NewsResultsSompo International profits slip on combined ratio creepProfits at Japanese giant Sompo’s eponymous international unit, which was built out of the 2016 acquisition of Endurance, dipped 4.5 percent in the most recent quarter after a modest spike in the segment’s combined ratio. Fri 10 Aug 2018
NewsResultsLiberty Mutual sees 2Q profits up on lower catsLiberty Mutual’s underwriting performance swung to a profit in the second quarter, with the Boston-based carrier clocking a combined ratio of 97.9 percent.Thu 9 Aug 2018
NewsCasualty ReinsuranceAmTrust buys time to terminate $2bn Maiden quota shareUS insurer AmTrust has negotiated extra time to cancel its $2bn reinsurance quota share with sister company Maiden.Thu 9 Aug 2018
NewsResultsMaiden’s shares plunge 41% as CEO resigns after bad Q2Shares in Maiden crashed by more than 41 percent on Thursday after the Bermudian reinsurer announced that its top brass had resigned after another poor second-quarter performance.Thu 9 Aug 2018
NewsPeople MovesAspen takes Advent’s head of specialtyAspen Insurance has tapped Advent’s head of specialty Robin Waller to take over as head of international upstream energy.Thu 9 Aug 2018
NewsPeople MovesTop execs depart as AmTrust charge sends Maiden to an unexpected lossThe CEO and finance boss of Maiden have both stepped down in the wake of a poor second quarter that saw the Bermudian fall to an unexpected loss after taking a reserve charge on a book of business written for its sister company AmTrust.Thu 9 Aug 2018
NewsPeople MovesTravelers CFO Benet steps down with plauditsTravelers long-serving CFO Jay Benet had his retirement greeted with plaudits this week after nearly 17 years in the role.Thu 9 Aug 2018
NewsLossesUnderwriters must adapt to ‘new normal’ in California: AM BestInsurers need to change the way fire perils in California are modelled and underwritten in the wake of wildfires that have taken hold across the state, according to AM Best.Thu 9 Aug 2018
NewsLegal/ RegulatoryEchelon denies Qudos fraud allegations as settlement talks continueEchelon Insurance, the former owner of the Danish insurer Qudos, has denied allegations of wrongdoing made by London-headquartered alternative investment firm New Nordic earlier this week over the 2017 sale of the unrated European carrier.Thu 9 Aug 2018
NewsResultsBetter reinsurance profits help Navigators comfortably beat estimatesImproved profitability in the global reinsurance unit of Navigators helped the US specialty carrier comfortably surpass the expectations of analysts in the second quarter.Thu 9 Aug 2018
NewsResultsZurich P&C profit up 11% in first half 2018European Insurance powerhouse Zurich has reported an improved business operating profit in its P&C division in the first six months of the year, up 11 percent to $1.14bn.Thu 9 Aug 2018
NewsResultsHannover Re’s P&C premiums climb 19% as losses cost less than expectedTop line in Hannover Re’s property and casualty division swelled by 19.2 percent in the first half of the year driven by a surge in demand for structured reinsurance solutions, the big four reinsurer has said.Thu 9 Aug 2018
NewsPeople MovesAIG confirms return of Thomas LillelundAIG has confirmed it has snared Aspen Re’s CEO Thomas Lillelund, as revealed by re-Insurance.com..Wed 8 Aug 2018
NewsRatesProperty and finpro drive commercial line price hikesCommercial insurance pricing increased in the second quarter, driven by growth in property, as well as financial and professional lines, according to Marsh.Wed 8 Aug 2018
NewsResultsAspen share price now marooned below NTA on M&A concernsAspen Insurance Holding’s share price has now fallen 18 percent since its year-to-date high in early April as speculators become increasingly pessimistic about the imminent sale of the company as a formal M&A process edges closer to a conclusion.Wed 8 Aug 2018
NewsPeople MovesGallagher strengthens construction team with JLT veteranGallagher has built out its construction division with the appointment of Julie Scott.Wed 8 Aug 2018