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SCE agrees $1.2bn subrogation settlement over 2017 fires

The utility will draw down $843mn of its own insurance to help meet settlement costs related to the Thomas and Koenigstein fires, and the 2018 Montecito mudslides.

Jeff Kuntz, 24 September 2020
Marsh hires IBM executive as chief digital officer

Tamara Simpkins Franklin will join on 1 October and report directly to president and CEO John Doyle.

Anna Sagar, 24 September 2020
Nightclubs demand immediate 50% BI payouts from Hiscox

A trade body and broker said payouts would be the “ethical approach” to support financially stressed businesses.

Samuel Casey, 24 September 2020
Slaughter targets 1.1 market return with Bermuda start-up

The former Liberty executive’s long-term ambition is to build a tech-enabled, London-based risk carrier to align with the Future at Lloyd’s vision.

Adam McNestrie, 24 September 2020
Black Lives Matter a ‘huge awakening’ on the need for change in EC3

A gathering of London market executives discussed how to meaningfully tackle black underrepresentation in (re)insurance and how to increase the pace of change.

Charlie Thomas, 24 September 2020
James: Sompo International could not fulfil growth ambitions at Lloyd’s

The international insurance CEO criticises the industry’s “unhealthy obsession” with market cycles but says London has a bright future.

Catrin Shi, 24 September 2020
Richard Li’s FWD picks banks for $3bn Hong Kong IPO: report

Existing shareholders in the business include Swiss Re.

Samuel Casey, 24 September 2020
R&Q strikes loss portfolio transfer deal with Allianz

The agreement includes a transfer of the underlying insurance business.

Samuel Casey, 24 September 2020
Reith to shelve start-up ambitions as Ariel talks break down

The funding for the deal was set to come from Cantor Fitzgerald and its billionaire CEO Howard Lutnick.

Adam McNestrie, 23 September 2020
Munich Re, Swiss Re and the multi-billion Covid-19 BI question

The two biggest reinsurers are said to be taking up a leadership role as the market starts to address the T&Cs challenge.

Adam McNestrie, 23 September 2020

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