IFRS 17 unlikely to directly affect (re)insurers ratings...

Economic substance of their balance sheets will not change, Fitch Ratings says

Tysers acquires Cosmos UK and International Practice...

Acquisition of London based commercial lines business

Cunningham Lindsey expands Brazilian operations...

Loss adjuster swoops to bolster team


Pioneer builds out US E&S property team...

Kellie Reese joins from The Hartford

 

CoreLogic: 86,000 homes could be affected...

Southern Cali fires continue

Korea Re closes Lloyd’s SPA...

Beazley syndicate into run-off

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JLT’s Chairman runs risk of falling foul to corporate governance reform

JLT is at risk of falling foul of reforms aimed at improving accountability of the largest UK companies.


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Marsh promotes Paul Moody to CEO of UK Specialties

Marsh has appointed Paul Moody to be CEO of its UK Specialties Division. Moody succeeds Roy White in the role, who has been named Chairman of UK Specialties.


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London needs to be more ‘inventive’ to lure business away from local markets

The London insurance market must innovate in order to win marine business over local markets, senior industry executives have said.


Enderby to leave Marsh in London efficiency drive

Dominic Enderby, Marsh’s Marine UK Placement Leaderis one of the most prominent market figures likely to leave the broking giant following a recent reorganisation, Reinsurance understands.


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Fidelis adds surety capacity with MGA Firestone

Fidelis, the Bermudian (re)insurer has taken an equity stake in a new MGA and will be providing underwriting capacity.


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Lloyd’s needs to share data to improve market efficiency

Senior industry executives gathered at Reinsurance's ‘The Future of Cargo Insurance and Risk’ roundtable have called on Lloyd’s to do more to improve the distribution of data across the market.


Brit launches $100mn Bermuda collateralised reinsurer Sussex Re

Leading Lloyd’s (re)insurer Brit is poised to launch a $100mn capacity Bermuda-based collateralised reinsurance vehicle, Sussex Capital, that will write both third-party collateralised reinsurance and provide collateralised capacity to Brit’s Lloyd’s Syndicate 2987, Reinsurance can reveal.


Tokio Millennium Re loses UK claims head

Ed Gooda, the head of claims at Tokio Millennium Re's UK branch office, has resigned from the company, Reinsurance can reveal.


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Nichols to join Brit's new Bermuda platform

Former Axis Capital and RenaissanceRe executive Jay Nichols has joined the Board of Brit Ltd's new $100mn collateralised Bermuda reinsurer, Sussex Capital.


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London brokers lobby FCA to relax "impossible" wholesale review deadline

The largest London Market wholesale brokers are lobbying the U.K regulator to ease the deadline to respond to a detailed scrutiny of practices relating to market facilities, commission arrangements and relationships with (re)insurers.


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Fierce rate resistance from brokers ahead of 1.1 renewals

The ILS fund manager, Leadenhall Capital Partners, increased its assets under management to a new record size of $4.5bn last week but acknowledged that brokers determination to negotiate hard ahead of the 1.1 renewals prompted the firm to rein in some new capital flows ahead of closing its books.


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Southern California fires to take State's 2017 loss
beyond $10bn

As the industry reeled from AIR Worldwide’s initial $85bn high-end loss estimate for Hurricane Maria in late September, few would have thought the then sporadic California wildfires that began a few days later might ultimately lead to insured losses that approach or even exceed Maria’s event loss total.


AIG leads $149mn loss for
paralysed Chicago Airport dancer
 

AIG is understood to be the lead insurer on a $149mn claim following an incident that left a dancer paralysed at O’Hare airport, Chicago.


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PRA warns on cat model dependency

The Prudential Regulation Authority (PRA) encouraged UK (re)insurers to be aware of the limitations of vendor cat models.


IAG agrees quota share deals with Munich Re, Swiss Re and Hannover Re

Australian insurer IAG has signed up to three quota share deals with European reinsurers Munich Re, Swiss Re and Hannover Re.


UK reinsurance buyers avoid concentration risk

Despite the consolidation that has taken place in the reinsurance industry in the past two years, UK insurers dependency on any one specific carrier has “fallen marginally” since 2015.


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Liberty to redomicile its UK insurance company to Luxembourg

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, intends to redomicile its insurance company from the UK to Luxembourg, while maintaining its substantial London presence.


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Swiss Re CFO to step down, Group Chief Strategy Officer will take over role

David Cole is to step down from Swiss Re from his role of Group Chief Financial Officer at the end of March 2018.


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Fryer’s
delight

Did Angerstein spy fist-pumping over at Aon Benfield following the news last week that Charlie Fry has joined insurance powerhouse AIG to lead its reinsurance buying?  READ MORE

 

Dame Inga’s off message interview

 As Irma flattened swathes of the Caribbean and was barrelling its way to Florida, industry CEOs were carefully on message in emphasising the human cost of catastrophes. Apart from a curiously off message Lloyd’s CEO Inga Beale... READ MORE


Christmas comes early for Butcher duo

Angerstein was delighted by Reinsurance’s exclusive article earlier
this week that Integro is now in pole-position to acquire the London
market broker
...READ MORE

 

Farmers’ reinsurance renewal highlights market tension

Traditionally one of the earliest 1.1 cat reinsurance programmes to go firm order is Farmers’ US cat treaty. The US heavyweight, managed as a mutual by Zurich, wrote $19.7bn of gross premium last year...
READ MORE

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