deal

News

M&A

Softbank’s play for Swiss Re stake ends without a deal

Japanese investment powerhouse Softbank has failed to get a deal over the line to acquire a chunk of Swiss Re.

Tue 29 May 2018

Maersk embarks on major blockchain initiative

News

Marine

Maersk embarks on major blockchain initiative

Shipping giant Maersk has launched the world’s first marine insurance blockchain platform Insurwave in an initiative which ultimately has the potential to transform the way the shipping giant buys risk cover with its insurers.

Fri 25 May 2018

News

Investment losses mar Partner Re underwriting improvements

Partner Re has fallen to a $120mn headline loss for the first quarter despite a marked improvement in its underwriting, especially in the specialty division, with the figures hit by $222mn of unrealised investment losses.

Fri 25 May 2018

Odyssey Re’s Bizet heads to JLT Re Miami

News

Property reinsurance

Odyssey Re’s Bizet heads to JLT Re Miami

Alain Bizet has been named senior vice president of the JLT Re property team in Miami.

Thu 24 May 2018

Hiscox veteran Simon Williams reappears at Arch

News

Energy

Hiscox veteran Simon Williams reappears at Arch

The former head of marine and energy at Hiscox, Simon Williams, has joined Arch Insurance Europe as senior vice president for strategy and distribution.

Thu 24 May 2018

News

People Moves

IAT takes Munich Re’s Chris Bilski

Veteran Munich Re employee Chris Bilski has jumped ship to US specialty carrier IAT Insurance, re-Insurance.com can reveal.

Thu 24 May 2018

AmTrust hits back at Icahn valuation criticism

News

Results

AmTrust hits back at Icahn valuation criticism

AmTrust has offered its counter punch to activist investor Carl Icahn’s scathing critique of the firm’s valuation of its $13.50 per share in its go-private deal with Stone Point Capital, calling the billionaire’s valuation “highly flawed” and selective in favour of his own interests.

Thu 24 May 2018

MS Amlin makes senior appointments after wave of departures

News

People Moves

MS Amlin makes senior appointments after wave of departures

MS Amlin has made two appointments to its executive team following a string of high profile departures in recent months.

Thu 24 May 2018

PartnerRe veteran Lynn Halper to step down

News

People Moves

PartnerRe veteran Lynn Halper to step down

Long serving PartnerRe executive Lynn Halper is to leave the carrier, re-Insurance.com can reveal.

Thu 24 May 2018

News

Cyber

AIG warns GDPR to boost cyber claims as ransomware spectre remains

The introduction of the new European General Data Protection Regime (GDPR), which comes into effect tomorrow, is set to cause a spike in cyber claims as the regulation offers another “tool for negotiation by extortionists”, according to AIG.

Thu 24 May 2018