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People Moves

Goldsmith joins Eliot Partnership

Veteran London market broker John Goldsmith has joined the insurance executive search firm Eliot Partnership as senior adviser and partner.

Tue 1 May 2018

News

'Trader’s market' continues says JLT

London-listed broker JLT has once again described the global (re)insurance and specialty industry as a “trader’s market” with inconsistent rate renewal movements following the circa $130bn of cat losses last year.

Tue 1 May 2018

Sompo International upgraded to A+ by S&P

News

Rating actions

Sompo International upgraded to A+ by S&P

Rating house Standard and Poor’s has upgraded the financial strength rating of John Charman-led Sompo International Holdings (SIH).

Tue 1 May 2018

Poor investments push Greenlight Re to $142mn Q1 loss

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Results

Poor investments push Greenlight Re to $142mn Q1 loss

Cayman Islands-headquartered hedge fund reinsurer Greenlight Re has slumped to a $142mn loss in the first quarter as a stinging investment loss overshadowed a marginally profitable underwriting performance.

Tue 1 May 2018

CNA posts Q1 combined ratio of 93.1 percent

News

Results

CNA posts Q1 combined ratio of 93.1 percent

CNA Financial Corp (CNA), the eighth largest commercial insurer in the US, saw its net income for the first quarter 2018 climb by 12 percent from $260mn in the first quarter of 2017 to $291mn, fuelled by improving loss and expense ratios and a growing top line.`

Mon 30 Apr 2018

Markel bolsters yacht team with Chubb hire

News

Marine

Markel bolsters yacht team with Chubb hire

Markel has appointed former Chubb vice president Debbie O’Sullivan as senior yacht underwriter in its marine team.

Mon 30 Apr 2018

Ethniki bidder receives boost from Greek Union as Chinese firms circle

News

M&A

Ethniki bidder receives boost from Greek Union as Chinese firms circle

Exin, the aspiring owner of Greece’s largest insurer Ethniki, appears to have received a boost from an unlikely source as it continues its odyssey to raise EUR720mn to buy a majority share of the firm.

Mon 30 Apr 2018

Guy Carpenter bolsters Bermuda operation with rival hire and promotion

News

People Moves

Guy Carpenter bolsters Bermuda operation with rival hire and promotion

Guy Carpenter has promoted John Fletcher to chairman of its Bermuda operations following the recent defection of its island CEO Peter Stubbings to rival Aon Benfield.

Mon 30 Apr 2018

News

Results

R&Q profits leap 38 percent and shares surge as new strategy takes shape

The slimmed-down Randall & Quilter Investment Holdings Ltd (R&Q) saw its underlying profits climb 38 percent in 2017 while executing a major strategic drive to simplify the business around two core offerings: legacy acquisitions and program management.

Mon 30 Apr 2018

Mapfre top line shrinks as specialty premiums slump

News

Results

Mapfre top line shrinks as specialty premiums slump

Spanish (re)insurer Mapfre has reported revenue of EUR7.26bn ($8.77bn) in the first quarter, down 7 percent from EUR7.85bn in the first three months of 2017.

Fri 27 Apr 2018

Aspen attracts wide PE and trade interest ahead of today’s bid deadline

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Results

Aspen attracts wide PE and trade interest ahead of today’s bid deadline

The bankers for up-for-sale Aspen Insurance are comparing first round indicative interest bids today ahead of a Bermuda board meeting scheduled for next week, re-Insurance.com understands.

Fri 27 Apr 2018

P&C improvements push The Hartford to Q1 beat

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Results

P&C improvements push The Hartford to Q1 beat

A strong performance in both commercial and personal lines P&C underwriting helped US carrier The Hartford beat analyst expectations for the first quarter aided by lower cat losses and favourable prior year reserve development.

Fri 27 Apr 2018

Aon Securities predicts $9bn cat bond issuance in 2018

News

Property catastrophe

Aon Securities predicts $9bn cat bond issuance in 2018

Aon Securities has predicted $9bn worth of cat bonds will be issued by the end of year, slightly down from the record breaking 2017 issuance.

Thu 26 Apr 2018

Axa’s US IPO could bag up to $4.3bn for XL deal

News

Results

Axa’s US IPO could bag up to $4.3bn for XL deal

Axa’s plan to float its US financial services business Axa Equitable Holdings could bag the French insurance giant up to $4.26bn to put toward its $15.3bn acquisition of XL Group.

Thu 26 Apr 2018

Canopius takes Aspen duo to bolster Singapore team

News

People Moves

Canopius takes Aspen duo to bolster Singapore team

Canopius has plucked Yann Marmonier and Paul Hackett from Aspen as it builds out its team in Singapore.

Thu 26 Apr 2018

News

Results

MMC posts strong Q1 as Guy Carp shines

Marsh & McLennan Companies (MMC) posted an impressive set of Q1 results before markets opened this morning as risk and insurance revenues grew 3 percent on an underlying basis to top $2.3bn led by a strong performance at Guy Carpenter.

Thu 26 Apr 2018