NewsLegal/ RegulatoryWillis pursues Alliant for trying to ‘decimate’ its construction teamWillis Towers Watson is suing Alliant for trying to “steal millions of dollars of revenues” after the West Coast broker poached a 12-strong construction team from its larger rival.Mon 13 Aug 2018
NewsResultsAlternative capital continues to ‘surge’: AonGlobal alternative reinsurance capital had climbed to $95bn by the end of first quarter, an increase of 7 percent from the end of 2017, according to estimates by Aon Benfield.Mon 13 Aug 2018
NewsPeople MovesAxis taps Travelers for global head of ceded reinsuranceBermudian carrier Axis has appointed Anne Kelly global head of ceded reinsurance.Mon 13 Aug 2018
NewsAmWins secures Argo backing for two new marine MGAsWholesale broking giant AmWins has launched two new MGAs focused the marine market – Amwins Specialty Logistics Underwriters (ASLU) and Sentinel Marine Underwriters (SMU).Mon 13 Aug 2018
NewsStarStone launches casualty consortium in AustraliaStarStone has launched a casualty consortium targeted at the Australian and New Zealand markets.Mon 13 Aug 2018
NewsResultsTalanx profits improve despite uptick in industrial fire lossesHannover Re owner Talanx managed to grow profits in the first half of the year despite an uptick in German fire and property losses in its industrial lines unit.Mon 13 Aug 2018
NewsLegacyDarag inks its first US deal as it partners with SOBCRun-off acquirer Darag has entered a joint venture with US-based SOBC in a bid to grow beyond its European heartland into the North American, Caribbean and Bermudian legacy markets.Mon 13 Aug 2018
NewsPeople MovesVolante launches motor MGAVolante Global, the MGA platform led by Talbir Bains, has launched its latest MGA - Gentium Motor.Mon 13 Aug 2018
NewsPPL penal regime begins with league table of London adoptersA league table of those to take up the London market E-placing platform, PPL, will be published next quarter as the penal regime begins for Lloyd’s adoption.Mon 13 Aug 2018
NewsRating actionsAM Best warns that Maiden’s reserve charge has been ‘noted’Ratings agency AM Best has said it would not be taking any action against Bermudian reinsurer Maiden in the wake of its disappointing second quarter results, but warned that “changes in equity and reserves through the first six months of 2018 have been noted”.Fri 10 Aug 2018
NewsPeople MovesMunich Re hires senior XL underwriter to lead its US specialty pushMunich Re has hired XL Group’s head of US terrorism and political violence Ben Tucker to lead a new unit focussed on writing a variety of US non-marine specialty classes, re-Insurance.com can reveal.Fri 10 Aug 2018
CommentM&AAspen’s high noon fast approachesThe six months of uncertainty for up-for-sale Bermudian carrier Aspen will end soon - and perhaps even as early as this time next week, sources close to the company suggest.Fri 10 Aug 2018
AnalysisM&AMaiden’s voyage Bermuda’s Maiden has veered off course and appears to be going in a very different direction.Fri 10 Aug 2018
NewsLegacyLegacy acquirer Armour builds out M&A team with two hiresRun-off specialist Armour has appointed Ranbeer Bhatia and Andrea Piatti.Fri 10 Aug 2018
NewsResultsTokio on the hook for $452mn flood losses as international units sufferJapanese carrier Tokio Marine Holdings expects to pay out 50bn yen ($451.8mn) for losses stemming from heavy rain in the country last month.Fri 10 Aug 2018
NewsResultsAmTrust’s combined ratio swells to 106% after another reserve chargeSoon-to-be private US insurer AmTrust saw its combined ratio balloon to 106.1 percent in the second quarter after booking another reserve charge.Fri 10 Aug 2018