Ardonagh’s results hit by £51mn Towergate compensation billArdonagh Group’s dismal £260.9mn 2017 FY loss was exacerbated by a more than £50mn charge thought to be related to claims against one of its companies Towergate, which was forced to payout millions in compensation over a pensions advice scandal.
Envelop Risk to launch Bermuda cyber platform with Chatterjee hireHannover Re’s Bermuda-based cyber expert Aritra (Ari) Chatterjee has joined start-up Envelop Risk as chief underwriting officer and will launch an underwriting platform on the island later this year, re-Insurance.com can reveal.
MGA NuVu Underwriting launches in Hong KongFormer Nexus Asia CEO Jeremy Austen has joined HWI International Group to launch NuVu Underwriting, a managing general agent based in Hong Kong.
AM Best affirms Accredited’s A- ratingAccredited Surety & Casualty Company Inc (Accredited), the US insurance arm of London-listed R&Q, has had its AM Best A- (excellent) rating affirmed yesterday (6 April).
Oscar winner Branch returns to his underwriting rootsUS MGU Avoca Risk Underwriting Solutions (Avoca) has hired Chris Branch, the former Beazley executive who has the rare distinction of being an Academy Award winner and an ex-Lloyd’s underwriter.
CBL’s Harris withdraws from MC gala eventWith a soothsayer ability to make Mystic Meg blush, Angerstein predicted last week that there may be one empty seat at the prestigious EY World Entrepreneur of the Year awards in Monte Carlo in June 2018.
CBL boss withdraws from EY entrepreneur of the year competitionPeter Harris, the managing director of collapsed New Zealand insurer CBL, has withdrawn his entry from the World Entrepreneur of the Year competition which takes place in Monte Carlo later this year.
Denmark’s Alpha Insurance in run-off as CBL contagion spreadsDenmark’s Alpha Insurance has entered into run-off with immediate effect as the contagion from last month’s collapse of New Zealand’s CBL Group spreads.
Asta offloads its Pelican MGA to Manchester UnderwritingAsta has sold one of its managing general agents (MGA) Pelican Underwriting to Manchester Underwriting Management (MUM), a specialty-focused pen holder.
Why 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?
Pioneer founder Doherty bows outLondon MGA Pioneer’s long-serving CEO and founder Darren Doherty is to depart the company.
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.
Nexus acquires D&O MGA Apsley SpecialtyThe up-for-sale London-based managing general agent Nexus has acquired a smaller rival in the financial institutions space Apsley Specialty.
Volante launches second MGA targeting Nordic marketVolante Global, the MGA platform led by Talbir Bains, has launched its second MGA of 2018 - Bridge Underwriting.
Volante swoops on QBE for chief actuarial officerVolante, the recently-launched multi-class MGA platform founded by Talbir Bains, has appointed Chris Drew as chief actuarial officer.
Nexus preps for sale by hiring ex-AmTrust CUOLondon-based specialty MGA Nexus has revealed plans to sell a portion of its equity as it announced that former chief underwriting officer for AmTrust’s Lloyd’s operation had joined to run its insurance and reinsurance operations.
Hyperion earnings climb by almost a quarter to £152mnHyperion, which owns Howden, RKH and Dual, saw profits climb by 24 percent to £152mn ($205.4mn) in the 12 months leading up to the end of September last year.
R&Q's CEO-elect departs in major restructureTom Booth, the CEO-elect of the London-listed insurance group R&Q, has resigned as a director with immediate effect and will be leaving the organisation to “pursue alternative opportunities”, the firm announced this morning (8 January).
Beale to replace Philipps as MS Amlin CEOSimon Beale, MS Amlin’s Chief Underwriting Officer, will succeed Charles Philipps as CEO at the (re)insurer following his retirement in April.
Ed hires Clarkson-led marine teamHeather Clarkson, a senior London market Aon marine executive, joins the private equity backed wholesaler Ed in early 2018 to become the managing director of the broker’s marine practice, Reinsurance can reveal.