PPL used to close Aon Client Treaty facilityPPL has been used to close the Aon Client Treaty facility for 2018, which it claims is one of the largest and most complex transactions in the Lloyd’s market.
Enstar snags $1.1bn Novae legacy bookEnstar has won a bidding war to take on Novae’s £840mnn ($1.1bn) legacy book, the company announced today (29 January).
Alesco adds two partners to energy unitLloyd’s broker Alesco has hired Alison Schwab and Mark Smith as partners for its energy division, the company announced today (29 January).
JLT Re calls out modeling firms over mismatched storm estimatesJLT Re has called into question the credibility of the major risk modelling firms after they failed to reach a consensus on the cost to the industry of hurricanes hitting one of the best-mapped corners of the planet.
Exin says “no funding shortfall” in Ethniki bidExin founder Matt Fairfield has robustly denied that his firm’s $1.1bn bid to acquire Greek insurer Ethniki is in jeopardy and says he has all the necessary funding in place.
Almost $1bn of cat bond capacity hit by 2017 cats: WillisWillis Towers Watson’s securities arm has estimated that $985mn of cat bond capacity was impaired by the wildfires that scorched California and the trio of Atlantic hurricanes which battered parts of the US and the Caribbean last year.
Aspen expects $245mn Q4 UW loss as California losses biteBermudian carrier Aspen is set to post a $245mn underwriting loss for the fourth quarter including some $135mn of pre-tax losses net of reinsurance due to wildfires in California, the company announced last night.
Gallagher’s sees 6.8% organic growth in broking revenuesAcquisitive international broking house Arthur J Gallagher reported fourth quarter organic broking revenues that had climbed 6.8 percent compared to the final three months of 2016.
Aspen insurance CEO steps down after poor Q4 cat performanceAspen’s CEO of insurance Stephen Postlewhite has left the company with immediate effect, just hours after the Bermudian said it was expecting to post a $245mn underwriting loss for the fourth quarter.
Exin taps Pimco and Berkshire Hathaway for Ethniki funding: reportsWith just days left before it is due to table a final financing plan for Greek state-owned insurer Ethniki, Matt Fairfield’s Exin has spoken to Allianz-owned Pimco and Berkshire Hathaway about committing funds to the ongoing acquisition.
RLI surpasses expectations as tax gain bolsters earningsRLI reported fourth quarter earnings that outperformed the expectation of analysts and included a $32.8mn boost from changes to the tax code in the US.
Lloyd’s has ‘long way to go’ in harnessing ILS: ParryLloyd’s has a “long way to go” in taking advantage of the new insurance-linked securities (ILS) legislation that came into force last year, the Corporation’s chief financial officer (CFO) John Parry has said.
Carillion collapse to deal trade credit insurers £31mn hitCredit insurers are set to pay out around £31.0mn ($44.3mn) of claims related to the dramatic collapse of British outsourcing firm Carillion, according to the Association of British Insurers (ABI).
Lockton broker hot foots home on supposed first day at WillisJust hours after supposedly starting a new job as a casualty broker with Willis Towers Watson, Debbie Goldstine was revealed as US casualty leader at rival intermediary Lockton.
Volante swoops on QBE for chief actuarial officerVolante, the recently-launched multi-class MGA platform founded by Talbir Bains, has appointed Chris Drew as chief actuarial officer.
London market broker SSL in exclusive sale talksThe independent London market marine broker SSL has entered into a new set of exclusive takeover talks with a private equity firm that - if successful - will lock in co-founder Andrew Sturdy and his colleagues for a minimum of three years, Reinsurance can reveal.
Rupert Atkin appointed AHJ non executiveIndustry veteran Rupert Atkin has joined independent broker AHJ as a non-executive director.
RSA taps Buckle and Gibbs as UK and international chiefsUK carrier RSA has named Tony Buckle and Rob Gibbs as the respective new managing directors of its global and commercial risk solutions businesses.
Qatar Re owner’s profit dives after Hurricanes and OgdenQatar Insurance Group (QIC), the parent entity of Qatar Re and Lloyd’s syndicate Antares, reported underwriting profits that slumped $200mn to just $32mn last year.
Aon Benfield ups 2017 cat loss estimate to $134bnAon Benfield has increased its 2017 catastrophe loss pick once again to take the total estimated insured losses for last year to $134bn.