CNA swoops on AIG for global reinsurance execCNA has named Mark James as senior vice president for global reinsurance.
Marsh’s Roscoe among first to go in cost cutting driveMarsh managing director and head of sales for global specialty Nick Roscoe has become one of the first victims of the broker’s fierce cost-cutting campaign, re-Insurance.com understands.
Everest Re reveals $100mn Q1 cat hit as California fire losses deteriorateBermudian reinsurer Everest Re has said it expects to take around $100mn in catastrophe losses in its Q1 results, largely due to deterioration in loss estimates for the California wildfires which scarred swathes of the state last autumn.
Beazley looks to grow Asia Pacific operations with regional new headBeazley has appointed Lucien Mounier to head its Asia Pacific operations based out of Singapore.
Steer hands over Compre reins to joint CEOsWill Bridger and Mark Lawson have taken over as joint CEOs at run-off specialist Compre.
Marsh combines Middle East and Africa ops amid global restructureMarsh has opted to combine its Middle East and African units, the broker announced today (11 April), just one day after its CEO John Doyle spoke to employees in a global conference call about plans to restructure its business globally.
Accredited inks new 2018 US program partnership dealR&Q’s US insurer Accredited Surety & Casualty Company (Accredited) has inked a new program partnership deal for 2018 and predicts a flurry of additional transactions in the next few months.
QBE promotes Singh to group CFO as Ford exits in management shake upAustralian carrier QBE has named Inder Singh as its new group chief financial officer (CFO), replacing Michael Ford who is leaving the company.
Swiss Re chalks up 2017 as biggest cat-loss year on recordInsured losses incurred in 2017 are estimated to stand at $144bn, making it the biggest cat loss year on record, according to Swiss Re’s latest Sigma report.
Maersk Honam cargo losses to cost insurers up to $100mnCargo losses stemming from the fatal fire that gutted a Maersk ship in March are expected to fall in the $75mn to $100mn range, re-Insurance.com understands.
FCA looks into ‘informal’ information sharing in wholesale broking reviewThe UK regulator has asked whether brokers “informally” share information about tenders in its wide-ranging probe into the wholesale market, re-Insurance.com revealed on Friday (6 April).
Barbican and Howden pursued by Danish guarantee fund after Gable failureLloyd’s insurer Barbican and broker Howden have become the latest to find themselves ensnared in the growing construction liability crisis, re-Insurance.com understands.
Darag taps R&Q’s Booth as chief execGerman legacy acquirer Darag has approached Tom Booth, who was on the cusp of becoming the CEO of R&Q, to take the helm after a EUR100mn capital raise, re-Insurance.com understands.
Russia targets big three brokers in 'investigation' over sanctions dodgingThe Russian authorities appear to have taken aim at the big three reinsurance brokers’ dealings in the country after a report in a state-run newspaper said the companies’ dealings with the Russian National Reinsurance Company (RNRC) were under “investigation” by the Interior Ministry.
Marsh CEO Doyle to reveal restructure plans as staff cuts loomMarsh employees will today (10 April) face the first of many days of reckoning in a global conference call with the broking giant’s boss to discuss details of a restructuring that was first revealed by re-Insurance.com in March.
AmTrust filing says poor performance led to $2.7bn take-private dealAmTrust’s abysmal performance last year was cited as one of the key reasons that the company’s board voted to approve a $2.7bn offer to take the carrier private that was tabled by its CEO, his in-laws and their capital backers StonePoint, it has emerged.
Catalina paid $272mn for Hartford UK run-off booksLegacy acquisition heavyweight Catalina paid The Hartford $272mn last year to acquire its UK run-off businesses, a sum which suggests a discount to their book value.
Beazley’s Andrew Horton named LMG chairThe London Market Group (LMG) has appointed Andrew Horton, CEO of Beazley, as the chair of the organisation.
Aon Benfield structures $1bn aviation reinsurance programme for US Exim BankThe US Export-Import Bank (Exim) has purchased a $1bn limit reinsurance programme backed by the private market for the first time after working on the placement with broker Aon Benfield.
FCA cuts back on investigations to focus on BrexitThe Financial Conduct Authority (FCA) has set out plans to scale back activities that aren’t directly impacted by Britain’s departure from the European Union.