NewsMapfre invests $28.5mn in Madrid-based tech venture fundSpanish (re)insurer Mapfre is to invest EUR25mn ($28.5mn) in Madrid-based B2B tech venture fund Alma Mundi Insurtech Fund.Wed 21 Nov 2018
NewsRating actionsKuwait Re’s nine-month profit climbs 7 percentKuwait Re posted an after-tax profit of KD2.97mn ($9.83mn) for the first nine months of 2018, thanks to a 33.7 percent increase in net earned premium.Wed 21 Nov 2018
NewsPeople MovesArch names Sturgess international insurance CEOArch has named Hugh Sturgess as CEO of Arch Insurance International, effective 1 January 2019, succeeding Matt Shulman, who was recently named CEO of Arch Insurance North America.Wed 21 Nov 2018
NewsResultsGenerali shares rise on new strategic planItalian insurance heavyweight Generali has pledged to pay higher dividends while unveiling a plan today to extend its global reach into the higher-growth markets of Asia and Latin America.Wed 21 Nov 2018
NewsLossesSwiss Re estimates 2018 insured nat cat losses at $60bnThe (re)insurance industry is currently on course to incur circa $60bn of insured losses from 2018 cat events, according to Swiss Re’s head of insurance research.Tue 20 Nov 2018
NewsPeople MovesJLT Re chairman Howard to take Guy Carpenter roleMMC is unveiling the next wave of integration ahead of the completion of its £4.3bn JLT acquisition next year with the appointment of JLT Re chairman Ross Howard to the post of Guy Carpenter vice chairman, while JLT Re CEO Mike Reynolds exits the intermediary.Tue 20 Nov 2018
AnalysisLossesThe ILS juggernaut faces a bump in the roadIt looks increasingly likely that the vast ILS market – estimated to have grown to a new record size of $98bn – will now plateau or even shrink slightly at year-end.Tue 20 Nov 2018
NewsDARAG acquires US joint venture partner SOBCAmbitious European legacy firm DARAG has consolidated its US platform by acquiring the shares of its joint venture partner, SOBC Services.Tue 20 Nov 2018
NewsM&AAXA XL buys out Stone Point and Mitsui interests in New OceanAXA XL has taken its majority-owned asset management arm New Ocean Capital Management in-house with a deal to buy-out minority interests held by Stone Point and Mitsui.Tue 20 Nov 2018
NewsBeazley, AEGIS and Allied World lead first-ever PPL league tableSyndicates managed by Beazley, AEGIS and Allied World lead the first published league table of Lloyd’s adopters of PPL, the e-placing platform that is being rolled out in the London subscription market.Tue 20 Nov 2018
NewsPeople MovesWTW unveils new chairmanVictor Ganzi, the president of the PGA Tour and former CEO of US media conglomerate Hearst Corp, will replace James (Jim) McCann as chairman of the Willis Towers Watson (WTW) Board from 1 January 2019.Mon 19 Nov 2018
NewsMarineRyan Group MGA Lodestar in talks with new capacity after RSA withdrawalLodestar Marine Ltd, the London-based fixed premium P&I MGA, is negotiating with fresh capacity following the decision by UK insurer RSA to withdraw from a number of London market classes. Mon 19 Nov 2018
NewsBrexitHigh Court approves TME’s Part VII transferThe High Court of England & Wales has approved the so-called Part VII process for Lloyd’s insurer Tokio Marine Kiln (TMK) to transfer its portfolio of Continental European liabilities to its new Luxembourg subsidiary, Tokio Marine Europe SA (TME).Mon 19 Nov 2018
AnalysisCalifornia’s Camp Fire now the worst ever insured wildfire loss at $7.5bn+The ferocious Camp wildfire will be fully distinguished later this week with firefighters finally aided by rain that will sweep into northern California later this week.Mon 19 Nov 2018
CommentBrexitIt’s a (draft) deal! But what does it mean…?Confused by EU-UK developments last week? Chris Bryant, Bryan Cave Leighton Paisner, explains what the draft deal means for London market insurers writing EU business…Mon 19 Nov 2018
NewsMS Amlin partners with Folgate for 2019 relaunchUK insurer Folgate has entered into a co-insurance deal with MS Amlin in as the formerly-defunct insurer prepares to underwrite live risks once again.Mon 19 Nov 2018