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M&A

Custody battles

Much like in an acrimonious divorce, M&A can often see company bosses lose their baby - the business they’ve built - to a new suitor. But what becomes of those execs after the custody battle?

Mon 12 Mar 2018

Japanese 1.4 reinsurance renewals set to come in flat

News

Casualty Reinsurance

Japanese 1.4 reinsurance renewals set to come in flat

Japan’s six largest reinsurance renewals at 1.4 are expected to come in flat after years of compound rate reductions, with international markets reluctant to countenance further cuts in the wake of a relatively stronger 1.1 this year, re-Insurance.com understands.

Mon 12 Mar 2018

Sompo the driving force behind Canopius $952mn MBO

News

M&A

Sompo the driving force behind Canopius $952mn MBO

The private equity-backed management buyout of Canopius that completed on Friday was pushed for by Japanese owner Sompo, the Lloyd’s carrier’s chairman Michael Watson has confirmed.

Mon 12 Mar 2018

Markel CATCo ties up 55% of net assets from 2017 H2 cats

News

Results

Markel CATCo ties up 55% of net assets from 2017 H2 cats

Despite paying out $400mn in claims in 2017, the collateralised retro fund manager Markel CATCo said today (12 March) that more than half of its year-end net assets in its listed CATCo Reinsurance Opportunities Fund are tied-up in sidepockets to pay for further losses and potential creep from last year’s cat events.

Mon 12 Mar 2018

Twelve Capital EUR20m investment at risk from Alpha run-off

News

Legacy

Twelve Capital EUR20m investment at risk from Alpha run-off

Insurance fund manager Twelve Capital is at risk of losing its EUR20m ($24.6mn) investment in Danish insurer Alpha, which was put into run-off earlier this month.

Mon 12 Mar 2018

London broking trio HHS reunite at Beach

News

People Moves

London broking trio HHS reunite at Beach

Beach has hired ex-Integro executives John Sutton and Toby Humphreys as the newly-acquired reinsurance broker launches a specialty and wholesale platform.

Mon 12 Mar 2018

News

Aspen shares leap on JP Morgan appointment

Shares in Aspen Insurance spiked almost 9 percent on Friday (9 March) following reports that JP Morgan had been appointed to advise the Bermudian (re)insurer’s Board.

Mon 12 Mar 2018

News

R&Q writes $70mn ADC

R&Q has written a $70mn Adverse Development Cover (ADC) reinsuring medical professional liability and general liability risks on behalf of a US domiciled risk retention group.

Fri 9 Mar 2018

Canopius completes $952mn Centerbridge backed MBO

News

M&A

Canopius completes $952mn Centerbridge backed MBO

Canopius has once again become an independent, privately owned (re)insurer following the completion of its $952mn private equity-backed MBO.

Fri 9 Mar 2018

AIG sells remaining $500mn Arch Capital stake

News

Results

AIG sells remaining $500mn Arch Capital stake

Arch Capital Group has launched a secondary offering which will enable operating subsidiaries of AIG to sell almost 5.7mn shares in the Bermuda-headquartered firm.

Fri 9 Mar 2018

News

Energy

Lloyd’s insurer Ark in $57mn PartnerRe energy renewal rights deal

PartnerRe has sold the renewal rights of its leading London market energy insurance book to Lloyd’s insurer Ark, re-Insurance.com can reveal.

Thu 8 Mar 2018

Alpha planned UK insurer launch before regulator intervention

News

Brexit

Alpha planned UK insurer launch before regulator intervention

Alpha Insurance – the Danish insurer that entered run-off earlier this week – had planned to form a licenced UK insurance company, re-Insurance.com can reveal.

Thu 8 Mar 2018

Neon appoints tax underwriter to expand M&A team

News

Legal/ Regulatory

Neon appoints tax underwriter to expand M&A team

Neon has expanded its M&A team with the appointment of Suhail Qureshi as tax underwriter.

Thu 8 Mar 2018

Aspen confirms $125mn ADC and buys more QS and XoL in 2018

News

Results

Aspen confirms $125mn ADC and buys more QS and XoL in 2018

Bermudian (re)insurer Aspen has bought a $125mn adverse development cover (ADC) to protect against prior year deterioration and is buying significantly more reinsurance in 2018 that may inhibit its ability to rebound its net earnings.

Wed 7 Mar 2018

UK Chancellor calls for financial services to be included in EU free trade agreement

News

Brexit

UK Chancellor calls for financial services to be included in EU free trade agreement

Chancellor Philip Hammond has thrown his support behind financial services’ inclusion in any future trade deal with the European Union (EU).

Wed 7 Mar 2018

Oscar winner Branch returns to his underwriting roots

News

A&H

Oscar winner Branch returns to his underwriting roots

US MGU Avoca Risk Underwriting Solutions (Avoca) has hired Chris Branch, the former Beazley executive who has the rare distinction of being an Academy Award winner and an ex-Lloyd’s underwriter.

Wed 7 Mar 2018