Ed not under pressure to find a buyer: HearnThe boss of London-headquartered broker Ed Steve Hearn has said that its owners Lightyear Capital were not pressuring his firm into a speedy sale.
Florence bears down on the Carolinas as Cat 4 hurricaneHurricane Florence continues to strengthen and an ”historic” landfall in the Carolinas, where State Farm dominates the homeowners market.
MS Amlin back new cyber reinsurance start-up Envelop RiskMS Amlin is backing the cyber (re)Insurance start-up Envelop Risk with capacity to formally support its facility which begins later this year.
AIG sees 'a lot of runway' in ILS: DuperreaultThere is major scope for AIG to build products for the insurance linked security (ILS) market, AIG’s president and chief executive officer Brian Duperreault has said.
JLT Re: no surprise that HIM losses sparked only modest rate liftExcess capital, modest loss development from last year’s cat losses and the relatively benign H1 have combined to suppress positive reinsurance rate momentum throughout 2018, analysis from JLT Re demonstrates.
Fears mount over scale of Typhoon Jebi lossTyphoon Jebi, which pounded Japan last week, looks set to hit the lower layers of the cat excess of loss treaties bought by the Japanese “big three” insurers MS&AD, Tokio Marine and Sompo Japan Nipponkoa.
Frankland hails Hancock reforms but criticises expense burdenAon’s UK reinsurance head has praised the actions of Lloyd’s performance director Jon Hancock in tackling the markets poor performers as an “essential” first step to forcing down the Lloyd’s expense ratio “burden”.
Dale Syndicate 2525 bucks Lime Street trend with expansion planDespite Lloyd’s strong-arming top line reductions for the majority of trading syndicates next year, the Dale Syndicate 2525 is aiming to increase its stamp capacity by 7.5 percent.
Aon’s Andersen: Retiring the Benfield brand a ‘natural next step’The newly-anointed co-president of Aon, Eric Andersen, has said the firm’s decision to retire the Aon Benfield and Aon Risk Solutions brands was the “natural next step” in its evolution as a global professional services firm.
$5bn-$6bn Typhoon Jebi to hit reinsurance treatiesTyphoon Jebi, which pounded Japan last week, is the largest cat loss of 2018 to date with early unofficial estimates of an insured loss of $5bn-$6bn.
Scor’s Kessler backs Lloyd’s CEO pick and dismisses M&A talkThe CEO of French reinsurance giant Denis Kessler has applauded Lloyd’s of London for its choice of John Neal as the next CEO as he fended of M&A speculation.
Florence upgraded to Hurricane as chance of US landfall growsTyphoon Florence is now expected to develop into a major hurricane as it nears the US East coast, with impacts including damaging winds, storm surge, heavy ocean swell, and rainfall.
‘Scor doesn’t need to merge’: KesslerScor’s CEO Denis Kessler has shrugged off speculation the French reinsurance powerhouse would enter into any M&A talks in the wake of an unsolicited EUR8.3bn takeover offer from Covea.
Aon launches capital advisory team to strengthen insurer revenuesAon has launched a capital advisory unit within its Reinsurance Solutions division to help (re)insurers, Lloyd’s syndicates and captives ‘fine tune’ their balance sheet and boost capital optimisation.
No slow down of M&A expected: Willis Re’s KentThe pace of M&A in the industry is not expected to slow down any time soon, James Kent the global CEO of Willis Re has predicted.
Conflict between insurers and reinsurers intensifyingReinsurers continuing to move into the primary markets is prompting growing tensions between them and insurers, the chairman of Willis Re International James Vickers has warned.
Introducing the new man on the Lloyd’s stageJohn Neal is clearly a man who relishes a challenge. Not content with a bruising five years at the helm of QBE, a tenure which included four profits warnings and some unwelcome attention on his private life, last week he accepted what Re-Insurance believes is arguably the toughest job in the industry. He will become CEO of the Lloyd’s Corporation and the man tasked with leading a turnaround in the market’s fortunes.
Antares and Qatar Re in talks to combine 2019 reinsurance spendLloyd’s insurer Antares and its sister firm Qatar Re are mulling both the integration of their back office capabilities and combining their reinsurance buying in the next chapter of a 2018 efficiency drive at the group.
Aon heads 2017 reinsurance broker league tableAon’s reinsurance arm remains the largest reinsurance intermediary by some distance in a survey conducted by re-Insurance that uses a combination of publicly available information and market intelligence.
Antares and Qatar Re mull reinsurance merge as integration continuesQIC-owned sister (re)insurers Antares and Qatar Re are mulling both the integration of their back office capabilities and combining their reinsurance buying in the next chapter of a 2018 efficiency drive at the group.