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Floridian shares fall following catastrophe announcements 

UPC closed down nearly 6 percent Friday following its announcement it would absorb about $16mn in net cat losses from second quarter events.

Jimcor hires RT’s Calhoun to launch energy practice

Alicia Calhoun serves as energy oil and gas practice leader and is based in a satellite office in Houston, Texas.

Apollo reportedly considers bid for credit insurer Coface

The private equity firm’s reported interest comes after its acquisition of specialty insurer Aspen last year.

Select Risk Services eyes further growth after early successes

The brokerage has placed $4mn in premium year-to-date following its launch in November 2018.

• Willis swoops for JLT aviation broker Alexandris
• ILS specialist Livingston returns to Willis Towers Watson
• CoreLogic sees private flood and wind Barry losses of $300mn to $600mn
• ABI mulls legal action against UK government on Ogden
• UPC estimates $16mn in net Q2 cat losses
• US brokers’ organisation takes issue with Senate NFIP reforms

Opinion

Industry structure plus no skin in the game means no sustained hard market

In insurance we deal in material uncertainty and the materiality of that uncertainty is changing all the time

The debate over data sharing goes right to the heart of what the Lloyd’s market should be

The insurance industry shouldn’t take on crypto risk that it doesn’t fully understand

In Brief

Heatwave sets Wisconsin power stations ablaze

CNA appoints new Chicago branch manager

AIG brings Love from Goldman Sachs

Ed hires from Price Forbes for facultative reinsurance head

Darag to acquire One Re in first UK transaction

Hamilton’s Albo elected deputy ABIR chair

Analysis

BGC, McGill & Partners to challenge aviation broking oligopoly

They face a Herculean task but the two start-ups could break the stranglehold of MMC, Willis and AJG in the aviation market.

Delegated authority expansion deemed ‘unjustified’ in market survey

The Insurance Insider’s Market Sentiment Survey, in association with EY, found that the majority of market figures think growth will be difficult to sustain.

Downstream energy rates expected to accelerate after $1bn loss tally

Underwriters said rate rises of 20 percent plus were needed, with some pushing for hikes of as much as 70 percent.

Insider 50 slips against mixed equities backdrop

London carriers and global reinsurers posted the steepest falls last week.

Jordan and Horner win the 2019 Political Violence Rankings

Meanwhile, Canopius’ George Connell and Tysers' Charlie Skipworth-Button have emerged as rising stars.

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