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Losses

US ‘Nor’easter’ March storm losses expected to top $1.7bn: Aon Benfield

Insured losses from three powerful ‘Nor’easter’ storms which swept the East coast of the US in March are estimated to reach over $1.7bn, according to data from Aon Benfield.

Thu 5 Apr 2018

Navigators mulling sale of Lloyd’s platform

News

M&A

Navigators mulling sale of Lloyd’s platform

US specialty carrier Navigators is weighing up a sale of its Lloyd’s business after a disappointing performance in 2017 pushed its Syndicate 1221 to a £15mn ($21.1mn) underwriting loss for the year, re-Insurance.com understands.

Thu 5 Apr 2018

Axa’s Blanc departs to head Zurich Insurance EMEA

News

People Moves

Axa’s Blanc departs to head Zurich Insurance EMEA

Amanda Blanc is to succeed Gary Shaughnessy as CEO of Zurich Insurance’s Europe, Middle East & Africa (EMEA) business.

Thu 5 Apr 2018

News

People Moves

Colosso joins PIB as director

Former Howden UK CEO Adrian Colosso has made another move in the (re)insurance broking world by joining broker consolidator PIB as a non-executive director.

Thu 5 Apr 2018

News

People Moves

Dugland promoted to TMK Asia chief

Tokio Marine Kiln’s (TMK) former regional underwriting director for Asia, Alex Dugland has been named the carrier’s new managing director for the region.

Thu 5 Apr 2018

News

Energy

Energy insurers must ‘choose between two evils’: Willis

Underwriters of upstream energy face a dilemma over whether to continue to invest in the line of business or to scale back operations until the class becomes more profitable, a new study from Willis Towers Watson has found.

Thu 5 Apr 2018

Todd Link

Senior Vice President, Chief Operating Officer and Chief Financial Officer, Berkshire Hathaway Specialty Insurance

Wed 4 Apr 2018

JLT Re reshuffles North American senior team

News

People Moves

JLT Re reshuffles North American senior team

JLT Re has promoted George Daddario to the newly created role of executive chairman of North America.

Wed 4 Apr 2018

HPS and Madison Dearborn complete deal to buy Compass

News

M&A

HPS and Madison Dearborn complete deal to buy Compass

Private equity firms HPS Investment Partners and Madison Dearborn Partners (MDP), which own acquisitive broking house Broker Network, have completed a deal to buy London-based wholesaler Compass.

Wed 4 Apr 2018

Swiss Re sees M&A opportunity in P&C but high pricing remains a barrier

News

M&A

Swiss Re sees M&A opportunity in P&C but high pricing remains a barrier

Swiss Re is prepared to conduct M&A through its Corporate Solutions arm in the P&C market but high pricing levels and a still difficult market situation are proving to be a sticking point, its CEO Christian Mumenthaler said today (4 April).

Wed 4 Apr 2018

News

Mitsui and Aioi sponsor $320mn Japanese cat bond

Mitsui Sumitomo (MSI) and Aioi Nissay Dowa (ADI), both subsidiaries of Japanese insurance giant MS&AD, have jointly sponsored a $320mn (33.9bn yen) cat bond for natural catastrophe risks in the country.

Wed 4 Apr 2018

News

Losses

Cats deal $380mn blow to Chubb in Q1

Chubb has warned that it is expecting to take a $380mn natural catastrophe claims hit from a first quarter that brought mudslides in California and a string of storms in the north eastern US.

Wed 4 Apr 2018

Anbang gets $9.7bn bailout after Chinese government takes control

News

Legal/ Regulatory

Anbang gets $9.7bn bailout after Chinese government takes control

Anbang has been bailed out to the tune of RMB60.8bn ($9.66bn) just months after the country’s insurance regulator took over the firm in the wake of its chairman’s arrest.

Wed 4 Apr 2018

Softbank Swiss Re stake 'expected not to exceed 10%'

News

M&A

Softbank Swiss Re stake 'expected not to exceed 10%'

Swiss Re has poured cold water on the suggestion that Japanese investment powerhouse Softbank is set to take a substantial stake in the company by saying any capital investment would likely target 10 percent or less of outstanding shares.

Wed 4 Apr 2018

Bermuda stocks back in vogue as M&A bonanza fuels strong returns

Analysis

Results

Bermuda stocks back in vogue as M&A bonanza fuels strong returns

With M&A speculation swirling, Bermuda is now on top of would-be buyers’ wishlists - and now everyone is a potential target. Re-Insurance.com digs into the numbers to see who has emerged as the market’s darling at the end of Q1…

Tue 3 Apr 2018

Will XL’s $15.3bn M&A SEC proxy filing pile more pressure on AXA’s Buberl?

Analysis

Results

Will XL’s $15.3bn M&A SEC proxy filing pile more pressure on AXA’s Buberl?

Axa’s rival Allianz is widely believed to be the XL Group under-bidder. If there is a big discrepancy in prices offered then it may fuel further Axa shareholder ire in the direction of its youthful German CEO…

Tue 3 Apr 2018