PartnerRe posts 97.7% CR despite specialty underwriting lossPartnerRe has reported a combined ratio of 97.7 percent for the first quarter – up from 95.2 percent in Q1 2018 – despite mid-size losses and reserve development pushing the specialty combined ratio to 116.0 percent.
Aon and GC team up to digitize reinsurance placement processBroking powerhouses Aon and Guy Carpenter have been working with The Institutes RiskStream Collaborative on an initiative to use distributed ledger technology (DLT) to streamline the reinsurance placement process.
Trotti to head aviation at McGill & PartnersJLT’s outgoing global head of aerospace Joe Trotti is set to become the latest big name to join Steve McGill’s expansive start-up, McGill & Partners, The Insurer can reveal.
Scor names Jenkins CEO of Americas P&C reinsuranceScor has made a series of internal management changes that include the appointment of John Jenkins as CEO of its P&C reinsurance operations in the Americas.
Bermuda proposes new collateralised reinsurer classThe Bermuda Monetary Authority (BMA) has released a proposal to introduce new classes of fully collateralised reinsurer and a new class of intermediary to reflect the growing interest in insurtech.
Fatt takes up lead construction role at GallagherBroker Gallagher has promoted Stuart Fatt from head of international construction to managing partner of the business unit.
Georgia insurance commissioner indicted over alleged $2mn schemeGeorgia insurance commissioner Jim Beck has been indicted by a federal grand jury on charges of wire fraud, mail fraud and money laundering.
Glass Lewis throws weight behind Voce in Argo battleShareholder proxy group Glass Lewis has backed two of activist investor Voce Capital Management’s nominations for the Argo board, as well as the removal of chairman Gary Woods.
THB swoops on JLT Re for binding authority duoAmWins-owned broker THB has lured two former JLT Re partners, Lee Collins and Adrian Steele, to lead its binding authorities unit.
Clyde & Co launches parametric product for solar energy users Contract will pay out in the event of poor weather
Ontario Teachers, Canadian funds in BMS sale talksOntario Teachers’ Pension Plan (OTPP) is a frontrunner in the sale process for expansive London wholesaler BMS, The Insurer can reveal.
Goldman Sachs frontrunner to buy UK broker Aston LarkThe private equity arm of Goldman Sachs has emerged as the likely winner in the bidding process for UK commercial broker Aston Lark Group and a formal announcement could be imminent, The Insurer understands.
Recruit top talent or get left behind, BIBA’s White warnsThe UK broking sector must do better at recruiting tech-savvy talent as well as attracting the range of skills needed in the fast-changing insurance broking sector, the chief executive of the British Insurance Brokers’ Association has said.
Gard sinks to $53mn loss in 2018Despite reporting a $27mn profit at the half-year mark, the largest of the P&I clubs made a loss of $53mn in 2018 – compared to an after-tax annual profit of $193m in the previous year.
BIBA names Evans to replace Lord Hunt as chairThe British Insurance Brokers’ Association (BIBA) has named former Insurance Minister Jonathan Evans as chair of the trade body, succeeding Lord David Hunt of Wirral whose tenure ends in December 2019.
Beazley introduces cyber cover to marine portfolioLondon carrier Beazley has launched a cyber product to cover loss of hire and physical damage to a vessel in the event of a cyber incident impacting its operational capabilities.
BIBA and Pool Re launch broker guide to terrorism insuranceBritain’s state-backed terrorism reinsurer Pool Re and the British Insurance Brokers’ Association (BIBA) have collaborated with numerous government departments to launch a guide on terrorism insurance, to support brokers’ understanding of the risk class.
AmWINS makes move for Atlantic Risk SpecialistsAmWINS has agreed a deal to buy regional wholesale broker and MGA Atlantic Risk Specialists (ARS), The Insurer can reveal.
Brit Bermuda exec Slater leaves for ConvexRichard Slater has become the latest former XL Catlin executive to join Bermuda-based start-up (re)insurer Convex, The Insurer can reveal.
Turnbull takes over from Pearce at BishopsgateJonathan Turnbull has taken over as CEO of Ardonagh’s London-based Bishopsgate Insurance Brokers subsidiary, according to the company’s website.