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AmTrust’s combined ratio balloons to 113% in delayed 2017 results

AmTrust has revealed an underwriting loss in its delayed 2017 results, which shows a combined ratio that climbed by almost 20 points to 112.9 percent.

Fri 16 Mar 2018

Brit takes Marsh exec as UK Property lead

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People Moves

Brit takes Marsh exec as UK Property lead

Brit has hired Neil Walker from broking giant Marsh to head up its UK property division, the carrier announced today.

Fri 16 Mar 2018

Munich Re signals EUR1bn share buy-back despite cat-scarred 2017

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Munich Re signals EUR1bn share buy-back despite cat-scarred 2017

Reinsurance giant Munich Re has outlined plans to buy-back EUR1bn ($1.23bn) of shares in 2018 and has upped profit estimates for the year ahead.

Thu 15 Mar 2018

Generali posts 93% combined ratio for 2017 despite EUR416mn cat bill

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Generali posts 93% combined ratio for 2017 despite EUR416mn cat bill

Italian insurance giant Generali has reported a 92.8 percent combined ratio for last year despite taking a EUR416mn ($514.5) hit from hurricanes in the US and storms across Europe.

Thu 15 Mar 2018

AM Best in talks with Canopius to resolve “under review” stance

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Rating actions

AM Best in talks with Canopius to resolve “under review” stance

AM Best expects to resolve its “under review” status of the Swiss and US subsidiaries of Canopius in the next few weeks following the completion of the Lloyd’s insurer’s $952mn buy-out.

Thu 15 Mar 2018

Dale takes senior underwriting duo from Aspen

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People Moves

Dale takes senior underwriting duo from Aspen

Lloyd’s third party and employers’ liability insurer Dale Underwriting has hired Richard Frost and Richard Loader as senior class underwriters.

Wed 14 Mar 2018

News

Casualty

ArgoGlobal bolsters casualty unit with two new hires

Lloyd’s insurer ArgoGlobal has made two appointments to its casualty division.

Wed 14 Mar 2018

News

Markel takes Guy Carp’s Chu to head up ceded reinsurance

Markel has hired Julia Chu from Guy Carpenter to take a newly-created position as chief of global ceded reinsurance.

Wed 14 Mar 2018

Canopius takes Brit exec Meyer and hires COO

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People Moves

Canopius takes Brit exec Meyer and hires COO

Brit COO Nigel Meyer has left the company after seven years to join the newly-private again Canopius as its CFO.

Wed 14 Mar 2018

Hatem Jabsheh

Chief Operating Officer, IGI

Tue 13 Mar 2018

News

Marine

AFL launches marine division

Ambitious Lloyd’s broker AFL has launched a commercial marine division, appointing the former head of Ed’s marine division to lead the business unit.

Tue 13 Mar 2018

News

Acrisure completes Beach buyout

US retail broker Acrisure has sealed its acquisition of reinsurance intermediary Beach from Jeff Greenberg-run private equity house Aquiline, it was announced today.

Tue 13 Mar 2018

China to merge banking and insurance regulators

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Legal/ Regulatory

China to merge banking and insurance regulators

China is set to combine its insurance and banking regulatory oversight bodies as leader Xi Jinping accelerates his campaign to clean up the country’s heavily-leveraged financial system.

Tue 13 Mar 2018

Hannover Re underwriting profit slips to just EUR15mn in 2017

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Hannover Re underwriting profit slips to just EUR15mn in 2017

German reinsurance giant Hannover Re saw its full-year property and casualty underwriting profit plummet to just EUR15.5mn ($19.1mn) in 2017, a drastic deterioration from the EUR503.1mn it reported this time last year.

Tue 13 Mar 2018

Exin in talks with Swiss Re and others to complete EUR720mn Ethniki deal

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Results

Exin in talks with Swiss Re and others to complete EUR720mn Ethniki deal

Matt Fairfield’s Exin is in talks with five reinsurers including Swiss Re and Munich Re to provide reinsurance financing to complete the agreed sale of Greece’s largest insurance company Ethniki, re-Insurance.com can reveal.

Mon 12 Mar 2018

Kea Trader bill swells to $210mn marine (re)insurance loss

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Losses

Kea Trader bill swells to $210mn marine (re)insurance loss

Losses from the Kea Trader container ship, which ran aground in July last year, have deteriorated by an additional $40mn - pushing the cost for marine (re)insurers to $210mn, re-Insurance.com can reveal.

Mon 12 Mar 2018