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Growing competition raises spectre of soft market
Downward rating pressure is intensifying across many reinsurance and specialty classes, The Insurance Insider finds in a comprehensive survey ahead of the 1.1 renewals and 2014 market conditions
04 December 2013
Tokio Marine combines London operations
Tokio Marine is combining its Lloyd's (re)insurance business Kiln with its existing London-headquartered European arm to form a new operation, Tokio Marine Kiln Group (TMK), the firm announced this morning (4 December).
04 December 2013
Towergate completes Footman James acquisition from Aon
Broker consolidator Towergate has completed a deal to buy classic car and motorcycle insurance intermediary Footman James from Aon.
04 December 2013
AmWINS to buy rival Bliss & Glennon
AmWINS has agreed to buy smaller rival Bliss & Glennon from Fortegra Financial Corporation for an undisclosed sum, cementing its position as the biggest wholesale P&C broker in the US.
03 December 2013
UK CEO Carpenter to leave Amlin in January
Brian Carpenter will give up his duties as CEO of Amlin's UK operation at the end of January ahead of full retirement later in 2014, The Insurance Insider can reveal
03 December 2013
Marsh appoints new global risk president from sister firm
Marsh & McLennan on Tuesday (3 December) said it had appointed John Drzik as president for global risk and specialities at its Marsh insurance broking business, reporting to Marsh chief executive Peter Zaffino
03 December 2013
Goldman Sachs downgrades US P&C sector
Goldman Sachs analysts have offered a gloomy outlook on the P&C (re)insurance sector as the firm warned of slowing margin expansion in 2014 as the "window for outperformance" narrows.
03 December 2013
Catlin spending $800mn a year on brokerage
Catlin's chief operating officer, Paul Jardine, has reiterated his criticism of the Aon-Berkshire Hathaway Lloyd's "Sidecar" while also decrying the amount of brokerage that his group pays to access business from brokers.
02 December 2013
Tawa tumbles after $28mn reserve strengthening
Struggling run-off acquirer and (re)insurance service provider Tawa saw its share price plummet by 24 percent today (2 December) following last Friday's profit warning relating to a $28mn reserve strengthening charge on a reinsurance deal protecting a book of US lead paint liabilities.
02 December 2013
Aspen launches first sidecar with $65mn Silverton Re
Aspen Re has kicked off its third-party funds management business by launching a $65mn sidecar, Silverton Re, as first reported by sister publication Trading Risk in late October
02 December 2013
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