Reinsurance
Scor launches €300m contingent capital facility
Scor launched a three year contingent capital facility in form of a contingent equity line, providing the group with €300m (£254.6m) coverage in case of extreme natural catastrophe or life events impacting mortality.
Bermudian premier David Burt targets innovative insurers
The Bermudian premier David Burt has sung the praises of his country’s insurance market as a “sandbox” for innovative insurers and called on the London market to collaborate on efforts to drive the sector forwards.
Gallagher set to buy up Capsicum Re
Gallagher is poised to snap up the remaining 80% of Capsicum Reinsurance Brokers, having signed heads of terms with the business.
MS Amlin CEO Simon Beale steps down as insurer restructures
MS Amlin CEO Simon Beale is stepping down as parent company MS&AD restructures the insurer as part of an international reorganisation.
Lloyd’s launches ‘speak up’ campaign with culture under the spotlight
Lloyd’s has launched a campaign to encourage people to speak up over “unacceptable behaviour”, after its culture survey revealed less than half of respondents felt comfortable in raising concerns.
Gallagher boss Simon Matson apologises for 'insensitive comments'
Simon Matson, UK CEO of Gallagher, pictured, has said sorry for the “insensitive comments” he made which came to light in the staff and business poaching court case the firm lost to Ardonagh this October.
Vibe syndicate to enter run off
Vibe will place Syndicate 5768 into run off at the end of the year.
Lancashire appoints UK chief underwriting officer
Lancashire has appointed its UK chief underwriting officer from within, with incumbent Hayley Johnston set to become CEO of its Bermuda arm.
Munich Re sees man-made major loss claims quadruple for third quarter
Munich Re reported "relatively high" man-made major loss claims, which were more than four times the hit it took in Q3 last year.
Analysis: Under the skin of Lloyd's Blueprint One
Lloyd’s has published Blueprint One: the first of a number of ‘blueprints’ it intends to produce over the coming years as it overhauls the market for the 21st century
Swiss Re suspends share buy-back programme as nat cats bite
Swiss Re has cancelled a share buy-back programme, following a hit from natural catastrophes, capital deployment and the suspension of Reassure's initial public offering.
CBL Corporation delists from New Zealand Stock Exchange
CBL Corporation has delisted from the New Zealand Stock Exchange, effective from close of play today.
B3I blockchain firm 'will need a lot of money to build our vision' says CEO
Blockchain company B3I, which boasts a plethora of big-name shareholders among its backers, will focus on building its product rather than chasing more funding in the immediate future, B3I CEO John Carolin told Post at a launch event.
This month: Celebrations, climate change and culture
In this month’s issue Post published the annual top 100 Insurers, a list of the UK's biggest insurers ranked by non-life gross premium written in 2018, in association with AM Best.
MS Amlin to withdraw from nine lines of business
MS Amlin is to withdraw from nine lines of business that “no longer form part of its future strategic direction” as part of a wider restructure following an underwriting review.
Analysis: Reinsurance rates - breaking the cycle
Reinsurance rates have started to rise after a series of natural disasters in 2017 and 2018, but the increases are not being seen across the board.
Typhoon Faxai insured losses could hit $9bn: RMS
Catastrophe modelling firm RMS has estimated that the insured losses from Typhoon Faxai in Japan will be in the range of $5bn to $9bn (£4.1bn to £7.3bn).
Scor’s battle with activist investor rumbles on amid Covéa legal action
Activist investor CIAM has blasted Scor's strategy as "without significant intrinsic value creation" in a letter to the resinsurer's lead director, following reports in the French media on its collapsed merger talks with Covéa.
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.