Marsh exits begin just days after Doyle unveiled cost-cutting plan

The exodus from Marsh began last week just days after John Doyle, the boss of the big-three broker, unveiled details of a “delayering” strategy on a conference call revealed by re-Insurance.com.

Tue 17 Apr 2018

It’s bad out there… but is it that bad?

Many ILS investors take a very binary approach and M&A is encouraging a de-leveraging effect. Florida 1.6 renewals may be disappointing but there are still grounds for optimism…

Tue 17 Apr 2018

Pool Re and Guy Carp lead Bishopsgate bombing anniversary line slip

Next week marks 25 years since the Bishopsgate bombing, with carriers and brokers from the London market commemorating the event by once again coming together to support a local cause.

Tue 17 Apr 2018

McGavick the masterful tactician

Allianz and five others used to tease knockout $15.3bn bid from XL…

Tue 17 Apr 2018

Axa agrees $11bn bridge loan as XL back-up finance

If Axa is unable to raise subordinated debt or IPO its US business - Axa Equitable Holdings - in time to complete it’s $15.3bn takeover of XL Group later this year then it can call on a bridge financing facility that was initially $11bn.

Tue 17 Apr 2018

Perils ups cyclone Friederike estimate by 11% to EUR1.63bn

European catastrophe data provider Perils has increased its loss estimate for extratropical cyclone Friederike to EUR1.63bn ($2.02bn).

Tue 17 Apr 2018

XL Group received alternative bid in ‘low $50s’ in seven-strong M&A auction

XL Group, the Bermudian (re)insurer that succumbed last month to an all cash $15.3bn takeover at $57.60 per share from French powerhouse Axa, had M&A discussions with seven different potential acquirers and received a non-binding alternative bid in the “low $50s” from an unnamed carrier.

Tue 17 Apr 2018

MGA NuVu Underwriting launches in Hong Kong

Former Nexus Asia CEO Jeremy Austen has joined HWI International Group to launch NuVu Underwriting, a managing general agent based in Hong Kong.

Mon 16 Apr 2018

Axis rolls up Novae cyber team for new specialty division

Axis has rolled up its cyber operations to create a new underwriting platform that will also offer risk mitigation advice and education.

Mon 16 Apr 2018

Cyber underwriting platform Envelop Risk launches

A new data analytics-led cyber (re)insurance platform, Envelop Risk, has been launched today (16 April) with a bold ambition to create next-generation cyber insurance products and deploy augmented-intelligence underwriting with support from the advanced US data analytics firm QxBranch and Scandinavian alternative investor, New Nordic Advisors.

Mon 16 Apr 2018

Consortium income gives Barbican managing agency a boost in 2017

Revenue from leading underwriting consortiums gave Barbican’s managing agency business a £1.8mn boost, helping the syndicate-owner to grow profits in 2017.

Mon 16 Apr 2018

Argo appoints Tucci to lead newly acquired Italian business

Fri 13 Apr 2018

Capital continues to flow into reinsurance market: Aon Benfield

Global reinsurance capital has continued to build despite the record catastrophes of 2017, according to Aon Benfield.

Fri 13 Apr 2018

An ‘astounding’ number of insurers expect to be unaffected by Brexit

The deputy governor of Ireland’s central bank has fired a warning shot to the “astounding” number of Irish insurers that say they do not expect to be impacted by the UK’s departure from the European Union.

Fri 13 Apr 2018

Marsh appoints Chris Lay CEO for UK and Ireland as Weil exits

Broking house Marsh has named Chris Lay as CEO of its UK and Ireland operations.

Fri 13 Apr 2018

US mid-year rate increases will be suppressed by ILS 'culprit'

Investors should rein in any expectations of significant rate increases for US property cat treaties at the mid-year renewals despite last year’s $100bn+ of losses, warned JMP Securities analyst Matthew Carletti today (13 April).

Fri 13 Apr 2018