NewsM&AGuy Carp-JLT Re set to become largest reinsurance broker…justThe combined revenue of the broking titan formed by MMC’s $5.6bn purchase of JLT Group will enable the combined reinsurance units to leapfrog Aon’s reinsurance arm to become the industry’s largest reinsurance broker based on 2017 revenues.Tue 18 Sep 2018
NewsM&AJLT’s shares leap 31 percent on largest-ever broker M&A dealShares in London-listed broking group JLT have soared 31 percent in early trading today in response to its shock $5.6bn takeover by US rival MMC, the largest ever acquisition of an insurance intermediary.Tue 18 Sep 2018
NewsM&AMMC swoops on JLT in $5.6bn takeover dealMarsh & McLennan Companies - parent company of Marsh and Guy Carpenter - is to acquire London-listed rival JLT.Tue 18 Sep 2018
NewsLossesKCC pegs Florence losses at $2.5bnModeling firm Karen Clark & Company has said losses from Hurricane Florence, which battered the Carolinas over the weekend, are set to reach up to $2.5bn.Mon 17 Sep 2018
NewsLossesMarine insurers facing EUR590mn bill for Lürssen shipyard lossMarine insurers are bracing themselves for an estimated loss in the region of EUR590mn ($687mn) after a superyacht shipyard in Germany caught fire last week, according to re-Insurance sources.Mon 17 Sep 2018
NewsHiscox to shrink Syndicate 33’s stamp capacity by £200mn next yearHiscox has announced plans to shrink its flagship Syndicate 33’s stamp capacity by £200mn next year as a crackdown by Lloyd’s performance director Jon Hancock rumbles on.Mon 17 Sep 2018
NewsM&ACovea mulling another Scor bid: ReutersCovea is considering another approach for Scor with an offer that would see the French mutual insurer commit to keeping the reinsurance giant listed in Paris, Reuters has reported.Mon 17 Sep 2018
NewsEnergyBMS continues energy team build-out with more Price Forbes hiresLondon wholesaler BMS has continued to build out its nascent energy insurance team with three more hires from rival Price Forbes and a fourth addition from JLT.Mon 17 Sep 2018
NewsLossesMost of North Carolina’s flood losses uninsuredParts of North Carolina remain under water today after Hurricane Florence dumped around 33 inches of rain on to the state over the weekend.Mon 17 Sep 2018
NewsLossesTyphoon Jebi to cost (re)insurers up to $5.5bn: RMSTyphoon Jebi which pounded Japan earlier this month could cost insurers up to $5.5bn - according to RMS - adding to the likelihood of losses among Japanese cat reinsurers.Mon 17 Sep 2018
NewsLegacyMaiden shares up 13% after Catalina continued stake-buildingCatalina Holdings has continued to build its stake in embattled carrier Maiden despite being recently trumped by fellow Bermuda run-off firm Enstar Group to acquire $1.3bn of reserves relating to the reinsurer’s North American arm.Mon 17 Sep 2018
TV NewsMonte CarloSwiss Re’s Haegeli on the role technology can play for reinsurersSwiss Re’s group chief economist Jerome Haegeli discusses how technology can shape the industry and how Sigma has developed over the past 50 years.Fri 14 Sep 2018
TV NewsMonte CarloEric Schuh of Swiss Re on data in the industrySwiss Re’s global head of P&C discusses how reinsurers can leverage technology and add value with data.Fri 14 Sep 2018
TV NewsMonte CarloSwiss Re’s chief economist Haegeli discusses the outlook for the industrySwiss Re’s group chief economist Jerome Haegeli talks to re-Insurance about the main risks facing the industry and the outlook for the reinsurance market.Fri 14 Sep 2018
NewsM&AEPIC deal brings together ex-Marsh heavyweights once againEPIC Insurance Brokers & Consultants’ latest acquisition has brought together two of the most senior Marsh executives from the Jeff Greenberg era.Fri 14 Sep 2018
NewsPeople MovesBrindle adds CUO title at Fidelis as Savill departsFidelis boss Richard Brindle has added group chief underwriting officer to his existing responsibilities - as chairman and CEO of the Bermudian - as Ben Savill leaves the (re)insurer.Fri 14 Sep 2018