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Peter Hastie

Published by this author:

  • John Nelson is considering stepping down as chairman of Lloyd's before the end of his second term, The Insurance Insider can reveal
  • The £2bn Flood Re reinsurance placement is likely be one of the first transactions placed through GCReBid, an online auction platform announced by Guy Carpenter on the eve of the annual Monte Carlo Reinsurance Rendez-Vous.
  • As the callow children stood on stage to bid farewell to the institution that had nurtured them since infancy, they held aloft hand-written signs adorned with their future aspirations.
  • Donald Trump can be an acquired taste. After all, when he is not litigating, filing Chapter 11 proceedings or property developing, he can often be seen on television dismissing another Apprentice aspirant with his mean-spirited catch phrase, "you're fired".
  • AmTrust is to launch a London marine business after hiring Swiss Re Corporate Solutions' head of London marine, Peter Townsend.
  • Ontario Teachers-backed Lloyd's insurer ANV has today (20 April) parted company with its founding CEO Matt Fairfield with immediate effect.
  • Max Pell, the head of the London market's back office joint ventures with Xchanging, is to leave the outsourcing organisation in the second quarter.
  • AIG acquires; Lloyd's Beijing; Cyclone Pam; Axis and PartnerRe boost; Thai attractions; BHSI energy hire; Double Dubai; Torus exit; Citizens levy ends; Cyclone Marcia; Scor shuffle; Integro acquires; Validus affirmed; Hales exits; Airmic appoints
  • By marrying an international retail network to a London market specialty play and a global managing general agency (MGA), Hyperion and RK Harrison are creating something that sets the group apart from competitors, according to founding Hyperion CEO David Howden.
  • If the three most prominent London market figures to have realised close to £100mn from either creating or running insurance businesses in the last decade are John Charman, Richard Brindle and Grahame Chilton, then the £400mn+ sale of RK Harrison has created a fourth: its outgoing CEO Paul Bridgwater.
  • The insurance engine that drives the vast Berkshire Hathaway conglomerate marked its 12th consecutive year of underwriting profits with a full-year net underwriting gain of $2.67bn, down from the $3.09bn a year earlier.
  • The fast-expanding Australian intermediary Steadfast Group Ltd is to raise A$300mn to acquire QBE's underwriting agency businesses in Australia and New Zealand.
  • Lime Street wags had recently speculated about what would see the light of day first: the Chilcot Inquiry into the 2003 invasion of Iraq (commissioned in 2009), or the winner of the tender to provide electronic placement services to the London market.
  • September 2014 marked the completion of Tom Bolt's fifth year as guardian of Lloyd's underwriting standards and coincided with whispered speculation that the former Berkshire Hathaway executive would be the next senior figure to leave the Corporation.
  • The future of UK intermediary Towergate remains unclear despite the successful restructure of its £1bn debt pile, with no long-term strategic direction confirmed
  • Apollo Global Management, the multi-strategy investment heavyweight, is close to acquiring Chaucer's $300mn UK motor book and has hired the former Giles CEO Brendan McManus to lead the venture, The Insurance Insider can reveal.
  • Despite raising the "for sale" sign almost two months ago, no buyers have appeared that are willing to take on Towergate's £1bn debt mountain
  • While much attention has been focused on documenting the continued - and entirely expected - decline in cat reinsurance rates at 1 January, perhaps the more troubling trend for reinsurers and their capital providers is the extent to which the malaise has extended into other classes.
  • Former QBE underwriter Ash Bathia is in the early stages of raising capital for an insurance start-up, The Insurance Insider can reveal.
  • German insurance group Talanx will become a top five non-life Chilean insurer if it completes a deal announced today (19 December) to acquire Inversiones Magallanes
  • The sale of an aviation broking subsidiary last week to rival JLT Group should enable Towergate to make the £31mn in Q1 coupon payments that are due to bondholders of its £1bn debt mountain.
  • The need for diversification rather than scale is driving much of the strategic evolution in the reinsurance sector, according to Bob Deutsch, the industry figure now spearheading the roll-out of Hamilton Insurance Group.
  • Last month, the price of Towergate's unsecured debt collapsed in the secondary markets as fears grew that the UK broker consolidator would fail to make the £31mn coupon payments due in the first quarter on the various layers of its debt mountain.
  • Despite the development of a two-tier reinsurance market, it is the need for diversification rather than simply scale that is a driving much of the strategic evolution in the sector.