Reinsurance
Ed hires Simon Stovell as divisional director
Simon Stovell has joined Ed as divisional director for its risk solutions team.
Aspen appoints UK CEO
Clive Edwards will become CEO of Aspen UK and Aspen Managing Agency.
Pool Re CEO predicts greater ILS diversification beyond US property-cat
Julian Enoizi, CEO of UK government-backed terrorism reinsurer Pool RE, has predicted that the insurance-linked securities market will diversify away from US property-catastrophe risks, into other “difficult to insure perils” such as terrorism.
2018 catastrophe loss levels are the new norm: Air Worldwide
The industry can expect to be hit with on average $92bn (£74.5bn) in insured losses from catastrophes annually going forward, according to catastrophe modeling firm Air Worldwide.
Guy Carpenter senior boss fired over 'glazed ring' incident
James Conmy, senior VP for marine and energy at Guy Carpenter, has been fired for gross misconduct after sending a team email that contained sexually suggestive comments about a female member of staff.
David Priebe appointed as Guy Carpenter chairman
Marsh sister company Guy Carpenter has appointed David Priebe as chairman, effective immediately.
Hurricane Dorian estimated to have inflicted $7bn of damage in the Bahamas
Hurricane Dorian inflicted $7bn (£5.7bn) worth of insured and uninsured damage in the Bahamas, catastrophe modelling firm Karen Clark & Company has estimated.
European reinsurers well-placed to absorb cat losses and take advantage of continued price increases: Fitch
The big four European reinsurers are well capitalised to absorb catastrophe losses and build on pricing increases that are expected to continue into next year, Fitch Ratings has said.
Ex-Complete Cover CEOs Allen and Beckett reunite for Markerstudy-backed MGA
The former CEO of Complete Cover Tony Allen has returned to the motor insurance market with a new Markerstudy-backed specialist managing general agent.
Insured losses from Hurricane Dorian estimated to top £20bn
Hurricane Dorian could inflict insured losses of up to $25bn (£20.7bn), according to analysts at UBS.
BoE governor Carney warns insurers over climate change
The Governor of the Bank of England has described climate as a “big, big issue” for general insurers and reinsurers.
Low first-half cat losses give reinsurers temporary respite as Typhoon Jebi losses continue to mount
Below-average catastrophe losses boosted the profits of reinsurers in the first half of 2019, according to Fitch Ratings.
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
Date set for Covéa legal action as Scor CEO hails ‘strong performance’ in H1 2019
Scor’s property and casualty division has seen growth in H1 2019, while legal action against Covéa and its CEO and chairman Thierry Derez will continue in 2020.
Gefion ordered to not expand business until it injects more capital
The Danish Financial Supervisory Authority has ordered Gefion to not expand into new territories.
R&Q and Phoenix terminate insolvent debt joint venture
Randall & Quilter and Phoenix Asset Management Partners have ended a joint venture deal to acquire reinsurance debt in insolvent estates.
Elite shoots for solvent scheme to avoid liquidation
Elite Insurance has proposed a solvent scheme of arrangement, in order to avoid a liquidator being appointed.
Guy Carpenter suspends senior boss following harassment claims
Exclusive: A senior boss at Marsh sister company Guy Carpenter has been suspended over “rude and offensive” comments about a female member of staff.
CBL creditors owed in excess of £90m
Creditors of CBL Corporation, the parent company of CBL Insurance, are expected to be owed in excess of £90m.
CBL Corporation placed into liquidation
The New Zealand high court has placed CBL Corporation into liquidation.
Clyde & Co establishes presence in Dublin ahead of Brexit
Clyde & Co has opened an office in Dublin to ensure its Irish law insurance practice can continue to operate seamlessly as the UK leaves the EU.
Esure turns to reinsurance to improve solvency coverage
Esure improved its solvency capital coverage ratio to 149% over the first quarter of 2019, having seen it drop to 108% at the end of last year.
Failed insurer Gable faces claims of £328m
Total claims against failed insurer Gable could add up to £328m, the company's liquidator said.
Bloody Bay files counterclaim in near $10m Besso ‘secret profits’ lawsuit
Exclusive: The litigation group claiming Besso owes a Carribean hotel group almost $10m in concealed brokerage has filed a counterclaim in an ongoing lawsuit.