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Willis Re kicked off its talent acquisition with mass hiring from Guy Carpenter over the summer. -
APIP is one of the world’s largest property programs.
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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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Sources said he will join the reinsurance brokerage next year, after his garden leave expires.
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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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Reinsurers are willing to concede on pricing, while cyber interest is on the rise.
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Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.
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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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Howden is facing fallout from its push into the US retail market via mass hires.
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The sidecar was launched today by the Bermudian reinsurer and investment firm Carlyle.
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Sam Geddes will join Syndicate 1918 next year in an executive leadership role.
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The capital will provide retro cover for life-focused reinsurer Fortitude Re.
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Majority shareholder Fosun will continue to hold the remaining 86.7% of shares.
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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 London-based executive will relocate to Daytona Beach, Florida.
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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 syndicate says it will not set any top-line targets on digital follow strategies.
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EMEA CEO Laurent Rousseau said reinsurance must retain its relevance to investors.
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Munich Re is among the insurers with a stake in the German carrier.
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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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The broker will report to Howden US CEO Mike Parrish.
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The protection covers the US insurance book for the 2024 and prior accident years.
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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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Rachel Turk was speaking on an Aon Reinsurance Renewal Season panel.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The facility provides coverage for property, terrorism, energy, construction and utilities risks.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Ark has been adding new product lines across its three Lloyd’s syndicates.
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Rachel Webber was most recently head of non-marine at TransRe.
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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 report seeks to arm parliamentarians and policymakers with “practical tools”.
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Though wildfire losses are up, total losses are the lowest since 2015.
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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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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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The group will join forces with SRG subsidiary Miles Smith.
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Class actions and third-party litigation funding will drive up losses.
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The European broker said a London wholesaler is the ‘missing piece’ of its strategy.
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Mike Mulray joins from Everest, where he was EVP president of North America insurance.
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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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The international division is seeking a new London market manager.
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The London-based pair will report to commercial risk UK CEO Rob Kemp.
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The governor has yet to sign a pending bill to create a public cat model.
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Clear Blue originally filed the suit in late 2023, alleging reckless conduct and misrepresentation.
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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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The reinsurer plans to grow its US business at a higher rate than its non-US business.
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Carriers are rethinking the traditional renewal-rights model.
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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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Without flexible mechanisms the Corporation risks suppressing transactions.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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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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In July, he took the role on interim basis from Laure Forgeron.
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Property underwriters are ‘competing fiercely’ to access mining risks.
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The recruits will join from Nephila, Aon and Malaysian Re.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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The specialty insurer was recently acquired by Korean carrier DB Insurance.
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The carrier is planning a limited relaunch into the UK D&O market.
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The class offers affirmative coverage for gaps in traditional insurance policies.
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As both carriers and reinsurers deal with softening markets, all eyes are on hurricane-prone areas.
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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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It comes as the MGA expects to write more than $1bn of premium in 2026.
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The underwriter has worked for Markel in Singapore since 2020.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The carrier will pay special dividends only in exceptional circumstances.
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Samir Hemsi was CUO at Westfield Syndicate and sat on the firm’s board of directors.
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Joel Hodges will run the international business as managing director.
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Panellists at Insider Progress shared fixes for bias, confidence and culture.
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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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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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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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Volante launched Syndicate 1699 in 2021.
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Improved performance and growing investment returns played a role in the upgrade.
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The aviation market has experienced a run of large losses this year.
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Julia Graham played a key role in the UK's introduction of captive-friendly regulation.
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Inigo CEO Richard Watson said the team is ready for its “second album”.
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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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The executive has worked at Aon for almost two decades.
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Landa was part of the team lift led by Michael Parrish, who is CEO of the US retail arm.
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Stephan Simon left BMS in June 2024 after almost three years in the role.
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The facility will initially focus on US, Bermudian and European business.
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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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She previously served as Hub’s North American casualty practice leader.
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The Bermuda-based executive joined the Ardonagh Group’s reinsurance broking arm in March 2023.
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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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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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Current backer JC Flowers will retain its holding and the cash will fund a Bermuda acquisition.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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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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The BP Marsh-backed MGA launched earlier this year, led by Adam Kembrooke.
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Howden’s portion of the US retailer’s premium is in particular focus.
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The underwriter has worked at Hiscox, Lloyd’s, Chubb and Zurich.
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Legacy reinsurance deals will be reviewed by the Legacy Review Panel.
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Marlon Williams will focus on the placement of reinsurance and retro business.
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Tom Potter was global casualty underwriting manager for UK & Lloyd’s at Axa XL.
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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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The hire comes as Guy Carpenter fills the void created by the Willis Re raid earlier this year.
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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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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The rating action follows the upgrade of Italy's sovereign rating earlier this month.
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He will spearhead the division’s launch slated for 2026, which will be the first product launch for ICW Group’s specialty unit.
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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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IAG completed its takeover of RACQ last month.
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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The executive met with UK colleagues to discuss plans for the US business.
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The change in reinsurance intermediary follows an RFP for the account.
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Dale Underwriting recently pulled out of standalone offshore energy business.
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The major storm is set to move on to mainland China later in the week.
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The economic loss from the event was around EUR7.6bn.
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The move comes as the broker rebuilds its Bermuda team.
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The low degree of overlap between the combining portfolios benefits both parties.
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Lockton Re has predicted major growth in the global cyber insurance market.
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The Bermuda reinsurer has been active in ILS since launching in 2007.
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Plus, the latest people moves and all the top news of the week.
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Louis Tucker helped establish Barbican Insurance, which was later sold to Arch in 2019.
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How does Lloyd’s plan to secure its future as a leading global marketplace?
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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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Alessa Quane will report to Sompo P&C CEO James Shea.
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The 2024-25 period has been the worst on record for claims, with costs of $775mn+.
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Inigo executives told Insurance Insider last year they were weighing up the casualty treaty market.
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The deal marks the latest step in Catalina’s shift from P&C to life run-off.
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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 ILS manager has $6.8bn in assets and will be led by MariaGiovanna Guatteri.
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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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The measures also seek to encourage greater wildfire mitigation efforts.
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The combined casualty treaty team has also made a number of hires.
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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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The sidecar will support five programs providing specialty frequency coverages.
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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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Her predecessor will become head of US excess casualty and operations.
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Reinsurer executives stressed that the industry worked hard on setting the right structure.
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The executive joins from MSIG USA.
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The assistant treasurer is also due to review the Australian cyclone pool.
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Ariel Berman joined the company as head of specialty in 2023.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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The business said it was experiencing strong momentum on the Island.
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Ex-Western Europe CRB head Alberto Gallego and colleagues left for a Marsh joint venture.
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Plaintiffs allege that manufacturers and retailers have broken environmental laws.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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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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Losses were primarily driven by personal property lines.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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He was appointed CUO of casualty, Americas, in July last year.
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The tech firm is building a joint stock company with insurers and investors.
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The new recruit will report to group CUO Ian Houston.
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Nick Fallon is the latest in a string of retro-broker moves in the market.
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The Howden MGA established its marine presence in the Netherlands in 2023.
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The new division will be led by Terry Fitzgerald, who has previously led the finpro portfolio.
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Chilton founded Capsicum Re, which was acquired by Gallagher in 2020.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s US and Europe claims teams will report to Clayden.
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The platform aims to “bend the loss curve”.
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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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A roundup of the breaking news, C-suite interviews and exclusive insights.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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The syndicate is targeting capital allocation for 1 January, the company confirmed.
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Climate risk challenges conventional underwriting wisdom but also brings new opportunities.
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Blackstone-style capital seeking to get closer to source is a net negative for reinsurers.
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Cedants target methods of reducing pressure on earnings as reinsurers chase growth.
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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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Bill Bouvier has spent more than three years at the legacy firm in this role.
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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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The syndicate will be targeting approximately $50mn of GWP in its first year.
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Sources said that the carrier has held preliminary talks with private debt investors.
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Geopolitical turbulence brings new challenges that primary specialty lines carriers urgently need to address.
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Being conservative and stable is the name of the reinsurer’s game.
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Apollo most recently received in-principle approval for Syndicate 1972.
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Scale is increasingly becoming a differentiator for reinsurance carriers, the broker noted.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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The broker’s joint venture with Bain Capital still lacks a CEO.
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The private ILS segment took losses from LA wildfires and Mid-West severe convective storms in H1 2025.
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The sector recorded total premiums written in London of £11.9bn in 2024
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The insurer’s plans for the syndicate were revealed by this publication earlier this year.
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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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Litigation funders are promoting “aggressive” tactics in the UK, Holland and Israel.
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Reinsurers and their cedants are feeling their books are in better shape, although the market is still uneven.
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The vehicle will provide a streamlined route for capital to its client MGAs.
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The company, however, sets a high bar on making a move.
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Hannover Re Capital Partners is in talks with two investors for 1 January launch.
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The pair were offered contracts by Willis Re in July.
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The former Hannover Re CEO said reinsurers must use alternative capital and tech.
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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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One of the options being explored is setting up a dedicated company for the wholesale vertical.
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Earnings covers do not need to equal aggregate reinsurance deals, the broker said.
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Anticipation, motivation and inspiration are central to effective implementation.
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Reinsurers are ready to draw a line under a worsening claim outlook across the casualty market.
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The carrier M&A cycle has started and reinsurance is a segment where acquisitions work better.
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A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.
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CEO Thierry Léger also stressed his intention to repair the carrier’s relations with Covea.
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Stefan Golling also said Munich Re’s appetite for agg covers was unchanged.
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The reinsurer is moving all its non-cat business to the new syndicate, leaving 1910 focussed on peak cat.
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The Argenta-backed MGA is already active in the cargo and property classes of business.
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Swiss Re forecasts more risk transferring to reinsurance and retro markets in the future.
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Rafael Diaz, Tiara Elward and Felipe Murcia will join BMS’s LatAm and Caribbean unit.
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The post-disaster reinsurance start-up model is changing.
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Excess capacity will sustain softer rates, as organic growth challenges lead to more M&A chatter.
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Reinsurance CEO Wakefield said reinsurance structures may evolve for prolonged growth.
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Agency reactions ranged from Fitch revising down its sector outlook to AM Best keeping a positive outlook.
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Terms are expected to hold, underpinning the stronger recent performance of reinsurers.
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The CEO said the AHJ acquisition brought a ‘step change’ to Miller’s reinsurance growth.
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The reinsurer’s new CEO said he sees no need for a radical shift in strategy.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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The departure follows an investigation into an “offensive” email sent by Rouse.
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It is understood that CyberCube has been considering a sale of the business.
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Rates will remain elevated in a period of structurally higher risk premia.
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Ryan Alternative Capital Re was launched in partnership with Axis Capital.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Mark ‘Ollie’ Hollingworth has held his current role at Atrium since 2017.
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Paul Sandi, head of reinsurance, will serve as active underwriter for the new syndicate.
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Maintaining underwriting discipline was central to the Corporation's messaging.
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The California wildfires showed reinsurers can absorb major cats and remain profitable.
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What’s next for the reinsurance market as Monte Carlo approaches?
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The insurer has been under review with positive implications since March.
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It was announced this week that the business had agreed to be acquired by Skyward Specialty.
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The treaty underwriter is set to run an MGA within the group.
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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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Rachel Turk said product-line facilities had been “under-scrutinised”.
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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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The cycle-turn M&A story continues with strategic buyers to the fore.
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Gross written premium was up 6% year on year.
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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 executive most recently served as head of North American treaty reinsurance.
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The executive has worked at RFIB, Benfield and Guy Carpenter during his 30-year career.
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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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CEO Tom Wakefield said property cat supply is “materially outpacing demand”.
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Donna Swillman is currently a senior underwriter at Axa XL.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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Farnworth will also chair the carrier’s audit committee.
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The data modeling firm said losses previously averaged $132bn annually.
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The ratings agency warned negative PYD on US casualty will likely continue.
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Signs of discipline indicate a “break” from past boom/bust market cycles.
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Some 32% of survey respondents expect property cat rates to fall by more than 7.5%.
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The deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.
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Strong CoRs and investment returns supported profitability in H1 2025.
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Sébastien Bardy joins from Allianz to lead the firm’s financial scale-up.
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The Japanese carrier faces integration challenges to make a success of the deal.
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The underwriter has over 20 years' experience in the construction insurance sector.
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The deal ends Livingbridge’s two-year attempt to sell the UK broking/MGA platform.
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The carrier is looking to take a lead position in energy-transition risks.
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Henrietta Butcher leaves Tysers after decades with the broker.
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Ratings agency said the Sompo deal could have positive financial and operational benefits for the Bermudian.
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James River said the court was right to dismiss the fraud case.
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Company said defendant ‘distraction’ can’t make up for flimsy arguments.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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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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Group CEO Mikio Okumura cited “solutions that have not been fulfilled”.
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Plus, the latest people moves and all the top news of the week.
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Sources see Aspen as the right fit for Sompo, with Apollo getting a full cash exit.
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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 reinsurance veteran joined Aon nearly 20 years ago from Cooper Gay.
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The executive will buy reinsurance for HDI and Talanx’s corporate unit.
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The broker has a longstanding trading relationship with US retailer Alliant.
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Rates are bottoming out, but ample capacity is still preventing a hardening market.
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Angus Hampton, meanwhile, has been promoted to head of casualty in place of Mario Binetti.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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Last year marked the second consecutive year in which carriers made a positive return.
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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 ILS play will make the business more capital efficient under new owner Sixth Street.
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Hagood will stay on as sole CEO of Nephila Holdings, with Taylor continuing as president.
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The broker said it was achievable to place a $2bn vertical limit in the London market.
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Lawmakers are seeking input on risk evaluation, limits and other concerns.
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The group claims the White House is undermining disaster preparedness.
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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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Equidad earlier sold its soccer team to group of US investors that includes actor Ryan Reynolds.
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Parrish, now Howden US CEO, and his colleagues said they didn’t violate contracts.
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The Bermudian reiterated its pledge to improve performance.
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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 US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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The broker said 2026 will bring a “cautious but deliberate” aviation reinsurance environment.
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
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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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Worsening trading conditions in the D&O market are leading to staff cutbacks.
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She was most recently claims manager at QBE France.
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US retailers have various levers to pull to put pressure on potential new competitors.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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Bartlett is the latest in a series of talent moves in the construction market.
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The deal comes amid heightened interest in German distribution assets.
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The combined ratio worsened slightly by 0.5 points to 91.6%.
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The mid-year renewals point to mounting pressure on reinsurance pricing.
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The deal was announced last month.
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Claude Wade is to step down from his role to address ongoing health issues.
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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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Candy Wong spent 30 years at Aon Re China before a stint at Guy Carpenter.
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This is the first rate filing to use the recently approved Verisk model.
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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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Top line grew across all carriers even as pre-tax profits dipped.
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The move is a retaliation to Howden’s US retail launch.
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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 CEO said the carrier will prioritise margin over top-line growth.
-
The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
-
Covea had requested a stay in the proceedings.
-
Nat-cat events triggered A$1.36bn of losses during the year.
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The overseas division booked a combined ratio of 94% for the quarter.
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As rate reductions present headwinds, firms are expected to moderate expansion.
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Beth MacGregor and Adam Vulliamy are also set to join from Axis Capital.
-
The P&C division booked a combined ratio of 81.1% for the first half of 2025.
-
The carrier also reported a slightly improved combined ratio of 94.6%.
-
Net adverse development for the quarter increased 30% year on year to $89.2mn.
-
Company alum David Murie will lead the new business unit.
-
The insurer has substantially expanded its marine team in recent years.
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Simon Clegg will leave Syndicate 609 after 25 years.
-
The London carrier missed consensus on gross and net premiums for H1.
-
The carrier’s profit grew 34% for the year to A$1.35bn.
-
Brokers turn to harder classes, innovation, commissions and tech to soften the blow.
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Layla O’Reilly and Mark Edwards are among the brokers leaving the firm.
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The announcement comes a week after the institutional investor said it would accelerate its pivot to an insurance-led strategy.
-
The airline has exercised a break clause to renew its cover six months earlier.
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The estimate covers property and vehicle claims.
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Part of the syndicate’s premium for clinical-trial-funding cover will move to Syndicate 1902.
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The executive has worked for JLT Re, Lockton Re, Willis Re and US Re.
-
The Hannover Re CEO said rate adequacy remains “attractive” overall.
-
In trying to solve multiple needs, specialty reinsurance opens up complexities.
-
California wildfires were the reinsurer’s largest H1 loss, at EUR615.1mn.
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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.
-
A number of staff will be leaving the D&O team as a result of the restructuring.
-
The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
-
Robert James is set to join the Bassel Matta-led team.
-
He joins from MS Amlin, where he was lead underwriter for US casualty.
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Market leaders Atradius and Coface have both received in-principle approvals for a Lloyd’s syndicate.
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Both organisations still predict an above-average hurricane season.
-
Tom Hester joined the broker in 2018 as SVP.
-
The Lloyd’s carrier is expected to try to claim multiple times under the policy.
-
Philip Dalton succeeds partner Colin Hasler, who has retired after a 42-year career.
-
The carrier cited elevated cat and large-loss activity, including the LA wildfires.
-
The reinsurer chair said the frequency of losses today “will prevent prices from slipping too much.
-
Plus, the latest people moves and all the top news of the week.
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The P&C re segment’s combined ratio improved by 12.7 points to 61.0%.
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It is targeting low-risk specialty lines where it has a competitive edge.
-
The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
-
The carrier reported an increase of 82% in pre-tax income.
-
The forecast has increased since the early July update due to several additional factors.
-
The underwriter left Navium Marine last year and before that worked at Atrium.
-
The move will impact around $50mn of gross written premiums in total.
-
The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
-
The Swiss carrier improved its P&C combined ratio by 1.2 points to 92.4%.
-
More investment in early stage firms is an indicator of bullish market, says Gallagher’s Johnston.
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Cat losses of $1.5mn, net of reinsurance, were primarily due to severe convective storms.
-
Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
-
Duc Tu and Lucy Howard have resigned from Atrium.
-
This publication reported yesterday that Talanx was closing in on the sale.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
-
CEO Alex Maloney said Lancashire’s growth was “more measured” amid softening.
-
Natural catastrophe claims remained consistent compared with the prior year.
-
The loss was driven by nat cats and reserve adjustments in US casualty.
-
California wildfires account for $40bn of the insured loss tally in H1.
-
Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
-
The carrier said most lines remained well priced despite increased competition.
-
Prior-year reserve development moved to a $6.3mn charge in Q2 from a $19.3mn release a year ago.
-
With roughly 200 employees, the South American operations generated over EUR130mn in 2024 GWP.
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The company also purchased $15mn of SCS parametric coverage.
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The specialty reinsurer also saw several bad investments hit the books.
-
The broker said that there could be a flattening of rate decreases in the hull market in 2026.
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The executive has spent more than three decades in insurance.
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Arch will continue to provide long-term capacity for the MGA.
-
The LMA head also praised Velonetic for transparency on Blueprint 2.
-
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 newly created role consolidates leadership across UK entities.
-
The carrier also benefitted from favourable reserve development in property and A&H.
-
The new team will be headed by Brown & Brown’s Ed Byrns.
-
The underwriter was head of financial institutions at LSM for six years.
-
Matthew Doherty joined the reinsurer in 2018 as SVP, property portfolio manager.
-
Cat portfolios generally grew, but casualty approaches varied.
-
The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The executive joined Navigators in 2010 after eight years at White Mountains Capital.
-
The Canadian insurer saw property rates dip across its global divisions.
-
The business posted a 95.2% undiscounted combined ratio.
-
Alistair Lester joins from Aon, where he has worked for the past eight years.
-
Plus, the latest people moves and all the top news of the week.
-
The transaction is expected to have a price-to-earnings multiple of 11x.
-
Aviation reinsurance reserving issues will also be a broader focus for the market.
-
AJ Gallagher has responded to a request for additional information under the HSR filing.
-
The French carrier’s first-half revenues were driven by 6% growth in P&C.
-
The model becomes the second in the state to get approval to affect ratemaking applications.
-
A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.
-
The Miami-based executive assumes the role left vacant by April McLaughlin.
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DB reiterated that no final decisions have been made regarding a potential deal.
-
The executive was previously head of excess casualty, North America.
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Q2 saw a steady stream of activity in legacy, but volumes dipped slightly from Q1.
-
The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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WTW is “particularly interested” in growing markets like wealth management with bolt-on M&A.
-
Stacey Hinton and Max Elliot are set to join Ark from Markel International.
-
Specialty casualty now accounts for around 22.2% of its insurance business mix.
-
The vehicle will support Ascot’s casualty business in the US and Bermuda.
-
In May, we revealed that Lockton's James Campbell is leaving for a role in HWF’s real estate team.
-
Nicolau Daudt will become global specialty CEO, as previously announced.
-
The claim could add pressure to the hull war market after a recent High Court ruling.
-
Scor's CEO said the P&C market had experienced a “competitive” first half.
-
The firm will target mid-market risks with TIVs of $25mn-$1bn.
-
Nationwide will delegate management of the policies to Ryan Specialty.
-
Sources have identified facilities as a different source of rising commissions.
-
The P&C segment posted an 82.5% combined ratio for the quarter.
-
Everest booked $98mn of aviation losses related to the war, which contributed 2.5 points to the consolidated CoR.
-
The Bermudian said its pursuit of SMEs through M&A will provide sustainable improvements to its bottom line.
-
The broker is looking to move as much of the book away from its adversary as possible.
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The company provides management workflow for residential contractors.
-
Pricing was “virtually flat” in the second quarter.
-
The CEO said business remains adequately priced in most classes.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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The broker has noted that double-digit reductions are increasingly available in property.
-
The carrier said market dynamics were shifting due to increased capacity.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
-
The loss ratio rose 1.9 points to 53.1%, while the expense ratio ticked up 0.6 points to 28.1%.
-
The carrier had $20mn in reserve releases in the quarter, compared to nil in Q2 2024.
-
This brings the carrier’s total limit on the program to $1.8bn.
-
The lawsuit claims more than 100 employees left with Parrish and his three reports.
-
The legacy player is working to secure its first deal, and could look to expand to US E&S.
-
Matthew Flynn joins from RenaissanceRe.
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The firm has quadrupled its Ebitda since 2022.
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Insured losses produced the second highest first-half tally since records began in 1980.
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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 carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.
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The facility was previously for commercial risk clients.
-
The UK carrier will write business that falls in the scope of the FSCS.
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The broker has recruited from its rival as it looks to launch Willis Re 2.0.
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The search for a successor to lead Syndicate 1200 is underway.
-
The reduced fine reflected the PRA view that the breaches weren’t deliberate.
-
North American carriers completed the most transactions in the first half of 2025.
-
Goldman Sachs and Cinven have also participated in the German broker’s sale process.
-
Demian Smith joins from Guy Carpenter.
-
The figure updates an April estimate of EUR696mn.
-
The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
-
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 broker’s EPS beat consensus at $3.49 for the quarter.
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The former Everest executive has more than 30 years of A&H experience.
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Wind season remains an important variable, but also might not change current dynamics significantly.
-
Jill Beggs was most recently COO for reinsurance.
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The reinsurance unit’s combined ratio for the quarter was 94.2%.
-
Doan Nguyen-Huu also succeeds Claudia Valencia Lascar as unit head.
-
Group CEO Tavaziva Madzinga said it might explore Lloyd’s Names backing in the future.
-
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.
-
Lucy Fraser has held roles at the ABI, and the City of London Corporation.
-
Dart succeeds Andrew Carrier, who will retire at the end of the year.
-
Improved book value, a healthy CoR and disciplined underwriting mark the CEO’s time at the helm.
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The property segment reported a CoR of 27.4% for the quarter, down 26.5 points year on year.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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CFO Christoph Jurecka will succeed as management board chair.
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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.
-
The agreement is the second service contract the group has taken on.
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The Asta-managed syndicate aims to commence underwriting later this year.
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The broker’s planned US talent raid is in keeping with its audacious history.
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The insurer denies it is responsible for the actor’s legal fees.
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The carrier’s top line grew to $890m in the first half of 2025.
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The broker has nearly 20 years of experience in the reinsurance and retro markets.
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Sources said MarshBerry is advising the underwriter.
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Incumbent Oskar Buchauer is stepping down after 27 years.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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The MGA no longer has an FCA licence and was wound up in May.
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The former Lloyd’s CEO is also eligible for a target $5mn annual equity award.
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The carrier reported preliminary profits of EUR2.1bn, driven by “very low” major-loss expenditure in P&C re.
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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.
-
The carrier has also hired Imogen Wright as underwriter marine and energy treaty.
-
Alcor has also opened an Atlanta office, broadening operations in the US market.
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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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Laure Forgeron has worked at the Swiss carrier since 2009 in numerous senior positions.
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Fidelis, Liberty and Hive are among the insurers with the greatest exposure.
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The medical professional liability firm is targeting further healthcare opportunities.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
-
The broker said the appointments are designed to drive growth.
-
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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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
-
The medical liability carrier said the deal marks a strategic shift.
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SiriusPoint will provide 100% capacity for Pen’s international PI portfolio.
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Questions remain over regulatory touch, capital requirements and tax benefits
-
The suit claims billions of dollars are being illegally withheld.
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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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Peter Cordell will join Syndicate 1729 in January.
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John Neal was due to start at Aon as global reinsurance CEO in September.
-
Dual’s Luke Browne will join Consilium Risk Solutions.
-
The broker made several senior energy hires from Marsh last year.
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The US accounted for 92% of all global insured losses for the period.
-
Continued Apax and Carlyle support will give PIB time to differentiate its business.
-
The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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US events accounted for more than 90% of global insured losses.
-
The MGA has also appointed Probitas alumnus Kiran Wignall.
-
The MGA has recently added casualty and specialty reinsurance divisions.
-
The MGA has secured Lloyd’s paper to write crypto theft insurance.
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A second syndicate is being explored for “big and bold” new lines
-
State legislation has led to major strides in rate adequacy.
-
The company launched into the contingency market in the wake of the Covid-19 pandemic.
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Category 4 and 5 storms could become more common and hit further north.
-
The executive has spent 13 years in the broker’s marine division.
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Last year, the firm obtained a Class 4 license in Bermuda.
-
Dan Prince said the firm will work with brokers’ existing relationships.
-
Plus, the latest people moves and all the top news of the week.
-
The MGA is expected to launch a product-recall portfolio in September.
-
Claire Janaway is leaving the carrier after 19 years.
-
Apax and Carlyle will continue to back the broker consolidator.
-
The start-up aims to bind its first risk in Q4 2025.
-
The insurer has hired Coface’s Hélène Martin to support its expansion.
-
In the US, the index fell 6.7% year on year.
-
Emilie Hungenberg joins the carrier from Aspen.
-
Despite predicting fewer hurricanes, the numbers are still above average.
-
The MGA will write natural resources professional liability business.
-
Andrew Creed has been promoted to group president in addition to his role as group CFO.
-
Luke Tanzer is set to retire after 16 years at the helm of the run-off carrier.
-
Volante joins capacity providers Allianz and Tokio Marine Kiln.
-
Renewable energy premium written in London and international markets amounts to $2bn.
-
Syndicate 1947 is gearing up to expand its marine reinsurance portfolio.
-
The Cathal Carr-led carrier has been building its team since launching this year.
-
Ondine Bourrut Lacouture succeeds Simon Williams, who had been in the role since 2019.
-
The new roles will oversee property, specialty and credit.
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The business is one of the first to sell in this round of Lloyd’s M&A.
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Demand and growth opportunities remain ample despite competitive pressures.
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Parent Aventum said co-CEO Paul Richards remains with the business.
-
The executive previously held roles at Capgemini, The Hartford and AIG.
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The weather-modelling agency is predicting a below-normal season.
-
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He will succeed incumbent president Kadidja Sinz.
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Arturo Pelaez will continue in his managing director role at Brookfield Asset Management.
-
Sources said the downstream energy market is unlikely to turn a profit in 2025.
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Partner Neo Combarro announced his departure on LinkedIn in May.
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Marsh’s property book saw an average decline of 9% in Q1, a trend that appears to have continued through Q2.
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The Bermudian investor already owned a 1% interest in the NY-based MGA platform.
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Willis has been adding brokers to its aviation unit in Europe and the US.
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The availability of capacity remains the market’s key driver, the broker said.
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Bridges had been at QBE for 17 years.
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The claims specialist spent 30 years at Amlin before joining TFP.
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The former Hiscox Re & ILS specialty underwriter starts on 7 July.
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Rates continue to drop as capacity is ample, the broker said.
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Plus the latest people moves and all the top news of the week.
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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Clients are increasingly using captives because of uncertainty around long-term capacity commitments.
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The cyber business will continue to operate as a standalone entity.
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Carriers expect a rise in the severity and frequency of claims over the next two years.
-
The carrier has entered several new classes recently, including specie and reinsurance.
-
The MGA has been through a remedial exercise under Acrisure’s ownership.
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The unit will include both ocean and inland marine coverage.
-
The late March storm caused extensive damage in southern Quebec and Ontario.
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The take-private deal was announced in July 2024.
-
The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
-
The claim hits the downstream market following a loss-hit start to the year.
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It is the second deliverable of the FIT Transition Plan Project.
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The new chair said the market must adapt for 2030 and beyond.
-
The FCA is reviewing how it can simplify regulation for commercial insurers.
-
The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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The $2.6bn deal provides Ergo with an entry point to the US SME market.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
-
The changes affect operations in Switzerland, Bermuda and the US.
-
Separately, Caribbean market head Janine Seifert is leaving the reinsurer for BMS Re.
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The managing agency is offering 62p per £1 for 2026 YoA capacity.
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The international casualty director has worked at Axa XL, Ive and Ardonagh.
-
He was most recently Marsh’s US manufacturing and automotive practice head.
-
The executive brings more than 25 years of insurance experience.
-
The broker has expanded the number of global industry verticals to seven from four.
-
The soft market continued through H1 2025, especially on shared programs.
-
The company resumed work on a public offering in September.
-
The LA wildfires accounted for 59% of loss activity over Q1.
-
Gallagher Re’s Lara Mowery said mid-year renewals marked the “beginnings of capacity” emerging.
-
Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said.
-
The executive told this publication he will have more time “to propel” embedded auto MGA In The Car.
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The company said the reduction was due to years of steady improvements.
-
Premium rose across the top 15 P&C risks in 2024.
-
Richardson has been with the firm since 2015 and was most recently vice chair and chair of international.
-
The programme’s total limit this year is down $594mn to $1.36bn.
-
The broker noted a “significant variation” in renewal outcomes.
-
Niala Butt joins from CNA Hardy, where she was casualty claims manager.
-
The measure could have landed insurers with extra tax on US business.
-
The aerospace, energy and marine markets all sustained multiple significant losses in H1.
-
The deal puts an equity value of £275mn on the broking firm.
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The ruling comes as insurers face growing legal pressures following the January blazes.
-
There are now 14 new companies writing homeowners’ policies in the state.
-
The broker built out Lockton Re’s US casualty and professional lines treaty book.
-
Andrew Pryde succeeds Andreas Kull, who will stay on until September.
-
There has been an uptick in UK retail firms buying cyber after a string of attacks.
-
Plus, the latest people moves and all the top news of the week.
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Is the ransomware threat really getting worse – or just more visible?
-
Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
-
Willis’ continued reinsurance build-out has targeted London and Bermuda marine and retro specialists.
-
The event was co-hosted by The Fidelis Partnership and IDA Ireland.
-
There is a growing disconnect between risk and pricing in the class.
-
It has been a volatile week for the marine war market in a period of geopolitical turmoil.
-
Last month, Combarro announced his exit on LinkedIn after 17 years at Lockton.
-
The facility, backed by six global cyber insurers, offers limits of as much as EUR5mn.
-
Insight into the state of the insurance M&A market, powered by this publication's deal database.
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The new unit – Ceded Re – will operate under the leadership of Guy Van Hecke.
-
The Atrium-led cover renews after the multi-billion-dollar High Court ruling.
-
The carrier is expanding its appetite for sustainable construction of large commercial buildings.
-
In North America, the median W&I claim payment in 2024 was $5.5mn, the highest on record.
-
David Turner previously spent more than 30 years at Amlin.
-
Errors and omissions claims made up 55% of all notifications, continuing a five-year trend.
-
MillerBoost is the latest broker facility to launch in London.
-
Although US pricing is improving there is pressure in other geographies.
-
The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
-
Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.
-
CFO Jane Pool will also leave the company as Aviva takes over.
-
The underwriter has worked for RiverStone, Advent, Lloyd’s and AIG.
-
The platform will capture and standardise data from all submissions, the broker said.
-
The firm believes UK support for policyholders is under-served compared with the US.
-
SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
-
R&Q Gamma’s outstanding liabilities predominantly relate to the UK P&I Club.
-
The underwriter joined MS Amlin in 2020 after more than 24 years with Markel.
-
Air India has a multi-year insurance arrangement in place.
-
Plus, the latest people moves and all the top news of the week.
-
-
The appointments are pending regulatory approval.
-
The carrier’s president Andrew McMellin is aiming to double London market share in the next five years.
-
The carrier said the cuts will help it to become a “simpler, digital-led business”.
-
The executive previously spent 15 years in a variety of roles at Zurich.
-
Allstate attributed the bulk of its losses to three major wind and hail events.
-
There has been significant talent displacement in the specialty reinsurance market.
-
The Beazley CUO said geopolitics would determine cyber market pricing.
-
Miller recently strengthened its reinsurance proposition with the acquisition of AHJ.
-
Henk Bijl joins from Aon, where he has worked for the last 25 years.
-
Lloyd’s chair said attractive returns were the “essential bedrock” of performance.
-
The carrier is launching a dedicated auto-follow unit within its DA practice.
-
Coverage has broadened while limits have increased, the broker said.
-
The company has also promoted Alex Baker and Tim Duffin.
-
Western insurers do not insure Iranian risks, with the country subject to sanctions.
-
The start-up has hired four people to join the division.
-
The £3.7bn deal was announced in December.
-
This is up from last year’s $1bn protection for its Florida treaty.
-
Some segments are moving faster than anticipated, but overall, it remains a mixed bag.
-
Holschneider co-founded the firm and is currently executive chairman.
-
The executive was formerly the head of cyber solutions, North America.
-
The carrier has scaled up its international insurance offering in recent years.
-
The reinsurance division booked 29% growth for the fiscal year to 30 April 2025.
-
There is the prospect of fragmented appeals and uncertainties around reinsurance recoveries.
-
Volante’s syndicate may still support select transactional liability risks, but it will not have an in-house team.
-
The managing agent for Syndicate 609 has been involved in an M&A process this year.
-
Peter Montanaro retired from his role as market oversight director at Lloyd’s in May.
-
Nick Line has spent 28 years at Markel, where he has been CUO since 2018.
-
Phil Furlong has been made head of underwriting and oversight, a newly created role.
-
Working out ROI on sponsorship deals is difficult, but the sport is beloved by insurance brands.
-
CEO Caroline Wagstaff called for a “tailored and proportionate” approach to regulation.
-
The executive brings nearly 30 years of liability experience to the role.
-
Logue replaces Richard Barke, who is moving to a senior leadership role at Asta owner Davies.
-
Sources told this publication the hull of the aircraft is valued at $80mn.
-
Rachel Bardon will also join the board of Compre's Bermuda-based reinsurer Pallas Re.
-
Neil Nimmo was CEO and chairman at Lockton International for more than 16 years.
-
The protection gap is calling into question the relevance of the insurance industry.
-
In April, the loss modeller pegged losses at A$2.57bn.
-
Howden recently expanded in South America with the takeover of Contacto and Innova Re.
-
The carrier said it is disappointed with the English High Court’s decision.
-
The UK High Court has ruled in favour of lessors in the multi-billion-dollar dispute.
-
The deal marks SFMI’s third investment in the group since 2019.
-
The documents figure in a potential criminal case against a CCB employee.
-
The Bermuda-based team is led by John Fletcher.
-
The trend is expected to be most pronounced in the Middle East, the survey found.
-
Argo shelved the sale of its Bermudian insurance business in mid-2024.
-
The appointment follows B&B’s acquisition of Accession.
-
The deal multiple is understood to be around 15x adjusted Ebitda.
-
The executive’s career includes a stint as head of cat for CorSo.
-
The association said privacy should be a key consideration in new requirements.
-
The investor reported a total shareholder return of £101.2mn for 2024.
-
Case added that recently acquired broker NFP has “exceeded” expectations.
-
The broker is launching a reinsurance arm in partnership with Bain Capital.
-
The reinsurer has also appointed Mehdi Benleulmi as global head of credit.
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Tovah Grosscurth replaces Sonya Bryson, who has left the commercial lines business.
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The London market is not expected to shoulder the bulk of the eventual loss.
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The man is alleged to have conspired with others to falsify LOCs and collateral letters.
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Plus, the latest people moves and all the top news of the week.
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The loss has decreased by 0.3% since the company’s third assessment.
-
The new Lloyd’s chief of market performance also outlined target growth areas.
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The merger is on track to close in H2 2025, CEO Pat Gallagher said.
-
The number has expanded by around 40% from an earlier update, sources said.
-
Saul Nagus is the latest from Marsh’s aviation unit to join WTW.
-
The modeller said the insurance market could be exposed to unexpected aggregations.
-
The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
-
The increased tariff on China trade could drive up the loss quantum on the SharkNinja recall and others.
-
Jim Meakins is the latest in a slew of talent to exit from the syndicate.
-
Robert Vetch joined the Lloyd’s business as CFO in 2019.
-
BP Marsh has subscribed for a 49% shareholding in the start-up MGA.
-
The PE firm’s Aaron Cohen said full integration of broking assets is crucial.
-
Ed Short was previously VP, digital partners, at Arch.
-
Corporates buying Lloyd’s syndicates face the culture/integration trade-off.
-
Eric Seyfried and Glen Manjos are also departing Axis’ cyber and tech unit.
-
The MGA has built out a suite of products, including a planned launch into political violence.
-
William Soares moves from casualty and specialty CUO to president.
-
The campaign will run throughout June.
-
Analysts were interested in the potential for fee income from the retail division.
-
HCI secured three towers with $3.5bn in XoL coverage.
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Muñoz was also Aon Re chairman for the Latin American region.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
-
David Baldwin joins from EIRS where he was a senior reinsurance consultant.
-
The executive will remain CEO of reinsurance until 1 September.
-
Chris Jones told this publication his plans for the first six months of his tenure.
-
The driver of growth has shifted from rate to volume, as pricing increases tail off.
-
Jack Kenneally will take on the role of class underwriter at the MGA.
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This year is predicted to be an above-average season, like 2024.
-
The $2.59bn renewal is up 45% from last year.
-
The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
-
Frustration is growing around a promised independent operating model and staff reward.
-
Lee Mooney will replace Neil Galjaard, subject to regulatory approval.
-
The Floridian also secured $352mn of multi-year coverage extending to 2027.
-
The company also has $100mn for US hurricane events.
-
Last week, TSR updated its forecast and is now predicting above-average storm activity.
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The total cost excluding a 15% quota share was $201.85mn, with rates down 12.2% from last year.
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Plus, the latest people moves and all the top news of the week.
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Most of the losses are attributable to a supercell storm in Texas.
-
What’s next for Conduit Re’s strategy following a leadership shake-up?
-
The executive replaces Mike Warwicker, who left the firm earlier this year.
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A 20% increase in FHCF retention levels sent cedants to the private market.
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Sam Wylie has been appointed portfolio manager.
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Lloyd’s maverick syndicate produces impressive results, but questions remain over succession.
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This will allow Ark to write business on surplus line paper and Lloyd’s business.
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TMGX is designed to help insure the green transition.
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The changes are aimed at improving underwriting and operational performance.
-
The dropped process is JC Flowers’ second attempt to sell the international broker.
-
Starr and Axon also are among those exposed to the Marsh USA-placed $40mn line.
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The Peak Re subsidiary mainly writes US motor and casualty reinsurance.
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Burford’s CEO said Chubb is inappropriately using its corporate power.
-
There have been several personnel moves in the fast-growing tax insurance space recently.
-
Kestrel stock will begin trading on Nasdaq tomorrow under the symbol KG.
-
Politically related exposures are growing for the marine market.
-
LA wildfire losses are impacting the 2024 years of account, Argenta noted.
-
Philip Enan joins following 11 years at Chubb.
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Almost 50,000 people have been forced to evacuate.
-
The change reflects the company’s growing profile within the MS&AD group.
-
It previously predicted activity slightly below the 1995-2024 average.
-
New capacity is fuelling competition for talent in the class of business.
-
The executive will also continue as MD overseeing Caribbean fac.
-
SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
-
Cincinnati Global entered the cargo market this year.
-
Plus, the latest people moves and all the top news of the week.
-
While M&S had a cyber policy in place, Co-op and Harrods did not, Insurance Insider revealed.
-
Trade credit rivals Coface and Awbury are also entering the market.
-
The agency forecasts up to five major hurricanes and 19 named storms.
-
Last week Neo Combarro, Lockton’s head of TL announced his exit on LinkedIn.
-
Spicer will transition to a global specialty executive chairman role.
-
Alex Cullen left Atrium last month.
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She will continue to work with the executive team on key projects and initiatives.
-
The broker called on carriers to expand coverage into new specialisms.
-
In January, 32 Acquinex employees resigned, with 22 moving to Howden’s underwriting arm.
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The aircraft lessor has booked $654mn in settlements from insurers over the past year.
-
New entrants to the line of business have heightened competition for talent.
-
Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
-
Willis has made a series of aviation hires on both sides of the Atlantic in recent weeks.
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The executive will take the global role alongside his existing US responsibilities.
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TMK formed its specialty reinsurance unit last year.
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M&S, which still faces disruption from the attacks, had coverage lead by Allianz.
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The underwriter joined Catlin in 2006.
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Markel International has also hired senior underwriter Keely Madden.
-
Chris Jones is the latest in a series of talent moves in the construction line.
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The underwriter has held positions at The Hanover, Liberty Mutual and Zurich.
-
Broker facilities and increased US domestic appetite are accelerating the softening.
-
Vincent Hermenier joined Hannover Re in 2004.
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The hire is the latest in the newly formed carrier’s buildout.
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As with 2024, pricing pressure has been most acute on top layers.
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The reinsurer reported EUR2.1bn GWP for the year.
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Holmes, Froideval and Cheak will head up the units for London, Europe and Asia.
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The company’s parent MS&AD reported group profit of 691bn yen for the year.
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The carrier benefited from top-line growth and lower adverse PYD.
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P&C combined ratios were higher than Q1 2024, and wildfires impacted Hannover Re most.
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Tornadoes have killed at least 32 people in three states.
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The targeted uplift comes after Mercury ceded nearly $1.3bn of wildfire losses to reinsurers in Q1.
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Motion Specialty will initially focus on high value home and flood insurance in the US.
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The broker replaces Louise Nevill, who is joining Axa XL as CUO for specialty.
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Greg Branagan joined Mosaic in 2023 as AVP, tax underwriter, within TL.
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Andrew Kane has spent eight years at QBE.
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Plus the latest people moves and all the top news of the week.
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The reinsurer’s CFO cited a 1.5% net price reduction year to date.
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Delegates welcomed the FCA’s red-tape cut, but said more is yet to come.
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Lloyd’s CUO said established broker facilities were “big enough”.
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Large natural catastrophe losses totalled $570mn in Q1, driven by the LA wildfires.
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Sources said MarshBerry was retained earlier this year to run the sale.
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Michael Brooks, SVP, head of transactional liability, will be taking over temporarily.
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The programme will succeed the previous buyback launched in 2023.
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The platform could help reduce claims-cash holding times by 10 weeks.
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The CUO noted that market-wide rate change in Q1 was down 3.3%, coming in below plan.
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The company has settled, or is in the settlement stage, for 80% of the exposure.
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Competition is high in specialty reinsurance as new capacity enters the market.
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Specialty reinsurance has experienced high competition for talent.
-
The carrier’s overall P&C combined ratio improved 0.1 points to 91.8%.
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The undiscounted combined operating ratio worsened slightly to 96.6%.
-
Renewable retrospective solutions were a key point during the discussion.
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The Bermudian's first quarter cat losses totalled $333.3mn, compared to $103mn a year ago.
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The revision is significantly lower than the $4.5bn October estimate.
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Their next destination remains unknown.
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The exec will lead key initiatives including Aon United, and work closely with NFP.
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The new CEO said recent purchases were designed to protect earnings volatility.
-
Sources suggested that the multiple could be as low as the 13x range as valuations reset.
-
Insurance Insider revealed earlier this week that the underwriter had resigned from Allianz.
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The CEO said Ascot would deploy capital where it sees opportunities.
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Aviva and Direct Line struck the landmark deal in December.
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New CEO Eckert said Conduit had taken “decisive action” after the LA wildfires.
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Soft conditions have led to “less acute" underwriting discipline, sources said.
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Neil Eckert has been chair since the carrier was founded.
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The headcount at the start-up now stands at around 40.
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The carrier has also added AIG’s Alice Hawkins to its aviation unit.
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The market has broadened its risk appetite and infrastructure over the years.
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The exec said if he were a carrier CEO, now is the time he would start looking for deals.
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The reinsurer said the LA wildfires would have a “dampening effect” on mid-year renewals.
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The carrier will focus on mid-market business outside of Lloyd’s.
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The product protects insureds outside of warzones from conflict-related cyberattacks.
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JMG chief Nick Houghton will remain in post after the sale.
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The carrier booked EUR800mn in LA losses in the P&C segment.
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The reinsurer's group operating income fell by 14% to EUR480.5mn.
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Abry and Oak Hill also participated in the Evercore-run process.
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The Willis-brokered coverage also includes the Willis CyXS facility.
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The group said corporations face geopolitical and climate risk.
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New capacity continues to enter the hull market, and rates are falling.
-
The broker has also held positions at JLT, Towergate and THB.
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More players are looking to the class in a bid for top-line growth.
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Tropical Cyclone Alfred and Queensland flooding brought thousands of claims.
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New broker vehicles are setting up amid accelerated softening in D&F.
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Former Aviva and AIA CEO Mark Wilson will lead the new initiative.
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The final month of the year saw an unusually high number of claims.
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The executive previously worked at Hiscox and Aviva.
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The carrier’s estimated first event limit could increase 16%, to $1.35bn.
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The company’s upsized public offering priced at $30 per ordinary share.
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The firm expects to replace the volume with Innovations-channel business.
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The (re)insurer used alternative capital in the reinsurance coverage.
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Hamilton also expects rising demand and stable supply for 1 June renewals.
-
The underwriter was part of Probitas’ founding team.
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The team will focus on building out Miller’s property treaty, retro and ILS capabilities, it’s understood.
-
The MGA is building out its product base from its latent defects and surety offering.
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The group has hired Hines Associates to advise on the process.
-
The business is looking to grow its marine offering across its global platform.
-
The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.
-
Jacqui Ferrier speaks with Insurance Insider in her first interview since taking the reins.
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Q1 adverse reserve development went down to $4.2mn from $5.4mn a year ago.
-
Hamilton reported $150.5mn of net cat losses, partially offset by $9.2mn favourable prior year development.
-
IGI saw opportunities in energy, ports and terminals and marine cargo but remains cautious in long-tail lines.
-
Ark's combined ratio included 25 points of catastrophe losses in Q1.
-
The facility provides follow capacity to US and international placements.
-
The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.
-
Gallagher Re said rates had softened in 2025 versus the prior two years.
-
Ransomware threat actors are continuing to attempt ‘smash and grab’ attacks.
-
Till Wagner and Felix Rollin have been named executive board members in Germany.
-
The market is also facing potential losses from injuries to NFL stars.
-
The executive led Ferma for 10 years.
-
The CEO expects overall P&C pricing to be “stable” through 2025.
-
Sentiment at the ILS Connect event hosted by Insurance Insider ILS was generally positive.
-
The carrier booked LA wildfire losses of EUR148mn.
-
The insurer has not decided whether to sell its Eaton subrogation rights.
-
Cat losses included $17.5mn from the CA wildfires and other events.
-
The executive was previously a top US casualty broker.
-
The executive was head of fine art and specie at Miller until February 2025.
-
Space pricing experienced double-digit increases after the 2023 capacity retreat.
-
Jonathan Mesagaes will report to John Hyland, head of underwriting and marine.
-
Backer Livingbridge’s second attempt to sell the broker has reached an impasse.
-
The underwriting executive joins from Axa XL.
-
Beazley, Hiscox and Lancashire all grew in Q1 despite widespread rate decreases.
-
At his last annual meeting as CEO, Buffett highlighted the importance of Berkshire’s insurance operations.
-
Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
-
Meanwhile, gross written premiums grew 8.6% year on year to $985mn.
-
The primary and reinsurance unit CoRs were 103.1% and 98.7%, respectively.
-
AIG, HDI Global and others have settled. Chubb’s fight continues.
-
Joanne Barry will be joining the team at Zurich.
-
The Canadian conglomerate’s total cat losses in Q1 reached $781mn, including $692.1mn from the fires.
-
We assess the Bermudian’s standing amid waning investor sentiment and economic uncertainty.
-
The reduction was due to impacts from investments and less favourable PYD.
-
The facility provides up to $100mn in claims-made excess casualty coverage.
-
The state insurer of last resort is set to purchase $2.89bn of reinsurance this year.
-
AJG still has $2bn of M&A capacity after the AP and Woodruff Sawyer deals.
-
Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
-
The remediation process is on track for completion in the fourth quarter.
-
The CUO described the pricing dynamics in the line as “strong and good”.
-
The reinsurer said the market was unprofitable and pricing needed to increase immediately.
-
The executive also addressed the impact of the US tariffs.
-
Its 2025 programme exhausts at $9.5bn excess $1bn.
-
The proposals consist of supervisory expectations rather than rules.
-
The new Lloyd’s chair has issued a commencement letter on his first day.
-
-
The Nordic operations have capacity provided by Allianz Commercial.
-
Lloyd’s chair Bruce Carnegie-Brown officially hands over to Charles Roxburgh today.
-
The carrier reported a 3% price reduction across London market business.
-
The carrier estimated its California wildfire loss at $145mn-$165mn.
-
The Bermudian reported net pre-tax cat losses of $49mn, with $32mn attributable to the California wildfires.
-
The underwriter is taking on a role with Cipriani and Werner.
-
The days of 30%+ growth are probably behind the firm, he said.
-
These resignations come as many former Acquinex employees begin their new roles at Dual this week.
-
Simon Horton spent 10 years at Marsh before joining AIG last year.
-
The group reported “robust” growth in property reinsurance premium.
-
The carrier beat QBE to the punch to secure the lead position.
-
The group reported a 19.1% return on opening adjusted tangible book.
-
Overall, the company’s underwriting income fell 43% to $417mn in the first quarter.
-
The pair add to the roster of aviation-focussed hires at WTW.
-
The carrier is targeting an IPO valuation between $2.6bn and $2.9bn.
-
The broker said the burgeoning class of business was still finding its stride.
-
Alexander von Reuss joins the Hamburg office, while Wilson Hill joins the London team.
-
Growing economic and population exposures are driving potentially larger insured losses.
-
The hires form part of WTW’s build-out of its US aviation practice.
-
CEO Adrian Cox said the market could turn on “unexpected events”.
-
The retailer’s partners are looking to join forces to secure better deals.
-
Cyber and property experienced the largest price reductions.
-
Ann Field, Matt Moore and David Griffiths have also had promotions.
-
Co-founder and CUO Jacqui Ferrier has been appointed his successor.
-
The underwriter left Antares last autumn.
-
Fierce competition for cargo talent continues in the London market.
-
Six weeks after the storm, Perils released its first industry-loss estimate at EUR619mn.
-
Risk managers at last week’s Axco summit said interconnected global risks require flexibility.
-
Investor interest is mounting in German broking assets.
-
The agency cited SiriusPoint’s recent management moves including lower cat exposure as a driver of the change.
-
Anthony Grew joins SiriusPoint after four years with Allied World.
-
The commercial risk and reinsurance units delivered mid-single-digit growth.
-
Plus the latest people moves and all the top news of the week.
-
The California wildfires were the only “relevant event” for the period, the carrier said.
-
The business is majority-owned by Castik Capital.
-
The firm said supply and demand was becoming more in balance than at 1 January renewals.
-
Lucy Clarke said the broking business was resilient in the face of macro challenges.
-
Managing director Nick Bacon will also exit this summer.
-
The team is led by industry veteran John Lentaigne.
-
The broker will be based in Oslo and drive expansion in the Nordic region.
-
The only major product line to see rate increases was casualty.
-
The board of directors was unanimous in its decision.
-
Combating depressed trading on the LSE and a delayed hard market shift has held back the firm.
-
In a post on LinkedIn, Steve Arora said investor appetite “just wasn’t there”.
-
The property segment experienced a 113.5-point impact from the California wildfires.
-
The business, which has ~EUR300mn of book value, is expected to launch a process.
-
The carrier announced a major writedown in its L&H book last year.
-
Insolvencies caused by the tariffs could also cause increased losses
-
The sale price represents Elephant’s approximate net asset value.
-
Marsh alleges Aon also went after its clients as well as its employees.
-
The executive will define strategic priorities and guide global growth.
-
The Kelso and Arch-backed run-off player has retained Evercore to advise.
-
SCS losses were also above average in Q1 due to “lingering” La Niña conditions.
-
The business will divide into US wholesale and specialty, and programmes and solutions.
-
The legacy carrier reported an operating loss of $45.3mn for the year.
-
The underwriter is to run a new fine art and specie operation.
-
The combined business volume of the two firms is CHF20.1bn.
-
The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
-
Alongside Chatterjee, SVP Dharma-Wardana has also exited the team.
-
Insured losses were the second highest on record for the first quarter.
-
California wildfires had ‘little or no impact’ on property cat pricing at April 1, Dean Klisura said.
-
Fully placed, this would equate to $275mn on the per-occurrence tower and $675mn on agg.
-
Giles Hussey is set to join from Guy Carpenter.
-
Representatives from the UK broker have been ordered to appear before magistrates on 7 May.
-
Why have reinsurance start-ups remained so rare in recent years, even as underwriting conditions have improved?
-
Being the “new kid” has created interest in the market, Mereo CEO Croom-Johnson added.
-
Newly appointed CEO Chris Jones also joins the board.
-
The firm now reports on insurance exposures to natural perils for 21 countries.
-
The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
-
Meco's 2024 gross written premiums totaled $63mn.
-
Delaney has spent the last 14 years at TMK.
-
Charles De Bar leaves Allianz after four years with the carrier.
-
Sources expect it to be a couple billion-dollar insurable market.
-
-
Methven joined the MGA in 2002.
-
The Applied Underwriters unit has been building out its product base in the London market.
-
The InsurTech was part of the fourth cohort at Lloyd’s lab.
-
Chris Gray joins from Axis, where he was global head of marine reinsurance.
-
Judith Zeleny brings over 35 years’ experience to the role.
-
Due diligence is essential to make sure incubators are backing winners.
-
Alex Amezquita will fill Cahill’s previous position as CFO.
-
Trevor Oates will be responsible for ceded reinsurance purchasing.
-
The business will still look at large non-life deals in particular in-the-money ADCs.
-
From where to prioritise investing to managing slower growth, there are tough balancing acts ahead.
-
The worsening of extreme weather is becoming a global problem, presenting data challenges.
-
The acquisition will position Ageas as one of the top three UK personal lines insurers.
-
It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
-
The Lloyd’s syndicate is a lead market in aviation war.
-
Current specie head Victoria Bell is leaving Argenta to join Axis.
-
TMK is the largest insurer of aviation risks at Lloyd’s by gross written premium.
-
The investment recovery will be welcome but Chinese tariffs will contribute to loss-cost inflation.
-
A positive outcome could significantly curb insurers’ exposure to the loss.
-
Erik Manning is joining the business from BMS as head of ceded reinsurance.
-
Storms in the UK and Ireland drove losses in the commercial segment.
-
The book of business comprises both personal and commercial lines.
