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Based in London, the executive will report to Ocean Re CUO Jamie Wakeling.
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Regulation is one of the driving forces for most small brokers to sell.
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Axa XL has also added Fidelis’ Jamie Cann to its aviation team.
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The former Everest executive will look to roll out a range of new product lines at the heavyweight MGA.
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The marine carrier reported a ‘benign’ P&I claims environment.
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The CEO said Scor is still on track to hit a full-year 87% combined ratio.
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A rundown of the main stories of the week.
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The executive said that the Corporation had received net exposure figures for the loss from all syndicates.
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Proposals will be put to the Lloyd’s Council over the coming weeks to take effect from 2025.
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The Lloyd’s chief of markets said he was generally comfortable with market fundamentals.
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The business will be supported by up to $200mn of Lloyd’s and London underwriting capacity.
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Previously, Simon Coles was a reinsurance broker at McGill and Partners.
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CFO John Dacey said the carrier had concluded it was not the “best owner” for iptiQ after a strategic review.
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The carrier reported rate increases of 5% across its P&C portfolio.
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The carrier also announced that Moses Ojeisekhoba, CEO of Global Clients and Solutions, has resigned.
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The timing of the incident could leave carriers running large net exposure for the remainder of the policy year.
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P&C re and CorSo reported improved net profits and combined ratios for the quarter.
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CEO Trevor Carvey described the market during Q1 as being a "very healthy environment”.
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The executive is to pursue “a different entrepreneurial path”, according to an internal memo.
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The ratings agency warns that wildfire is an increasingly risky and unpredictable peril.
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The carrier is confident of “clearly exceeding” its group net-income forecast of EUR1.7bn for the year.
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Current Bermuda CEO Chris Bonard will become president of the unit.
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Property and specialty led the carrier’s expansion, with growth in casualty more modest.
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Premium income was down due to lower volume in financial lines and alternative risk transfer.
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The carrier has ambitious growth plans for its rebranded Munich Re Specialty segment.
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The broker will sponsor a fellowship for a researcher working at the university.
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The underwriter will head up casualty reinsurance for the US and elsewhere.
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After an unexpected charge in Q4 last year, the carrier feels “very comfortable” with its reserving position.
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Jensten’s London market unit will report to the core broking trading division under Rob Organ.
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The updated framework from the Corporation provides less “scope creep”, said CUO Rachel Turk.
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At group level, Hannover Re's operating income grew by 15% to EUR558.1mn.
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Proving war-on-land coverage has been challenging, given the lack of reinsurance cover available.
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The carrier also confirmed the appointment of Ian Davidson as senior underwriter.
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John Silcock was CEO of entertainment broker Robertson Taylor.
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The news follows an announcement from the MGA last week that it has taken a Lloyd’s box.
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Polo MGA will provide services to both start-ups and established MGAs.
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Michael Yeats will now lead the automatic reinsurance facilities division in the US.
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The former R&Q head of legacy will join as an adviser.
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Along with D&F, Fidelis is looking to grow in marine construction and aviation.
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FCA data reveals a worrying drop in new broker authorisations.
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Such reviews within the sector jumped from one in 2022 to 12 in 2023.
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Storms struck the Great Plains, the Midwest and the Southeast.
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The status was achieved thanks to the MGA’s insurance partner, Apollo Underwriting.
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The carrier said nat-cat claims were running in line with plan assumptions.
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The carrier is also considering a potential casualty treaty market entry.
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The carrier also reported a $16mn satellite loss during the quarter.
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A rundown of the main stories of the week.
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The company’s results come less than two months after announcing its Lloyd’s syndicate.
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These cedants could offer the firm access to support their casualty and specialty lines as well.
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The bridge disaster added 6.3pts points to the company’s overall CoR in Q1.
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Parametric triggers are likely to involve financial losses and a number of impacted businesses.
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WTW is looking to strategically hire across its business, having rebuilt its team following the failed Aon merger.
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Further hires included Scott Fields and Stephanie Fick, both appointed senior vice presidents.
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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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The bridge collapse added 9.8 points to the consolidated quarterly CoR.
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The vehicle will give the legacy carrier a US platform.
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This is not the first pulled strategic process in the adjusting, and broader claims services, sector in recent months.
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The insurer said its Lloyd’s presence underscores its London market commitment.
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He will report to Kelly Superczynski, Aon’s global head of capital advisory.
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Paragon co-CEOs James Kalbassi and Tara Falk will become Ardonagh shareholders.
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Cyber physical damage cover has also been added to the facility.
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CFO Christoph Jurecka declined to give a loss estimate for the Baltimore Bridge loss.
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The broker has also placed a new cyber facility.
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The buyer intends to fund the transaction with approximately 50% equity and 50% debt.
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The carrier reported a P&C re net result up 44% to EUR1.8bn.
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The Altamont-backed broking start-up continues to build out its staff.
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Prior to joining WTW, Morrison has held senior roles at Canopius, and AIG.