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Zurich hires Axa XL’s Powell to newly created role of global financial lines and cyber head

The former financial lines CUO will start at the end of the month and be based in Switzerland.

Anna Sagar, 04 May 2021
Perils cuts Queensland hailstorm loss by 10% to A$1.1bn

The initial loss figure was A$1.23bn, with a second report putting the loss at around A$1.3bn.

Anna Sagar, 04 May 2021
Charles Taylor buys loss adjuster Insurance Engineering Services

The acquisition is the third this year for the Lovell Minnick-backed acquirer.

Anna Sagar, 04 May 2021
EC extends Aon/Willis merger review deadline to 3 August

The regulator had previously set a 27 July deadline after the merger partners offered divestments to secure regulatory approval.

Anna Sagar, 04 May 2021
Near-miss Suez was a warning shot for a recovering marine market

There is increasing optimism about rating adequacy, but sustained underwriting discipline is essential.

Samuel Casey, 04 May 2021
Northern Australia in line for A$10bn cyclone reinsurance backstop

The pool, which will cover cyclone and related flood damage from July 2022, is expected to bring down the cost of insurance.

Anna Sagar, 04 May 2021
Florida Citizens welcomes ‘meaningful steps’ from legislature

The Senate has signed off an insurance reform bill which eliminated earlier proposals on cash roof settlements and fee multipliers, but reduced the statue of limitations and made other pro-industry changes.

Fiona Robertson, 04 May 2021
Argo grows operating income 24% on investment gains, core margins continue to strengthen

The US-focused specialty insurer dropped its core loss ratio by almost two points as it delivered its best underlying underwriting result since 2016.

James Thaler, 04 May 2021
Berkshire's Buffett names Abel as eventual successor

The company’s vice chairman for insurance operations, Ajit Jain, who runs Berkshire’s insurance operations, had also been viewed as a frontrunner.

James Thaler, 03 May 2021
Gallagher to buy Australia’s Mutual Brokers

The intermediary has been expanding its presence in the Australian market considerably since the acquisition of Wesfarmer’s insurance business for $933mn 2014.

Bernard Goyder, 03 May 2021

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