CommentLegal/ RegulatoryLondon brokers steel themselves for potential FCA bombshellThere may be some sleepless nights among senior London market broker executives tonight as they prepare themselves for the UK regulator to publish its long-awaited results into the wholesale broker market in a few hours’ time.Tue 19 Feb 2019
NewsAllianz leads second Vale dam $400mn lossAGCS already lead on $200mn Vale GL $400mn TÜV SÜD cover exposed; AGCS leads Arrests in alleged corruption probe Tue 19 Feb 2019
NewsResultsFast-shrinking CatCo says average rates up as high as 30 percent2017-18 Losses now $4.5bn+ Claims rates on book were effectively up 30 percent at 1.1 AuM shrunk to $3bn; what will it be next month?Tue 19 Feb 2019
NewsResultsProsight’s 2018 profit up on low cat losses and $5mn reserve releaseUS specialty insurer Prosight reported a combined ratio in 2018 of 96.7 percent, an improvement from the 99.7 percent in 2017.Tue 19 Feb 2019
NewsPeople MovesAsia heads Sellek and Ribeiro to leave AM BestFormer senior Lloyd’s executives Dr Roger Sellek and Jose Ribeiro are both leaving rating agency firm AM Best in a management restructure that is explained as bringing “costs in line with regional growth potential” in the Asia Pacific (AP) region.Tue 19 Feb 2019
NewsMarineAscot taps Markel for US inland marine headAscot Insurance US has appointed Jeff Vetter as executive vice president and head of inland marine.Tue 19 Feb 2019
NewsCyberAspen swoops on Liberty’s Watson for cyber hireAspen Insurance – the insurance segment of Bermudian headquartered carrier Aspen – has hired cyber underwriter Amie Watson to join its growing London cyber team, The Insurer can reveal.Tue 19 Feb 2019
NewsM&AAscent backer Preservation Capital builds MGA platform with Cove investmentPrivate equity firm Preservation Capital Partners, the backers of MGA Ascent Underwriting, has invested in US construction-focused managing general agent Cove Programs.Tue 19 Feb 2019
CommentThe man who saved Lloyd’sIn contrast to some of the more recent, excitable commentary about Lloyd’s gloomy future, today’s sad news is a reminder that a generation ago Lloyd’s really was facing an existential crisis.Mon 18 Feb 2019
NewsPeople MovesAntares names Battle CEO as it reshuffles leadershipQIC-owned Antares has shaken up its leadership team, with Jonathan ‘Joe’ Battle taking the helm of the Lloyd’s managing agency as chief executive officer.Mon 18 Feb 2019
NewsRisk trading insurtech Akinova gets investment from Hiscox & MS&ADElectronic risk trading insurtech Akinova has secured investment from both Hiscox Re and Japanese conglomerate MS&AD via its Silicon Valley based venture capital firm.Mon 18 Feb 2019
NewsPeople MovesFormer Lloyd’s chairman Rowland diesThe former chairman of Lloyd’s Sir David Rowland – who is credited with saving the Corporation from collapse in the 1990s - has passed away.Mon 18 Feb 2019
NewsResultsSwiss Re completes $1bn share buy-back programmeReinsurance powerhouse Swiss Re has completed its 2018 share buy-back programme, returning just shy of CHF1bn ($995.6mn) to shareholders.Mon 18 Feb 2019
NewsBrown & Brown snaps up real estate broker PipinoAcquisitive US broker Brown & Brown has bought certain assets of retail broker Donald P Pipino Company (DPC).Sat 16 Feb 2019
NewsM&AAltamont in exclusive talks to buy TopaTopa Insurance Group has entered into exclusive talks with potential buyer Altamont Capital as the Californian carrier moves closer to a sale, The Insurer can reveal.Fri 15 Feb 2019
NewsCasualtyAM Best downgrades Allied World issuer credit on casualty erosionConcerns over the “very competitive” commercial casualty market have prompted AM Best to downgrade the credit rating of Fairfax Financial subsidiary Allied World Assurance Company.Fri 15 Feb 2019