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Steamship Mutual elevates Martin in succession plan

Gary Rynsard will step down as executive chairman of Steamship Mutual in February 2019 and be replaced by managing director Stephen Martin as part of a succession plan that the London protection and indemnity (P&I) club announced today.

Anthony Baldo, 06 February 2018
Munich Re Q4 operating profit edges up 5%

Munich Re has reported operating profit of EUR864mn ($1.07bn) for the fourth quarter of 2017, up 5 percent year-on-year, in an earnings snapshot that was broadly in line with consensus expectations.

John Hewitt Jones, 06 February 2018
Pirates release tanker hijacked in Gulf of Guinea

The Panamanian-flagged oil tanker that disappeared off the coast of Benin with 13,500 gallons of fuel oil and 22 Indian crew members has been recovered.

John Hewitt Jones, 06 February 2018
US tax reform tests total return reinsurers

Total return reinsurers have been caught off guard as changes in US tax law threaten to redefine offshore affiliates as investment managers and not reinsurers.

Ted Bunker, 06 February 2018
Markel Catco ties up 42% of net assets in side pockets

Markel Catco has placed 41.5 percent of net assets in its London-listed Reinsurance Opportunities Fund into side pockets connected to the 2017 losses, the retro manager said in an update on its 2018 portfolio.

Fiona Robertson, 06 February 2018
Markel soars over Q4 estimates even as profit falls

Markel posted fourth quarter operating earnings that far surpassed Wall Street estimates even though its profit dropped 16 percent driven by a sharp decline in underwriting gains.

Ted Bunker, 06 February 2018
Primary hab and hotel losses drive property hardening

Pockets of hardening have emerged in the commercial property sector for US primary habitational and coastal hotel risks in the wake of 2017 catastrophes and mounting attritional losses.

David Bull, 06 February 2018
Market stands behind Beale's PPL rallying cry

Inga Beale's statement yesterday that Lloyd's was willing to mandate the use of Placing Platform Limited (PPL) was not quite the go-it-alone pronouncement it seemed, with the move agreed by the London market's modernisation group early last week.

Adam McNestrie, 06 February 2018
XL Catlin names MacColl as global hull leader

XL Catlin has promoted Mike MacColl to the role of global practice leader for hull.

06 February 2018
AIG's Trotti to leave for JLT

AIG's former aerospace and marine head Joe Trotti is to leave the US carrier for JLT.

John Hewitt Jones, 06 February 2018

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