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M&A

Alliant acquires Crystal & Company

US specialty broking powerhouse Alliant has reached a deal to buy its smaller New York-based rival Crystal & Company.

Thu 12 Apr 2018

News

Property catastrophe

US property rate rises abating: Willis

The rate increases witnessed in US commercial property lines since the record catastrophes of 2017 took place are beginning to wane, according to Willis Towers Watson.

Thu 12 Apr 2018

Infrastructure boss Charnaud the latest head to roll in Marsh cull

News

People Moves

Infrastructure boss Charnaud the latest head to roll in Marsh cull

Marsh veteran and the chairman of its global infrastructure practice Edwin Charnaud is set to be the latest senior executive to leave his role as the big three broker tries to cut costs amid a huge restructure, re-Insurance.com understands.

Thu 12 Apr 2018

Q&A: Arun Balakrishnan, CEO Xceedance & David Edwards, CEO ChainThat

Ahead of Xceedance and re-Insurance.com’s Bermuda on Blockchain event on 7 June, we caught up with the consultant’s CEO Arun Balakrishnan and the head of blockchain experts ChainThat David Edwards to find out how the two companies see the future of the technology in the (re)insurance industry.

Thu 12 Apr 2018

CNA swoops on AIG for global reinsurance exec

News

People Moves

CNA swoops on AIG for global reinsurance exec

CNA has named Mark James as senior vice president for global reinsurance.

Thu 12 Apr 2018

Marsh’s Roscoe among first to go in cost cutting drive

News

Results

Marsh’s Roscoe among first to go in cost cutting drive

Marsh managing director and head of sales for global specialty Nick Roscoe has become one of the first victims of the broker’s fierce cost-cutting campaign, re-Insurance.com understands.

Thu 12 Apr 2018

News

Losses

Everest Re reveals $100mn Q1 cat hit as California fire losses deteriorate

Bermudian reinsurer Everest Re has said it expects to take around $100mn in catastrophe losses in its Q1 results, largely due to deterioration in loss estimates for the California wildfires which scarred swathes of the state last autumn.

Thu 12 Apr 2018

Beazley looks to grow Asia Pacific operations with regional new head

News

People Moves

Beazley looks to grow Asia Pacific operations with regional new head

Beazley has appointed Lucien Mounier to head its Asia Pacific operations based out of Singapore.

Wed 11 Apr 2018

Steer hands over Compre reins to joint CEOs

News

Legacy

Steer hands over Compre reins to joint CEOs

Will Bridger and Mark Lawson have taken over as joint CEOs at run-off specialist Compre.

Wed 11 Apr 2018

Marsh combines Middle East and Africa ops amid global restructure

News

Results

Marsh combines Middle East and Africa ops amid global restructure

Marsh has opted to combine its Middle East and African units, the broker announced today (11 April), just one day after its CEO John Doyle spoke to employees in a global conference call about plans to restructure its business globally.

Wed 11 Apr 2018

Accredited inks new 2018 US program partnership deal

News

Legacy

Accredited inks new 2018 US program partnership deal

R&Q’s US insurer Accredited Surety & Casualty Company (Accredited) has inked a new program partnership deal for 2018 and predicts a flurry of additional transactions in the next few months.

Wed 11 Apr 2018

QBE promotes Singh to group CFO as Ford exits in management shake up

News

People Moves

QBE promotes Singh to group CFO as Ford exits in management shake up

Australian carrier QBE has named Inder Singh as its new group chief financial officer (CFO), replacing Michael Ford who is leaving the company.

Wed 11 Apr 2018

Swiss Re chalks up 2017 as biggest cat-loss year on record

News

Losses

Swiss Re chalks up 2017 as biggest cat-loss year on record

Insured losses incurred in 2017 are estimated to stand at $144bn, making it the biggest cat loss year on record, according to Swiss Re’s latest Sigma report.

Tue 10 Apr 2018

News

Losses

Maersk Honam cargo losses to cost insurers up to $100mn

Cargo losses stemming from the fatal fire that gutted a Maersk ship in March are expected to fall in the $75mn to $100mn range, re-Insurance.com understands.

Tue 10 Apr 2018

FCA looks into ‘informal’ information sharing in wholesale broking review

News

Legal/ Regulatory

FCA looks into ‘informal’ information sharing in wholesale broking review

The UK regulator has asked whether brokers “informally” share information about tenders in its wide-ranging probe into the wholesale market, re-Insurance.com revealed on Friday (6 April).

Tue 10 Apr 2018

Barbican and Howden pursued by Danish guarantee fund after Gable failure

News

Legacy

Barbican and Howden pursued by Danish guarantee fund after Gable failure

Lloyd’s insurer Barbican and broker Howden have become the latest to find themselves ensnared in the growing construction liability crisis, re-Insurance.com understands.

Tue 10 Apr 2018