Lloyd leaves JLT after 38 yearsLondon market broking veteran John Lloyd is to leave Jardine Lloyd Thompson Group (JLT), the UK broking Group that recently agreed to a £4.3bn takeover from its larger rival MMC, Re-Insurance can reveal…
Markel Intl Mumbai office begins underwritingThe international arm of US specialty (re)insurance group Markel has opened a Mumbai office to position the firm in a market that many predict will be poised for significant growth over the next decade.
Perils pegs Xavier losses at EUR324mnCatastrophe modelling firm Perils said it expects insured losses from Extratropical Cyclone Xavier to top EUR 324mn ($373mn).
Former Maiden CEO Raschbaum receives $2.2mn settlementArturo M. Raschbaum, the former CEO of embattled Bermudian reinsurer Maiden Holdings Ltd, will receive a $2.2mn settlement from the firm he left suddenly in the summer.
US expansion in the cross hairs as Davies revenue up 41%Davies Group is looking to both sides of the Atlantic for potential acquisition targets as the growth hungry insurance group looks to capitalise on increased earnings.
Scor’s share price marches to new high on M&A feverScor’s share price is now up 30 percent in three months and is edging ever closer to the rejected Eur43 offer price that French mutual Covea tabled in August.
Marine market ‘remains in state of flux’: JLTThe marine market in London – and the Lloyd’s marine market in particular - remains in “a state of flux”, according to broking house JLT.
AIG sues Kim Kardashian’s bodyguard for $6mnAIG is attempting to recoup $6.1mn in losses from the former bodyguard of Kim Kardashian West.
Charles Taylor Adjusting expands LatAm reach with FGR buyCharles Taylor Adjusting has acquired Chilean adjusting and claims management business FGR group for an undisclosed sum.
Willis marine veteran Tucker steps downWillis’ long-standing hull and machinery broker Mervyn Tucker is to leave the broking house, Re-Insurance can reveal.
London market insurers claim Iran sanctions prevent claim settlementEleven London market and Lloyd’s insurers are in the UK’s High Court defending their refusal to pay out on a historic Iran-related marine cargo claim due to fears that payment may expose them to a wave of political sanctions.
GIC to retain preferred status as mammoth agricultural treaty expands to $2bnThe rapid growth in India’s agricultural insurance market means GIC Re is now responsible for the industry’s largest non-US agricultural reinsurance treaty with the firm experiencing a doubling of inwards gross premiums for the class in only one year.
Iran exploring ILS market: reportIran is exploring the development of new financial products – including Islamic bonds and insurance-linked securities – in an attempt to relieve pressure on the economy, Reuters has reported.
First quarter ILS issuance up 54 percentFirst quarter ILS issuance activity rose 54 percent in year-on-year as alternative capital markets bounce back after the impact of Hurricanes Harvey, Irma, Maria, according to the Bermuda Monetary Authority.
RenRe shares climb 5 percent as it remains committed to ‘strategic plan’Bermudian carrier RenaissanceRe has responded to calls from activist investors TimeSquare to carry out a review of the carrier and consider the possibility of a sale.
RenRe investors TimesSquare push for saleBlue-chip Bermudian reinsurer Renaissance Re has seen its share price jump today following a call from a long-term shareholder to initiate a sales process.
R&Q inks latest legacy deal with WCIC acquisitionLondon-listed R&Q has agreed to acquire Western Captive Insurance Company Designated Activity Company (WCIC) from the Coffey Group for an undisclosed sum.
International Group names next CEOThe International Group (IG) has appointed Nick Shaw to lead the P&I club.
AFL taps JLT Re for casualty hireIndependent Lloyd’s broker AFL has appointed Julia Moretti as director of casualty.
Canopius names Phoon’s replacement in AsiaCanopius has named Natt Wattanaumphaipong Asia Pacific head of reinsurance.