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Interim CUO Nick Pritchard turned in his notice in August of this year. -
APAC now represents roughly 15% of all Lloyd’s premium.
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The deal confers a high multiple on Convex and gives AIG re/specialty exposure.
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The energy broker’s career also includes a stint at Price Forbes.
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The business has not initiated a sale process, with the wheels not yet actively turning on an exit for Apiary.
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The syndicate is expected to write ~$300mn of business in 2026.
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
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How do struggling governments across the globe tackle stagnating economic growth?
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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Everest’s AIG deal meaningfully cuts its primary exposure.
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The revised outlooks reflect the difficult moment as Everest moves away from retail.
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In insurance, premium growth came from all lines of business except cyber.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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Matthew Hogg joined Liberty Specialty Markets in 2010.
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BP Marsh has agreed the sale of its 28.2% shareholding as part of the deal.
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Under the terms of the offer, shareholders would receive A$45 for each AUB share.
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The Australian broker, which owns Tysers, announced a trading pause.
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The move comes as Michael Creighton is made credit and political-risk director for Africa.
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Willis Re kicked off its talent acquisition with mass hiring from Guy Carpenter over the summer.
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Plus, the latest people moves and all the top news of the week.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The appointments are aimed at offering a clearer team structure.
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The EUR100mn+ Ebitda firm is courting both PE and trade suitors.
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Beazley is one of the key leaders in the London marine marketplace.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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The Jay Rittberg-led program manager kicked off a strategic process in August.
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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The hire follows the departure of David Martin to GIC Re Syndicate.
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The Boeing cargo aircraft was wet leased by Emirates.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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The executive is charged with defrauding investors out of nearly $500mn.
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The two lines will add £11mn in planned premium.
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Plus, the latest people moves and all the top news of the week.
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David Bell has held aviation roles at Marsh, AIG, Gallagher Re and Aon.
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The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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A Lloyd’s consortium led by Beat Syndicate 4242 backs the MGA.
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IGI’s premium income has almost doubled since it listed in 2020, but how can growth still be achieved in a soft market?
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Ark has been adding new product lines across its three Lloyd’s syndicates.
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Jamie Smith joined Arch in 2018, taking on the senior underwriter role in 2022.
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The executive has run the MGA platform since its 2017 inception.
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Debbie Hobbs joined Miller in 2021 from EmergIn Risk.
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Michael Shen will be succeeded by deputy Camilla Walker.
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The carrier has been exploring launching into P&C organically or via acquisition.
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Brian Church has spent 20 years at Chubb.
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The group will join forces with SRG subsidiary Miles Smith.
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The European broker said a London wholesaler is the ‘missing piece’ of its strategy.
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Trade credit insurers are expected to respond with tighter buyer limits and stricter wordings.
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Manuel Perez will continue in his ongoing role as head of cyber for LatAm.
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Neil Ross was also appointed CUO for the broker’s MGA.
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White will join from Allianz trade, and Summers from Talbot.
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Plus, the latest people moves and all the top news of the week.
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Moretti has relocated to California from London.
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Willis claims at least two $1mn accounts were also unfairly lost to Howden.
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Incumbent Jane Warren will retire at the end of the year.
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The carrier has hired José David Jiménez García as managing director for Germany.
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Scott was most recently head of claims at MGA Geo Underwriting.
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The Ryan Specialty renewables MGA launched an international arm last year.
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Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026.
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Pryor-White founded Tarian Underwriting, which was sold to Corvus in 2022.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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The class offers affirmative coverage for gaps in traditional insurance policies.
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Alliant is in the process of moving the ~$1bn of business it places with Howden to other wholesalers.
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The underwriter has worked for Markel in Singapore since 2020.
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Samir Hemsi was CUO at Westfield Syndicate and sat on the firm’s board of directors.
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The newly united company has set out ambitions to double in size by 2030.
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Sources said Marsh Specialty UK growth leader Lizzy Howe will lead the operation.
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Jo Smart has worked for Torus and Aegis during his two decades in the market.
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West Hill Capital is the main investor in the capital raise.
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The aviation market has experienced a run of large losses this year.
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What’s driving the wave of shifting ownership structures in the Lloyd’s market?
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Stephan Simon left BMS in June 2024 after almost three years in the role.
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High capacity is adding to competition in the upstream energy space.
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The firm offered W&I cover with capacity of up to £16mn per transaction.
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The protection gap must be closed before a public cyber reinsurance scheme is possible.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Stephen Ridgers is leaving his current role as head of construction midcorp at Allianz Commercial.
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The pair have expanded remits overseeing property and specialty.
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Other MGAs in the transactional-liability class are also expanding into the US.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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Continental composite carriers aim to smooth volatility with new initiatives.
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Cyberattack/data breach remains in the top slot.
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Current backer JC Flowers will retain its holding and the cash will fund a Bermuda acquisition.
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New sources of capacity lack the expertise to service rapidly developing clients.
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Abbas Juma has spent more than seven years at Howden M&A in various senior roles.
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The upcoming Lloyd’s Lab cohort 16 will include a dedicated Irish theme.
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Several airlines are understood to have come to market early.
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The company will continue its capacity partnership with the MGA until 2030.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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Howden’s portion of the US retailer’s premium is in particular focus.
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The Lloyd’s investment business has cut expenses by 54% over the past six months.
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The deal will be watched closely by Radian’s handful of similar peers.
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Sean McGovern will step down from the role in December.
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Plus, the latest people moves and all the top news of the week.
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Small modular reactors are increasingly viewed as a means of meeting surging energy demand.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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After losing in the High Court, insurers pin their hopes on the Court of Appeal.
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The veteran underwriter said market conditions are still ‘robust’.
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This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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The Corporation’s chair reiterated its aim to reduce the cost of doing business.
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The London broker has also recently hired Michael Lohan from Lockton.
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Global pricing is now 22% below the mid-2022 peak.
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MGA Amiga Specialty launched in May, with backing from investor BP Marsh.
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The report highlighted the gap between insured and uninsured attacks is widening.
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The toll of risk losses sustained by the PVT market this year is mounting.
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Dale Underwriting recently pulled out of standalone offshore energy business.
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Lockton Re has predicted major growth in the global cyber insurance market.
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Plus, the latest people moves and all the top news of the week.
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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The acquisition furthers Howden’s expansion into the US retail space.
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The 2024-25 period has been the worst on record for claims, with costs of $775mn+.
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It said the loss did not reflect the underlying economic performance of the business.
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This publication revealed in February the incident was expected to lead to a major claim.
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The recent Iumi conference highlighted the impact of waning globalisation and tariffs.
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A decision in relation to who bears which legal costs will be reached at a later date.
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The carrier plans to reduce 623’s stamp by around 10% next year.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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Chris Eaton and Bill Moret gave their notice last week without specifying their destination.
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Vantage Group Holdings received a BBB- long-term issuer credit rating.
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Property remains the dominant line, accounting for nearly 30% of total London premiums.
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The executive joins from MSIG USA.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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Plaintiffs allege that manufacturers and retailers have broken environmental laws.
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The practice group will enhance the company’s existing offerings in E&S.
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The affirmations reflect Everest’s strong underwriting diversification.
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The carrier started writing construction in Lloyd’s following the acquisition of Probitas.
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Giles has spent more than five years at Themis Underwriting.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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The tech firm is building a joint stock company with insurers and investors.
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The Howden MGA established its marine presence in the Netherlands in 2023.
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Chilton founded Capsicum Re, which was acquired by Gallagher in 2020.
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The relationship between growth and capital is “symbiotic”, the broker said.
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Mark Connellan is the latest addition to Bassel Matta’s team.
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Former head of construction Bill Creedon will assume the role of chairman.
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Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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New capacity continues to flow into the hull market, despite rating pressure.
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An M&A senior analyst and M&A underwriter for emerging markets are also set to depart.
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Being conservative and stable is the name of the reinsurer’s game.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Despite high profile losses, there’s ample capacity in marine and aviation, while PV has seen healthy profits.
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The MGA has set a "new market benchmark" for non-US primary tax risk, it said.
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The vehicle will provide a streamlined route for capital to its client MGAs.
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The pair were offered contracts by Willis Re in July.
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Pine Walk has grown substantially and is on course to write $1.2bn of premium this year.
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Stefan Golling also said Munich Re’s appetite for agg covers was unchanged.
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The Argenta-backed MGA is already active in the cargo and property classes of business.
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It is understood that CyberCube has been considering a sale of the business.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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The Swiss carrier appointed a new global energy head earlier this week.
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Heyburn joins from Brit, where he was A&H class underwriter.
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Former Hannover Re CEO Jean-Jacques Henchoz received the Lifetime Achievement award.
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Rönesans covers lines including aviation, energy, engineering and liability.
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The carrier said the decision reflected its commitment to portfolio discipline.
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Lloyd’s reported reinsurance GWP increased 10.6% to £13.2mn.
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Growth in the SME sector could help stabilize the market, however.
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Syndicate 1440 was approved to assume business incepting January 2026.
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Apollo executives David Ibeson and James Slaughter are committed to the future as a combined entity.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.
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The LPPC will offer limits of $127.5mn EAR and DSU coverage in the US and Canada.
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Cyber reinsurance supply has continued to outstrip demand during 2025.
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In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process.
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The executive said claims can be a differentiator in a softening market.
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Donna Swillman is currently a senior underwriter at Axa XL.
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Sébastien Bardy joins from Allianz to lead the firm’s financial scale-up.
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The underwriter has over 20 years' experience in the construction insurance sector.
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The carrier is looking to take a lead position in energy-transition risks.
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Company said defendant ‘distraction’ can’t make up for flimsy arguments.
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Sources said the team is led by Martin Soto Quintus and is mostly based in Chile.
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The broker is in hiring mode in specialty after numerous brokers departed for Willis Re.
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Plus, the latest people moves and all the top news of the week.
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After spending 20 years at Aon, Goodman will start a senior executive position with Guy Carpenter.
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The broker has a longstanding trading relationship with US retailer Alliant.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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Paul Jeroen van de Grampel drove Aon's M&A and litigation solutions proposition.
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Submission volume is up 10%-20%, according to sources.
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The broker said it was achievable to place a $2bn vertical limit in the London market.
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He succeeds Felix Cassau, who is joining Hannover Re.
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A notable uptick in attendance underpins the value still placed on the iconic trading centre.
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The division reported revenue up 13.3% at A$465.9mn.
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Parrish, now Howden US CEO, and his colleagues said they didn’t violate contracts.
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Assurex’s global independent broker network pumps $4bn of premium into the London market.
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What happens when a global broker network decides to fill a gap in the London market itself?
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Patton Kline succeeds Glod as US aviation and space practice leader.
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The broker said 2026 will bring a “cautious but deliberate” aviation reinsurance environment.
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This publication revealed yesterday that the two were in detailed takeover talks.
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The news comes after the announcement of CEO Graham Evans’ departure.
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A key hearing in the poaching case is set for 4 September in New York.
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She was most recently claims manager at QBE France.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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The combined ratio worsened slightly by 0.5 points to 91.6%.
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Placement head Delchar said Gemini will be available across its global book of in-scope risks.
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There has already been an influx of new capacity from MGAs into the power market.
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The carbon-credit insurer has appointed James Morrell head of credit underwriting.
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The company was hit with a data breach on July 16.
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Plus, the latest people moves and all the top news of the week.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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The broker has been on an aggressive hiring spree overseen by Lucy Clarke.
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Peter Vogt will act as a strategic advisor at Axis until the end of 2026.
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Matthew Budd has over 30 years’ claims experience and previously worked for Talbot and XL.
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The overseas division booked a combined ratio of 94% for the quarter.
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Beth MacGregor and Adam Vulliamy are also set to join from Axis Capital.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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The insurer has substantially expanded its marine team in recent years.
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The London carrier missed consensus on gross and net premiums for H1.
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Brokers turn to harder classes, innovation, commissions and tech to soften the blow.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
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The airline has exercised a break clause to renew its cover six months earlier.
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Part of the syndicate’s premium for clinical-trial-funding cover will move to Syndicate 1902.
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In trying to solve multiple needs, specialty reinsurance opens up complexities.
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This publication revealed two years ago that EQT could lodge a $1bn claim.
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Rachel Sabbarton has been promoted to CEO at Lancashire Syndicates.
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The repricing on the broker’s $3.1bn term loan will save an estimated $8mn per year.
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The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
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Robert James is set to join the Bassel Matta-led team.
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Market leaders Atradius and Coface have both received in-principle approvals for a Lloyd’s syndicate.
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The Lloyd’s carrier is expected to try to claim multiple times under the policy.
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Philip Dalton succeeds partner Colin Hasler, who has retired after a 42-year career.
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Plus, the latest people moves and all the top news of the week.
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It is targeting low-risk specialty lines where it has a competitive edge.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The carrier reported an increase of 82% in pre-tax income.
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The underwriter left Navium Marine last year and before that worked at Atrium.
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The move will impact around $50mn of gross written premiums in total.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
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Duc Tu and Lucy Howard have resigned from Atrium.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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The specialty reinsurer also saw several bad investments hit the books.
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The broker said that there could be a flattening of rate decreases in the hull market in 2026.
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Arch will continue to provide long-term capacity for the MGA.
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The company has also expanded its relationships with US and UK MGAs.
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Verita leadership and staff will remain intact and “seamlessly functional”.
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The new team will be headed by Brown & Brown’s Ed Byrns.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
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The Canadian insurer saw property rates dip across its global divisions.
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Alistair Lester joins from Aon, where he has worked for the past eight years.
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DB reiterated that no final decisions have been made regarding a potential deal.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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Stacey Hinton and Max Elliot are set to join Ark from Markel International.
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In May, we revealed that Lockton's James Campbell is leaving for a role in HWF’s real estate team.
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Nicolau Daudt will become global specialty CEO, as previously announced.
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The claim could add pressure to the hull war market after a recent High Court ruling.
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Scor's CEO said the P&C market had experienced a “competitive” first half.
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The broker is looking to move as much of the book away from its adversary as possible.
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The broker has noted that double-digit reductions are increasingly available in property.
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The carrier had $20mn in reserve releases in the quarter, compared to nil in Q2 2024.
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The lawsuit claims more than 100 employees left with Parrish and his three reports.
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Matthew Flynn joins from RenaissanceRe.
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The firm has quadrupled its Ebitda since 2022.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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The search for a successor to lead Syndicate 1200 is underway.
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Demian Smith joins from Guy Carpenter.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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PE owner Livingbridge brought the broker to market two years ago.
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The former Everest executive has more than 30 years of A&H experience.
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Group CEO Tavaziva Madzinga said it might explore Lloyd’s Names backing in the future.
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Property rates declined by 7% globally in the second quarter.
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Jim Franson joins from Validus Re, where he was US president.
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Lucy Fraser has held roles at the ABI, and the City of London Corporation.
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Dart succeeds Andrew Carrier, who will retire at the end of the year.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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Some 185 credit claims were reported in the market, totalling over $400mn.
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Frank Masteling will lead the new business as head of trade credit.
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The broker’s planned US talent raid is in keeping with its audacious history.
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The carrier’s top line grew to $890m in the first half of 2025.
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Sources said MarshBerry is advising the underwriter.
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The MGA no longer has an FCA licence and was wound up in May.
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Underscoring a more competitive market, the structure includes an escalating premium.
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The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.
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Atradius Syndicate 1864 is expected to begin underwriting next year.
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The carrier has also hired Imogen Wright as underwriter marine and energy treaty.
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Tokio Marine GX was launched in May to offer coverage for companies looking to decarbonise.
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BI claims are notoriously difficult to manage and some insurers believe binary coverage can help.
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Fidelis, Liberty and Hive are among the insurers with the greatest exposure.
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Despite steep rate hikes, premium volume has held steady as players such as SpaceX self-insure.
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The carrier has appointed Roberts Proskovics as renewable energy risk management head.
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In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.
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Coface Lloyd’s Syndicate 2546 is expected to commence underwriting in 2025.
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The latest hires follow Rob Hale’s move to Willis.
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The broker made several senior energy hires from Marsh last year.
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The MGA has recently added casualty and specialty reinsurance divisions.
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The MGA has secured Lloyd’s paper to write crypto theft insurance.
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The company launched into the contingency market in the wake of the Covid-19 pandemic.
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The executive has spent 13 years in the broker’s marine division.
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Plus, the latest people moves and all the top news of the week.
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The MGA is expected to launch a product-recall portfolio in September.
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Claire Janaway is leaving the carrier after 19 years.
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The start-up aims to bind its first risk in Q4 2025.
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The insurer has hired Coface’s Hélène Martin to support its expansion.
