Editorial Team

RGA appoints Grandmont as VP of strategic underwriting initiatives

The Reinsurance Group of America (RGA) has appointed Scott Grandmont as vice president of strategic underwriting initiatives.

Aon: Hardening market leaves 32% of SMEs with reduced cover

Close to one third of UK SMEs surveyed by broker Aon have observed a reduced availability of insurance cover due to the hardening market.

MS Amlin appoints Baxter as interim CUO in underwriting leadership revamp

Lloyd’s carrier MS Amlin has unveiled a new senior underwriting leadership team following Andrew Carrier’s move from CUO to CEO.

GRP appoints Chris Haggart as CEO of Hedron Network

Brown & Brown-owned UK intermediary Global Risk Partners (GRP) has appointed Chris Haggart as the CEO of Hedron Network (Hedron), subject to regulatory approval.

Darag hires GC’s Wagner to lead European M&A

Legacy specialist Darag has named Til Mathis Wagner as head of M&A for Europe.

QBE rebrands its Asia P&I office as British Marine

QBE rebrands its QBE Asia P&I office in Singapore as British Marine, effective 1 January 2023.

Chubb bolsters its North America financial lines division with four senior promotions

Chubb has announced the promotion of four senior executives in its North America financial lines division, including Jarrod Schlesinger’s appointment as chief operating officer.

Former AIG FP execs demand over $500mn despite almost killing AIG with toxic CDS trades

A handful of former employees of AIG Financial Products (FP) - the unit which brought AIG to its knees in the 2008-09 Wall Street financial crisis - are demanding over $500mn of “deferred compensation” from the subsidiary some fourteen years after their actions led to the insurance giant parent requiring a mammoth Federal rescue.

Florida insurers combined ratio takes 27.5 point hit after stormy year

Florida personal lines property insurers’ aggregate combined ratio deteriorated by 27.5 points year on year during the first nine months of 2022, according to analysis by Gallagher Re.

Gallagher acquires Brazil-based broker Interbrok Group

Arthur J Gallagher has acquired Brazil-based broker Interbrok Group, with terms of the transaction undisclosed.

Dubai regulator DIFC grants Sukoon’s Syndicate 2880 an operating licence

The Dubai International Financial Centre, a financial hub for the Middle East, Africa, and South Asia (MEASA) region, has granted an operating licence to Sukoon’s Syndicate 2880.

AM Best: Florida HO reforms positive long-term but immediate issues remain

The wide-reaching property insurance reforms signed into law by Florida governor Ron DeSantis late last week will hopefully bring much sought-after relief to carriers from the issues that have plagued the Sunshine State over the long-term, but AM Best has warned that challenges remain for now.

Axa XL Re promotes Abend to newly expanded role of head of property, Bermuda

Axa XL Re, the reinsurance arm of Axa XL, has promoted Tristan Abend to the newly expanded role of head of property, Bermuda.

Gallagher agrees to acquire Buck for approximately $660mn

Arthur J Gallagher (Gallagher) has agreed to acquire Buck, a provider of retirement, HR and employee benefits consulting, for a gross consideration of $660mn.

WTW restructures North American CRB business

WTW has launched an internal restructure of its North American corporate risk and broking (CRB) business, in a move the broker says will enable an increased focus on industry specialisation.

WTW names Haddrill as regional head of broking for CEEMEA

WTW has named Tom Haddrill as its regional head of broking for Central and Eastern Europe, Middle East and Africa (CEEMEA), effective 20 February 2023.

AM Best affirms Conduit Re’s FSR of A- and long-term ICR of ‘a-’

AM Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the long-term issuer credit rating (long-term ICR) of ‘a-’ (Excellent) of reinsurer Conduit Re, both with a stable outlook.

BMS names Duffy as strategic adviser to its UK specialty business

Specialist broker BMS has named Canopius’ Mike Duffy as a strategic adviser to its UK specialty business, effective January 2023.

Pool Re welcomes UK’s terrorism focused Protect Duty legislation

British terrorism reinsurer Pool Re has given its backing to the UK government’s upcoming Protect Duty legislation, also known as Martyn’s Law, and is set to provide the market with an update in the new year as to how to prepare for its introduction.