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JLJ backs new Hong Kong and China war risk consortium

JLJ Maritime Hong Kong is to act as the MGA for a new Hong Kong and China war risk consortium, The Insurance Insider can reveal.

Charlie Thomas, 20 November 2017
McGill joins board of The Hartford

Former Aon group president Steve McGill has been elected to the board of The Hartford, as he takes on his first role since leaving the broking giant.

Adam McNestrie, 20 November 2017
Trump seeks $12bn for flood work, urging NFIP reform

The Trump administration has requested $12bn for flood mitigation projects and urged passage of National Flood Insurance Program reforms that the House of Representatives adopted this week.

Ted Bunker, 18 November 2017
Citizens data show $1.11bn Q3 underwriting loss: S&P

Florida’s insurer of last resort, state-run Citizens, produced a third-quarter net underwriting loss of more than $1.11bn, S&P Global Market Intelligence said today, citing an analysis of statutory filings.

Ted Bunker, 18 November 2017
Markel completes $919mn State National acquisition

Markel has completed its $919mn acquisition of State National, the company said today.

Bernard Goyder, 17 November 2017
Guarantee Insurance enters receivership as insolvent

Florida regulators have placed Guarantee Insurance, the workers’ compensation carrier controlled by former Patriot National CEO Steve Mariano, into state receivership, saying it is insolvent and had filed false financial statements.

Ted Bunker, 17 November 2017
Lutece Re to join new retro writers in 2018

New insurance-linked securities (ILS) fund Lutece Re will be among the start-ups targeting the retrocession segment in 2018 as the market anticipates a significant rating reaction to heavy losses this year, sister publication Trading Risk revealed this month

Sofia Geraghty, 17 November 2017
ValueAct founder Ubben steps down from Willis board

Jeffrey Ubben, the founder and CEO of activist investor ValueAct Capital, has resigned from the board of Willis Towers Watson

Laura Board, 17 November 2017
Gupta departs as Charles Taylor Managing Agency CUO

Ajay Gupta has resigned as chief underwriting officer of Charles Taylor Managing Agency (CTMA), the company has confirmed.

Bernard Goyder, 17 November 2017
Product recall market faces $50mn-$60mn Mars claim

Global confectionery giant Mars is claiming for $50mn-$60mn on its product recall policy after it recalled thousands of chocolate products over fears of salmonella contamination

Catrin Shi, 17 November 2017

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