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Hub and USI in accelerated Wells Fargo process

Private equity-backed brokers Hub and USI are the frontrunners to acquire Wells Fargo’s insurance brokerage and consulting business as the bank looks to sell the unit in a fast-tracked process, The Insurance Insider understands.

Adam McNestrie, 02 June 2017
Third Point Re investment gains outpace S&P 500

Total return reinsurer Third Point Re's investment returns rose last month to the highest level since January, putting the Bermudian on track to post its best results since 2013.

Ted Bunker, 02 June 2017
Marsh launches aircraft finance consortium

Marsh has formally announced the formation of the Aircraft Finance Insurance Consortium (AFIC) alongside aircraft manufacturer Boeing, which The Insurance Insider originally revealed in April.

Bernard Goyder, 02 June 2017
Hurricane outlook revised higher by CSU forecasters

The 2017 hurricane season in the Atlantic, Caribbean and Gulf of Mexico is likely to be more active and intense than previously forecast, Colorado State University (CSU) scientists said.

Lucy Jones, 01 June 2017
Varied Florida renewals yield deeper rate cuts: JLT Re

JLT Re said the Florida reinsurance renewal produced a more varied outcome than usual as it estimated rates fell by 5.1 percent at 1 June.

Fiona Robertson, 01 June 2017
US casualty rates climb for the first time in 2 years

Rates rose in the US casualty insurance space over the first three months of the year to mark the first gain since the third quarter of 2014, according to a new report from broker Marsh.

Dan Ascher, 01 June 2017
Cybersecurity remains at risk for US businesses: FICO

After hacks exposing data on hundreds of millions of people over the past several years and recent widespread ransomware extortion plots, half of US businesses still lack cybersecurity cover and over a quarter do not plan to get it, a new survey shows.

Ted Bunker, 01 June 2017
Homeowners Choice renews $968mn reinsurance cover

Florida insurer Homeowners Choice has placed $968mn of first-event catastrophe reinsurance for 2017-18, down slightly from $972mn last year, as it obtained better coverage terms

Sofia Geraghty, 01 June 2017
Ergo increases long-term profit target amid revamp

Munich Re’s primary insurer Ergo said it has achieved more than half the 1,800 job cuts it was targeting as part of a restructuring programme

Laura Board, 01 June 2017
Minova seals Cap Z refinance as Ebitda rises 26%

Minova Insurance has finalised a deal to refinance the first part of its preference share deal with private equity house Capital Z with debt from investment firm Pricoa

Adam McNestrie, 01 June 2017

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