NewsPeople MovesBeazley hires AWAC’s Karimali for US D&O teamBlue-chip insurer Beazley has hired Rozina Karimali as executive risk underwriter within its US cyber and executive risk division.Mon 2 Dec 2019
NewsPeople MovesChaucer takes AGCS’ Sheedy to build out US GL after capacity increaseSpecialty carrier Chaucer has appointed Colm Sheedy as class underwriter for US general liability (GL) as it also increases capacity for the line of business.Mon 2 Dec 2019
NewsS&P maintains stable Deutsche Rück outlookRating agency Standard & Poor’s (S&P) has affirmed Deutsche Rück’s ‘A+’ rating and stable outlook, citing the insurer’s “very strong” capital base, “risk adequate” underwriting and a “conservative” reserving strategy.Mon 2 Dec 2019
Why insurers must utilise multiple data sources for subsidence, heave and other ground movement riskMon 2 Dec 2019
NewsPeople MovesPro CEO Niemczewski steps downArtur Niemczewski is departing from Pro Global to “pursue other opportunities” after six years in the CEO role.Mon 2 Dec 2019
NewsPeople MovesCoverys 1975 hires Fathers as MPL underwriterCoverys Managing Agency has appointed Priya Fathers as medical professional liability (MPL) underwriter for Syndicate 1975.Mon 2 Dec 2019
NewsM&AArch completes Barbican acquisitionArch Capital has completed its acquisition of Lloyd’s insurer Barbican Group Holdings from funds managed by US alternative asset management firm Carlson Capital.Mon 2 Dec 2019
NewsHiscox to leave FTSE100 after brief sojournAfter a near 25 percent fall in its share price since the summer, Lloyd’s carrier Hiscox plc is set to be ejected from the FTSE100 later this week. Mon 2 Dec 2019
NewsM&AZurich takes pole position in Indonesia with Adira buySwiss giant Zurich has completed its purchase of an 80 percent stake in PT Asuransi Adira Dinamika (Adira Insurance), making it the largest international P&C insurer in the region.Fri 29 Nov 2019
NewsCommercial autoMarmalade names Markerstudy’s Thompson underwriting directorYoung driver insurance provider Marmalade has appointed motor intermediary Markerstudy’s head of schemes, Gary Thompson, as underwriting director.Fri 29 Nov 2019
NewsResultsSompo sets sights on global top 10 through “large-scale” M&AJapanese giant Sompo Holdings plans to secure its place as a top 10 global insurance player through “drastic” growth, citing “large-scale” acquisitions and increasing its overseas activity.Fri 29 Nov 2019
NewsUS P&C pressure migrating to Europe: Axis’ WilsonAs conditions continue to tighten in the casualty and property spheres, Axis Insurance CEO Peter Wilson told The Insurer that a hardening market in the US looks set to put pressure on the European and UK markets.Fri 29 Nov 2019
NewsEarly winter US storms and Mediterranean flooding spur near $1bn losses: AonSevere winter weather across California through to Northeast US and flooding along the Mediterranean coasts of Italy and France have caused damage of $940mn+ according to initial estimates, with the majority of losses insured.Fri 29 Nov 2019
NewsMunich Re Syndicate to increase 2020 Lloyd’s stamp capacity by nearly a quarterMunich Re’s Syndicate 457 has received Lloyd’s business plan approval is to increase its stamp capacity to £525mn in 2020, an increase of nearly 24 percent, The Insurer can reveal.Fri 29 Nov 2019
NewsResultsMarkerstudy and QIC agree loan restructure termsMarkerstudy has announced it is “business as usual” as the motor intermediary and parent Qatar Insurance Company agree repayment terms on a loan that rating agency S&P raised concerns over earlier this week.Fri 29 Nov 2019
NewsCooper Gay France acquires TMK EuropeCooper Gay France (CGF), the only Ed Broking arm to retain its predecessor brand, has agreed to acquire Tokio Marine Kiln Europe, TMK’s Belgium-headquartered service company.Fri 29 Nov 2019