Carnegie-Brown: Six requirements for next Lloyd’s CEOThose who care about Lloyd’s are assured about the way chairman Bruce Carnegie-Brown is leading the process to select the Corporation’s next CEO.
The Hartford the latest to tap into Lloyd’s with Navigators acquisitionWith the news this morning that The Hartford has inked a deal to acquire Navigators, another Lloyd’s business could find itself in the hands of an international insurance giant.
Lloyd’s 2017 loss deteriorates by £400mn fuelled by IrmaLloyd’s net loss for 2017 has climbed by £399.9mn as a number of syndicates have had to bolster reserves following additional claims notifications from last year’s cat losses and, in particular, Hurricane Irma.
Maiden’s voyage Bermuda’s Maiden has veered off course and appears to be going in a very different direction.
Aspen cedes 50 percent more premium to reinsurersUp-for-sale Bermudian Aspen reported a small second quarter earnings miss yesterday (1 August) while revealing the impact of a major de-risking of its gross exposures following last year’s heavy losses.
XL begins de-risking ahead of Axa takeoverXL Group has accelerated the de-risking of its book by ceding more business to reinsurers and significantly reducing its maximum loss exposures to US cat events, re-Insurance.com’s analysis of the Bermudian firm’s second quarter results shows.
If you’re brave buy the Q2 disappointments...Although we are less than half way through the second-quarter reporting season, investors have already proved that they have a short fuse when when it comes to any perceived disappointments in company results.
It’s more than just price pushing insureds to capital marketsA group of senior risk managers and insurance buyers have threatened to leave traditional insurance markets if the available coverage does not adapt to reflect changes in how businesses operate.
The 18 frontrunners to replace Inga BealeFollowing the announcement on Friday that Lloyd’s CEO Inga Beale will leave the Corporation later this year, re-Insurance.com looks at the likely candidates that will be considered by the Corporation’s chairman Bruce Carnegie-Brown to succeed her…
Merck $275mn loss tops league table of insured cyber eventsRe-Insurance.com’s revelation earlier this week that Merck may still look to recoup hundreds of millions of dollars of cyber losses from insurers on its $1.75bn property program would see the bill for the US pharmaceutical firm’s NotPetya hit dwarf any other insured cyber loss.
AmTrust: The Winners and LosersAfter weeks of wrangling and looming uncertainty about whether or not it would get over the line, AmTrust’s CEO and his wife’s family have finally won out in their bid to take the firm private in a $2.95bn deal with Stone Point which has faced substantial opposition from activist and minority investors.
Rising yield rates make short-term dent on Q1 carrier earningsIf one of the main themes of the recent results season was the signs of upward rate movements after last year’s cat events, a sub-theme was the typically poor investment return of many carriers and the impact of rising interest rates on fixed income portfolios in Q1 2018.
PE interest in London brokers blooms again despite challengesJC Flowers’ acquisition of niche London market brokers SSL and Endeavour marks a growing trend of private equity firms purchasing stakes in distributors, with a particular flurry of activity sweeping the London market.
Berkshire Hathaway’s return to insurance profit outshines equity lossIt is never nice to post a $6.2bn loss in your equity portfolio in one quarter - least of all when you are Berkshire Hathaway, the company famous for its stock picking boss - but that load looks a little lighter when your (re)insurance operations return to profitability and it dawns that the loss is really a matter of accounting.
Reinsurers fail to secure meaningful Florida rate hikesTalk of meaningful reinsurance rate hikes for Florida business appear to have resulted in very little actual movement in price as details of the key 1.6 renewal start to emerge.
US and Bermuda carriers strong out of the blocks for Q1Early reporting US and Bermudian (re)insurers have posted a strong underwriting performance for the first quarter despite a spate of catastrophes across North America which have blighted the results of several outliers.
Looking at the wrong A?With Aspen first round bids due at the end of this week, Re-Insurance.com looks at its larger Bermudian peer Axis which has a more credible track record, trades on a lower multiple and owns a better insurance franchise.
Reinsurers run 105 percent combined ratio for 2017The reinsurance sector posted a hefty 104.8 percent combined ratio last year as the market was stung by $144bn of losses from natural catastrophes, broker Willis Re has said.
It’s bad out there… but is it that bad?Many ILS investors take a very binary approach and M&A is encouraging a de-leveraging effect. Florida 1.6 renewals may be disappointing but there are still grounds for optimism…
Lloyd’s sale rush raises existential questionsThe recent influx of Lloyd’s platforms onto the M&A market has raised a plethora of issues for what the sales rush means for the future of the market - as well as what the sudden spike in supply could do to already frothy takeout multiples.