Scor to use Lloyd’s and company paper in ‘flexible way’ after overhaulThe deputy CEO of Scor has said that a major overhaul of its London businesses will give the reinsurance giant the ability to use the paper of its Lloyd’s syndicate Channel and its company market paper “in a flexible way”.
Binders broker Spicer the latest to leave MillerProgrammes and facilities broker Luke Spicer has left London wholesaler Miller for rival Bishopsgate, re-Insurance.com can reveal.
Ed bolsters marine division with Lloyd and Partners hireBroking house Ed has strengthened its marine team with appointment of Patrick Jordan as divisional director.
Everest’s Q2 reserve charge hits profits as top line swellsEverest Re’s top line ballooned in a second quarter that saw its bottom line severely dented by a $250mn after tax charge to bolster reserves against last year’s catastrophes.
ILS syndicate Arcus reshuffles after departuresCredit Suisse’s Lloyd’s platform, Arcus 1856, has announced a series of internal promotions and the appointment of an interim lead underwriter following recent senior departures.
Accredited signs largest US program deal yetLondon-listed R&Q Group has inked its largest yet program underwriting partnership with the fast-expanding Californian program administrator, Atlas General Services Insurance.
High M&A multiples not deterring AJG acquisitionsThe high price tag for mergers and acquisitions in the insurance industry is not deterring Arthur J Gallagher from buying up smaller broking houses, the firm’s chairman, president and CEO has said.
Axis launches insurtech business unitBermudian carrier Axis has launched Axis Digital Ventures, a new arm of the business that will focus on adopting new technologies across the group.
CNA narrowly beats analyst expectations in second quarterCNA Financial (CNA), the eighth largest commercial insurer in the US, has narrowly surpassed the expectations of analysts to deliver a net income of $270mn in the second quarter.
Hiscox shares jump as H2 profits and premiums leapShares in London-listed (re)insurer Hiscox leapt this morning as investors welcomed the strong results posted by the carrier in the first half of the year.
Validus swings to loss as AIG takeover completesValidus has posted a loss of $32.9mn in the second quarter, a week after AIG completed its all-cash $5.56bn acquisition of the Bermudian (re)insurer.
The Hartford’s talcum powder liabilities excluded from Nico $1.5bn ADCBerkshire Hathaway has excluded talcum powder-related exposures from the $1.5bn adverse development cover (ADC) it struck with The Hartford in late 2016.
Darag scores EUR260mn boost from private equity pairRun-off acquirer Darag has earned a EUR260mn ($303.4mn) investment from a pair of private equity houses just a week after its new CEO Tom Booth took his seat in the office.
2017 losses will no longer engage The Hartford cat agg programThe Hartford will no longer benefit from recoveries under its 2017 catastrophe aggregate treaty as its gross loss estimates have declined throughout the year.
The Hartford shares fall as it confirms M&A appetiteDespite posting consensus-beating Q2 results last week, The Hartford’s share price closed down 2.3 percent on Friday (27 July) after it confirmed a strategic focus on M&A rather than share buybacks.
PartnerRe’s top line leaps 13% as combined ratio suffersPartnerRe saw gross non-life premiums in the second quarter swell by 13 percent to $1.25bn as the group’s combined ratio gained 6.1 points to hit 93.8 percent.
Rivera replaces Williams as Tokio Marine HCC CEOThe CEO of Tokio Marine HCC Christopher Williams is to step down from the helm of the carrier in September to be succeeded by Susan Rivera.
AJ Gallagher sees organic revenues grow 5.9% in Q2Organic revenues in Arthur J Gallagher’s broking division climbed by 5.9 percent in the second quarter as the company’s CEO pointed to rate increases across almost all lines.
Reserve releases help The Hartford to beat expectations in Q2The Hartford managed to exceed the expectations of analysts with a $412mn profit in the second quarter after receiving a boost from reserve releases and better results in its commercial lines division.