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AmTrust fee business sale an uphill struggle

AmTrust is likely to find it a challenge to divest a 51 percent stake in its fee business, according to banking sources

Adam McNestrie, 26 May 2017
UPC finalises $2.8bn reinsurance treaty

UPC Insurance has put in place in its biggest ever reinsurance programme ahead of the 2017 hurricane season, with $2.8bn of limit, including $1.9bn of private cover.

Fiona Robertson, 26 May 2017
Novae hunts for major legacy solution for reserves

Troubled London-listed insurer Novae is exploring a legacy transaction with parties including Berkshire Hathaway and Enstar that could allow it to hand off £450mn ($583mn) of net reserves, The Insurance Insider can reveal

Adam McNestrie, 26 May 2017
Neos secures backing from Aviva and Munich Re

The home insurance start-up Neos has secured a £5.0mn ($6.5mn) investment in a Series A funding round led by Aviva Ventures and that includes Munich Re, which is providing underwriting capacity

Bernard Goyder, 26 May 2017
Zurich streamlines North American structure

Zurich has brought its North American specialty products business together with its commercial insurance unit to fall under the control of Paul Horgan.

Dan Ascher, 26 May 2017
Zurich North America specialty president moves to The Hanover

The Hanover has hired Zurich North America's Bryan Salvatore as executive vice president and president of specialty.

Bernard Goyder, 26 May 2017
Karfunkel family injects $300mn into AmTrust

Family members of AmTrust's founders have injected $300mn into the company through a private share offering just weeks after speculation that the insurer would require hundreds of millions of dollars to bolster reserves.

Dan Ascher, 26 May 2017
GOP NFIP bill aims to pry open private US flood market

A proposal to reform the National Flood Insurance Program outlined today in Washington by a key Republican congressional leader seeks to pry open a $3.4bn market for private carriers while also establishing ways to improve the indebted scheme’s finances.

Ted Bunker, 26 May 2017
Atlantic set for above-average hurricane season: NOAA

The National Oceanic and Atmospheric Administration (NOAA) has predicted that the Atlantic will experience above-average activity in the forthcoming hurricane season, with a significant likelihood of several major hurricanes.

Matthew Neill, 25 May 2017
HDI Global enters London A&H market with Morrin hire

Kieran Morrin has left his role at Sompo Canopius to become director of accident and health (A&H) for HDI Global, The Insurance Insider understands.

Charlie Thomas, 25 May 2017

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