Aspen releases Lillelund early to take up senior AIG postAspen Re’s departing CEO Thomas Lillelund will be free to attend a major gathering of senior AIG executives in New York later this week and will be released from his employment obligations almost nine months earlier than his maximum contractual terms, the Bermudian (re)Insurance group confirmed late last week.
Munich Re builds out US specialty team with two hiresMunich Re Specialty Group has appointed Ben Tucker and Steven Weiss to lead it’s Americas underwriting team.
Aon boosts cyber reinsurance teamAon has made two promotions within its cyber reinsurance business, with Catherine Mulligan and Luke Foord-Kelcey both moving into elevated positions at the broking house.
Private equity houses put $213mn behind Sirius’ go-public dealA consortium of private equity firms have put $213mn behind a $2.2bn deal that will see Chinese-owned Sirius become a publicly-listed firm in the US.
Axis makes Hamilton head of A&H insuranceAxis has promoted Jay Hamilton to lead its global accident and health (A&H) insurance offering, the Bermudian announced yesterday.
Malloy builds out new Acrisure division with senior Pioneer hireFast-expanding US broking house Acrisure has tapped the Lloyd’s MGA Pioneer for its New York-based chief operating officer Stephen Sitterly, re-Insurance.com can reveal.
Greenberg calls on China to 'level the playing field'Former AIG patriarch and now head of the Starr Companies, Hank Greenberg, has called on China to reform its protectionist stance to overseas trade and investment arguing that it is the country’s own “interest to reform”.
Hurricane Lane nears Hawaii as a Cat 3Hawaii has been inundated by 19 inches of rain overnight as Hurricane Lane approached the southwest tip of the state’s Big Island bringing flooding and landslides.
State Farm and Heritage control storm-warned Hawaii’s homeowner marketUS giant State Farm dominates almost a third of the $383.6mn homeowner’s market in Hawaii, which stands in the path of Category 3 Hurricane Lane.
Hurricane Lane threatens to wreak $8bn of damage in HawaiiHurricane Lane, the Category 4 storm that is bearing down on Hawaii, threatens almost 50,000 homes with a reconstruction cost of around $8bn, according to analysis from CoreLogic.
Navigators faces break fee of up to $68.3mn if rival bid emergesNavigators will be on the hook to pay The Hartford a break fee of up to $68.2mn should the US specialty carrier receive a rival bid.
Hawaii braced for category 5 Hurricane LaneHawaii is bracing for Hurricane Lane, a Category 5 hurricane that is on course to skirt the Aloha State later this week.
Navigators buy would expand The Hartford’s geographic reachThe Hartford’s $2.1bn deal to acquire specialty player Navigators would significantly expand the Connecticut-based personal and commercial lines giant’s geographic footprint beyond its US heartland.
The Hartford set to acquire Navigators for $2.1bnUS insurance group The Hartford has agreed to acquire specialty insurer Navigators in a $2.1bn takeover that includes Lloyd’s Syndicate 1221.
FHCF lowers attachment point for $1bn coverFlorida’s Hurricane Catastrophe Fund (FHCF) has lowered the attachment point for its $1bn cover, of which Renaissance Re wrote more than a third.
Ventresca fills newly-created chief strategy role at AxisAxis has appointed Linda Ventresca to the newly-created position of chief strategy officer.
Wanat named Aon’s US commercial broking bossAon has named one of its long-standing servants and the former CEO of its financial services group - Brian Wanat - as chief broking officer for US commercial risks solutions.
Reserve charges adds to Allstate’s $220mn July cat billUS insurance giant Allstate was hit with a $42mn reserve charge last month, taking its total July catastrophe bill to $262mn after a month that was scarred by wildfires and summer storms.
QBE sells US personal lines business to Liberty Mutual’s SafecoQBE North America has offloaded its book of personal insurance independent agency policies to Liberty Mutual-owned Safeco.
Sompo International taps Swiss Re to expand US cyber teamSompo International has appointed Richard DePiero a senior vice president and US cyber product leader for Sompo Pro, the carrier’s professional liability insurance unit.