NewsPeople MovesVeteran Markel chairman Kirshner to retireVice chairman Steven Markel will take over from Alan Kirshner as executive chairman of US specialty insurer Markel Corp when the veteran stands down from the post next May.Wed 20 Nov 2019
NewsLegal disputeMarsh sues Cobbs Allen over 30 hires for CAC SpecialtyMarsh has followed McGriff Seibels & Williams in suing over hires by CAC Specialty, the new brokerage launched by Cobbs Allen earlier this year.Wed 20 Nov 2019
NewsCommercial insuranceWillis looks to add non-admitted capacity to DBS panelsWillis Towers Watson North America is considering building an excess and surplus lines (E&S) component to the carrier panels it has been launching as part of its Differentiated Broking Solutions (DBS) strategy, The Insurer can reveal.Wed 20 Nov 2019
NewsCommercial insuranceFormer Ironshore chief Kelley to retire from LibertyLiberty Mutual’s vice chairman of Global Risk Solutions (GRS) Kevin Kelley is to retire from the company at the end of the year, The Insurer can reveal.Wed 20 Nov 2019
NewsLossesGIAJ pegs Faxai claims payouts at $2.44bnThe General Insurance Association of Japan has calculated that claims payments resulting from Typhoon Faxai have reached 265bn yen ($2.44bn).Wed 20 Nov 2019
NewsCoverWallet sale could sound alarm for smaller carriers: KBWAon’s impending purchase of insurtech CoverWallet has signalled a time where direct-to-insured commercial platforms have the potential to increase pricing sensitivity, favouring bigger carriers that can accommodate wide-scale discounts, according to Keefe Bruyette & Woods.Wed 20 Nov 2019
CommentResultsArdonagh 9M: a bellwether or reality checkAfter private equity-owned Ardonagh reported a notable uptick in its underlying performance in the first half of the year, The Insurer asks whether its’ nine-month financials – expected later today – could place the ambitious UK broker consolidator firmly in the black.Wed 20 Nov 2019
NewsAon acquires insurtech CoverWalletAon has agreed to acquire commercial insurtech CoverWallet in a bid to target the rapidly growing small-to-medium sized enterprise (SME) market via digital distribution.Wed 20 Nov 2019
NewsPeople MovesAspen Re Dubai and Miami offices to closeAspen is closing the Dubai and Miami offices of its reinsurance operations and transferring business from Lloyd’s China to its Singapore arm as it looks to create a more streamlined platform under its new management team, The Insurer can reveal.Wed 20 Nov 2019
NewsResultsIGI top line up 16% in Q3Dubai-based International General Insurance Holdings has booked a 16 percent increase in gross written premium for the three months ended 30 September 2019 as GWP topped $74mn, up from $64mn reported in the same period last year.Wed 20 Nov 2019
NewsRenRe Syndicate 1458 stamp capacity to increase by 9%RenaissanceRe Syndicate 1458 has secured Lloyd’s approval for 2020 stamp capacity to increase by some 9 percent, The Insurer can reveal.Wed 20 Nov 2019
NewsHDI Global Specialty targets Eur100mn UW profit in 2022HDI Global Specialty, the specialty arm of German (re)insurer Talanx, has projected an underwriting result of Eur100mn ($110.6mn) in 2022, the carrier’s third year of operation.Wed 20 Nov 2019
NewsAon logo withdrawn from Prince Andrew charity websiteAon’s logo has been taken down from a website for one of Prince Andrew’s charities, Pitch@Palace, intended as a platform to boost the work of entrepreneurs.Wed 20 Nov 2019
NewsNeon cites retro crunch as it shuts down Bermuda and exits cat reinsuranceLloyd’s (re)insurer Neon will cease writing property treaty reinsurance and intends to close its Bermuda platform as a result of hardening in the retro market, The Insurer can reveal.Wed 20 Nov 2019
NewsPeople MovesTravelers to cease writing cargo at Lloyd’sUS carrier Travelers is exiting cargo business at Lloyd’s, The Insurer understands.Wed 20 Nov 2019
NewsCommercial propertyHouse sends bill including 1-month NFIP extension to SenateThe US House of Representatives has passed a continuing resolution that would fund the government through 20 December, with the stopgap measure now heading to the Senate.Wed 20 Nov 2019