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Barbican commissions “next ten years” London market study

News

Rates

Barbican commissions “next ten years” London market study

Lloyd’s insurer Barbican has celebrated its ten-year anniversary today (23 November) by commissioning a year-long study into how the London market may evolve over the next decade.

Thu 23 Nov 2017

TV

Video

Baden-Baden

Baden Baden Reinsurance Meeting 2017 round table

Reinsurance magazine hosted a round table at the 2017 Baden Baden Reinsurance meeting in October, in association with The Russell Group. In this highlights video the panel which included a cross section of leading insurance industry participants discussed the impact of the H2 losses of 2017 on the European market and the lessons to be learned looking towards the renewal season in 2018.

Wed 22 Nov 2017

TV

Video

Kurt Karl on a broad market hardening in 2018

Swiss Re’s Chief Economist Kurt Karl, talking to Reinsurance Magazine (RETV) at the launch of a major report on November 21st, predicted a broad market hardening of rates in 2018.

Wed 22 Nov 2017

Towergate and Price Forbes owner sinks to £100mn 9-month loss

News

Results

Towergate and Price Forbes owner sinks to £100mn 9-month loss

The acquisitive owner of London market wholesaler Price Forbes and UK retail intermediary Towergate has seen its pre-tax losses rise to £98.5mn for the first nine months of 2017 and net debt more than double to £747mn after another busy year of M&A.

Tue 21 Nov 2017

News

Retro

New Bermuda reinsurer targets retro at 1.1

Lutece Re has launched in Bermuda with an immediate focus on the capacity-stretched retro markets.

Fri 17 Nov 2017

UK P&I insurer facing $1bn total limit loss from Prestige spill

News

Legal/ Regulatory

UK P&I insurer facing $1bn total limit loss from Prestige spill

The London Steam-Ship Owners’ Mutual Insurance Association, also known as the London Club, is facing a $1bn damages claim following a Spanish court order yesterday (15 November) in relation to the tanker Prestige sinking and oil spill in 2002.

Thu 16 Nov 2017

InsureTech start-up ChainThat receives major Xceedance investment

News

M&A

InsureTech start-up ChainThat receives major Xceedance investment

The (re)insurance consulting and outsourcing firm Xceedance has made a multi-million dollar investment in ChainThat, a block chain technology firm based in London that was only launched in 2015.

Wed 15 Nov 2017

News

Legacy

R&Q exits support for Syndicate 1991

As Lloyd’s approaches its crucial “coming into line” date, R&Q has disclosed it has reduced its capital support to a “nominal amount” for its former Syndicate 1991 in 2018.

Wed 15 Nov 2017

Neon to launch Nordic platform Orca following JLT hires

News

M&A

Neon to launch Nordic platform Orca following JLT hires

Lloyd’s insurer Neon will launch a Nordic platform, Orca Insurance Services, in 2018 following the hiring of an eight-strong marine team from the Swedish-headquartered underwriting agency Lavaretus Underwriting AB.

Wed 15 Nov 2017

News

Legacy

Legacy acquirer Armour close to another run-off QBE deal

Amour Group Holdings, the Bermudian-headquartered firm that specialises in acquiring books of run-off business, is in advanced talks with QBE to assume an estimated $450mn-$500mn of legacy US commercial auto business, Reinsurance can reveal.

Tue 14 Nov 2017

Lloyd’s approves Agora Syndicate 3268 for 1.1 start

News

D&F

Lloyd’s approves Agora Syndicate 3268 for 1.1 start

Lloyd’s has formally approved Mike Pritchard’s Agora to operate as a full syndicate from 1 January 2018.

Mon 13 Nov 2017

News

Beazley shares up on positive analyst report

Beazley shares were up around 2.5 percent today (10 November) following a positive analysts report from JP Morgan Cazenove.

Fri 10 Nov 2017

Munich Re’s shares rise despite Eur1.4bn 3Q loss

News

Losses

Munich Re’s shares rise despite Eur1.4bn 3Q loss

The world’s largest reinsurer Munich Re predicted rate rises in 2018 as it dropped to an Eur1.4bn loss in the third quarter fuelled by the estimated $100bn of insured losses from the recent catastrophic events.

Thu 9 Nov 2017

News

InsurTech fuelling new entrants in China markets

Asia has become the home of InsurTech innovators as the region inspires greater creativity and product development than other markets, according to Willis Towers Watson (WTW).

Thu 9 Nov 2017

News

Results

Beazley: Up to $300mn in H2 cat losses

Lloyd’s (re)insurer Beazley says it now expects between $200mn-$300mn in net natural disaster claims in the second half of the year in a 9 November trading statement.

Thu 9 Nov 2017

News

Retro

Markel CATCo to raise further $250mn

Markel CATCo, the leading provider of collateralised pillared retro to cat reinsurers, has announced today (8 November) that it plans to raise a further $250mn in its publicly listed fund CATCo Reinsurance Opportunities Fund which will take its total 3Q post-event capital raise to over $2bn.

Wed 8 Nov 2017