Insight and Intelligence on the London & International Insurance Markets

8 July 2015

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Ace-Chubb: history trumps dilution

Evan Greenberg has bet company, reputation and five years of shareholder value on the biggest ever M&A deal and integration exercise in P&C insuranceRead more

Aon follows Marsh with $500mn terrorism facility

Aon has rolled out a major new US and international terrorism facility that further erodes the premium pot of a fast-shrinking open market, The Insurance Insider understandsRead more

Axis opts for $400mn casualty quota share

Bermudian insurer Axis has decided to restructure its professional lines reinsurance protection to create a major new global quota share, The Insurance Insider can revealRead more

Reinsurers wary of the ‘Ace-ification’ of Chubb

Reinsurers are bracing themselves for a two-fold blow from the proposed Ace-Chubb deal, with the impact of treaty consolidation expected to be compounded by Chubb adopting a more aggressive approach to buyingRead more

Direct Line secures 10% rate cut

Major UK personal lines insurer Direct Line secured a risk-adjusted rate reduction of around 10 percent as the speed of softening in the UK market decelerated significantly, The Insurance Insider understandsRead more

Cat offers underwriters hope but wider reinsurance pressures continue

Although broker mid-year renewal reports provided further evidence of a "soft market slowdown" in peak zone cat business, the broader reinsurance picture remained one of intense competitionRead more

News analysis

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Analysts mull Ace valuation following 29% dilution

Despite analyst support for the Ace-Chubb deal's strategic rationale, the 29 percent upfront dilution to Ace's tangible book value leaves open the question of whether the earnings accretion is sufficient to support the surge in the carrier's valuation on a price-to-book multipleRead more

Chubb 2.0 to become a market-leading force

Ace's $28.5bn landmark acquisition of Chubb is set to create a dominant franchise in the P&C industry, in a deal primarily driven by growth opportunitiesRead more

Willis-Towers Watson takes aim at MMC and Aon

Described by sources close to Willis as "one of the best kept secrets in the insurance business", the "merger of equals" with Towers Watson left some observers struggling to decipher the rationale behind the $18bn dealRead more

P&C stocks outperform in Q2 as M&A fever fuels Bermudians

The average share price for the Insider 30 universe of P&C (re)insurers climbed 0.74 percent in the second quarter, outperforming the S&P 500, FTSE 100 and Stoxx Euro 600 indicesRead more

Lancashire and Watkins exposed to energy slump

London-listed insurer Lancashire and Munich Re's Lloyd's platform Watkins are among the carriers most reliant on the distressed energy market for premium income, analysis from The Insurance Insider showsRead more

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Mergers & Acquisitions

Ace-Chubb: history trumps dilution

Evan Greenberg has bet company, reputation and five years of shareholder value on the biggest ever M&A deal and integration exercise in P&C insurance.Read more

Trading RiskAll Articles
The reinsurance convergence market uncovered

WCMA’s Madea follows Ursano to TigerRisk

Willis Capital Markets & Advisory (WCMA) executive Jarad Madea is set to join reinsurance broker TigerRisk, the intermediary announced yesterday (29 June).Read more

Loss fileAll Articles
Major losses and claims tracked

Underwriters secure Sandy victory against Amtrak

(Re)insurers have won a significant victory against US rail operator Amtrak in the latest round of their long-running dispute over payments arising from Superstorm Sandy.Read more

The latest on litigation and legal developments

Ross to appoint mediator in AJ Gallagher dispute

Former AJ Gallagher (AJG) international CEO David Ross, who recently defected to rival broker Towergate, is to appoint a mediator in an increasingly bitter dispute with his former employer.Read more

BriefingsAll Articles
Mapping the regulatory and legislative landscape

RSA under investigation over Irish blow-up

The UK Financial Reporting Council (FRC) has launched an investigation into a number of RSA employees after the carrier was forced to inject EUR200mn to prop up its Irish business in 2013.Read more

Solvency IIAll Articles
All the latest news and analysis as D-day approaches

Latest SII reporting standards well received by industry

Sector practitioners have welcomed the publication earlier this month of the latest set of Solvency II implementing technical standards (ITS) by the European Insurance and Occupational Pensions Authority (Eiopa).Read more

In-depth coverage of the run-off sector

Ace-Chubb deal could spark $500mn legacy sale

The $28.3bn acquisition of historic US carrier Chubb by comparative newcomer Ace could spark a $500mn asbestos legacy sale, The Insurance Insider understands.Read more

Inside FACAll Articles
Full coverage of the facultative reinsurance market

Aon Benfield Fac CEO leaves for Guy Carp

Aon Benfield Fac CEO Paul Summers has resigned and will join rival GC Fac, sister title Inside FAC reported yesterday (8 June).Read more

Insider Comment

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Go when you can…

One of our biggest gripes in the insurance sector is that it is very hard to differentiate our offering in the marketplace. We moan that we are all tarred with the same (almost universally negative) brushRead more

Scriven Profile

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Christopher Williams

This month's profile is HCC Insurance Holdings CEO Christopher WilliamsRead more

Research & Supplements

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Legacy RT

The Insurance Insider Legacy Roundtable 2015

Summer is upon us, which means many will be reaching for the charcoal and last month's issue of The Insurance Insider to get the barbecue fired up and begin eating al frescoRead more

London market roundtable 2015

London Market Roundtable 2015

There is a paradox at the heart of the London market - what makes it so strong is what can also hold it backRead more

Legacy 2015

Legacy 2015

The legacy sector needs to lobby hard at a time when it faces multiple threatsRead more

II Bermuda RT 2015

The Insurance Insider Bermuda Roundtable 2014/15

A visit to Bermuda in December can at times feel like an exercise in voyeurism. And in an unforgiving marketplace for reinsurers, the temptation to linger around Hamilton's bars in search of downtrodden underwriters drowning their sorrows is difficult to resistRead more

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