News

Allianz plucks CFO from Ageas

Insurance giant Allianz has hired Fernley Dyson to takeover as finance boss when Mark Churchlow steps down at the end of the year.

AFL swoops on Towergate for CFO

Toby Esser-owned Lloyd’s broking house AFL has appointed Chris Gagg as chief financial officer.

Cyber market growth not to be taken for granted: Geneva Association

Think tank the Geneva Association has warned (re)insurers not to presume that demand for cyber coverage will continue to grow at current rates.

AIR pegs Japanese flood bill at up to $4bn

Losses stemming from floods that devastated parts of western Japan in June and July are expected to cost insurers between $2.6bn and $4bn, according to AIR Worldwide.

Aspen shares up as Apollo buy-out talks continue

Bermudian Aspen and investment heavyweight Apollo Global Management will continue discussions this week over an acceptable price and key terms that - if agreed - could lead to a recommended circa $2.55bn deal being formally put both to the Aspen board later this month, re-Insurance.com can reveal.

Swiss Re facing claim after Genoa bridge disaster

Swiss Re Corporate Solutions is one of the insurers of Autostrade per l’Italia – the operator of the collapsed Morandi Bridge in Italy.

Kerala flooding could lead to $2.87bn in economic losses

Economic losses stemming from flooding in the Indian state of Kerala could be as high as $2.87bn, according to initial estimates from the Associated Chamber of Commerce and Industry of India (ASSOCHAM).

IGI top line surges 20% in first half of 2018

Dubai-headquartered carrier IGI booked $165.9mn in gross written premium in the first six months of 2018, an increase of 20 percent compared to the first half of last year.

CatCo shares slip amid ‘uncertainty’ over last year’s losses

London-listed shares in Markel’s ILS fund manager CatCo slid this morning after the carrier alluded to uncertainty about last year’s catastrophes in its first-half results for 2018.

Wanat named Aon’s US commercial broking boss

Aon has named one of its long-standing servants and the former CEO of its financial services group - Brian Wanat - as chief broking officer for US commercial risks solutions.

Reserve charges adds to Allstate’s $220mn July cat bill

US insurance giant Allstate was hit with a $42mn reserve charge last month, taking its total July catastrophe bill to $262mn after a month that was scarred by wildfires and summer storms.

Aspen Re poised to release CEO Lillelund early to join key client AIG

Aspen Insurance Holdings is not expected to hold its departing reinsurance head to his one-year notice period in order to help maintain good terms with its top-five client, AIG, re-Insurance.com understands.

Swiss Re pegs H1 insured cat losses at $20bn

Insured catastrophe losses incurred in the first half of 2018 are estimated to stand at $20bn, according to Swiss Re’s latest Sigma report.

QBE’s combined ratio improves as streamlining boosts bottom line

Australian giant QBE saw its combined ratio improve in the first half of 2018 as the effects of a “simplification plan” start to help the group’s bottom line.

Darag taps Halley for CFO role as Trotman steps down

Legacy specialist Darag has appointed James Halley group chief financial officer, replacing Mike Trotman.

QBE sells US personal lines business to Liberty Mutual’s Safeco

QBE North America has offloaded its book of personal insurance independent agency policies to Liberty Mutual-owned Safeco.

ERS returns to profit so far in 2018

Specialist motor-only Lloyd’s syndicate ERS has booked a £5.6mn profit in the first half of the year as its combined ratio fell well below 100 percent.

Amazon mulling UK insurance comparison site: report

Amazon is expected to confirm the fears of many in the insurance sector by bringing its scale and data to bear on distribution with a price comparison site, Reuters has reported.

R&Q inks three new program deals with European MGAs

London-listed Randall & Quilter has added three new program underwriting partnerships with European MGAs to its books through its Malta-based subsidiary which takes the firm past the $200mn GWP milestone.