Jairo Ibarra

M&A

Everest exploring sale of Canada and LatAm units amid retail exit plans

Sources said that the businesses in Canada and LatAm were part of Everest’s original plans to sell its retail book.

Jairo Ibarra, 29 October 2025

M&A

Everest books ~$301mn purchase price in AIG retail renewal-rights deal

AIG has agreed to pay Everest $10mn per month for nine months for transition services.

Jairo Ibarra, 29 October 2025

Talent

Gallagher Re recruits BMS’s Housse as US head of fac

Sources said he will join the reinsurance brokerage next year, after his garden leave expires.

Jairo Ibarra, 23 October 2025

M&A

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Charles Taylor retains boutique bank after debt renegotiation

The company and its main debt provider Ares agreed to relax its debt terms in April.

Adam McNestrie, 23 October 2025

M&A

Amwins and CRC in the hunt for TL specialist MGA Euclid Transactional

The Jay Rittberg-led program manager kicked off a strategic process in August.

Adam McNestrie, 21 October 2025

Brokers

Gallagher launches LatAm auto-follow facility Galaxy

The facility provides coverage for property, terrorism, energy, construction and utilities risks.

Jairo Ibarra, 16 October 2025

Specialty lines

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BMS and Price Forbes win major public entity deals from Howden

Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.

Adam McNestrie, 07 October 2025

Brokers

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Marsh McLennan forms McGriff MMA London wholesale arm

Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.

Adam McNestrie, 05 October 2025

MGAs/MGUs

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MGA Acquinex eyes US expansion, looks to broaden global footprint

Other MGAs in the transactional-liability class are also expanding into the US.

Ayesha Venkataraman, 01 October 2025

MGAs/MGUs

Fidelis’ Pine Walk forms MGA Imala Re in Miami market entry

This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.

Jairo Ibarra, 24 September 2025

PV/Terror

Smoke billows after an Iranian missile struck an oil refinery in Haifa, northern Israel, early Monday, June 16, 2025. (AP Photo/Ariel Schalit)

PVT market faces largest Israeli loss in years from ~$180mn refinery claim

Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.

Samuel Casey, 09 September 2025

Cyber

Cyber analytics firm CyberCube in sale talks with Verisk

It is understood that CyberCube has been considering a sale of the business.

Jairo Ibarra, 05 September 2025

Lloyd’s

Lloyd’s to provide Skyward with third-party capital opportunities: Robinson

Skyward’s acquisition of Apollo will provide access to the London Bridge framework.

Jairo Ibarra, 04 September 2025

M&A

Apollo deal provides third-party capital optionality for Skyward: Robinson

The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.

Jairo Ibarra, 03 September 2025

Specialty lines

Skyward Specialty to acquire Apollo for $555mn

In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process.

Jairo Ibarra, 02 September 2025

Talent

Lockton recruits Price Forbes’ nine-strong LatAm cedent fac team

Sources said the team is led by Martin Soto Quintus and is mostly based in Chile.

Jairo Ibarra, 29 August 2025

M&A

Sompo-Aspen deal transacted at a 'fair price' for both sides

Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.

Jairo Ibarra, 29 August 2025

M&A

TL specialist MGA Euclid Transactional launching strategic process

Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.

Adam McNestrie, 27 August 2025

M&A

Axa in talks to acquire workers’ comp book from Colombia’s Equidad

Equidad earlier sold its soccer team to group of US investors that includes actor Ryan Reynolds.

Jairo Ibarra, 22 August 2025

Brokers

Alliant looks to pull ~$1bn premium wholesale book from Howden

The move is a retaliation to Howden’s US retail launch.

Rachel Dalton, 14 August 2025

Private equity

EQT R&W claim on US telecoms deal being settled at $300mn-$400mn

This publication revealed two years ago that EQT could lodge a $1bn claim.

Jairo Ibarra, 11 August 2025

Results

Correction: IGI to non-renew underperforming parts of PI portfolio

The move will impact around $50mn of gross written premiums in total.

Jairo Ibarra, 07 August 2025

M&A

Talanx confirms sale of HDI’s business in Argentina and Uruguay

This publication reported yesterday that Talanx was closing in on the sale.

Jairo Ibarra, 06 August 2025

Results

IGI Q2 CoR increases 9.3 points to 90.5% as long-tail swings to U/W loss

Prior-year reserve development moved to a $6.3mn charge in Q2 from a $19.3mn release a year ago.

Jairo Ibarra, 05 August 2025

M&A

Talanx nears sale of HDI’s business in Argentina and Uruguay

With roughly 200 employees, the South American operations generated over EUR130mn in 2024 GWP.

Jairo Ibarra, 05 August 2025

M&A

WTW sells MGU Verita to United Risk less than two years after launch

Verita leadership and staff will remain intact and “seamlessly functional”.

Jairo Ibarra, 04 August 2025

Results

Berkshire Q2 reinsurance CoR improves as Guard weighs on primary arm

The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.

Jairo Ibarra, 02 August 2025

Talent

Navigators Re Miami head Vega to retire

The executive joined Navigators in 2010 after eight years at White Mountains Capital.

Jairo Ibarra, 01 August 2025

Results

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Gallagher dismisses need for potential remedies to complete AP acquisition

AJ Gallagher has responded to a request for additional information under the HSR filing.

Jairo Ibarra, 01 August 2025

Reinsurance

Bahr, Costikyan to remain at Markel as 80%+ global re staff to move to Ryan

A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.

Adam McNestrie, 31 July 2025

Talent

Chaucer recruits Helvetia’s Bizet as LatAm head

The Miami-based executive assumes the role left vacant by April McLaughlin.

Jairo Ibarra, 31 July 2025

M&A

Fortegra acquisition remains under DB consideration

DB reiterated that no final decisions have been made regarding a potential deal.

Jairo Ibarra, 31 July 2025

Results

Talent hiring to remain ‘really important’ part of growth strategy: WTW’s Clarke

WTW is “particularly interested” in growing markets like wealth management with bolt-on M&A.

Jairo Ibarra, 31 July 2025

M&A

Markel sells $1.2bn-premium global reinsurance renewal rights to Nationwide

Nationwide will delegate management of the policies to Ryan Specialty.

Jairo Ibarra, 31 July 2025

M&A

Verisk snaps up AccuLynx for $2.35bn

The company provides management workflow for residential contractors.

Jairo Ibarra, 30 July 2025

Catastrophe losses

Mercury General sells Palisades Fire subrogation rights

Mercury’s recovery from the guaranteed percentage of losses is $47mn.

Jairo Ibarra, 29 July 2025

M&A

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Chubb paid $321mn for Liberty Mutual’s Thailand business

The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.

Jairo Ibarra, 29 July 2025

Brokers

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Marine head Southern leaves McGriff but defections held to ~30

Staff targeted include producers that channel business through Howden’s London wholesale arm.

Adam McNestrie, 25 July 2025

Brokers

Brown & Brown to buy UK broker Weatherbys

Weatherbys Hamilton provides private client, bloodstock and farm coverage.

Jairo Ibarra, 23 July 2025

MGAs/MGUs

Marine and energy MGA DUA Nordics weighs potential sale

Sources said MarshBerry is advising the underwriter.

Farhin Lilywala, 22 July 2025

Brokers

Howden eyes mammoth Marsh team lift

The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.

Adam McNestrie, 21 July 2025

MGAs/MGUs

Tamesis Dual secures Volante 1699 paper in specialty deal

Volante joins capacity providers Allianz and Tokio Marine Kiln.

Jairo Ibarra, 09 July 2025

M&A

White Mountains becomes Distinguished majority owner in $230mn deal

The Bermudian investor already owned a 1% interest in the NY-based MGA platform.

Jairo Ibarra, 07 July 2025

M&A

DB completes due diligence in Fortegra process as talks progress

The carriers remain in takeover negotiations but have not reached a decision around valuation.

Jairo Ibarra, 02 July 2025

News

Swiss Re promotes LatAm head Mueller to global P&C structured solutions CUO

Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.

Jairo Ibarra, 01 July 2025

Private equity

PE backer looking to place McLarens into continuation vehicle

Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.

Jairo Ibarra, 23 June 2025

Talent

Holschneider steps back into XS Global CEO role as Cazar departs

Holschneider co-founded the firm and is currently executive chairman.

Jairo Ibarra, 16 June 2025

Commercial lines

Howden in advanced talks to acquire Chilean broker Ureta y Fernández

Howden recently expanded in South America with the takeover of Contacto and Innova Re.

Jairo Ibarra, 11 June 2025

Brokers

Aon focused on 3x3 ‘industrial strength’ execution: CEO Case

Case added that recently acquired broker NFP has “exceeded” expectations.

Jairo Ibarra, 09 June 2025

Talent

Aon Re deputy CEO of global fac Muñoz to exit

Muñoz was also Aon Re chairman for the Latin American region.

Jairo Ibarra, 02 June 2025

M&A

Kestrel completes tie-up with Maiden to form second-ever listed front

Kestrel stock will begin trading on Nasdaq tomorrow under the symbol KG.

Jairo Ibarra, 27 May 2025

Talent

Aon taps Reeve-Tucker to succeed Hussey as head of LatAm fac

The executive will also continue as MD overseeing Caribbean fac.

Jairo Ibarra, 23 May 2025

Brokers

Oneglobal taps Daudt to succeed Spicer as global specialty CEO

Spicer will transition to a global specialty executive chairman role.

Jairo Ibarra, 22 May 2025

M&A

Arch kicks off MGA McNeil spin-off process

Sources said MarshBerry was retained earlier this year to run the sale.

Adam McNestrie, 16 May 2025

Talent

Aon taps human capital CEO Lambrou as head of strategy

The exec will lead key initiatives including Aon United, and work closely with NFP.

Adam McNestrie, 14 May 2025

Talent

AIG recruits Aon Re’s Hussey to lead Miami fac desk

Hussey will take over the role left vacant when Luis Sonville moved to AJ Gallagher late last year.

Jairo Ibarra, 13 May 2025

Specialty lines

Aspen IPO opens door to expansion beyond organic growth: CEO Cloutier

The company’s upsized public offering priced at $30 per ordinary share.

Jairo Ibarra, 08 May 2025

Reinsurance

Hamilton casualty premium grew $40mn in Q1 after AM Best upgrade: CEO

Hamilton also expects rising demand and stable supply for 1 June renewals.

Jairo Ibarra, 08 May 2025

M&A

Coverys Europe puts AEC Underwriting up for sale

The group has hired Hines Associates to advise on the process.

Rachel Dalton, 08 May 2025

Reinsurance

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Greenlight Re Q1 CoR increases 6.7 points to 104.6% as cat losses double

Q1 adverse reserve development went down to $4.2mn from $5.4mn a year ago.

Jairo Ibarra, 07 May 2025

Commercial lines

Hamilton swings to $58.3mn Q1 underwriting loss on higher cat activity

Hamilton reported $150.5mn of net cat losses, partially offset by $9.2mn favourable prior year development.

Jairo Ibarra, 07 May 2025

Specialty lines

IGI aviation book has shrunk ‘significantly’ but remains profitable: CEO

IGI saw opportunities in energy, ports and terminals and marine cargo but remains cautious in long-tail lines.

Jairo Ibarra, 07 May 2025

Re/insurers

Aspen IPO finds robust investor appetite as market waits for pricing

The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.

Adam McNestrie, 07 May 2025

Catastrophe losses

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Mercury General reports net wildfire loss of $414mn with $2.15bn gross hit

The insurer has not decided whether to sell its Eaton subrogation rights.

Jairo Ibarra, 07 May 2025

Commercial lines

IGI Q1 CoR up 20.3 points to 94.4% on higher cats, lower earned premiums

Cat losses included $17.5mn from the CA wildfires and other events.

Jairo Ibarra, 06 May 2025

Specialty lines

SiriusPoint seeing ‘first tangible signs’ of aviation rate hardening: CFO

Space pricing experienced double-digit increases after the 2023 capacity retreat.

Jairo Ibarra, 06 May 2025

Brokers

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Gallagher Re’s 20% Q1 organic growth fueled by new business: Pat Gallagher

AJG still has $2bn of M&A capacity after the AP and Woodruff Sawyer deals.

Jairo Ibarra, 02 May 2025

Specialty lines

Liability pricing momentum ‘sustained at elevated levels’: Axis’ Tizzio

Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.

Jairo Ibarra, 01 May 2025

Re/insurers

Axis Q1 CoR decreases 1 point to 90.2% despite higher cat losses

The Bermudian reported net pre-tax cat losses of $49mn, with $32mn attributable to the California wildfires.

Jairo Ibarra, 30 April 2025

M&A

M&A Deal Update: The German market heats up

Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.

Rachel Dalton, 30 April 2025

Brokers

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Chaucer’s McLaughlin to exit for Howden Re in Miami

The executive will oversee Howden Re’s treaty and fac business in Miami.

Jairo Ibarra, 29 April 2025

M&A

Admiral sells US auto insurance business Elephant to JC Flowers

The sale price represents Elephant’s approximate net asset value.

Jairo Ibarra, 23 April 2025

Brokers

Global rates fell 3% in Q1 despite elevated risk landscape: Marsh’s Doyle

California wildfires had ‘little or no impact’ on property cat pricing at April 1, Dean Klisura said.

Jairo Ibarra, 17 April 2025

M&A

Gallagher to acquire Itaú’s Colombian insurance broking book

The book of business comprises both personal and commercial lines.

Jairo Ibarra, 10 April 2025

M&A

M&A Deal Update: Ardonagh equity raise, PIB losing momentum and more

Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.

Rachel Dalton, 02 April 2025

Specialty lines

Talks in potential ~$10bn Howden-Risk Strategies tie-up becoming strained

Sources said the Evercore-run Risk Strategies process has drawn the interest of Brown & Brown.

Jairo Ibarra, 28 March 2025

MGAs/MGUs

Australia’s Pinnacle Underwriting exploring potential sale

Sources said Insurance Advisory Partners is advising the fac MGA on the strategic process.

Jairo Ibarra, 24 March 2025

Commercial lines

Munich Re’s Ergo to acquire InsurTech Next in $2.6bn deal

Ahead of the deal, Ergo owned a 29% stake in Next, which generated top line of $548mn last year.

Jairo Ibarra, 20 March 2025

Brokers

Price Forbes names Mulic LatAm chief MD

Price Forbes operations in Miami, Chile and Peru will report to Mulic.

Jairo Ibarra, 20 March 2025

Brokers

BMS international head Battman to depart

Based in London, the executive joined BMS nine years ago after a stint as MD at AJ Gallagher.

Jairo Ibarra, 14 March 2025

Re/insurers

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Global carrier M&A hit 16-year low in 2024 amid uncertainty, volatility

A rebound is expected this year, however, led by strong US activity.

Jairo Ibarra, 12 March 2025

Reinsurance

Grounded Airplane, Covid - 19 Corona Pandemic

Greenlight Re retro cover on Russia-Ukraine aviation not exhausted: CEO

Aviation reserve strengthening added 10.1 points to the combined ratio.

Jairo Ibarra, 11 March 2025

Specialty lines

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Argenta supporting Miami MGA SLU for construction program

The MGA is offering lines of $25mn, up from the $10mn limit it was providing until late last year.

Jairo Ibarra, 11 March 2025

Brokers

Gallagher receives FTC request for additional information in AP acquisition

The company said it now expects the transaction to close in H2 2025.

Jairo Ibarra, 07 March 2025

Specialty lines

Volante loses $17mn US TL capacity from MS Transverse

The MGA will be trying to replace the transactional liability capacity in the coming weeks.

Ayesha Venkataraman, 05 March 2025

Bermuda

Aspen pegs CA hit at $50mn-$75mn as Q4 CoR drops 6.9 points to 82.5%

Changes in business mix towards specialty and improved reserve development offset higher Q4 cat losses.

Jairo Ibarra, 27 February 2025

Brokers

BMS Re Miami-based LatAm president Gomez to depart

The executive joined BMS in 2022 after three years as deputy CEO at Carpenter Marsh Fac.

Jairo Ibarra, 27 February 2025

Bermuda

IGI Q4 CoR drops 4 points 77.8% on favourable development, lower cats

The carrier reported $2.8mn of favourable development compared to a $3.3mn charge a year ago.

Jairo Ibarra, 25 February 2025

Brokers

Ryan Specialty paid $426.8mn for London MGA platform Innovisk

This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase.

Jairo Ibarra, 21 February 2025

Specialty lines

Activist investor Jana unveils roughly 1.4% position in Markel

Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.

Jairo Ibarra, 19 February 2025

Catastrophe losses

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Liberty Mutual expects $1.4bn+ in CA wildfire losses: sources

Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.

Jairo Ibarra, 18 February 2025

Reinsurance

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Miami Reinsurance Week: The soft market after the storm

Rate falls across the property class and uncertainty around the US administration dominated conversations.

Jairo Ibarra, 13 February 2025

Specialty lines

Markel’s international fine arts book to take largest CA wildfire hit: CFO

The company did not take questions on its recently announced business review.

Jairo Ibarra, 06 February 2025

Specialty lines

Markel estimates $90mn-$130mn Q1 CA wildfire loss, swings to UW gain

The specialty insurer reported favorable developments in both its insurance and reinsurance segments.

Jairo Ibarra, 06 February 2025

Brokers

Howden-Risk Strategies: A calculated gamble for the broker’s wholesale unit

WTW’s ownership of Miller may offer a cautionary tale for the US retail-London wholesale group structure.

Adam McNestrie, 03 February 2025

MGAs/MGUs

Arcadian considers strategic options for next phase of growth

The MGA and 49% owner SiriusPoint could bring in a new investor.

Rachel Dalton, 31 January 2025

Brokers

Howden in talks to acquire $8bn+ Risk Strategies for US retail entry

Earlier this month this publication revealed Howden’s $2bn+ fundraising talks with Mubadala to fund a US deal.

Adam McNestrie, 31 January 2025

Property treaty

Cat capacity remained sufficient at 1.1: Gallagher

The broker added reinsurers remain cautious on US casualty risk.

Jairo Ibarra, 31 January 2025

Bermuda

Axis ‘extremely vigilant’ on US primary casualty after 29% rate hike: CEO Tizzio

Claims related to California wildfires are "fairly insubstantial" to date, executives said.

Jairo Ibarra, 30 January 2025

Bermuda

Axis swings to $130mn Q4 U/W profit despite higher cat activity

The carrier’s Q4 CoR decreased 34.8 pts YoY to 94.2% as it reported favorable prior-year reserve development.

Jairo Ibarra, 29 January 2025

M&A

M&A Deal Update: Howden investment talks flag up the search for sovereigns

Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.

Rachel Dalton, 28 January 2025

Bermuda

Everest reports $1.7bn casualty-driven adverse development ahead of Q4 earnings

The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.

Jairo Ibarra, 27 January 2025

Commercial lines

Travelers ‘enhanced’ casualty reinsurance programme on 1.1: CFO Frey

The insurer also added $150mn cat coverage while reducing the total ceded premium for this treaty.

Jairo Ibarra, 22 January 2025

Brokers

Acrisure working on prefs raise as it lays groundwork for IPO

The business is targeting an enterprise value in excess of $30bn, sources said.

Adam McNestrie, 21 January 2025

Specialty lines

Miami MGA BUA secures Navigators support for property fac program

Sources said that the new paper is replacing PartnerRe capacity that was backing the MGA.

Jairo Ibarra, 15 January 2025

Commercial lines

Everest taps Delgado to succeed Korze as LatAm head

Carlos Becerra will succeed Delgado as Miami-based LatAm fac head.

Jairo Ibarra, 14 January 2025

Brokers

Howden in talks to raise equity from Mubadala to fuel US growth ambitions

The $2bn+ raise would likely rest on the base case of an IPO in the medium term.

Adam McNestrie, 03 January 2025

MGAs/MGUs

Redline Underwriting takes flight with aviation programme for LatAm market

The programme was developed in collaboration with Allianz Commercial.

Jairo Ibarra, 26 December 2024

Bermuda

Aspen files F-1 with SEC confirming 2025 IPO optionality

In October, this publication revealed that the carrier had resumed IPO preparations.

Jairo Ibarra, 11 December 2024

Brokers

BMS to acquire Spain-based specialty brokerage Rasher

Rasher also has offices in Seville, Cordoba, Valencia, Malaga, Granada and Pamplona, as well as Latin America.

Jairo Ibarra, 11 December 2024

Brokers

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WTW’s Bain JV will balance ‘strategic flexibility and capital efficiency’: CEO Hess

WTW will hold a significant minority stake in the start-up with an option to acquire complete ownership over time.

Jairo Ibarra, 03 December 2024

M&A

M&A Deal Update: Carrier deals becoming more attractive as organic growth wanes

Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.

Rachel Dalton, 26 November 2024

Brokers

Marsh McLennan taps Rivera as CMF LatAm and Caribbean CEO

Rivera will succeed current CEO Carlos Rivera, effective 1 January.

Jairo Ibarra, 25 November 2024

Specialty lines

Bishop Street ventures into London market with Landmark Underwriting takeover

The deal follows Bishop Street’s acquisition of Ethos’ TL operations from Ascot.

Jairo Ibarra, 25 November 2024

Brokers

AJ Gallagher confirms acquisition of THB Chile from Amwins

Earlier this month this publication revealed that the brokerages were in advanced talks to secure a deal.

Jairo Ibarra, 21 November 2024

Commercial lines

Sedgwick closes $1bn Altas investment at $13.2bn valuation

Carlyle re-launched efforts to find minority investor last June.

Jairo Ibarra, 12 November 2024

Bermuda

James River reserves now ‘walled off’ from past business: CEO

The carrier’s shares declined over 17% this morning following Q3 earnings and strategic actions.

Jairo Ibarra, 12 November 2024

Bermuda

James River enters $75mn legacy deal, closes strategic review

James River also amended the convertible preferred equity held by Gallatin Point and closed its strategic review.

Jairo Ibarra, 11 November 2024

Bermuda

Cyber is ‘perfect example’ of heated London competition: Hamilton’s Albo

D&O and D&F are also facing increased competition, but property remains price adequate.

Jairo Ibarra, 07 November 2024

Bermuda

Hamilton Q3 CoR rises 1 point to 93.6% as cat losses soar to $38.3mn

Hamilton reported a $30mn-$70mn net estimate for Hurricane Milton losses.

Jairo Ibarra, 06 November 2024

Re/insurers

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Berkshire reinsurance Q3 underwriting result plummets on Nico settlement

The conglomerate expects pre-tax losses from Hurricane Milton of between $1.3bn-$1.5bn in Q4.

Jairo Ibarra, 02 November 2024

Commercial lines

Chubb forecasts Q4 after-tax net Milton losses of $208mn-$250mn

The commercial carrier also reported a Hurricane Milton pre-tax net loss forecast of $250mn-$300mn.

Jairo Ibarra, 02 November 2024

Brokers

AJ Gallagher nears deal to acquire THB Chile from Amwins

Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.

Jairo Ibarra, 01 November 2024

Bermuda

Helene accounted for around 45% of Arch’s Q3 cat losses: CFO Morin

Arch is assuming an industry loss related to Helene in the $12bn-$14bn range.

Jairo Ibarra, 31 October 2024

Brokers

Ryan Specialty paid $45mn for EverSports, $44mn for Ethos P&C

The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.

Jairo Ibarra, 31 October 2024

Bermuda

Cat losses of $450mn send Arch’s Q3 CoR up 8.7 pts to 86.6%

The reinsurance CoR rose 12.3 pts to 92.3% following $364mn of cat losses in the quarter.

Jairo Ibarra, 30 October 2024

Brokers

Marsh McLennan taps Rivera to succeed Brockmann as LatAm CEO

The promotion is effective as of January 1.

Jairo Ibarra, 30 October 2024

Commercial lines

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Prosperity won’t endure in competitive London wholesale: Chubb’s Greenberg

The CEO noted, however, that the UK retail market remains a big business growing well.

Jairo Ibarra, 30 October 2024

London market

Gallagher M&A pipeline up to ~$700mn acquired revenue: Pat Gallagher

More broadly, the firm is looking at over 100 potential mergers in its pipeline, with ~$1.5bn acquired revenue.

Jairo Ibarra, 24 October 2024

Bermuda

Aspen revs up IPO preparations again to give Q1 optionality

The business put up strong H1 numbers, and has named Christian Dunleavy group president.

Jairo Ibarra, 22 October 2024

Re/insurers

Barents Re-backed insurer Nacional rejects European approach

Sources said that Nacional would only consider a bid north of $150mn.

Jairo Ibarra, 17 October 2024

London market

Reciprocal, minority investment, majority investment, valuation, investments, private equity, capital raise, strategic option

TIH’s Starwind confirms $270mn raise for Fractal Re sidecar

The raise includes minority investments from Nationwide, Enstar and others.

Jairo Ibarra, 03 October 2024

Re/insurers

JPI class faces potential loss after BMO appeal in Minnesota case

Sources expect at least $80mn-$90mn of insured losses stemming from the case.

Jairo Ibarra, 03 October 2024

Brokers

WTW recruits Aon’s Crain to succeed Baudouin as Mexico CEO

Baudouin is transitioning to a chairman position in Mexico.

Jairo Ibarra, 26 September 2024

Brokers

Aon Re hires GNP’s Padilla to lead LatAm consulting, science re solutions

Padilla has also held senior regional roles at Cooper Gay and Swiss Re.

Jairo Ibarra, 26 September 2024

Brokers

Guy Carpenter’s Miami SVP Hernandez departs for BMS Re

The executive also worked at JLT Re as head of LatAm and Caribbean analytics.

Jairo Ibarra, 26 September 2024

Bermuda

PartnerRe hires Price Forbes exec Iturrioz to oversee LatAm agriculture

The executive has also served as agriculture reinsurance VP at Navigators.

Jairo Ibarra, 23 September 2024

Bermuda

Everest confirms Ocampo as Colombia head, opens Bogota office

This publication revealed last year that Ocampo will lead the Colombia unit.

Jairo Ibarra, 16 September 2024

Jain offloads over half of Berkshire holdings for $139mn

The move comes just days after the Warren Buffett-controlled conglomerate reached the $1tn market cap mark for the first time.

Jairo Ibarra, 12 September 2024

Scor denies takeover talks with Covéa

The denial followed this publication’s report that Covéa had renewed its intentions to buy the reinsurer.

Jairo Ibarra, 10 September 2024

London group MNK working on Florida reinsurance start-up

The underwriting venture, Florida Re, will target both US and LatAm markets.

Jairo Ibarra, 10 September 2024

TIH working on $7bn+ McGriff divestiture to strategics

Sources said that the business will be marketed off adjusted Ebitda of ~$500mn, including a title broking asset.

Catrin Shi, 03 September 2024

Aon Re hires Liberty Mutual’s Protasio as Brazil CEO

Sources said LSM head of third party in Miami Humberto Pozo will serve as interim head of distribution.

Jairo Ibarra, 26 August 2024

Lloyd’s taps Schmidt to lead Mexico office, succeeding Hernandez

Lloyd’s is also opening a Miami office, starting September 1.

Jairo Ibarra, 20 August 2024

Brickell Key, Cityscape by air in Miami.

Miami MGA Redline secures Lloyd’s capacity for property fac program

The consortium backing the MGA is led by Axa XL Syndicate 2003.

Jairo Ibarra, 19 August 2024

Ryan Specialty and Ascot descope Ethos deal to exclude TL unit

Ascot will evaluate other options for its ~$140mn-premium transactional liability unit.

Jairo Ibarra, 16 August 2024

UIB recruits treaty specialist Cardona for Miami office

Cardona will report to both UIB Latin America CEO Carlos Gutierrez and Miami CEO Francisco Torres.

Jairo Ibarra, 15 August 2024

Gallagher Re hires Guy Carpenter distribution chief Mowery

Sources said Guy Carpenter has promoted Jennifer Paretchan to succeed Mowery.

Adam McNestrie, 14 August 2024

BMS’s MGA Lions Gate hires CargoCorp’s Gomez to lead LatAm business

The executive will report to London-based BMS director Alex Shephard.

Jairo Ibarra, 12 August 2024

Brown & Brown to pay over $700mn for Dutch broker Quintes

Quintes' revenues for 2025 are projected in the $110mn-$120mn range.

Jairo Ibarra, 07 August 2024

Regulatory, legal, lawsuit, arbitration, compliance, regulation, litigation

James River will file motion to dismiss Fleming suit over JRG Re sale

James River will also oppose a Fleming motion to uncover additional documents.

Jairo Ibarra, 06 August 2024

Berkshire Q2 reinsurance CoR rises 2.9 points to 81.8% despite no cat activity

Geico more than tripled U/W profits due to higher average premiums per auto policy and lower claims frequency.

Jairo Ibarra, 03 August 2024

WTW has ‘a bit more’ hiring to go after replenished talent base: CEO Hess

CRB NA growth was driven by specialty lines, including natural resources, construction and real estate.

Jairo Ibarra, 25 July 2024

Aon taps Moore to succeed Rego as Bermuda CEO

Moore will oversee Aon Bermuda’s commercial risk solutions broking operations, leading a team of 85 executives.

Jairo Ibarra, 23 July 2024

CrowdStrike ‘most important cyber accumulation event’ since NotPetya: Aon

The airlines, healthcare and financial services industries were some of the sectors affected by the outage.

Jairo Ibarra, 22 July 2024

Former Validus Re CEO Ward takes interim CEO role at MGA Solis Re

Romel Salam, former Validus Re CRO, will also join Solis as an advisor.

Jairo Ibarra, 18 July 2024

Mexican brokerage Merit Re mulling strategic options including sale

It is understood that the brokerage is working with external consultants and is open to a sale, JV or other options.

Jairo Ibarra, 15 July 2024

Poorly performing accounts will see flat to 20% cat rate hikes: Brown & Brown

Accounts with poor performance records are expected to see flat to 20% rate increases for cat coverage, according to Floridian broker Brown & Brown’s Q3 Market Trends report.

Jairo Ibarra, 15 July 2024

Gallagher Re Fac hires Mapfre’s Marengo as SVP for Peru, Paraguay, Bolivia

Based in Peru, the executive will oversee marine and aviation lines.

Jairo Ibarra, 12 July 2024

XS Global opens Dubai office to expand into EMEA, Asia markets

The operation will be led by Stephen Saunders, with Jawad Ghunaim from AIG as CUO.

Jairo Ibarra, 10 July 2024

Miami market veteran and Solis Re founder Downey dies

Formerly LatAm CEO for Validus Re, Downey founded Solis in 2016.

Jairo Ibarra, 03 July 2024

Australia’s IAG enters ADC deal with Enstar for long-tail liabilities

Enstar will provide $430mn of excess cover over ~$1.7bn of underlying reserves.

Jairo Ibarra, 28 June 2024

Judge rejects Beazley suit against former Miami surety executive, citing jurisdiction

Beazley has two days to amend its complaint, correcting jurisdictional deficiencies.

Jairo Ibarra, 25 June 2024

AJ Gallagher in advanced talks with Amwins on THB Chile takeover

A deal would mark Amwins’ second LatAm sale, after Lockton acquired THB Brazil last May.

Jairo Ibarra, 24 June 2024

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Ex-Vantage cyber head Lea connected to emerging MGA Elixir

The multiline MGA was co-founded by Lea's fellow Vantage alum Farhan Shah.

Abbie Day, 20 June 2024

Lockton hires CMF's Uribe as head of reinsurance in Colombia

Lockton also hired Luisa Senior from WRB as property VP reporting to Uribe.

Jairo Ibarra, 17 June 2024

Carlyle brings Sedgwick back to market a year after pulled process

The buy-side mandate has been awarded to Morgan Stanley and Bank of America.

Adam McNestrie, 06 June 2024

Chubb snaps up Australian MGA Catalyst Aviation Insurance

This is Chubb’s second MGA deal in the past few months.

Jairo Ibarra, 05 June 2024

Tamesis Dual misses third key cat renewal as capacity search continues

The Howden-owned MGA lost ~$250mn in cat capacity in September.

Jairo Ibarra, 31 May 2024

Oneglobal in advanced talks to acquire Consilium’s LatAm book

The broking team led by Christian Warrener is expected to join Oneglobal as part of the deal.

Jairo Ibarra, 29 May 2024

NA R&W claims severity rising as retentions decline: Aon

The most common breach type was law compliance, followed by financial statements.

Jairo Ibarra, 24 May 2024

SiriusPoint hires Kemper’s McKinney as CFO, replacing Yendall

Steve Yendall is stepping down after 18 months as SiriusPoint CFO.

Jairo Ibarra, 23 May 2024

Liberty pauses writing active litigation as $1.6bn BMC suit adds to loss bill

The BMC-IBM judgment was insured for about $700mn on a heavily co-insured tower of around $1bn.

Jairo Ibarra, 21 May 2024

BMS Re LatAm deputy CEO Ceron to depart

The Miami-based executive will leave in July after over four years with the (re)insurance broker.

Jairo Ibarra, 20 May 2024

Ocean Re recruits Gallagher Re’s Bramley as global head of treaty

Based in London, the executive will report to Ocean Re CUO Jamie Wakeling.

Jairo Ibarra, 17 May 2024

In ‘verticalised’ D&F ‘we don’t all get the same price’: Burrows

Along with D&F, Fidelis is looking to grow in marine construction and aviation.

Jairo Ibarra, 10 May 2024

PE firm Lovell Minnick pulls Charles Taylor minority stake sale

This is not the first pulled strategic process in the adjusting, and broader claims services, sector in recent months.

Jairo Ibarra, 08 May 2024

Berkshire Q1 P&C reinsurance CoR improves 11 points

The insurance arm’s CoR declined 4 points to 89.3% on lower cat losses.

Jairo Ibarra, 04 May 2024

Ryan Specialty books $250mn cash consideration in Castel acquisition

The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.

Jairo Ibarra, 03 May 2024

AIG still has ‘lowest attachment point’ after reinsurance change: CEO Zaffino

In certain classes like energy or cat, AIG switched “a bit” to XoL from quota share.

Jairo Ibarra, 02 May 2024

Economic value of SiriusPoint's MGAs higher than carrying value: CEO

This publication revealed that the firm is working with Jefferies on the sale of its A&H MGA Armada.

Jairo Ibarra, 01 May 2024

SiriusPoint enters $400mn workers' comp LPT with Enstar

The legacy deal comes one year after a $1.3bn LPT with Compre covering several lines.

Jairo Ibarra, 30 April 2024

UIB taps ex-Lockton Re Colombia head Roos Krause as CBO

The executive will report to UIB LatAm CEO Carlos Gutierrez.

Jairo Ibarra, 24 April 2024

Chubb exposure to Baltimore bridge loss not ‘outsized’: Greenberg

There is a high likelihood the property claim will be subrogated.

Jairo Ibarra, 24 April 2024

James River sells casualty re book to Fleming for $277mn

The parties completed the acquisition of JRG Re “at the previously agreed upon terms.”

Jairo Ibarra, 17 April 2024

WTW snares Marsh Americas energy head Mackenzie to lead natural resources

Graham Knight will become chairman of natural resources.

Samuel Casey, 12 April 2024

Specialty MGA XS Global to acquire Miami underwriter Blue Signing Re

Blue Signing Re CEO Velasquez will be XS Global's head of casualty motor, L&H and benefits.

Jairo Ibarra, 10 April 2024

Arch to acquire AGCS MidCorp, entertainment book in $1.8bn deal

The deal includes an LPT of ~$2bn loss reserves for 2016-2023 years with Arch Re.

Jairo Ibarra, 05 April 2024

New Altamont-backed hybrid front Hadron taps Talbot’s Reeder as CEO

The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.

Adam McNestrie, 04 April 2024

Generali completes Conning acquisition

A deal was announced last July, with Cathay agreeing to take a 16.75% GIH stake.

Jairo Ibarra, 04 April 2024

M&A insurance competition escalates as AmTrust’s MGA ANV enters US market

Colin Addy and Greg Conroy, former Vale and Chubb executives, co-head the new operation.

Jairo Ibarra, 03 April 2024

SiriusPoint in talks to sell ~$200mn GWP A&H MGA Armada

Sources said the Bermuda carrier has been working with Jefferies on the sale.

Farhin Lilywala, 02 April 2024

Estimated 17%-35% of US healthcare system exposed to Change Healthcare cyberattack

CyberCube expects ransomware attack to impact both large and SME accounts.

Jairo Ibarra, 27 March 2024

MGA Devonshire launch confirmed as founders secure BP Marsh deal

BP Marsh took a 30% cumulative preferred ordinary shareholding in Devonshire.

Jairo Ibarra, 27 March 2024

Primary R&W rates to remain depressed on robust competition: Marsh

Retentions and coverage could be affected by future adverse claims trends.

Jairo Ibarra, 20 March 2024

Marsh McLennan vying with AJG and Ardonagh on A$2bn+ PSC deal

The talks are advanced, and the process is likely to move rapidly.

Adam McNestrie, 20 March 2024

Chubb-IAP mutual start-up CybEx placed on hold

The project is not immediately moving forward due to lack of client demand.

Adam McNestrie, 19 March 2024

Chubb hires ex-Fusion UK MP Cowen to lead international TL platform

This publication revealed Chubb was planning to re-enter the London TL market.

Jairo Ibarra, 18 March 2024

Howden Tiger enlists Guy Carpenter’s Byler as US head of general casualty

Based in New York, the executive will report to global head of casualty Josh Everdell.

Jairo Ibarra, 14 March 2024

AM Best 'closely’ monitoring James River-Fleming dispute

The agency will track the potential impact of the lawsuit on James River’s ratings.

Jairo Ibarra, 13 March 2024

IGI 2024 growth opportunities continue in reinsurance and short-tail lines: CEO

Property, PV and energy lines are driving the carrier’s growth, offsetting long-tail declines

Jairo Ibarra, 13 March 2024

IGI Q4 CoR falls to 81.8% as short-tail, reinsurance gains offset long-tail decline

The Bermudian booked lower cat losses and lower adverse development in Q4.

Jairo Ibarra, 12 March 2024

Fleming says James River’s ‘frivolous’ lawsuit ‘misrepresents the facts’

James River sued Fleming yesterday to enforce the $277mn sale of its casualty re unit.

Jairo Ibarra, 12 March 2024

James River shares fall over 17% following suit over casualty re unit sale

James River is suing Flemming Intermediate while a potential sale of the company is ongoing.

Jairo Ibarra, 11 March 2024

Legal office of lawyers, justice and law concept : Wooden judge gavel or a wood hammer and a soundboard used by a judge person on a desk in a courtroom with a blurred brass scale of justice behind.

James River sues Fleming to enforce $277mn casualty re unit sale

Fleming has claimed breach of contract and is seeking roughly $78mn in “economic concessions”.

Jairo Ibarra, 11 March 2024

TL MGA Euclid boosts tax practice with NA and EMEA appointments

The firm hired Kami LaBerge and Egbert van der Graaff.

Jairo Ibarra, 11 March 2024

Hamilton adds Vaughan and Patterson to board

Patterson will also serve as chair of the audit committee.

Jairo Ibarra, 06 March 2024

Fidelis Q4 CoR climbs 15.2 points to 81.4% on large specialty losses

Losses were driven by the Viasat-3 satellite failure, the Sudan conflict and D&F events.

Jairo Ibarra, 29 February 2024

Ryan Specialty paid $98.3mn to acquire MGU AccuRisk from Ardonagh

Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.

Jairo Ibarra, 28 February 2024

Specialty MGA UK lands ex-OdysseyRe’s Contasta as treaty head in Miami

The executive left OdysseyRe last August, as this publication revealed at the time.

Jairo Ibarra, 27 February 2024

First-round bids land for Charles Taylor in Rothschild-run process

The insurance services firm is owned by Lovell Minnick.

Adam McNestrie, 26 February 2024

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P&C core to Berkshire’s ‘well-being and growth’ as float rises to $169bn: Buffett

He praised 2023 insurance results as other sectors were a “disappointment”.

Jairo Ibarra, 24 February 2024

Berkshire reinsurance unit's underwriting profits hit $3.5bn in 2023

Excluding TransRe, the group’s losses declined by $509mn last year.

Jairo Ibarra, 24 February 2024

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Travelers unveils size of Fidelis stake at ~7.2%

SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.

Jairo Ibarra, 20 February 2024

Truist will be a ‘more agile’ firm under PE ownership: CEO Howard

The firm will have more flexibility around talent compensation and M&A activity.

Adam McNestrie, 20 February 2024

Truist Insurance sale ‘not a market timing issue’: Truist CEO Rogers

TIH CEO John Howard said the deal positions TIH for continued growth.

Jairo Ibarra, 20 February 2024

Enstar builds 1.7% position in up-for-sale James River

Enstar acquired 637,640 shares of James River in Q4 last year valued at nearly $6mn.

Jairo Ibarra, 16 February 2024

Mapfre Re shuts down in Chile, transfers operation to Colombia

The move followed efficiency considerations and the current state of the Chilean market.

Jairo Ibarra, 16 February 2024

Miami a vital hub for Lloyd’s syndicates, coverholders: Tiernan

LatAm represents $1.3bn in premiums, the Caribbean $1bn and Bermuda $700mn.

Jairo Ibarra, 14 February 2024

Howden boosts equity stake in Mexican operations Ordas and Adrisa

Howden acquired a majority interest in Mexico’s Adrisa in 2020 and Grupo Ordas in 2017.

Jairo Ibarra, 13 February 2024

Ardonagh Specialty undertakes insurance segment restructure

Price Forbes will become the dominant brand, while international CEO Ferguson will exit the business.

Rachel Dalton, 12 February 2024

AJ Gallagher paid $301.6mn for Australia’s My Plan Manager

According to its 2023 10-K, Gallagher spent $3.74bn on M&A activity.

Jairo Ibarra, 12 February 2024

DoJ closes AJ Gallagher Ecuador FCPA inquiry without charges

The probe concluded in Q4 last year, according to Gallagher’s 10-K.

Jairo Ibarra, 09 February 2024

Ex-Ambridge M&A insurance team working on MGA start-up Devonshire

Sources said the initiative includes former Ambridge executive MD Jeff Doran.

Ayesha Venkataraman, 07 February 2024

Markel to exit unprofitable casualty subsegments in 2024 remediation: Noble

The carrier did not consider pursuing an LPT deal to address the GL and PL issues.

Jairo Ibarra, 01 February 2024

AM Best revises Ocean Re outlook to positive on profitable results

The ratings agency also affirmed the reinsurer’s A- FSR rating.

Jairo Ibarra, 26 January 2024

Oneglobal to launch in Peru following license deal with Baprosa Re

A year ago, the JC Flowers-backed broking firm received the license to operate as intermediary in Bolivia, and it is expected to launch in Colombia later this year.

Jairo Ibarra, 24 January 2024

AJ Gallagher in talks to acquire Amwins’ THB Chile

A deal would mark Amwins’ second LatAm sale, after this publication revealed that Lockton acquired THB Brazil last May.

Jairo Ibarra, 22 January 2024

LSM promotes Bolaños to CUO, Moreno to US and LatAm president

In his new role Bolaños will report to both Matthew Moore, Liberty Global Risk Solutions (GRS) president of underwriting, and to Phil Hobbs, LSM president and MD.

Jairo Ibarra, 17 January 2024

Ocean Re taps Gonzalez as chief actuary, CMF’s Oliveira as chief commercial officer

Both executives will report to CEO Guillermo Eslava.

Jairo Ibarra, 16 January 2024

Enstar acquires remaining 41% StarStone Specialty stake for $182.3mn

The deal’s consideration consisted of a cash payment of $119mn and the 13.5% equity interest that Enstar held in Northshore, the parent of Lloyd’s underwriter Atrium.

Jairo Ibarra, 22 December 2023

Ryan Specialty seals deal to buy MGU Castel from Arch

The deal follows this publication’s report that the Bank of America-run sale process of Castel was drawing robust interest.

Jairo Ibarra, 21 December 2023

Aon Re boosts Miami treaty, advisory with Swiss Re’s Futterknecht, Southbridge’s Carrillo

Separately, sources said Swiss Re Miami-based head of auto overseeing the motor portfolio for the LatAm region Carlos Ricci has also left the reinsurer.

Jairo Ibarra, 21 December 2023

Tysers owner AUB buys into Miami reinsurance broker Mexbrit

It is understood that AUB’s investment in Mexbrit includes the broker’s marine-focused MGA subsidiary Forte Underwriters.

Jairo Ibarra, 14 December 2023

Aspen confirms 2024 IPO plans

The announcement comes almost two months after this publication revealed that the carrier had lined up Goldman Sachs, Citibank and Jefferies to run its $4bn H1 IPO in New York.

Jairo Ibarra, 08 December 2023

Business associates shaking hands after a deal in meeting. Business people hand shake and greeting each other after an agreement.

AIG head of LatAm P&C Nagamine departs for Mitsui

Sources said the executive will join Mitsui Sumitomo in a leadership position based in Brazil.

Jairo Ibarra, 07 December 2023

Hamilton Q3 CoR reflects lower cat losses, business mix: CEO Albo

Hamilton is seeing additional opportunities on the casualty reinsurance front as other players pull back, given the loss activity stemming from 2019 and prior years.

Jairo Ibarra, 06 December 2023

Severity is the ‘major driver’ in R&W losses: Euclid Transactional

Over the last seven years Euclid has insured $3.2tn of deal value and has booked nearly $770bn of total incurred loss through 97 paid claims.

Jairo Ibarra, 30 November 2023

Aviva to buy Canadian MGA Optiom for £100mn

Backed by Aviva’s underwriting capacity, Optiom provides vehicle replacement insurance in Canada.

Jairo Ibarra, 27 November 2023

HW Wood unable to pay $22.5mn DoJ fine in Ecuadorean bribery case

The DoJ also hit rival reinsurance broker Tysers with a $36mn penalty and administrative forfeiture of around $10.5mn.

Jairo Ibarra, 22 November 2023

Aon Re promotes Toro to Andean CEO in LatAm reshuffle

As part of the changes, former Andean CEO Alejandro Gregory will take over as LatAm chief commercial officer.

Jairo Ibarra, 20 November 2023

Miami energy specialist Ventosa leaves Lockton for WTW

The executive joined family-owned Lockton in 2020, as director of energy within the South Florida-based Latin America and Caribbean team.

Jairo Ibarra, 15 November 2023

IGI has exposure to Israel-Hamas war, no ‘material losses’ expected: CEO Jabsheh

The firm has experienced cumulative property rate increases of over 15%m while its treaty business is seeing rate rises of over 26%.

Jairo Ibarra, 15 November 2023

Starboard exits WTW two years after building a stake

SEC filings show that, in Q3, the activist shareholder liquidated its remaining 508,880 shares in WTW — worth around $120mn at the end of Q2.

Jairo Ibarra, 15 November 2023

Hamilton books $80.6mn IPO net proceeds to capitalise on hard P&C cycle

As this publication previously reported, the IPO pricing came in under book value but has still narrowed the gap on predecessor Fidelis, listing at 0.9x book value vs Fidelis’ 0.8x.

Jairo Ibarra, 14 November 2023

IGI’s Q3 CoR declines 0.8 points to 73.2% on lower cat losses

The company’s underwriting result in Q3 was also driven by higher premiums earned, which increased to nearly $109mn from over $96mn in Q3 last year.

Jairo Ibarra, 14 November 2023

Hotel and gov claims expected to dominate Otis property losses

Aon-owned Mexican cat modeler ERN estimated Otis insured wind losses, excluding auto and infrastructure, at $1.2bn-$1.8bn.

Jairo Ibarra, 14 November 2023

Acapulco, Mexico. 25th Oct, 2023. Damage is seen on the beach of the well-known and traditional Mexican beach resort after Hurricane "Otis" hit the region. "Otis" made landfall early Wednesday as an extremely dangerous Category 5 hurricane with sustained

Moody’s RMS pegs Otis insured losses at $2.5bn-$4.5bn

The forecast reflects property damage and BI losses to residential, commercial, industrial and automobile lines.

Jairo Ibarra, 13 November 2023

James River retains Citi and Ardea to explore potential sale

Two days ago, the company announced the sale of its casualty reinsurance subsidiary to Fleming for $277mn.

Jairo Ibarra, 10 November 2023

BMS Re hires ex-Tysers VP Camacho as director in Miami

Camacho joins BMS after over three and a half years at Tysers, where he served as vice president based in South Florida.

Jairo Ibarra, 09 November 2023

Greenlight Re to set up 2024 vehicle for InsurTechs to retain more risk: CEO Burton

This is Burton’s last earnings call as the reinsurer’s CEO, as the firm recently appointed TransRe’s Greg Richardson to succeed him effective January 1.

Jairo Ibarra, 09 November 2023

James River sells casualty re business to Fleming for $277mn

The deal values the Bermuda casualty re subsidiary at 0.75x book with James River to receive $138mn in cash and a $139mn pre-closing dividend.

Jairo Ibarra, 08 November 2023

Sura’s ~$320mn GWP Mexican business draws Zurich interest

The news comes around five months after this publication revealed that Latin America’s third-largest carrier had placed certain foreign subsidiaries up for sale.

Jairo Ibarra, 07 November 2023

Howden enters Peruvian market with $35mn Contacto acquisition

The deal comes over a year after this publication revealed that the companies were in takeover conversations.

Jairo Ibarra, 03 November 2023

CNA Hardy exits political violence market

Sources said the insurer will not be taking on any new business or renewals as the PV class continues to be threatened by potential losses.

Jairo Ibarra, 03 November 2023

RenaissanceRe closes $3bn takeover of Validus Re

The deal was announced in late May, with RenRe taking over AIG’s treaty business, including AlphaCat Managers, and all renewal rights to Talbot’s reinsurance treaty unit.

Jairo Ibarra, 01 November 2023

TL sector faces potential $400mn loss from Amazon-South Carolina tax dispute

Sources said that CAC Specialty brokered the policy, which is placed across the US and London markets.

Catrin Shi, 01 November 2023

Gallagher Re organic growth accelerates to 20% in Q3, fueled by 1.7 renewals

The unit almost doubled its organic growth rate from 11% in Q2, while in Q1 the division posted 12% organic growth.

Jairo Ibarra, 27 October 2023

Reinsurance in the ‘universe of capital allocations’ for WTW: CEO Hess

The broker’s Q3 organic growth was driven by specialty lines, including fac financial solutions, natural resources, surety, construction and aviation.

Jairo Ibarra, 26 October 2023

Carlyle pulls plans to sell Sedgwick minority stake

Sources said the PE heavyweight shelved the stake sale plans earlier this year as multiples in the adjusting segment remain under pressure.

Jairo Ibarra, 24 October 2023

Vesttoo says creditors’ move for early termination ‘disrupts its ability’ to restructure

Earlier today, in a bid to accelerate liquidation, the company’s unsecured creditors requested early termination of the exclusivity period granted Vesttoo to develop a reorganization plan.

Jairo Ibarra, 23 October 2023

Marsh McLennan books $70mn settlement from European talent dispute

Last week, this publication revealed that Howden agreed to pay Guy Carpenter in excess of £50mn ($61mn) to settle the poaching suit related to Massimo Reina and a defecting European team.

Jairo Ibarra, 19 October 2023

De Lima Le Franc, LatAm veteran and DeLima Marsh founder, dies at 91

In June of 1999, Marsh McLennan acquired a 51% stake in the brokerage and merged its various operations with existing units including Guy Carpenter and Mercer.

Jairo Ibarra, 19 October 2023

Clear Blue process evolves into stake sale amid increased fronting M&A interest

Sources said the fronting carrier is expecting to seal a deal in early 2024 as its strategic process pivots from a full sale.

Farhin Lilywala, 18 October 2023

Creditors in Vesttoo bankruptcy case seek discovery on Aon

The motion seeks discovery of information and documents about the structure and operation of White Rock’s cells.

Jairo Ibarra, 12 October 2023

Lockton boosts Miami office with WTW’s Padin and BMS’s Martinez

It is understood that Padin will take on a treaty role overseeing client relationships across LatAm and the Caribbean while Martinez will lead fac re for Central America.

Jairo Ibarra, 11 October 2023

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R&W market faces potential $1bn claim from EQT telecoms deal

If the claim does indeed pay out, it has been suggested it will be the largest in R&W market history.

Catrin Shi, 11 October 2023

Berkshire Hathaway pulls capacity from Texas MGA Kemah Capital

Sources said the Houston, Texas-headquartered program manager is now writing business on Sutton National paper.

Jairo Ibarra, 06 October 2023

UIB to launch Miami business, hires former Ardonagh duo Torres and Pedraza

Francisco Torres joins UIB as CEO of the Miami operation after a stint at Price Forbes and Ed Broking.

Jairo Ibarra, 06 October 2023

Aircraft lessor Greylag sues insurers over ~$230mn grounded units in Indonesia

Avenue Capital-backed Greylag claimed that insurers denied coverage of the two lost aircraft, which have a value of nearly $110mn and $120mn, respectively.

Jairo Ibarra, 03 October 2023

Business executives standing on stage facing spotlight, rear view

Aon Re Brazil CEO Rodrigues and team of four depart to join Howden

Aon Re Brazil CEO Antonio Jorge Rodrigues and four other executives have left the firm and are expected to join rival broker Howden, this publication has learned.

Jairo Ibarra, 02 October 2023

UIB confirms Peru expansion via South Re and Jef Corredores de Seguros

The news comes a few weeks after this publication revealed that UIB was in advanced discussions to take over local broker South Re.

Jairo Ibarra, 26 September 2023

Miami, Florida real estate property modern mansion luxury villa house in Hollywood by Hallandale beach Three Islands with palm trees on summer day

Miami MGA Redline secures Lloyd’s coverholder status

The fac-focused underwriter launched in South Florida earlier this year, providing general liability and PV coverage in Latin American markets.

Jairo Ibarra, 22 September 2023

Less than 24 AJG client placements involved Vesttoo between 2021-2023: CFO Howell

Most of the broker’s clients have incurred losses below or about equal to ceded premiums and only one with losses exceeding ceded premiums.

Jairo Ibarra, 14 September 2023

Axa XL taps Converge’s Dagostino as global commercial lines cyber CUO

Based in New York, the executive will report to Axa XL CUO Libby Benet.

Jairo Ibarra, 14 September 2023

Gallagher Re VP Montoya moves to MS Reinsurance amid Miami treaty shake-up

The executive will move to the (re)insurer after almost two years at Gallagher Re, a company he joined after the acquisition of Willis Re in late 2021.

Jairo Ibarra, 12 September 2023

Westfield Specialty confirms England’s appointment as international CUO

The move comes three months after this publication revealed that England was to take a position at Westfield based in London after a stint at Hiscox.

Jairo Ibarra, 12 September 2023

Hamilton lines up Barclays and Morgan Stanley as IPO bankers

Last week, the Bermudian carrier filed its draft registration statement for a proposed IPO to the US Securities and Exchange Commission.

Adam McNestrie, 11 September 2023

Reinsurance, MGAs areas where WTW is looking to optimize its portfolio: CEO Hess

Besides reinsurance broking, MGAs and MGUs, affinity is another segment where WTW can scale its operations, the executive noted.

Jairo Ibarra, 08 September 2023

Chile’s Conosur takes CMF’s Beresford as reinsurance head

Sources said the executive will head up Conosur's reinsurance operations following the departure of Andres Cisternas, who moved to THB earlier this year.

Jairo Ibarra, 06 September 2023

UIB in advanced talks to take over Peru’s South Re

The news comes two months after this publication revealed that UIB was exploring the acquisition of the Lima-based aviation-focused reinsurance intermediary.

Jairo Ibarra, 05 September 2023

Vesttoo judge approves $3.5mn staff payouts

A committee of unsecured debtors was appointed, including Markel, Clear Blue, Porch’s HOA, United Automobile Insurance and Proventus.

Jairo Ibarra, 01 September 2023

Up to $2.35bn of LOCs that collateralised Vesttoo cells ‘invalid’

The Aon unit noted 37 LOCs “purportedly procured by China Construction Bank (CCB), Banco Santander and Standard Chartered Bank US”.

Jairo Ibarra, 29 August 2023

Arch Re elevates Doughty to property CUO, Soares to casualty, specialty CUO

In addition, Arch Re global CUO Pierre Jal moved to Zurich to take over as Europe CUO, while president Matthew Dragonetti expanded his scope to lead client-centric initiatives.

Jairo Ibarra, 29 August 2023

Markel lands Munich Re’s Umphress as NA head of terrorism

Based in New York, the executive will report to Markel’s terrorism director Ed Winter, who is based in London.

Jairo Ibarra, 29 August 2023

Everest adds AIG’s McDermott as global insurance chief actuary

In her new position, McDermott will report directly to Everest insurance CEO Mike Karmilowicz, effective immediately.

Jairo Ibarra, 28 August 2023

Cyber specialist Trium confirms Watson as head of international underwriting

In late May, this publication revealed the appointment along with Mauro Signorelli’s, who served as head of international cyber at Aspen Insurance.

Jairo Ibarra, 28 August 2023

Australia’s Steadfast confirms US expansion plans via M&A

The company has narrowed the pool of potential US targets to acquire from six to two and expects to provide more details in coming weeks.

Jairo Ibarra, 23 August 2023

Lower H1 cat losses reflect Aspen’s book reposition: CEO Cloutier

Insurance's GWP decline was driven by a couple of programs that were underperforming, while reinsurance's deceleration was driven by a deliberate slowdown in the mortgage book.

Jairo Ibarra, 22 August 2023

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Lahaina Fire expected to be an earnings event, effects of reconstruction, BI claims unclear

The development in reconstruction costs and contingent BI claims may put the ultimate sum beyond current estimates.

Kyoung-son Song, 17 August 2023

Ardonagh takes Aon Re’s Baron for Price Forbes Miami treaty launch

Sources said Baron is joining Price Forbes after nearly seven years at Aon, where he was managing director based in South Florida.

Jairo Ibarra, 17 August 2023

IGI Q2 CoR falls 1.4 points to 73.5% as higher earned premiums offset increased net losses

The Q2 underwriting improvement was also driven by a higher favorable reserve development of $15.5mn compared with $5.5mn a year earlier.

Jairo Ibarra, 15 August 2023

Sura sells Salvadorean unit to Central American insurer Ficohsa for $43.7mn

The deal comes after this publication revealed that Sura’s sale of its Salvadorean unit had drawn the interest of regional carriers Ficohsa and ASSA.

Jairo Ibarra, 15 August 2023

Berkshire Hathaway exits Marsh McLennan position, holds Aon, Markel

The Omaha conglomerate held its ~2.1% stake in Aon valued at nearly $1.5bn and its interest of over 3% in Markel, worth over $652mn at the end of Q2.

Jairo Ibarra, 15 August 2023

Tysers Singapore CEO Drury exits amid international turnaround

The executive has extensive experience in the reinsurance broking sector both in Asia and London, having worked for Aon Benfield, Cooper Gay and Willis Re in the past.

Jairo Ibarra, 10 August 2023

Higher US reserve charges, cat losses send Argo Q2 CoR up 11.1 points to 107.3%

The US operations drove the net adverse development with a $25.4mn hit, up from $6.7mn in Q2 2022, attributable to business lines the company has exited.

Jairo Ibarra, 07 August 2023

OdysseyRe recruits ex-Everest Miami treaty specialist de Tomas as VP

Earlier this week, this publication revealed that the firm parted ways with treaty VP and former TransRe executive Humberto Contasta.

Jairo Ibarra, 03 August 2023

SiriusPoint CoR falls 11.2 points to 81.9% on higher reserve releases after LPT

The LPT SiriusPoint struck with Compre was reduced to $905.6mn from $1.3bn as a result of paid losses and favourable prior-year reserve development.

Jairo Ibarra, 02 August 2023

Carlyle tests waters for minority investor in giant claims manager Sedgwick

Sources said the private equity house is working with Bank of America and has approached institutional capital including PE firms and sovereign wealth funds.

Adam McNestrie, 02 August 2023

Tysers Miami VP Camacho departs as broker restructures LatAm operation

Tysers’ pullback comes as other broking firms have expanded their LatAm operations via M&A or strategic hiring in recent years.

Jairo Ibarra, 02 August 2023

AIG to ‘likely’ buy ADC to minimize reserve exposure in Validus book: CEO Zaffino

AIG decided to buy additional retrocessional protection for Validus Re and a low XoL reinsurance placement for its Private Client Group (PCG) ahead of the wind season.

Jairo Ibarra, 02 August 2023

Miami-based treaty VP Contasta exits OdysseyRe

The executive joined the reinsurer a year ago after over 14 years at TransRe, where he held various property treaty positions.

Jairo Ibarra, 02 August 2023

PartnerRe H1 non-life CoR ticks up 1.6 points to 83.5% as NEP rises 10%

The company said the NEP expansion reflected 6% growth in P&C, 7% in specialty lines and 21% in L&H.

Jairo Ibarra, 01 August 2023

AIG GI Q2 CoR rises as cats, lower reserve releases offset margin improvement

AIG grew GI NWP in NA by 17% to nearly $4bn as both commercial lines and personal lines NWP rose 17% to over $3.4bn and $563mn, respectively.

Jairo Ibarra, 01 August 2023

Mosaic receives growth investment from Atalaya and Culpeper Capital

The Bermuda-based specialist said the capital injection will boost its talent acquisition and product development plans.

Jairo Ibarra, 01 August 2023

Aon faces legal actions, Bermuda investigation over Vesttoo collateral issues

The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.

Jairo Ibarra, 28 July 2023

Gallagher has 55 term sheets representing $700mn annualised revenue

Gallagher Re posted 11% organic growth in Q2, down from 12% in Q1, while RPS recorded 10%, up from 8% the previous quarter.

Jairo Ibarra, 28 July 2023

Everest to name Liberty’s Ocampo as CEO of Colombian business

This will be the second senior appointment for Everest in LatAm after the (re)insurer hired Chubb’s Jaime Chaves as CEO in Mexico as part of its global build-out.

Jairo Ibarra, 27 July 2023

Everest Q2 LR falls 4 points as lower cat losses offset higher insurance LR

Everest’s reinsurance unit grew GWP nearly 27% to ~$2.8bn, driven by an increase of 34.7% in property pro-rata, 29.6% in property cat and 16.2% in casualty pro-rata.

Jairo Ibarra, 26 July 2023

Vesttoo: ‘Appears procedures were circumvented’ following LOC controversy

The firm said it will use the results of an analysis being conducted by experienced investigators to "take appropriate measures”.

Jairo Ibarra, 26 July 2023

CyberCube: 67% of 377 MoveIt victims were US-based entities

CyberCube found 2,890 vulnerable MoveIt managed file transfer (MFT) deployments mapped to companies in 75 countries at the end of June.

Jairo Ibarra, 25 July 2023

Clear Blue sales process paused following Vesttoo fallout

Clear Blue has put its sales process on hold as the fronting company assesses the implications of Vesttoo’s collateral inconsistencies, this publication has learned.

Jairo Ibarra, 24 July 2023

Allstate books $1bn cat loss for June, $181mn Q2 reserve charge

Nearly $148mn of the unfavorable reserve development was related to National General, primarily driven by personal auto injury coverages.

Jairo Ibarra, 20 July 2023

BMS Re acquires Brazilian reinsurance intermediary KNW Brokers

The acquisition is led by former Capsicum and Guy Carpenter fac broker Márcio Ribeiro.

Jairo Ibarra, 17 July 2023

Sura’s up-for-sale Salvadorean business draws regional insurers’ interest

Sources said parties inquiring about Sura’s operation in El Salvador include ASSA and Ficohsa, two of the largest carriers in the region.

Jairo Ibarra, 14 July 2023

Tokio Marine to halt writing new Cali HO business, targets June 2026 personal lines exit

Sources said the Japanese insurer will pull back from the California personal auto market in June 2025 as it is set to exit the state’s admitted personal lines market on June 1, 2026.

Jairo Ibarra, 13 July 2023

Axa mulling sale of reinsurance operation: report

The French carrier is exploring the spin-off of the XL Re operations via a private sale or stock market listing, according to Reuters.

Jairo Ibarra, 12 July 2023

Is the LatAm broking market bound for an uptick in M&A activity?

As M&A activity picks up, sources said Central American reinsurance broker Asesores Intermediarios de Reaseguro is exploring a sale of the business.

Jairo Ibarra, 10 July 2023

Generali to acquire US investment firm Conning from Cathay Financial

As part of the deal with Generali, Cathay will take a 16.75% stake in GIH.

Jairo Ibarra, 06 July 2023

Australian broker Steadfast exploring acquisitions as it eyes US expansion

Sources said the company has approached some US bankers and consultants as it is actively looking for potential targets in the country.

Jairo Ibarra, 03 July 2023

Fidelis shares fall 7.9% to $12.97 following New York IPO

Fidelis shares closed down from the $14 per share price set for the IPO, or a 0.8x multiple of its $17.19 book value per share at end of Q1 2023.

Jairo Ibarra, 29 June 2023

P&C reserve releases slowing as questions around adequacy emerge: Swiss Re

Reserves eased slightly from 2020 through 2022, driven by motor and general liability sectors in the US and UK.

Jairo Ibarra, 26 June 2023

Scor deputy CEO for global P&C reinsurance Gavazzi to retire

The executive has worked for the French carrier for almost four decades in various roles in Toronto, Paris and Milan.

Jairo Ibarra, 24 June 2023

AIG appoints Purtill as permanent CFO

Purtill became interim CFO in January after AIG terminated Mark Lyons, saying the executive violated his confidentiality/non-disclosure obligations to the firm.

Jairo Ibarra, 20 June 2023

TransRe Miami-based property fac VP Cisneros to depart

Sources said the executive, who has over two decades of experience in the (re)insurance sector, will take a position at regional intermediary Reasinter.

Jairo Ibarra, 12 June 2023

Colombian insurer Sura mulls sale of international operations

Sources said some assets expected to be up for sale include Central American units and other businesses, including some Mexican and larger South American operations.

Jairo Ibarra, 06 June 2023

Ex-Corvus chief of insurance Bailey to re-emerge in new role at Axis

She will report to global head of cyber and technology Dan Trueman and play a key role in shaping the team’s strategic direction.

Jairo Ibarra, 02 June 2023

Palomar completes reinsurance renewal with $550mn earthquake limit

This year’s program – sealed with a panel of 78 reinsurers – includes $875mn of multi-year ILS capacity providing diversifying collateralized reinsurance capital.

Jairo Ibarra, 30 May 2023

Lloyd’s withdraws from NZIA after carrier exodus

The Corporation’s exit is the latest blow to the alliance and the announcement comes just hours after Sompo and QBE became the eighth and ninth firms to leave the initiative.

Jairo Ibarra, 26 May 2023

OdysseyRe taps Guy Carpenter’s Shafer as NA cyber head

Based in Stamford, Connecticut, the executive will oversee the carrier’s cyber fac and treaty operations reporting to NA CEO Brian Quinn.

Jairo Ibarra, 26 May 2023

Everest sells stake in Miami fac MGA BUA

Sources said the (re)insurer held an equity interest of approximately 20% in the Miami-based MGA.

Jairo Ibarra, 25 May 2023

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Allianz elevates de la Cuerda, Colmenares to Iberia, LatAm commercial leaders

De la Cuerda will oversee Allianz’s commercial unit in Spain and Portugal, reporting to both Allianz Spain CEO Veit Stutz and AGCS chief regions officer Henning Haagen.

Jairo Ibarra, 24 May 2023

RenRe to keep $2.7bn of $3bn acquired premium in Validus Re deal

The Bermudian reinsurer launched a public offering of 6,300,000 common shares and anticipates raising around $1.15bn to finance the transaction.

Jairo Ibarra, 23 May 2023

Ex-Everest international head Diaz re-emerges at fac MGA BUA

Based in Miami, the executive joins BUA as partner, working alongside managing director and CUO Juan Calvache.

Jairo Ibarra, 22 May 2023

SiriusPoint CEO Egan’s salary set at $1.1mn following Bermuda relocation

Egan will receive an annual base salary of $1.1mn and an annual target bonus equal to 140% of his salary.

Jairo Ibarra, 19 May 2023

Aspen posts 80.9% Q1 CoR and $129.3mn in net income

The company did not provide prior-year period figures as it usually discloses its results on a semiannual basis.

Jairo Ibarra, 19 May 2023

Orion180 secures $455mn XoL coverage, places 75% QS with Arch-led panel

The carrier's global reinsurance panel is led by Arch Re and encompasses 43 other reinsurers, including multiple Lloyd’s syndicates.

Jairo Ibarra, 18 May 2023

Competitors have sought to suppress employee mobility through litigation: Alliant

The broker said it intends to vigorously defend itself against Aon’s allegations concerning the departure of fac re employees.

Jairo Ibarra, 17 May 2023

IGI treaty rates rose 30% in Q1, PV increased 40%: Jabsheh

The executive said IGI is seeing similar trends in treaty rate renewals during the second quarter of the year.

Jairo Ibarra, 17 May 2023

IGI Q1 loss ratio climbs 13.3 points to 45.7% on higher cat losses

The (re)insurer’s losses were driven by various cat events, including the earthquake in Turkey and flooding in New Zealand from Cyclone Gabrielle, both in February.

Jairo Ibarra, 16 May 2023

Aon sues Alliant over 26 poached fac re executives

Aon claims that Alliant has poached around 32% of Aon’s facultative reinsurance group, including 18 of the 25 Aon employees in the casualty fac team at all levels.

Jairo Ibarra, 16 May 2023

Third Point halves stake in AIG three months after building a position

The Dan Loeb-controlled investment firm reduced its position in AIG to 2.95 million shares, or ~0.4%, in Q1, from or 5.1 million shares, or around 0.7%, at the end of Q4.

Jairo Ibarra, 16 May 2023

Cyber frequency fell 22% in 2022 as ransomware dropped 54%: Coalition

The cyber MGA reported that claims severity increased by 7% to an average loss of nearly $169,000, fueled by business email compromise and other types of attacks.

Jairo Ibarra, 16 May 2023

Activist Starboard further reduces position in WTW to ~1.7%

Three months ago, Starboard trimmed its stake by almost 14% to 1,925,491 shares valued at over $470mn from 2,232,209 shares at the end of Q3.

Jairo Ibarra, 15 May 2023

Berkshire Hathaway buys 4,050 additional Markel shares, sells 61,000 Aon shares in Q1

Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.

Jairo Ibarra, 15 May 2023

Alliant Re targeting $30mn-$50mn in revenue over three years: P&C head Arkley

The fac-focused reinsurance unit expects to expand into treaty over the next year and attract additional talent to boost its operations.

Jairo Ibarra, 15 May 2023

Third Point’s Loeb pulls SiriusPoint buyout over valuation disagreement

Loeb revealed his intention to take SiriusPoint private last month, saying that it would better position the company to execute its turnaround strategy.

Jairo Ibarra, 12 May 2023

Amynta completes $400mn Ambridge takeover

The transaction, which was announced in early January, included Ambridge’s operations in the US, UK and Germany.

Jairo Ibarra, 11 May 2023

Cogent launches Colombian operation Andina with ex-BRS VP Prieto

Cogent Andina will operate as a reinsurance broker in commercial P&C and specialty lines, including aviation.

Jairo Ibarra, 10 May 2023

Argo Q1 CoR deteriorates 13.1 points to 108.1% on $48.6mn reserve charge

The charge was related to a reassessment of potential claims in professional lines, mostly from accident years 2019 and prior, and to losses from businesses Argo has exited.

Jairo Ibarra, 08 May 2023

Lockton to acquire ~250-employee THB Brazil from Amwins

Following the deal, Jose Otavio Sampaio will continue as Lockton Brazil CEO while THB Brazil CEO Eduardo Lucena will become deputy CEO of the combined entity.

Jairo Ibarra, 04 May 2023

SiriusPoint’s stake in MGA Banyan reduced to 49% from 100% after recap

Bermudian carrier SiriusPoint’s equity stake in D&O MGA Banyan Risk has been reduced to 49% from 100%, filings show.

Jairo Ibarra, 04 May 2023

SiriusPoint appoints former Hiscox CEO Masojada to board

Following the departure of Gretchen Hayes and the appointment of Masojada, SiriusPoint board will consist of nine directors, six of whom are independent.

Jairo Ibarra, 03 May 2023

SiriusPoint Q1 CoR improves 19.9 points to 73.8% on reinsurance reserve releases

The Bermudian disclosed that its board has established a special committee of independent directors to review any acquisition proposal by Dan Loeb.

Jairo Ibarra, 03 May 2023

Chubb paid $567mn for 22% Huatai stake, expects $800mn disbursement upon closing

In early January, the company completed the transactions to increase its position in Huatai to 64.2% from 47.3%.

Jairo Ibarra, 03 May 2023

Tuck-in M&A multiples currently ‘not coming down’: Pat Gallagher

The CEO also said Gallagher Re posted a 12% organic revenue growth in Q1 amid the current hardening of the reinsurance market.

Jairo Ibarra, 28 April 2023

AJ Gallagher Q1 organic growth decelerates two points sequentially to 9.7%

Gallagher’s operating earnings per share soared 9.8% to $3.03 – beating analyst consensus of $2.99 earnings per share – in Q1.

Jairo Ibarra, 27 April 2023

Markel’s LPT deal with Marco priced at $125.1mn

The loss portfolio transfer deal was completed in March of this year, covering £200mn of UK motor insurance claims.

Abbie Day, 27 April 2023

Axis’s April renewals yielded 9% rate, 85% retention amid reinsurance reposition: Tizzio

The withdrawal from the aviation reinsurance class announced yesterday represented ~$10mn of non-renewed premium.

Jairo Ibarra, 27 April 2023

Axis Q1 GWP down 9.6% following property cat and aviation reinsurance exits

The decrease was also driven by non-renewals of some marine business in Q1 as well as declines in some specialty lines including liability, and accident and health.

Jairo Ibarra, 26 April 2023

Generali puts Tua Assicurazioni up for sale: report

The carrier has retained advisers to run the sale process of the unit, which is valued at over $330mn, according to Bloomberg News.

Jairo Ibarra, 24 April 2023

AJG buys additional stake in Colombian unit from local leader

Sources said the executive had a minority ownership interest believed to be around 20%-30% of the operation.

Jairo Ibarra, 24 April 2023

Argo shareholders approve $1.1bn Brookfield Re buyout

The companies expect to complete the transaction in the second half of the year, subject to regulatory approvals and customary closing conditions.

Jairo Ibarra, 19 April 2023

Fairfax buys Kipco’s 46.3% stake in Gulf Insurance for $860mn

With the deal, the Canadian conglomerate will boost its ownership interest in the Middle East carrier to 90%.

Jairo Ibarra, 19 April 2023

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Volante to launch US M&A insurance operation with BlueChip trio

Sources said BlueChip NY-based managing directors Chris Opisso, Jon Sprintz and Jason Tomitz will join Volante to run the unit.

Jairo Ibarra, 14 April 2023

The Hartford pegs Q1 cat losses at $185mn from winter storms, tornados

The Connecticut-based insurer said $138mn in cat losses stemmed from its commercial lines segment, while $47mn came from personal lines.

Jairo Ibarra, 13 April 2023

Enstar completes $1.9bn LPT with QBE

The deal includes a diversified book of international and NA financial lines, European and NA reinsurance portfolios, and several US discontinued programs.

Jairo Ibarra, 10 April 2023

Aon LatAm veteran Artunduaga, team of three move to WTW

Based in London, Artunduaga has served as Aon’s LatAm network leader. In addition, Chile-based Jose Necochea, Victor Padilla and Andres Claro will move to WTW.

Jairo Ibarra, 06 April 2023

US insurance leaders urge US, China to stabilise relations in face of Taiwan visit

Their remarks follow a slump in diplomatic relations between the two countries over the island nation.

Jairo Ibarra, 05 April 2023

Ocean Re hires former Canopius reinsurance head Wakeling as CUO

Based in London, the executive will report directly to the company's incoming CEO Guillermo Eslava, who will take over the position in Q2.

Jairo Ibarra, 03 April 2023

Lockton Re continues LatAm treaty expansion with Aon’s Ibacache

The executive joins Lockton Re after almost 11 years at Aon Benfield, where he was treaty broker based in Chile.

Jairo Ibarra, 30 March 2023

Axis enlists Chubb’s Watt as chief claims officer

Based in New York, Watt will report directly to Axis specialty insurance head and incoming group CEO Vince Tizzio.

Jairo Ibarra, 30 March 2023

Increased exposure bases fueling construction premium growth: WTW

WTW said driver shortages continue to force contractors to use younger, often less experienced drivers, potentially putting upward pressure on losses.

Jairo Ibarra, 30 March 2023

Tom Gallagher to become president amid AJG leadership reshuffle

Incoming Gallagher Re CEO Tom Wakefield will also report to EMEA CEO Matson, who gets an expanded role.

Adam McNestrie, 29 March 2023

Mapfre Re elevates Bueso to LatAm head as Espinosa retires

As part of her new position, the executive will join Mapfre’s senior management committee, effective 1 April.

Jairo Ibarra, 29 March 2023

Echo Re hires former Axis Re LatAm leader Krenboeck as regional manager

In addition, Echo Re recruited Ariadna Garcia as senior underwriter for LatAm and the Caribbean.

Jairo Ibarra, 27 March 2023

Ark withdraws from product recall, with Eaton and team set to depart

The recall market has been affected by flat rates, as well as loosening policy terms and conditions.

Abbie Day, 21 March 2023

Ex-TMR CEO Hoshina fundraising for Bermuda reinsurer/MGA Fathom

City of London grandee Martin Gilbert is attached to the project in a non-executive capacity, sources said.

Liz Bury, 15 March 2023

Everest continues LatAm build-out in Mexico with XL license, Chubb’s Chaves

It is understood that Everest acquired XL’s insurance license in Mexico from Axa, which already had one in the LatAm country when it acquired XL a few years ago.

Jairo Ibarra, 10 March 2023

Guy Carpenter settles GC Access lift-out case with Howden

The companies did not disclose whether any money exchange hands as part of the agreement.

Jairo Ibarra, 08 March 2023

Sompo International names former PartnerRe exec Burnet CFO as McGuire steps down

Based in Boston, the executive will report to Sompo International CEO James Shea.

Jairo Ibarra, 07 March 2023

Argo estimates ~$9.8mn in golden parachutes, details sale process

Argo’s first bids included an implied firm value of $49.71 per Argo common share and $40 per share in cash, among others.

Jairo Ibarra, 06 March 2023

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Aircraft engines lessor sues insurers over ~$90mn losses from Russia-Ukraine war

The lawsuit argues that one engine that was leased out in Ukraine and 16 engines that were leased out in Russia have suffered physical loss or damages.

Jairo Ibarra, 03 March 2023

Amwins hires former Howden director Herrera as SVP

The appointment comes over a month after this publication revealed that Herrera has left his director position at Howden Specialty after over two years.

Jairo Ibarra, 01 March 2023

Enstar’s Enhanzed Re buys back 24.9% stake from Allianz for $174mn

Following the completion of this transaction, Enhanzed Re became a wholly owned subsidiary of the legacy carrier.

Jairo Ibarra, 01 March 2023

Argo reports 21.9-point drop in CoR to 100.5%, takes another US reserve charge

The firm’s US unit recorded $36.6mn of net unfavorable development in Q4 2022, compared with a $121.6mn charge in Q4 2021.

Jairo Ibarra, 01 March 2023

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Bank of America promotes Alpert, Kleinsteuber to global insurance IB co-heads

Alpert joined BAML in 2018 from UBS as managing director to lead the bank’s EMEA insurance-focused team while Kleinsteuber has led the US insurance unit since 2020.

Adam McNestrie, 27 February 2023

Berkshire Hathaway’s reinsurance unit reports $1.39bn profit for 2022

TransRe contributed $986mn of P&C re premium during the year.

Rachel Dalton, 27 February 2023

SiriusPoint to reduce investment appetite for MGAs and InsurTech: CEO Egan

The executive didn’t provide a target for the number of investments it expects to keep, but said SiriusPoint will not be an active acquirer in the near term.

Jairo Ibarra, 24 February 2023

Enstar strikes LPT with Australia’s RACQ to reinsure 80% of motor liabilities

RACQ will cede net reserves of approximately A$360mn (~$247mn), and Enstar will provide around A$200mn (~$130mn) of cover in excess of the ceded reserves.

Jairo Ibarra, 21 February 2023

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Miami Reinsurance Week: Cats, riots and Argentina’s currency crisis

Topics discussed included Caribbean cat risk, protests in Peru, crisis in Argentina and the World Cup.

Jairo Ibarra, 21 February 2023

Swiss Re elevates Ningen to US P&C reinsurance CEO, Crosby to Canada head

The appointments will be effective July 1, subject to regulatory approvals.

Jairo Ibarra, 17 February 2023

Scor promotes Lomeli to LatAm CUO succeeding Grieve

It is understood that industry veteran James Grieve will retire this summer after over 16 years at the French reinsurer.

Jairo Ibarra, 17 February 2023

Tysers terminates license agreements in Argentina and Chile

It is understood that Tysers’ Latin America head Hugh Powell, who is also a shareholder in the South American operation, has left the UK brokerage.

Jairo Ibarra, 15 February 2023

Ageas Re launches property-focused LatAm operation with SiriusPoint’s Rensonnet

The reinsurer is planning to offer limits up to $10mn per client and $40mn per territory across the region.

Jairo Ibarra, 13 February 2023

Brookfield Re: Spotlight on Argo's buyer

The reinsurer said in its Q4 earnings call that Argo’s takeover further diversifies its operations and adds a foundational piece to its expanding P&C activity in the US.

Jairo Ibarra, 09 February 2023

Marsh’s Brockmann takes additional role as Marsh McLennan LatAm CEO

Based in Mexico City, Brockmann will report to Marsh McLennan International CEO Flavio Piccolomini, who took over that role earlier this month.

Jairo Ibarra, 09 February 2023

Intact addressing UK performance via rate, risk selection, market segments: CEO Brindamour

The executive noted that Intact has exited C$500mn of business, with a CoR over 110% in the UK&I segment.

Jairo Ibarra, 08 February 2023

Cat losses in the UK send Intact’s Q4 headline CoR up 3.7 points to 91.5%

Overall, the company booked C$167mn of cat losses in Q4, or C$24mn above the C$143mn estimate that Intact reported on January 12.

Jairo Ibarra, 07 February 2023

The Hartford renews cat reinsurance with 28% risk-adjusted cost increase: CFO Costello

The company increased its attachment point on the $200mn aggregate cover to $750mn, up from $700mn.

Jairo Ibarra, 03 February 2023

BMS adds Howden’s Martinez to senior LatAm commercial team

In her new position, the executive will oversee the South American region, excluding Brazil.

Jairo Ibarra, 02 February 2023

Cyber market faces 2023 discipline test as rate softening emerges in excess layers

Cyber rates in excess layers saw decreases of mid-single digits to low double digits in the last quarter while primary layers remained flat or experienced low rate rises.

Jairo Ibarra, 02 February 2023

Markel’s Q4 loss ratio up 8.4 points to 60.3% despite reinsurance improvement

The firm’s insurance LR rose to 60.7% from 49.1%, while the reinsurance LR moved down to 58.7% from 64.1%.

Jairo Ibarra, 01 February 2023

Chubb CEO: ‘If conditions are right, Chubb is a risk taker in property cat’

Evan Greenberg addressed questions about property cat reinsurance on a Q1 earnings call.

Jairo Ibarra, 01 February 2023

Chubb’s Q4 CoR up 2.5 points to 88% driven by agriculture U/W loss, higher cats

Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.

Jairo Ibarra, 31 January 2023

AIG terminates Lyons for violating confidentiality, non-disclosure obligations

To replace Lyons, AIG appointed Sabra Purtill as interim CFO and Turab Hussain as interim chief actuary.

Jairo Ibarra, 30 January 2023

RLI renews cat treaty with 45% risk-adjusted rate increase: COO Klobnak

RLI renewed its property per-risk treaty with an estimated 40% risk-adjusted rate increase, and the first dollar retention went up to $2mn.

Jairo Ibarra, 26 January 2023

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Insurers demand jury trial in Aircastle’s $265.9mn aircraft losses lawsuit

In addition, Lloyd's syndicates Atrium and Syndicate 1183 asked the judge to dismiss the case against them in its entirety.

Jairo Ibarra, 25 January 2023

Lockton continues LatAm treaty buildout with Aon’s Paramo

Before the move, the executive spent 12 years at Aon working as a reinsurance broker based in London.

Jairo Ibarra, 25 January 2023

InsurTech Coverdash completes seed round to launch US operation

The funding round was led by Bling Capital, and included angel investors such as Vantage Risk CEO Greg Hendrick and CRC Insurance president Garret Koehn

Jairo Ibarra, 23 January 2023

Ageas draws fresh takeover interest from BE Group: report

This is not the first time BE Group has shown interest in acquiring the Belgian carrier.

Jairo Ibarra, 19 January 2023

Aspen Capital Markets hires Hiscox Re’s Lee as COO

Based in Bermuda, the executive will oversee the firm’s investments in technology and support its growth initiatives.

Jairo Ibarra, 19 January 2023

Howden Specialty director Herrera exits Miami office

The executive worked at Howden’s office in south Florida for over two years, following a nine-year spell at Guy Carpenter.

Jairo Ibarra, 19 January 2023

Oneglobal receives broking licence in Bolivia

Sources said the company obtained the license from local authorities to operate as a reinsurance broker and is running a similar process in Colombia.

Jairo Ibarra, 18 January 2023

Liberty Mutual weighs sale of LatAm units

The Boston-headquartered mutual is understood to have recently pitched potential acquirers of the LatAm assets.

Adam McNestrie, 17 January 2023

Everest pulls paper from Miami fac MGA Brickell Underwriting

It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re.

Jairo Ibarra, 12 January 2023

ABIR appoints Hamilton’s Albo as chair, succeeding Arch’s Grandisson

Albo is the first woman appointed to the organization’s chairmanship in its 30-year history.

Jairo Ibarra, 10 January 2023

RenRe bolsters underwriting leadership with slew of CUO promotions

The firm elevated Justin O'Keefe, Cathal Carr, Fiona Walden and Bryan Dalton to US and Bermuda, Europe, casualty & specialty, and property CUOs, respectively.

Jairo Ibarra, 05 January 2023

Aon Re’s deputy global fac CEO Tassarotti to take new commercial risk role

Aon Reinsurance Solutions has appointed fac strategic growth leader Muñoz to take over Tassarotti’s position as deputy CEO of global fac.

Jairo Ibarra, 16 December 2022

Axis strikes LPT deal with RiverStone for PL, liability insurance portfolios

The transaction covers net reserves for losses and loss expenses of approximately $400mn and provides ground-up cover to a policy limit of $605mn.

Jairo Ibarra, 15 December 2022

Barents Re to sell stake in Mexican surety specialist Avanza

The Cayman Islands-headquartered reinsurer held a 49% stake in the Mexican firm, according to its 2021 annual report.

Jairo Ibarra, 07 December 2022

Lloyd’s Miami-based LatAm head Revilla to depart

It is understood that Revilla will work at Lloyd’s in South Florida until year-end.

Jairo Ibarra, 30 November 2022

Former Tysers Peru CEO Ocampo re-emerges at THB’s local unit

It is understood that the executive joined THB Peru in a managing director position.

Jairo Ibarra, 29 November 2022

Marsh taps Knowles as global head of PE, M&A practice

In his new role, Knowles will report to Lucy Clarke, president of Marsh Specialty, and will relocate from London to New York in Q2 2023.

Jairo Ibarra, 29 November 2022

Ardonagh buys Australia’s Envest for £270mn

The Envest transaction includes the acquisition of Aviso Group, a network of broking offices across five states and 10 MGAs.

Jairo Ibarra, 23 November 2022

InsurTech DeNexus opens London office

The operation will be led by global product VP Mitesh Chauhan, who joined the cyber risk modeling firm from Entrust.

Jairo Ibarra, 22 November 2022

Arch recruits WTW’s Bradley as senior cyber underwriter

In his new position, the executive will report to Arch’s head of cyber and technology E&O, Marcus Breese.

Jairo Ibarra, 21 November 2022

Chubb secures regulatory approval to increase Huatai stake to 83.2%

Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.

Jairo Ibarra, 18 November 2022

S&P downgrades Scor FSR to A+ on ‘persistent underperformance’

In response, Scor said it is taking all possible steps to improve its profitability.

Jairo Ibarra, 17 November 2022

Markel co-CEO Whitt to retire on January 1

Following Whitt’s retirement, co-CEO Thomas Gayner will become sole chief executive, while SVP and CFO Jeremy Noble will become president.

Jairo Ibarra, 17 November 2022

Ocean Re strikes deal to acquire Miami-based MGA Insight Re

Following the deal, Insight Re founder and CEO Guillermo Eslava will become Ocean Re CEO in Q2 2023, succeeding Carlos Chamorro.

Jairo Ibarra, 16 November 2022

Westfield recruits Axis Re’s Looney as CFO

The executive will report to Westfield president Jack Kuhn and be based in New York.

Jairo Ibarra, 16 November 2022

Marsh McLennan CEO Doyle to receive $1.4mn salary, $3.5mn target bonus

In addition, the executive will be eligible to participate in the company's long-term incentive program with a target grant date value of $11.1mn.

Jairo Ibarra, 15 November 2022

Aircastle sues insurers in NY over $265.9mn aircraft losses from Russia-Ukraine war

The amount Aircastle is looking for in the suit is, however, lower than the $350mn insurance claim that for equipment stranded in Russia.

Jairo Ibarra, 11 November 2022

Chubb SVP Cellura to assume Everest fac head role in London

Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.

Jairo Ibarra, 11 November 2022

Favorable reserve development pushes IGI’s Q3 CoR down 11.2 points to 73.8%

Q3 reserve releases were driven by an improvement in claims developments in most lines of its long-tail unit, as well as in its energy and property lines in the short-tail book.

Jairo Ibarra, 10 November 2022

RenRe elevates Marra to group CUO as Curtis takes new chief portfolio position

The Bermudian reinsurer said both appointments are effective January 1, 2023.

Jairo Ibarra, 09 November 2022

PartnerRe’s non-life Q3 CoR climbs to 106.9%, driven by $300mn Ian loss

Overall, the carrier posted $408mn of cat and man-made losses in Q3, up from $333mn a year earlier, of which $297mn related to Hurricane Ida and the European floods.

Jairo Ibarra, 09 November 2022

Tokio Marine to land $186mn from TM Highland’s construction book sale to Intact

Intact financed the acquisition of the US builders risk portfolio through a $188mn term loan that was repaid before quarter-end, according to its Q3 statements.

Jairo Ibarra, 09 November 2022

Argo burns through more than half of $75mn Enstar loss corridor

Argo has recognized $37.7mn of prior year development (PYD) in the first nine months of 2022, which falls within the retained loss corridor of $75mn in the loss portfolio transfer (LPT) deal the specialty insurer struck with Enstar in Q2 for its US insurance back-book.

Jairo Ibarra, 08 November 2022

Brown & Brown completes $86.7mn BdB deal in Q3

The transaction marks another step in the broker’s acquisition spree this year, including the $1.85bn GRP deal – closed on July 1 – and the $487mn takeover of MGA Orchid.

Jairo Ibarra, 08 November 2022

Up-for-sale Argo’s Q3 CoR rises 0.8 points to 101.1%

The specialty insurer booked an $11.9mn overall net adverse reserve development, up from $6.2mn last year, fueled by a $16.2mn charge in the US business.

Jairo Ibarra, 07 November 2022

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Fairfax buys additional 12% stake in Allied World for $733.5mn

The Canadian holding company increased its ownership in the Bermudian carrier to 82.9% from 70.9%.

Jairo Ibarra, 03 November 2022

SiriusPoint to cut 75% of international cat treaty exposure: CEO Egan

The impact of Ian losses on SiriusPoint’s total equity was ~3.5%, lower than RenRe and Everest, and in line with Axis.

Adam McNestrie, 03 November 2022

AIG Q3 GI CoR falls 2.4 points to 97.3% despite $450mn Ian loss

The firm’s North America CoR deteriorated 8.3 points to 114%, but the international division’s CoR improved 13.3 points to 81.4%.

Jairo Ibarra, 01 November 2022

Capital Returns says Bobman, Michelson should replace Ramji, Bailey on Argo’s board

Argo is set to hold its annual meeting with shareholders on December 15, when seven nominees will be elected to the board.

Jairo Ibarra, 31 October 2022

Arch’s Q3 CoR rises 5.9 points to 97.3% amid $550.8mn cat loss

The cat and expense developments offset favorable reserve developments during the quarter, as the Bermudian released $178mn.

Jairo Ibarra, 26 October 2022

Chubb takes $975mn Q3 hit on net Ian losses

The insurer takes a $1bn retention on US losses but could have made some reinsurance recoveries.

Fiona Robertson, 26 October 2022

Kin’s reciprocal projects $2.5mn Ian loss, captive reinsurer Kincession expects $2.5mn

The homeowners’ InsurTech reported that it has received approximately 6,800 claims associated with Hurricane Ian to date.

Jairo Ibarra, 21 October 2022

Axis forecasts $212mn in Q3 cat losses including $160mn Ian hit

The firm’s insurance business recorded $100mn of Ian-related losses while the reinsurance unit booked $60mn.

Jairo Ibarra, 20 October 2022

Potential $600mn-$750mn of losses in Chile threaten property risk market

Sources estimated potential losses incurred by Coldeco at $400-$500mn, by Arauco at $100mn-$150mn and by CMPC facilities at $100mn.

Jairo Ibarra, 20 October 2022

Allstate expects $366mn in pre-tax net Ian losses, passes $305mn to reinsurers

The firm disclosed that ex-cat unfavorable prior year reserve reestimates totaled $875mn, of which $643mn were related to its personal auto unit.

Jairo Ibarra, 19 October 2022

Pembroke Pines, FL, USA. 28th Sep, 2022. A general view of the aftermath as Small aircraft are seen flipped up side down after a reported tornado touches down at North Perry Airport as Hurricane Ian approaches on September 28, 2022 in Pembroke Pines Flori

Gallagher Re sees Ian-related economic losses exceeding $100bn

Many homeowners are likely to see a significant portion of uninsured water damage despite roughly 30%-45% having NFIP coverage in certain areas.

Jairo Ibarra, 19 October 2022

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Berkshire Hathaway completes $11.6bn Alleghany takeover

The completion of the deal comes after last week the companies received all regulatory approvals.

Jairo Ibarra, 19 October 2022

Arch estimates pre-tax Q3 net cat losses at $530mn-$560mn

Arch Capital has pegged its estimated Q3 pre-tax net catastrophe losses at $530mn-$560mn, impacted by Hurricane Ian, as well as other events like US convective storms, Typhoon Nanmadol and hailstorms in France.

Jairo Ibarra, 18 October 2022

Activist investor Bobman says Argo mismanaged its sale process

Bobman said the board of directors “demonstrated poor judgment” by approving the recruitment of Jessica Snyder as president of Argo’s US insurance division.

Jairo Ibarra, 18 October 2022

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Aon pegs year-to-date global natural disaster insured losses at $99bn

Preliminary total economic losses this year through Q3, including an initial view of Hurricane Ian based on publicly available estimates, were $227bn.

Jairo Ibarra, 18 October 2022

CRC rebrands specialty programs unit as Starwind Specialty

The $3bn+ unit combines CRC Programs and the recently acquired Constellation Affiliated Partners.

Jairo Ibarra, 17 October 2022

Everest Re opens insurance operations in Paris and Düsseldorf

The French operation will be led by Anne Charon, and the German unit by Bernd Wiemann. The two were appointed country heads earlier this year.

Jairo Ibarra, 17 October 2022

Progressive’s reinsurers to take $1.2bn in property Ian losses

The carrier’s property business retained $175mn of losses net of reinsurance related to the Hurricane.

Jairo Ibarra, 13 October 2022

Coalition forms Bermudian reinsurer Ferian Re with $300mn from investors

Ferian Re will be capitalized by an investor group led by BDT Capital Partners

Jairo Ibarra, 13 October 2022

SiriusPoint recruits Guy Carpenter’s Yendall as CFO

The executive will report directly to SiriusPoint CEO Scott Egan, who joined SiriusPoint from RSA in early September.

Jairo Ibarra, 12 October 2022

Lockton launches digital asset custody facility backed by Lloyd’s syndicates

Lockton said the new program provides full access to London market capacity, estimated to be in excess of $850mn for custody coverage.

Jairo Ibarra, 12 October 2022

MS Amlin taps Carrier as MS AUL CEO, Slabbert takes MSIG US top role

Slabbert’s appointment comes after Mitsui Sumitomo’s recent acquisition of US hybrid fronting carrier Transverse Insurance.

Jairo Ibarra, 11 October 2022

Gallagher launches marine practice in Peru with team of six

The unit is led by marine veteran Ricardo Castro, who joined the firm from Marsh and has over four decades of experience in the industry.

Jairo Ibarra, 10 October 2022

InsurTech Archipelago co-founder Siggers departs

The executive, who had worked at the AI-driven platform for over four years, announced his departure on social media.

Jairo Ibarra, 10 October 2022

Lloyd’s has most E&S property exposure to Ian, Florida surplus lines data shows

Other firms such as Lexington, QBE and Zurich ranked among the top 20 underwriters in the six counties with highest exposure to Ian.

Jairo Ibarra, 04 October 2022

Aon enlists vArmour’s Kuehn as cyber MD

The executive joins Aon after three years at IT security company vArmour, where she served as SVP and adviser to the CEO.

Jairo Ibarra, 04 October 2022

Ian’s wind footprint ‘a challenge’ to reconstruct due to stations failures: RMS

Constraints in rebuilding supplies and contractors, inflation and post-event litigation will be key loss amplification drivers.

Jairo Ibarra, 03 October 2022

Construction of damaged Sanibel Causeway could cost $214mn today: Skytek

Governor DeSantis confirmed that the bridge will need structural rebuilding. A group of 100 engineers are on site to do inspections.

Jairo Ibarra, 30 September 2022

Skytek detects 22 commercial vessels worth $1bn steaming away from Ian post-event

The software company also reported that the Gasparilla Marina in Boca Grande has suffered significant damage.

Jairo Ibarra, 29 September 2022

Skytek updates commercial vessel count in Ian’s cone to 73 valued at ~$3bn

Of the 73 units, 68 are cargo ships and five are tanker vessels, according to Skytek’s analytics platform React.

Jairo Ibarra, 28 September 2022

Hurricane Ian maintains wind speeds of 155 mph as it approaches Florida

Hurricane Ian is currently moving north-northeast at 9 mph, 1 mph below the speed registered in NHC’s update earlier today at 08:00 ET.

Jairo Ibarra, 28 September 2022

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Skytek detects 23 commercial vessels worth ~$1bn in Hurricane Ian trajectory

In addition, Skytek reported 280 hotels and two windfarms in the cone of the hurricane.

Jairo Ibarra, 28 September 2022

Jairo Ibarra

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