Scor launches Paris-based European insurer to mitigate Brexit falloutReinsurance powerhouse Scor has launched Scor Europe SE, a Paris-based P&C specialty insurance company designed to mitigate any business fallout following the UK’s departure from the European Union.
MS&AD sends $2.5bn Q3 bill to cat reinsurersMS&AD will recover $2.5bn from its cat reinsurers from the roll-call of loss events that hit the country in 3Q, more than its two big domestic rivals Sompo and Tokio Marine combined.
Further delay in publication of FCA wholesale broker probe findingsThe Financial Conduct Authority (FCA) has once again pushed back the publication date of the initial findings of its wholesale insurance broking study to the first quarter of next year.
Lloyd’s COO Khoury-Haq to leave in 2019Lloyd’s chief operating officer Shirine Khoury-Haq is to leave the Corporation in the first half of 2019 after nearly 5 years in Lime Street.
Mapfre invests $28.5mn in Madrid-based tech venture fundSpanish (re)insurer Mapfre is to invest EUR25mn ($28.5mn) in Madrid-based B2B tech venture fund Alma Mundi Insurtech Fund.
Kuwait Re’s nine-month profit climbs 7 percentKuwait Re posted an after-tax profit of KD2.97mn ($9.83mn) for the first nine months of 2018, thanks to a 33.7 percent increase in net earned premium.
Arch names Sturgess international insurance CEOArch has named Hugh Sturgess as CEO of Arch Insurance International, effective 1 January 2019, succeeding Matt Shulman, who was recently named CEO of Arch Insurance North America.
Generali shares rise on new strategic planItalian insurance heavyweight Generali has pledged to pay higher dividends while unveiling a plan today to extend its global reach into the higher-growth markets of Asia and Latin America.
Swiss Re estimates 2018 insured nat cat losses at $60bnThe (re)insurance industry is currently on course to incur circa $60bn of insured losses from 2018 cat events, according to Swiss Re’s head of insurance research.
JLT Re chairman Howard to take Guy Carpenter roleMMC is unveiling the next wave of integration ahead of the completion of its £4.3bn JLT acquisition next year with the appointment of JLT Re chairman Ross Howard to the post of Guy Carpenter vice chairman, while JLT Re CEO Mike Reynolds exits the intermediary.
DARAG acquires US joint venture partner SOBCAmbitious European legacy firm DARAG has consolidated its US platform by acquiring the shares of its joint venture partner, SOBC Services.
AXA XL buys out Stone Point and Mitsui interests in New OceanAXA XL has taken its majority-owned asset management arm New Ocean Capital Management in-house with a deal to buy-out minority interests held by Stone Point and Mitsui.
Beazley, AEGIS and Allied World lead first-ever PPL league tableSyndicates managed by Beazley, AEGIS and Allied World lead the first published league table of Lloyd’s adopters of PPL, the e-placing platform that is being rolled out in the London subscription market.
WTW unveils new chairmanVictor Ganzi, the president of the PGA Tour and former CEO of US media conglomerate Hearst Corp, will replace James (Jim) McCann as chairman of the Willis Towers Watson (WTW) Board from 1 January 2019.
Ryan Group MGA Lodestar in talks with new capacity after RSA withdrawalLodestar Marine Ltd, the London-based fixed premium P&I MGA, is negotiating with fresh capacity following the decision by UK insurer RSA to withdraw from a number of London market classes.
High Court approves TME’s Part VII transferThe High Court of England & Wales has approved the so-called Part VII process for Lloyd’s insurer Tokio Marine Kiln (TMK) to transfer its portfolio of Continental European liabilities to its new Luxembourg subsidiary, Tokio Marine Europe SA (TME).
MS Amlin partners with Folgate for 2019 relaunchUK insurer Folgate has entered into a co-insurance deal with MS Amlin in as the formerly-defunct insurer prepares to underwrite live risks once again.
RMS pegs Cali wildfire insured losses up to $13bnRMS estimates the total insured losses from the Camp and Woolsey wildfires which devastated parts of California last week will be between $9bn and $13bn.
Brit launches onshore ILS platform Sussex Capital UKFairfax Financial-owned Lloyd’s insurer Brit Ltd has launched the first transformer vehicle under the UK’s new ILS regime to provide collateralised reinsurance capacity to multiple cedants.
Cal Phoenix Re cat bond priced as total lossThe $200mn Cal Phoenix Re Ltd ILS is being priced as an effective total loss in the secondary cat bond market which also suggests investors believe PG&E’s $1.4bn insurance program will be totalled by the ferocious Californian Camp fire.