Specialty

RSA names Allianz's Cote as Europe CEO, O'Leary to lead US specialty lines

RSA Luxembourg has named Nadia Cote as European CEO, succeeding Lynn O'Leary, who is set to relocate to the US to oversee Intact's specialty lines business.

Brit Re sets ~$50mn GWP targets for specialty and casualty treaty

Brit’s Bermuda platform Brit Re is set to expand into specialty treaty and casualty treaty in 2025 with ~$50mn first-year gross written premium targets for each line, The Insurer can reveal.

Rokstone expands MENA footprint with new Dubai office

International specialty MGA Rokstone has received a licence from the Dubai Financial Services Authority to establish a new office in Dubai International Financial Centre.

BMS expands specialty offering with winery wildfire risk solution

Specialist (re)insurance broker BMS Group has launched BMS Bacchus, a stock throughput solution designed to protect the production, storage and transit of wine.

Bowhead’s share price drops on Q3 preliminary results and secondary offering news

Investors sent Bowhead Specialty Holdings’ share price down on Tuesday morning after it announced preliminary Q3 results that include expected 27 to 34 percent growth in gross written premiums and adjusted net income of $12mn to $13mn, as well as a secondary offering.

Revo to provide parametric cover for production line failure with industrial IoT partnership

Italian parametric and specialty insurer Revo Insurance has announced a partnership with manufacturing risk management firm Paradigmix to provide business interruption coverage triggered by production line failures.

Ryan Specialty Underwriting Managers names ex-Aon MGA head Rayner as intl CUO

Ryan Specialty has announced several leadership hires within its international specialty underwriting segment Ryan Specialty Underwriting Managers International, including that of Graeme Rayner as chief underwriting officer, international.

Munich Re Specialty eyes Spanish entry led by former Allianz duo

Munich Re Specialty has begun the process of entering the Spanish primary specialty commercial insurance market, with the intention to begin underwriting in 2025.

Deloitte’s Johal on growth, M&A, and talent: “Specialty lines and technology are driving the future”

The (re)insurance sector is set for significant shifts, driven by specialty growth, a focus on climate, and heightened M&A activity, according to Guru Johal, vice chairman and partner and global speciality and reinsurance markets leader at Deloitte.

Optio acquires Circles in “largest” European acquisition to date

Specialty MGA Optio Group has acquired Luxembourg-based MGA Circles Group in what it describes as its largest European acquisition to date.

Kingfisher acquires MIS Motorsport’s UK & Ireland commercial unit

UK specialty intermediary Kingfisher Insurance, a subsidiary of NSM, has acquired MIS Motorsport’s commercial business in the UK and Ireland.

Highstreet forms Goodreau-led specialty services and underwriting unit Brightstone

US retail broker Highstreet Insurance Partners has established a newly created subsidiary Brightstone Specialty Group to provide specialty services and underwriting, as the US retail also noted it is on course to surpass $600mn in revenue this year.

Miller completes acquisition of specialty broker Bruzon

Miller has completed the acquisition of Madrid-based commercial insurance broker Bruzon Correduría de Seguros y Reaseguros.

Rokstone bolsters US casualty division with Apollo and Convex hires

Expansive specialty MGA Rokstone has bolstered the ranks of its recently launched US casualty division with the hires of Ben Baker as deputy head of US casualty and Alex Fitzpatrick as senior underwriter.

Westfield Specialty extends wholesale commitment with dedicated UW teams

Westfield Specialty is building dedicated wholesale underwriting teams in US financial lines and professional liability for cyber and E&O as it doubles down on its commitment to the distribution channel as part of its growth strategy, E&S Insurer can reveal.

Gallagher launches DeSilva-led Bermuda specialty unit

Gallagher has launched a new Bermuda specialty insurance business led by managing director Jasmine DeSilva.

Guy Carpenter: Specialty cedants expect rates more in line with risk profile at 1.1

Specialty reinsurance buyers are expected to place equal emphasis on value and price of coverage as they enter discussions over the upcoming 1.1 renewals, according to a report from Guy Carpenter.

Lockton Re hires Gallagher Re’s Meyer as head of specialty

Lockton Re has hired Tom Meyer from Gallagher Re as head of its specialty reinsurance broking division, with Paul Upton moving up to chairman of the unit, The Insurer can reveal.

Lloyd’s Neal: Now is a “great time to be in insurance” amid global specialty opportunity

Lloyd’s CEO John Neal has called on (re)insurers to harness the growth potential of the commercial, corporate and specialty segment to strengthen the sector’s relevance in the face of rising global instability and volatility.

War and political risk continue to loom over specialty lines at 1.1: Aon

The aviation reinsurance market will be closely monitoring the outcomes of legal disputes related to aircraft leasing claims throughout the remainder of the year, with any crystallisation of losses likely to have “very meaningful” impacts on placements at 1.1, according to Aon.

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