NewsLegal/ RegulatoryExin faces losing EUR5mn if Ethniki deal fails to completeMatt Fairfield’s Exin could be hit with a EUR5mn ($6.1mn) break clause if its faltering EUR720mn deal to buy Greek state-owned insurer Ethniki fails to complete.Wed 28 Feb 2018
NewsLegacyLegacy gold rush continues with Quest’s $300mn+ Bermuda buildRe-Insurance.com tracks all the fund-raisings in 2017-18 as interest in the discontinued sector continues to grow…Wed 28 Feb 2018
NewsResultsMaiden shares plunge as investors punish AmTrust reserve chargeShares in Maiden plunged by as much as 16 percent in early morning trading in New York as investors pummelled the Bermudian reinsurer for a $139mn reserve charge on a book of business written by its sister company AmTrust.Wed 28 Feb 2018
NewsRatesJLT’s Burke calls hopes for hardening market ‘premature’JLT CEO Dominic Burke has warned burgeoning optimism over a market shift towards rising prices is ‘premature’ despite signs of an uptick following the catastrophes of 2017.Wed 28 Feb 2018
NewsResultsProperty drags insurance prices up for first time since 2013: MarshA roughly 3.2 percent rise in global property insurance prices following last year’s catastrophes has pulled overall market rates up for the first time since Q1 2013, research from Marsh has found.Wed 28 Feb 2018
NewsResultsUS and LatAm push JLT insurance revenues up 5%Organic revenues at London-listed broker JLT’s insurance businesses rose 5 percent last year as a strong performance in Latin America and continued growth in the US helped it to a £192mn ($266.8mn) underlying profit.Wed 28 Feb 2018
CommentLegal/ RegulatoryReputational riskIn February the broker Lockton became the latest US company to bow to pressure to boycott the National Rifle Association (NRA) following a mass shooting at a school in Florida earlier this month that left 17 people dead.Tue 27 Feb 2018
NewsLegacyQuest to launch $300mn+ Bermuda run-off vehicleLegacy acquirer Quest Group is poised to launch a new Bermudian run-off vehicle with more than $300mn of capital, re-Insurance.com understands.Tue 27 Feb 2018
NewsPRA ‘not going to go soft’ on Solvency II despite UK insurer consultationThe deputy governor of the Bank of England and head of the Prudential Regulation Authority (PRA) Sam Woods has warned insurers that the regulator is not about to soften its overall approach to Solvency II despite an ongoing review over its impact.Tue 27 Feb 2018
NewsLossesNat Gen beats despite $53mn wildfire lossNational General beat analysts expectations to deliver a $30mn operating profit in the fourth quarter despite taking a $52.9mn hit from the wildfires that ravaged California late last year.Tue 27 Feb 2018
NewsLossesLiberty Mutual Specialty profits absorb heavy cat lossesBoston-based Liberty Mutual’s specialty division reported pre-tax operating income of $92mn for the fourth quarter despite its share of the period’s catastrophes nearly doubling to $120mn year-on-year.Tue 27 Feb 2018
NewsResultsIrish Central Bank places CBL under administrationFollowing a similar move by its counterpart in New Zealand, the Irish regulator has petitioned the country’s high court today (26 February) to appoint an administrator for CBL’s European operations.Mon 26 Feb 2018
NewsResultsCBL’s downfall: As it happenedThings appeared to be going pretty well for CBL this time last year when it announced its 2016 results.Mon 26 Feb 2018
CommentLegacyAngerstein: Gala InvitesFresh from the collapse of his insurance company CBL, will CEO Peter Harris still go to Monte Carlo later this year to represent NZ in the world entrepreneur of the year competition? Angerstein suspects not…Mon 26 Feb 2018
AnalysisLegacyWhy Gibraltar’s French construction storm may spread beyond CBLWhy has the French construction class “dommages-ouvrage” blown a hole in CBL’s balance sheet and will other (re)insurers be affected?Mon 26 Feb 2018
NewsResultsArmour Group steels itself for potential CBL regulatory twin fightReinsurance capital likely to be trapped in two regulatory jurisdictions which could complicate collections…Mon 26 Feb 2018