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US primary casualty rates enter softening territory: Willis

US primary casualty rates are falling for most buyers for the first time in the current soft market, according to broker Willis.

David Bull, 23 October 2015
Sciemus hires cyber lead underwriter Welsh

Sciemus has hired Rick Welsh and his team from Aegis to head up a new cyber-focused managing general agency (MGA), The Insurance Insider can reveal.

David Bull, 23 October 2015
Chubb shareholders approve Ace deal but oppose $80mn Finnegan payout

Chubb shareholders have given the green light to the US insurer's takeover by rival Ace, but opposed an $80mn golden parachute payment to CEO John Finnegan.

David Bull, 22 October 2015
AM Best upgrades Axa’s internal reinsurance platform

AM Best has upgraded the financial strength rating of Axa's internal reinsurance vehicle from A to A+ and its issuer credit rating from a+ to aa-.

David Bull, 22 October 2015
Travelers hit by $224mn asbestos deterioration

Travelers was forced to bolster its reserves for asbestos losses by a further $224mn in the third quarter after it increased its projected cost of settlement and defence fees for mesothelioma claims.

Charlie Thomas, 22 October 2015
Ace Tianjin loss just a 10th of Zurich’s

Ace has reported a pre-tax loss of $22mn from the Tianjin explosions in August - less than a 10th of rival Zurich's estimated claims burden

Catrin Shi, 22 October 2015
Novae makes new cyber hire

Novae has hired Jacqueline Spencer-Sim as class underwriter for its cyber business, the firm announced today (22 October).

Catrin Shi, 22 October 2015
RFIB completes majority stake sale to Calera

Lloyd's broker RFIB Holdings has completed the sale of a majority share in the business to private investment firm Calera Capital, it announced today (22 October)

Catrin Shi, 22 October 2015
Travelers shies away from large-scale M&A with new CEO: Barclays

Travelers does not appear to be looking for a "large-scale" merger or acquisition as its long-serving CEO Jay Fishman looks to hand the reigns to his successor Alan Schnitzer, Barclays analyst Jay Gelb has said.

Dan Ascher, 22 October 2015
Allied World in operating beat but investments drive net loss

Allied World reported consensus-beating operating profits per share but fell to a $51.6mn net loss for the third quarter driven by realised investment losses and a $28.9mn Tianjin hit.

Dan Ascher, 22 October 2015

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