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Hiscox hit by investor revolt on pay
Investors holding 42 percent of Hiscox's shares voted against the (re)insurer's director pay policy at its annual general meeting yesterday (15 May), in one of the biggest shareholder revolts at a London-listed company this year
16 May 2014
United Insurance Holdings set to buy Sunshine State
United Insurance Holdings is set to ride to the rescue of Sunshine State Insurance Company (SSIC) after signing a non-binding letter of intent to buy its fellow Floridian and inject capital to restore its Demotech rating.
16 May 2014
Allstate takes another $280mn of cat losses in April
Allstate shares were trading down this afternoon after the US insurance giant announced estimated April 2014 cat losses of $250mn along with a $30mn reserve charge for previous months' cat events.
15 May 2014
Nephila to inject $10mn into Heritage
Nephila Capital affiliate Ananke Re has committed to invest $10mn in Floridian insurer Heritage through a private placement ahead of the firm's imminent IPO.
15 May 2014
Pioneer strengthens board with senior non-execs
Managing agency Pioneer Underwriters has appointed former Deloitte partner Ian Clark and London market veteran Eamon Brown as non-executive directors as it strengthens its board and pursues further growth.
15 May 2014
Gaffney appointed COO of Willis Global
Global broker Willis today (15 May) announced the appointment of Simon Gaffney as chief operating officer of Willis Global, the business unit that includes Willis Re and the firm's UK and specialties divisions.
15 May 2014
Tower rejects rival bid from Eastern European insurer
Troubled US insurer Tower Group has rejected a $3.75 a share takeover bid from Southeastern European carrier Euroins Insurance Group (EIG), stating that the offer does not constitute a "superior proposal" to the recommended offer from ACP Re.
15 May 2014
Generali P&C unit drives Q1 profit growth
Generali, Europe's third-biggest insurer by market value, today (15 May) reported a 9.4 percent increase in its first quarter profit, helped by a strong performance at its P&C insurance division.
15 May 2014
Enstar reshuffles Torus after O’Donohoe resignation
Legacy-to-live insurance group Enstar has confirmed the resignation of Torus Group CEO Dermot O'Donohoe, as revealed earlier today (15 May) by The Insurance Insider.
15 May 2014
Chubb CEO sells another $5mn of shares
Chubb CEO John Finnegan has sold another 50,000 shares in the US insurance giant, raising $4.7mn
15 May 2014
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