CommentPeople MovesSuccession PlanningHow do you replace an emblematic leader while maintaining the essence of that which they formerly led?Mon 15 Jan 2018
CommentM&AAmTrust: what now?AmTrust investors were left scratching their heads at the end of last week.Mon 15 Jan 2018
NewsLossesAIR pegs Storm Eleanor losses up to €1.6bnCatastrophe modelling firm AIR has estimated that insured losses from Storm Eleanor will be between €1.1bn and €1.6bn ($1.3bn-$1.9bn).Fri 12 Jan 2018
NewsPeople MovesSwiss Re CFO to step down, Group Chief Strategy Officer will take over roleDavid Cole is to step down from Swiss Re from his role of Group Chief Financial Officer at the end of March 2018.Thu 11 Jan 2018
NewsLegal/ RegulatoryQatar Re seals regulatory approval for UK branchUK regulators have given the green light for Qatar Re to begin operations out of its newly-minted London branch.Thu 11 Jan 2018
NewsLossesXL’s fourth quarter cat losses creep to $315mnXL Group’s net catastrophe loss estimate for the fourth quarter has climbed by $65mn to $315mn in the wake of the wildfires in southern California and other disasters.Thu 11 Jan 2018
NewsProperty catastropheILS fund AlphaCat raises $714mnAssets under management (AuM) at Validus Holdings’ ILS fund manager AlphaCat have climbed to a new record of $3.4bn after raising $714.2mn from investors after the 2017 H2 losses.Thu 11 Jan 2018
NewsBrexitPRA launches consultation to reduce insurers’ Solvency II burdenThe Prudential Regulation Authority (PRA) has launched a consultation proposing a number of changes to the way insurers report to ‘reduce the burden for Solvency II firms and mutuals’.Thu 11 Jan 2018
NewsResultsHyperion earnings climb by almost a quarter to £152mnHyperion, which owns Howden, RKH and Dual, saw profits climb by 24 percent to £152mn ($205.4mn) in the 12 months leading up to the end of September last year.Thu 11 Jan 2018
NewsM&AAmTrust shares jump 27% on privatisation moveAmTrust’s stock has surged over 27 percent to $12.86 in early trading in New York this morning after it was revealed that the insurer’s founding family and minority shareholder was looking to take the company private.Wed 10 Jan 2018
NewsPeople MovesLucy Clarke named Global CEO of JLT SpecialtyJLT has appointed Lucy Clarke as Global CEO of JLT Specialty. The remit of this new role covers all of JLT’s business activities with the exception of reinsurance broking and employee benefits.Wed 10 Jan 2018
NewsM&AAmTrust CEO looks to take company private in $1.37bn dealAmTrust’s founding family has tabled a $1.37bn a deal to take the US insurer private in conjunction with the firm’s chairman and CEO Barry Zyskind as well as private equity house Stone Point Capital Partners.Wed 10 Jan 2018
NewsAcrisure eyeing international retail play after Beach dealAcrisure is looking to expand its retail broking business beyond its US heartland after acquiring (re)insurance broker Beach & Associates.Wed 10 Jan 2018
NewsM&ABeach sale continues US-London M&A trendUS retailer Acrisure has sealed a deal to acquire (re)insurance broker Beach & Associates from Jeff Greenberg’s private equity house Aquiline.Wed 10 Jan 2018
NewsPeople MovesJain joins Berkshire Hathaway board as Buffett lines up successorLongtime Warren Buffett lieutenant and mooted successor Ajit Jain has been named to the Berkshire Hathaway board as vice chairman of insurance operations in a move that the legendary investor said prepares the way for his eventual successor.Wed 10 Jan 2018
NewsProperty catastropheRenRe posts 3Q combined ratio of 245 percentThe scale of the third quarter cat events was highlighted by Bermudian reinsurer RenaissanceRe which posted an overall underwriting loss of $793.2mn on a combined ratio of 244.8 percent yesterday evening (31 October).Wed 10 Jan 2018