Intact facing C$115mn Q4 cat billCanada’s Intact Financial Corporation has warned investors its fourth quarter 2019 results will include a pre-tax catastrophe bill of some C$115mn (US$85.8mn), equal to $0.60 per share.
Chaucer greenlighted to write US excess and surplus linesSpecialty carrier Chaucer has received regulatory approval to write excess and surplus lines across the United States through its Ireland-domiciled insurer, Chaucer Insurance Company DAC.
NFP adds USI’s Stevenson to west coast teamNFP has continued its recent expansion drive by hiring USI’s Tyson Stevenson to lead its sales function in the western region in the US, The Insurer can reveal.
Sompo International names Carter CUO for GRS unitSompo International has hired David Carter to serve as chief underwriting officer and executive vice president of its global risk solutions unit.
Aon’s veteran power and utilities specialist Nadel retiresAon’s long-serving executive Marshall Nadel has left after 31 years with the broker, with the industry veteran retiring after a career that stretches back to 1980.
Texas E&S premium increased 14.4% in 2019The Surplus Lines Stamping Office of Texas (SLTX) has revealed that E&S premium in the state reached a record $6.95bn in 2019, up 14.4 percent over 2018’s $6.08bn of premium.
QBE NA hires former Aon exec Fitzgerald as Grange replacementQBE North America has brought in former Aon executive Tom Fitzgerald as the new president for its specialty and commercial business, replacing Jeff Grange who left the company to join Argo late last year.
Risk Strategies’ wholesale arm formally launches as One80One80 Intermediaries, the Matt Power-led wholesale broking arm of expansive US broker Risk Strategies, has officially opened its doors in a move first revealed by The Insurer in September.
Low insurance penetration likely to limit PR quake impactPuerto Rico’s governor has declared a state of emergency after a magnitude 6.4 earthquake rocked southern Puerto Rico, a day after a magnitude 5.8 quake struck nearby.
Genstar to sell half of its Palomar holding in latest stock offeringGenstar Capital is set to cash in another significant chunk of its investment in Palomar in the third public offering by the fast-growing quake specialist in the last nine months.
Piiq wins Continental Aerospace Technologies account from MarshPiiq Risk Partners – BGCI’s newly christened aviation and aerospace (re)insurance intermediary – has won the Continental Aerospace Technologies from Marsh, The Insurer can reveal.
Sompo International hires US management liability and FI head from XLSompo International has named Ray Santiago as executive vice president and head of the US commercial management liability (CML) and financial institutions teams (FI).
Aon eyes SME growth after CoverWallet deal completesAon has completed its previously announced acquisition of CoverWallet with the global broking giant looking to utilise the insurtech’s technology, data and analytics capabilities and further expand its offerings to small and medium-sized businesses.
Beach enters A&H with RICS acquisitionAcrisure-owned Beach & Associates has entered the accident & health reinsurance market with a deal to buy Atlanta-based specialist broker Risk and Insurance Consulting Services (RICS), The Insurer can reveal.
Topsail Re hires Arch Re’s Bishop as CUOCayman Islands start-up reinsurer Topsail Re has hired Jay Bishop from Arch Re as its new CUO, The Insurer can reveal.
Farmers is biggest beneficiary of James River’s Uber withdrawalFarmers has substantially increased its Uber exposure after the US personal lines giant picked up the bulk of the states that James River Group Holdings quit at the end of 2019.
Munich Re Specialty Group IS promotes Yeats to inland marine headMunich Re Specialty Group Insurance Services (MRSGIS) has promoted Michael Yeats to head of inland marine for North America, The Insurer can reveal.
Cost of $1.33bn traditional NFIP reinsurance climbs 10%The Federal Emergency Management Agency (Fema) paid just over 10 percent more for the traditional reinsurance placement bought on behalf of the National Flood Insurance Program (NFIP) at 1.1 despite securing less limit on the lower layer of the cover.
Liberty Mutual picks up Uber business dropped by James RiverLiberty Mutual is the latest addition to Uber’s panel of insurers with the Boston-based carrier entering some of the states vacated by James River Group Holdings after it ended its relationship with the ride sharing company at the close of 2019 owing to heavy losses.
Former Paragon wine program exec Locher joins Allied Public RiskGregory Locher, whose resignation from Paragon sparked a legal dispute between the MGA and Allied World, has resurfaced at managing general underwriter Allied Public Risk.