StarStone swoops on ArgoGlobal for crisis management underwriterStarStone has appointed Andrew Summers senior political risk underwriter to join its newly launched crisis management division.
BHSI moves into Dubai with AIG energy hireBerkshire Hathaway’s specialty operation BHSI is set to open shop in Dubai after receiving regulatory approval and hiring AIG’s global head of energy and engineered risks Alessandro Cerase.
Brit expands US marine operationsBrit has made two appointments to its US marine business and it continues to build out its yacht and cargo books in the wake of catastrophe losses incurred in the second half of last year.
Calamos demands Exin audits as it looks to claw back default loansThe Greek-American billionaire John Calamos has asked an Illinois court to see a full audit of Exin’s financials as part of an attempt to claw back over $41mn extended to Matt Fairfield’s company as part of its ongoing attempts to buy Greek state insurer Ethniki, according to documents obtained by re-Insurance.com.
JP Morgan makes U-turn on $14bn Allianz–XL deal outlookAfter initial scepticism, JP Morgan now says Allianz’s rumoured bid for Bermudian XL Group could make sense for the German heavyweight’s shareholders even at a hefty take out price of $14bn - or around $54 a share.
UPDATE: AIG shares climb almost 5% after resultsShares in AIG were up almost 5 percent when the opening bell rang at the New York Stock Exhange this morning after the US insurance giant announced its fourth quarter and full year results.
Aspen’s O’Kane ‘ruling nothing out’ regarding M&AThe CEO of Bermudian (re)insurer Aspen Chris O’Kane has said the (re)insurer is “open minded” to a strategic review that could ultimately lead to a sale process.
Marsh executives face criminal complaint in fresh aviation scandalSome of Marsh’s top executives in Asia as well as members of its aviation team are the subject of a criminal complaint in the Philippines after allegedly sharing confidential client information.
Willis reinsurance revenues post 4% Q4 organic growthWillis Towers Watson’s investment, risk and reinsurance unit reported solid 4 percent organic growth in the fourth quarter to take headline income to $300mn for the period.
Beazley mulls entering UK ILS marketLondon (re)insurer Beazley Group has confirmed it is exploring an entry into the nascent UK ILS market.
CBL shares now halted amid Gibraltar ‘dommages ouvrage’ concernsNew Zealand-listed carrier CBL has had its shares suspended by the country’s stock exchange days after it announced a NZ$100mn reserve strengthening to deal with deteriorations in controversial Gibraltar-written French construction business.
Axis just beats Street estimates with $20mn profitAxis just beat the expectations of Wall Street to deliver a $20mn operating profit for the final quarter of last year.
Hiscox shifts US chief to new London global retail unitHiscox has moved its US CEO Ben Walter to London to head up a newly-formed global retail division from the beginning of July.
Zurich shares up on 2017 earnings beatZurich’s share price was up 3 percent in early trading today (8 February) as investors welcomed a better than expected 2017 result and the first increase in its dividend for seven years.
Scor seals 4% renewal premium growth at 1/1Scor managed to grow its premium income by 3.7 percent on a constant currency basis at the January renewals, taking its total top line to EUR3.1bn ($3.8bn).
UPDATE: Beazley closes up 6% after full year resultsShares in Beazley were trading hands for £5.61 a piece, up 5.5 percent, when the London Stock Exchange closed today, after the Lloyd’s (re)insurer released its fourth quarter results.
Swiss Re confirms possible $10bn investment from SoftbankSwiss Re has confirmed reports that Japanese investment giant Softbank is mulling a significant minority investment that could see it acquire around 30 percent of the European reinsurance powerhouse.
Aspen loss better than expected but ‘well below’ acceptable levelsAspen has delivered a $178.1mn fourth quarter operating loss that was not as bad as analysts had expected but still “well below acceptable levels” according to the Bermudian’s chief exec Chris O’Kane.
XL shares soar as Wall Street acquisition rumours reach fever pitchShares in XL Group were trading up by more than 12 percent as markets closed on Wednesday after reports that potential acquirers were circling the Bermuda-headquartered group.
Valuations further deter Everest Re from large-scale M&AEverest Re shares up almost ten percent since 4Q earnings. Re-Insurance’s summary of the Everest Re 6 February investor call.