Company Example A

Authorities in California have reportedly started investigating a fire at the Torrance oil refinery in Los Angeles that came two years to the day after a previous explosion at the plant.

Allied World-Elseco aviation deal; Marsh offers Brexit ‘plan B'; National Lloyds sale pulled; Nichols resigns as Axis Re CEO; NSW losses hit $53.8mn; Enstar to sell Pavonia life for $120mn; Chubb names Europe COO; Bahrain insurer mergers; Greenberg divests $26mn Validus stake; Investment result boosts Brit; IAG InsurTech hub launch; Tower under review; Fairfax $1bn investment loss; Swiss Re appoints global claims head; Arcus syndicate manager; Soft US P&C market to continue; Maiden auto re

The high level of commissions and operating costs in Lloyd's and the London market are unsustainable and put carriers at a "competitive disadvantage", Navigators CEO Stan Galanski has claimed.

Aon is seeking $54mn after a raid by rival broker Alliant reduced its central California team of more than 80 people to just seven almost overnight.

AIG's mammoth $5.6bn reserve charge dominated headlines last week, but there was also significant disclosure on the insurer's landmark adverse development cover (ADC) with Berkshire Hathaway in its fourth quarter earnings presentation.

After looking set for a merger with Endurance following its parent's agreed $6.3bn acquisition of the Bermudian (re)insurer, Sompo Canopius may now continue as a standalone entity.

Insurance group Hyperion has appointed Mark Johnson to lead its specialty marine business, FP Marine Risks, which it will fold into RKH Specialty in April.

Aviation underwriters and their representatives are working to ensure multi-year policies are not interrupted by the UK's retreat from the EU.

The Insurance Insider's index of 50 P&C (re)insurance companies was relatively unchanged from the previous week's close at 1,055.45 index points.

A timeframe of six to eight weeks under the proposed London market insurance-linked securities (ILS) framework is unlikely to be competitive, according to Willkie Farr & Gallagher.