Chubb
-
There is a high likelihood the property claim will be subrogated.
-
The value of the bridge is estimated at $1.2bn.
-
However, it doesn't prove a mutual is a wrong concept for the cyber market.
-
The project is not immediately moving forward due to lack of client demand.
-
This publication revealed Chubb was planning to re-enter the London TL market.
-
Mo joins from Chubb, where she was country manager for Sweden.
-
Strong reinsurance results have absorbed long-tail reserve charges.
-
Chubb withdrew from writing transactional risk in London and all territories outside the US in 2020.
-
The newly created role will see Frederico Spagnoli oversee Chubb’s consumer lines in 51 countries.
-
Chubb declared at the last minute that it would not contest the English court’s jurisdiction, in contrast to every other reinsurer being sued by aircraft lessors.
-
The newly launched offering will cover media liability, cyber, property, terrorism, casualty and legal expenses.
-
At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.
-
Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
-
The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.
-
The consortium is supported by 11 other Lloyd’s businesses.
-
Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.
-
The carrier was originally in the market for extra capacity at January 1 before pulling plans.
-
Edward Kopp will be succeeded in his current role as president of Chubb Korea by Janice (Jae-Kyung) Mo – the first woman to lead a general insurance business in Korea’s history.
-
The CEO said Chubb has ‘never seen better pricing’ on primary property.
-
O’Donnell will focus on strategic and tactical operations within global reinsurance alongside his continuing responsibility for Chubb Tempest Re USA.
-
The cargo market is undergoing staffing turmoil as firms vie to secure talent.
-
The Singapore aviation hub is part of a strategic regional focus for the aviation team from Chubb Global Markets.
-
The executive will be responsible for the growth and profitability of the carrier’s casualty lines in 51 countries and territories outside North America.
-
The executive will have responsibility for lines including property, casualty, professional lines, energy and marine.
-
In early January, the company completed the transactions to increase its position in Huatai to 64.2% from 47.3%.
-
Personnel movement in the class remains elevated as carriers look to secure top talent while underwriting conditions are profitable.
-
Chubb has experienced high turnover within its marine team in the past year.
-
Benoit Chasseguet will be succeeding Veronique Brionne following her decision to leave the company.
-
The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
-
Wayne Ashley will report to Jim Wixtead, senior vice president of Chubb group and president of Chubb Tempest Re.
-
Maria Guercio, Melanie Markwick-Day and Jared Concannon join the unit as executives.
-
Evan Greenberg addressed questions about property cat reinsurance on a Q1 earnings call.
-
Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.
-
Chris Collins will report into Simon Abbott in his new role, and will help the carrier expand its airline portfolio.
-
The hire comes after the carrier recently appointed AGCS’ Chris Turberville to lead the hull team.
-
New demand for reinsurance cover that was expected to come to the market around the January renewals is being reined in as insurers recognise the extent of the hardening market.
-
Alex O’Brien succeeds David Kirk, who retained his cargo product head responsibilities following his promotion to head of marine in July.
-
Analysts said attachment points are now far behind the rate of inflation over the period.
-
Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.
-
Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.
-
Chubb has seen several exits from its marine team this year and restructured its leadership.
-
The insurer takes a $1bn retention on US losses but could have made some reinsurance recoveries.
-
With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.
-
The appointment comes following the departure of Renette Pretorius, who is joining Berkshire Hathaway Specialty Insurance.
-
The executive has worked at the carrier for over nine years, initially within the accident and health team.
-
Josh Hearnden becomes the second recent acquisition to the Mosaic PV team of late, following the news in May that Luke Bennett was joining from WRB Underwriting.
-
In his new role, Martin Audis will be based in London and will report to Nigel Griffiths, regional head of general aviation.
-
The investor will manage a portion of the Bermudian’s assets.
-
The market is taking its first proactive steps to resolve issues posed by the massive systemic exposures it is running.
-
The resignations follow the exit of hull chief James May, who is joining Convex.
-
David Kirk will oversee CGM’s marine portfolio underwritten in the London wholesale market.
-
QBE Europe’s UK surety manager Tom Johnson is leaving the company and looks set to join Chubb, Insurance Insider can reveal.
-
Shareholders approved a second proposal asking for a report detailing how Chubb is addressing greenhouse gas emissions.
-
Plus this week’s Q1 results and all the top news of the week.
-
The carrier split its specialty composite treaty into two contracts to get its programme home.
-
The carrier has extended the limit to $1.275bn for the year to 31 March 2023.
-
The figure was partially offset by $15mn of pre-tax unrealized gains, bringing a total net realized and unrealized loss of $58mn.
-
Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.
-
The new lead underwriter has almost 30 years’ experience including stints at Chubb, Faraday and Howden.
-
Chubb has also received demands from shareholders for more information on its climate-related policies.
-
The appointment comes after Allison Wilkinson departed Chubb to join Convex.
-
The insurer expects to close the transaction during 2022 upon Chinese regulatory approvals.
-
The senior underwriting figure will lead one of the bigger aviation portfolios in the London market.
-
Nathalie Meyer, Nikolay Dmitriev and Christian Graber have been promoted to fill Dawn Miller’s shoes, was she leaves to join Lloyd’s as commercial director.
-
Based in London, Janet Edey will be responsible for developing Chubb’s financial lines business in the UK, Ireland and South Africa.
-
Chubb has promoted Emma Walker to the head of aerospace role for Chubb Global Markets, giving her responsibility for managing and developing the carrier’s global aerospace portfolio.
-
Analysis of financial data shows that the last decade has seen a marked increase in the proportion of premiums ceded by carriers in all sectors.
-
The transaction will near-double the size of Chubb’s A&H book and increase its Asia premium from $4bn to $7bn.
-
The former South Africa A&H head will return to London for his new role.
-
Nazir boasts 20 years of industry experience, and has served at Chubb for nearly four years.
-
Nine (re)insurance firms in London took part in the programme for career-break women, organised by diversity and inclusion firm Inclusivity and supported by the Insurance Families Network.
-
Convex has been building out its FI team, which is headed up by Allison Hollern.
-
The surge likely reflects talk in the buy-side community fuelled by tracking the latter's private jet.
-
Industry veteran Hilda Toh has been promoted to oversee P&C strategy for the three countries, after her predecessor Mark Roberts was given the division president role.
-
Poliquin will oversee product, business development, underwriting operations, and overall profit and loss performance for Chubb’s property and casualty businesses in Latin America.
-
Chubb names Ben Campey and Chris Templeton as senior managers for its United Kingdom and Ireland casualty team.
-
The carrier has also promoted Sara Mitchell and Mark Roberts to top Emea roles.
-
Staff movement has been high in the sector, as new capacity returns to the market after years of correction.
-
Nicholas Hawkins, Chubb’s Peter Kelaher and Munich Re’s Scott Hawkins take director roles at the Australian industry organisation.
-
The Chubb CEO seeks to quash speculation the carrier may return with a sweetened takeover proposal.
-
Plus in-depth analyses of the accident and health and airlines markets.
-
Chubb reiterates its disappointment about The Hartford’s refusal to engage.
-
Chubb offered to pay up to $70 per share for the business after its $65 offer was publicly rejected.
-
Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
-
The one-time suitor releases a statement after a report that Allianz is contemplating an offer of its own.
-
The Week in 90 Seconds: Biometric data and cyber; Greensill collapse; Guy Carpenter’s Priebe on pandemic risk; Texas storm; Marsh McLennan’s Glaser
-
Chubb made an unsolicited bid for the carrier last week at a 25% premium on its weighted average share price.
-
Plus the latest executives on the move and all the top news from the week.
-
The proposed consideration represents a mix of stock with the majority in cash.
-
The carrier says its board of directors is "carefully considering" the proposal.
-
The Hartford share price jumps 12% on report of deal talks with Chubb.
-
Derrick Potton and Alex Fell will work on business development and management liability respectively.
-
The division will service large corporate energy companies in EMEA, Asia Pacific and Latin America.
-
Underlying margins expanded faster than they did in Q3 as Chubb reported 11.5 points of rate improvement above loss trend in NA commercial.
-
Chubb and Crum & Forster are among the markets requiring further underwriting checks and introducing exclusions.
-
The outgoing finance chief will stand down in July but stay on in an advisory capacity until the end of the year.
-
The move follows a similar decision by Marsh & McLennan Companies to freeze political donations.
-
Earlier, the APCIA president criticised the "mob violence" of the protestors.
-
The carrier said there were plans to grow the team further and its US and non-US sides would be merged.
-
The new Syndicate 1796 is the conduit for the initiative and is backed by 14 global (re)insurers.
-
The carrier assembles the team following the creation of its Chubb Studio digital platform.
-
The move reflects the executive's contribution to the company and his group-wide responsibilities.
-
The court finds no “justifiable doubts” around the arbitrator’s impartiality after the US oilfield services company alleged bias.
-
The new hires join as CFO and COO under recently arrived CEO Juan Andrade.
-
A memo circulated to brokers indicates the extent of the hardening underway in the London D&O market.
-
Diego Sosa will take on the role from 1 October subject to regulatory approval.
-
Staff displacement continues in the contingency market following huge Covid-19 losses and hardening rates.
-
The carrier’s decision to cease writing marks the first major withdrawal of capacity from the M&A insurance market.
-
John Lupica steps into the role of president for North America commercial and personal insurance.
-
The report included elevated cat losses, including Covid, in line with the numbers pre-announced three weeks ago.
-
The current cyber and information technology underwriter replaces Steven Goldman, who moves roles as a consequence of a leadership change at E&S platform Westchester.
-
Chubb’s former European head of political risk and credit will co-lead the unit alongside Navaid Farooq.
-
Chubb and CNA fell by 7 percent, while AIG closed the day down 10 percent.
-
Allianz, Chubb and WRB are among the carriers that oppose the centralisation of BI claims.
-
In a note to staff, the Chubb CEO also said that civil society is a participant sport.
-
The insurance executive expects losses related to Covid-19 to exceed $100bn for the industry.
-
Daiichi secures an anti-suit injunction against the insurer regarding a claim for damage to cargo of iron ore in 2014.
-
Michelle McLaughlin will lead the division and report to Ben Rockwell.
-
A public insurance certificate unearthed by Reuters shows that the insurers are involved despite pledges to fight climate change.
-
Peter Bremner will also be Eurasian and African financial lines head.
-
The case brought by a New Jersey restaurant comes as part of a wave of litigation by hospitality businesses against their insurers.
-
Robert Wilson was previously business development manager for the global markets unit.
-
Annmarie Hagan has taken over from outgoing chief accounting officer Paul Medini.
-
The Simon Wiesenthal Center teams with a litigant group established by four high-profile American chefs.
-
Coronavirus’ unwanted record; John Neal speaks out; structured credit freezes up.
-
RLI shares plunged by nearly 12 percent, while and Argo dropped over 6 percent.
-
The Chubb CEO said capital and liquidity “will be king” for carriers in the current environment.
-
The insurer reports a 0.1-point improvement in its P&C combined ratio for the quarter.
-
Evan Greenberg says the industry should prevent self-inflicted harm from government attempts to re-write insurance contracts.
-
If insurers want to lead us out of this crisis, and not be ruined by it, they need to stick to the straight and narrow.
-
Among the biggest gainers was Fairfax Financial, which jumped by nearly 10 percent.
-
The Chubb CEO calls on Congress to shield corporate America from Covid-19-related litigation as the US begins to re-open.
-
Speaking on Fox Business, the Chubb CEO explained that testing and social distancing protocols were essential.
-
The Great American Economic Revival industry groups include senior executives from sectors including energy, hospitality and banking.
-
At least one insurer, Chubb, has paused quoting casualty cover for new healthcare clients.
-
Scott Holbrook succeeds former Key Risk president Robert Standen, who takes the helm of other operating units.
-
The insurer is donating $10mn to relief efforts to support the financially vulnerable.
-
The carrier has yet to find evidence that the incident affected its network.
-
Carriers are retracting quotes as they balk at taking on further risk amid the Covid-19 pandemic, according to market sources.
-
Allstate shares shrink 5.3 percent, while Axis shares lose almost 5 percent of their market value.
-
He will lead the large account segment, succeeding Bill Hazelton, who is now head of North America claims.
-
The appointment of Scott Gunter as Axa XL CEO has surprised the market.
-
The move comes amid a global portfolio review at Allianz’s flagship commercial insurance unit.
-
Jarrod Schlesinger said insurers should engage with industry groups on the issue.
-
The underwriter was previously head of A&H for France, and replaces Arjen Van Dun.
-
The comments came as Chubb shares rose more than 6.3 percent following the release of fourth quarter results.
-
The insurer reported operating earnings of $1bn Q4, net of tax, up 11.2 percent from the same period a year earlier.
-
The lawsuit over $74mn in losses from a 2013 data breach is closely-watched by the cyber insurance market.
-
The carrier has promoted Nadia Côté, Veronique Brionne and Florian Eisele to new roles.
-
Wildfires, tornadoes and civil unrest in Hong Kong and Chile contributed to losses.
-
The move comes after Chubb’s global head of upstream left in September to join AIG.
-
ATI counts 16 African nations and the European Investment Bank among its shareholders.
-
Ben Rockwell, James Williamson and Alex Wells have taken new leadership roles at Chubb’s North America business.
-
Significant uncertainty remains over the final loss quantum to the property policy.
-
The executive has held casualty positions at AIG, Ironshore and Endurance.
-
The fundraising was designed “for general corporate purposes”, including possible strategic investments or acquisitions.
-
The former UK life sciences manager replaces Karen Strong, who has left the business.
-
The Swiss carrier has agreed to purchase an additional 15 percent stake in the Chinese group and plans on taking another 7.1 percent slice.
-
The former Chubb global markets president fills the post left vacant by Paul Culham.
-
Jason Keen will take over from Matthew Shaw, who is leaving the company.
-
Now is the time to prove the growth rationale behind the 2015 Ace-Chubb merger, Inside P&C analysts said.
-
The CEO says pricing on London wholesale lines was up 17 percent in the quarter.
-
Chubb’s combined ratio improved by 0.7 percentage points to 90.2 percent.
-
The executive will head operations for the medium-sized business insurance segment.
-
Size of payout will depend on whether CBI sub-limit of $100mn holds, with insured seeking $450mn.
-
Three underwriters have been put under consultation as a result of the decision.
-
Joe Vasquez takes on the role as Kevin Goulding retires.
-
AIG, Chubb, Markel, Swiss Re and Zurich are among the carriers which face potential losses from the tour operator's collapse.
-
The executive, who has been with Chubb for 16 years, will join AIG as head of UK energy.
-
Starr and USAA CEOs also agree to promote benefits for staff, customers and communities in leading their companies.
-
The move follows regulatory scrutiny in other states over the offering of Carry Guard policies.
-
He takes over from Juan Andrade, who this morning was named as incoming Everest Re CEO.
-
The appointment counters expectations the (re)insurer would choose an internal replacement for its CEO.
-
The Chubb CEO hit out at the wave of litigation which often follows acquisitions.
-
The Chubb chairman and CEO says a broad acceleration of rate growth is sustainable.
-
The insurance giant enjoyed improved pricing and an improved underwriting environment during 2019's second quarter.
-
Insurers are increasing reserves due to a new laws expanding child victim compensation.
-
The lawsuit against carriers including Chubb, Allianz and Markel follows the passage of NY’s Child Victims Act.
-
Chairman and CEO Greenberg say the moves reflect the carrier’s commitment as a “steward of the earth”.
-
The carrier is the first major US insurer to take action on fossil fuel underwriting.
-
The insurer led the pack with a 16 percent share of the cyber market last year, according to a new report.
-
Coverage options are now becoming more standard after years of expansions for new risks, Chubb’s cyber product leader said.
-
The appointment follows a spate of moves in the hardening aviation market.
-
Chubb, Allstate and Liberty Mutual are among insurers seeking reimbursement for claims from the utility.
-
Angus Roberts will report to Chubb’s aviation CUO John Wadhams.
-
Chubb CEO sees market as “rational” and expects “continued forward momentum”.
-
The insurer's first quarter results were in line with Wall Street expectations.
-
Market sources anticipate a claim of more than $7.5mn for the Shangri La Hotel.
-
London-based D&O writers have “woken up” to the threat of creeping claims frequency and severity, sources said.
-
Insider Sara Mitchell replaces David Robinson, who is taking a sabbatical.
-
Jonathan Kennett will lead the operation following the fusion of the UK and Ireland and Chubb Global Markets teams.
-
The preliminary figure includes an estimated $30mn in legal costs.
-
This year’s loss activity 'well within our risk tolerances and expectations', syndicate says.
-
The carrier declined to confirm whether it will appoint a replacement.
-
Richard Porter will assume the role of head of financial lines after serving as general counsel for Chubb Bermuda.
-
After Hurricane Katrina, a slew of big composite insurers including Axa and Chubb spun off their reinsurance arms, citing their excessive volatility.
-
A Washington state regulator hit Illinois Union with a cease and desist order against underwriting the policies.
-
The practice is one of five the P&C insurer operates in the UK and Ireland.
-
Repeated record wildfire losses have seen carriers scale back their offerings.
-
Antares managing director Stephen Redmond will move into a role at parent QIC Group.
-
Report shows insurers are increasing scrutiny of sexual harassment risk.
-
Paolo Pitton joins from Chubb to lead the initiative.
-
The executive will oversee major accounts in 17 countries.
-
London wholesale rates gained 12% in the final quarter thanks to “nimble” action, CEO Greenberg reports.
-
Chubb reported fourth-quarter operating income above Wall Street estimates, with a 93.1 percent P&C combined ratio and solid investment result.
-
The appointment reflects a shift at Zurich within its commercial business towards specialty lines.
-
Banco de Chile will distribute Chubb’s life and general insurance products.
-
Edward Levin will report straight to Christopher Townsend, AIG’s general insurance CEO.
-
The insurance R&D body’s new recruits include RFIB’s Beard and Lloyd’s data chief Crooks.
-
Ramlal joined the joint venture between Chubb and BlackRock back in November.
-
Over 90 percent of stocks in the I50 posted gains last week.
-
The latest hire joins from Chubb.
-
Insurers of all sizes have been hit with claims from the record breaking Camp and Woolsey wildfires.
-
Losses from Hurricane Michael have trended at the top of loss estimates.
-
The losses include the Camp and Woolsey fires and Hurricane Michael.
-
The $15bn-$20bn wildfire losses have caused the ILS-dominated retro market to seize up.
-
Chubb is the latest (re)insurance company to report losses from this year’s fires, which have caused historic amounts of destruction.
-
Chubb and Swiss Re also provide capacity for the facility, which targets sharing economy businesses.
-
Industry saw lower cats, while premium increases outpaced growth in incurred losses and expenses.
-
Above-average cat losses dominate discussions during the P&C earnings season.
-
The program will take effect on 1 December through the end of 2019.
-
The Camp and Woolsey Fires have now destroyed more than 9,000 buildings.
-
Analyst predicts Chubb and Travelers could also pick up $400mn if industry insured losses hit $10bn.
-
Fresh set of losses will make 2018 an above-average cat year for the industry.
-
The Lloyd’s and company market carrier also draws on a Chubb alumnus for its HR chief.
-
Executives faced pointed questions about workers’ compensation claims trends and casualty pricing during Q3 conference calls.
-
The offering combines D&O, outside directorship, E&O and employment practices liability coverage
-
Although estimates for the Q3 disasters vary, in aggregate the events are likely to generate insured losses north of $10bn.
-
The executive says pricing is not keeping pace with loss-cost trends.
-
In this new role, Vasquez will oversee Chubb’s $4bn personal accident and supplemental health insurance business worldwide, including operations of combined insurance.
-
Chubb beat Street EPS estimates and reported an operating RoE of 8.7 percent, with earnings benefiting from its ceded reinsurance strategy
-
Judy Gonsalves will succeed Joseph Clabby, who has been named chairman of Chubb Bermuda.
-
State Farm writes more than a quarter of homeowners’ cover in the state.
-
The global insurer said the losses came from more than 20 separate weather events over the quarter.
-
Parsons will oversee Chubb’s sales and distribution strategies across the entire US, as well as implement best sales practice and measuring key sales initiatives.
-
Newly enacted laws extend deadlines and coverage requirements for insurers.
-
Tim Barziza replaces Bill Turnbull, who is set to retire at year-end.
-
Jeremiah Konz will assume his new role 1 January
-
Dawn Miller was previously US president and CEO for commercial lines at Axa Insurance.
-
This publication's annual survey includes over 200 named executives across 36 publicly listed P&C (re)insurers.
Most Recent
-
Mapfre Q1 net profit jumps 70% to EUR215mn
25 April 2024 -
Former Aon COO Platt joins Cytora global advisory board
25 April 2024 -
Ariel Re, Hiscox Re ILS launch cyber-cat group
25 April 2024 -
Lockton promotes Schlesinger and Sandford in crisis team
25 April 2024 -
Howden: The strategic imperative to add a fourth backer
25 April 2024