Pool Re expands Munich Re led XoL treaty to record £2.1bnPool Re has once again expanded its excess of loss treaty to a new record size of £2.1bn and extended the cover to include an element of cyber coverage, the UK state-backed terrorism mutual has confirmed today.
Christian steps down as Aon UK CEO to take new global chairman roleDominic Christian, the senior London market figure who oversaw the integration of Aon Re and Benfield following the latter’s acquisition in 2008, is stepping down from his role as CEO of Aon UK
Legacy 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…
US 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.
Quest 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.
Pioneer founder Doherty bows outLondon MGA Pioneer’s long-serving CEO and founder Darren Doherty is to depart the company.
Claims to be next priority for TOM initiativeThe London Market Group (LMG) has said that claims transformation will become the next focus for the Target Operating Model (TOM) in 2018.
Axa combined ratio falls to 94.6% as commercial lines improveFrench insurance giant Axa saw its combined ratio improve marginally by 40 basis points to 94.6 percent for 2017.
RSA’s UK unit clocks 102% combined ratio as it vows to bounce backRSA’s UK business reported a full-year combined ratio of 102 percent for 2017 as storms and domestic floods took their toll on the unit’s bottom line.
Tysers delays dividend as Integro sale talks drag onIndependent London market broker Tysers has warned shareholders not to expect the year-end dividend to be distributed in February as sale talks with potential acquirer Integro drag on, re-Insurance.com has learned.
Greenlight Re weighing Lloyd’s syndicate launchCayman-based hedge fund reinsurer Greenlight Re is considering setting up a syndicate at Lloyd’s as the company seeks to establish itself as a serious player in specialty classes.
MGAA adds Tempo’s Del Carlo to boardThe Managing General Agents’ Association (MGAA), the trade organisation for MGAs, has appointed Marco Del Carlo, managing director of Tempo Underwriting, as a new board director.
Chicken joined by more hires in BMS’s new energy divisionLondon market wholesaler BMS has made two further appointments in its newly-formed primary market energy division.
IG reinsurance cover incepts as group mulls broker changeAs the clock ticks over this evening into the 20 February there will likely be a few celebrations ringing around the marine P&I world as the International Group’s (IG) $3bn cover for the coming year finally incepts.
Mariners brace for $100mn+ Sanchi pollution lossThe marine P&I market is facing hundreds of millions of dollars in environmental pollution losses from the sinking of the Iranian-flagged Sanchi ship which went down with around 1 million barrels of crude oil onboard in the East China Sea last month, re-Insurance.com understands.
Division where unity is required…The anti-insurer headlines are easy to imagine. A terrorist once again uses his vehicle to maim and kill and – in the aftermath of the atrocity – the notoriously aggressive British tabloid press seize on the revelation that UK motor insurers have recently changed their coverage to exclude liability for terrorist attacks.
More details emerge on Nexus mooted stake saleNexus’ recently-announced “shareholder liquidity event” is likely to take the form of a non-management individual share sale despite speculation that the MGA was weighing an IPO or full sale.
Carriers finally ‘called time’ on rate reductions: Willis“Already on the ropes and fatigued” (re)insurers have finally “responded to the towel entering the ring” to call time on rate reductions, according to a report from Willis Towers Watson.
Lancashire execs buy stock after heavy fallsA number of Lancashire’s leading executives and directors bought up shares in the carrier as trading came to a halt last Friday following a week in which a catastrophe-scarred set of Q4 results sent the stock down over 14 percent.
Nexus appoints Panmure Gordon as it eyes stake saleLondon-based managing general agent Nexus has appointed investment bank Panmure Gordon as it ramps up efforts to sell a portion of the business, re-Insurance.com understands.