NewsEnergyIGI taps Axis for downstream energy underwriterMiddle Eastern carrier IGI has strengthened its energy offering with the appointment of James Green as senior underwriter for downstream energy. Wed 8 Aug 2018
NewsCasualty ReinsuranceMunich Re falls to P&C underwriting loss in Q2German powerhouse Munich Re’s property and casualty reinsurance division was pushed to an underwriting loss in the second quarter as a significant bill for man-made disasters sent its combined ratio over 100 percent.Wed 8 Aug 2018
NewsPeople MovesAspen appoints new reinsurance head as AIG hires LillelundAspen Re’s CEO Thomas Lillelund is leaving the Bermudian carrier, which is elevating his number two to lead its reinsurance unit.Tue 7 Aug 2018
NewsCyberAverage cyber policy limits plunge by almost 50%: CIABThe typical limit on a cyber policy was down 47 percent to $3.2mn in 2018, according to a study by the Council of Insurance Agents and Brokers (CIAB) in the US.Tue 7 Aug 2018
NewsLossesInsured losses from NZ’s Canterbury earthquakes climb to $15bnInsured losses stemming from earthquakes in Canterbury, New Zealand in 2010 and 2011 have risen to NZ$22.29bn ($15.02bn), according to the country’s insurance trade body.Tue 7 Aug 2018
NewsLloyd’s gives Nephila the go-ahead for its own managing agencyILS giant Nephila has been given the green light to set up its own managing agency after a meeting of the Lloyd’s franchise board.Tue 7 Aug 2018
NewsAviationStarr confirms deal to buy Aspen’s aviation bookStarr Insurance Companies has confirmed a deal to acquire Aspen’s aviation insurance operation after the Bermudian’s CEO revealed that it was ditching its $50mn+ book.Tue 7 Aug 2018
NewsResultsArgo impresses analysts as its combined ratio improvesBermudian Argo surpassed the expectations of analysts in the second quarter with a $32.9mn profit driven by an improvement in the combined ratio.Tue 7 Aug 2018
NewsAviationCV Starr acquires WRB and Aspen aviation booksLeading aviation carrier CV Starr is expanding its market share with the acquisition of two books of business from rival carriers.Mon 6 Aug 2018
NewsPeople MovesAmWins picks Petrilli as president of underwritingWholesale broking giant AmWins has tapped the former North American boss of Swiss Re Corporate Solutions Bob Petrilli to lead its underwriting division.Mon 6 Aug 2018
NewsLegacyNew Nordic to sue Echelon for Qudos M&A ‘fraud’Scandinavia-focussed alternative investor New Nordic says it is poised to sue the former owner of its Danish insurer Qudos for “misrepresentative and fraudulent acts” following its acquisition of the carrier in 2017.Mon 6 Aug 2018
NewsPeople MovesAIG takes Zurich’s Wismer as deputy CFOInsurance giant AIG Has hired Jonathan Wismer from rival Zurich to take on the role of deputy chief financial officer and head accountant.Mon 6 Aug 2018
NewsResultsState Auto’s combined ratio climbs as catastrophe losses weigh on profitsState Auto has surprised analysts in the second quarter by reporting a $3.5mn loss that was more than double last year’s deficit as the carrier’s catastrophe bill surged by almost 50 percent.Mon 6 Aug 2018
NewsPeople MovesMarkel taps Axis for war and terrorism underwriterMarkel has appointed Tom Simpson as a war and terrorism underwriter.Mon 6 Aug 2018
NewsPeople MovesJLT Specialty appoints European head of risk consultingJLT Specialty has appointed Nigel Somerville as head of risk consulting for Europe. Mon 6 Aug 2018
NewsLegal/ RegulatoryMunich Re latest to cut ties with coal businessReinsurance giant Munich Re has become the latest in a line of carriers to curb investment in coal related risks.Mon 6 Aug 2018