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Lockton broker hot foots home on supposed first day at Willis

News

People Moves

Lockton broker hot foots home on supposed first day at Willis

Just hours after supposedly starting a new job as a casualty broker with Willis Towers Watson, Debbie Goldstine was revealed as US casualty leader at rival intermediary Lockton.

Thu 25 Jan 2018

Volante swoops on QBE for chief actuarial officer

News

People Moves

Volante swoops on QBE for chief actuarial officer

Volante, the recently-launched multi-class MGA platform founded by Talbir Bains, has appointed Chris Drew as chief actuarial officer.

Wed 24 Jan 2018

London market broker SSL in exclusive sale talks

News

Marine

London market broker SSL in exclusive sale talks

The independent London market marine broker SSL has entered into a new set of exclusive takeover talks with a private equity firm that - if successful - will lock in co-founder Andrew Sturdy and his colleagues for a minimum of three years, Reinsurance can reveal.

Wed 24 Jan 2018

Rupert Atkin appointed AHJ non executive

News

People Moves

Rupert Atkin appointed AHJ non executive

Industry veteran Rupert Atkin has joined independent broker AHJ as a non-executive director.

Wed 24 Jan 2018

RSA taps Buckle and Gibbs as UK and international chiefs

News

People Moves

RSA taps Buckle and Gibbs as UK and international chiefs

UK carrier RSA has named Tony Buckle and Rob Gibbs as the respective new managing directors of its global and commercial risk solutions businesses.

Wed 24 Jan 2018

Qatar Re owner’s profit dives after Hurricanes and Ogden

News

Losses

Qatar Re owner’s profit dives after Hurricanes and Ogden

Qatar Insurance Group (QIC), the parent entity of Qatar Re and Lloyd’s syndicate Antares, reported underwriting profits that slumped $200mn to just $32mn last year.

Wed 24 Jan 2018

News

Losses

Aon Benfield ups 2017 cat loss estimate to $134bn

Aon Benfield has increased its 2017 catastrophe loss pick once again to take the total estimated insured losses for last year to $134bn.

Wed 24 Jan 2018

News

Losses

Argo’s Q4 losses higher than expected

Argo surprised analysts by announcing that its fourth quarter catastrophe losses were likely to be between $34mn and $38mn.

Wed 24 Jan 2018

News

Brown & Brown tops estimates as organic growth climbs 9.3%

US broker Brown & Brown got the ball rolling on the fourth quarter reporting season with an estimate-topping set of results led by 9.3 percent rise in organic revenue.

Tue 23 Jan 2018

Talanx picks up Liberty’s $56mn Turkish carrier

News

M&A

Talanx picks up Liberty’s $56mn Turkish carrier

Hannover Re-owner Talanx has struck a deal to acquire Liberty Mutual’s non-life insurance operations in Turkey.

Tue 23 Jan 2018

News

QBE warns on $1.2bn full year loss for 2017

Australian carrier QBE Group is set to post an after-tax loss of $1.2bn for the full year 2017 as poor emerging market results and catastrophe losses compound a total of $930mn in US tax-related write downs.

Tue 23 Jan 2018

News

Ogden rate

Government pledge to reform Ogden rate slows premium increase

The surge in premium for motor insurance tailed off in the final quarter of 2017 after a government pledge to reform the Ogden rate, according to research by Willis Towers Watson.

Tue 23 Jan 2018

News

California regulator threatens profits cap only months after $12bn+ wildfire losses

Despite US and global (re)insurers facing a loss bill of over $12bn from the fourth quarter California wildfires, the populist state insurance commissioner Dave Jones (pic) has today (23 January) threatened to cap profits for state regulated insurers.

Tue 23 Jan 2018

Comment

M&A

Sold Ascot, bought Validus: the renaissance of reinsurance?

18 months ago AIG sold the well regarded Lloyd’s carrier Ascot for approximately 1.6 times book. Today it’s buying Validus and its Lloyd’s platform Talbot for around the same multiple. Why the strategic U-turn?

Tue 23 Jan 2018

XL eyes reinsurance restructure with new $1bn aggregate stop-loss

News

Results

XL eyes reinsurance restructure with new $1bn aggregate stop-loss

XL Group is in the midst of overhauling the way it buys reinsurance with the addition of a group-wide aggregate stop loss cover that could provide up to $1bn of additional protection while enabling investors to take a greater share of underwriting profits, Reinsurance can reveal.

Tue 23 Jan 2018

Travelers smashes analyst estimates with $633mn Q4 profit

News

Results

Travelers smashes analyst estimates with $633mn Q4 profit

US commercial and personal lines giant Travelers has significantly outperformed in the eyes of industry observers after it delivered a $633mn core profit in the fourth quarter despite reporting more than half a billion dollars of catastrophe losses.

Tue 23 Jan 2018