A hard market is traditionally where specialist insurers and forward-thinking capacity providers thrive. As such Floodflash co-founder Ian Bartholomew is confident new resilient insurance businesses will emerge from the post-pandemic economic downturn
Covéa will invest €1.5bn (£1.35m) with Exor and special purpose reinsurance vehicles managed by Partner Re, after its bid to buy the reinsurer fell apart earlier this year.
Hiscox swung into a loss for the first half of 2020 as it increased its Covid-19 claims hit estimate.
The new backers of Mulsanne Insurance Company had to invest £7m into the Gibraltar-based underwriter this April to meet solvency capital requirements.
Swiss Re has predicted $2.5bn (£1.96bn) of pre-tax Covid-19 losses in the first six months of 2020 will drive its half year results to a $1.1bn loss.
QBE has predicted it will deliver a $750m (£581.7m) post tax loss when its half year results for 2020 are published next month.
Munich Re was hit by €700m (£631.7m) of Covid-19 related reinsurance losses in the second quarter taking its year to date figure to €1.5bn, the reinsurer has revealed.
Capsicum Re’s new chairman Raja Balasuriya is a “force to be reckoned with,” CEO Rupert Swallow told Post as the reinsurance broker unveiled the executive committee team line-up designed to lead the business through its next phase of growth.
Tiger Risk has appointed Juan England as a partner with a mandate to help develop large, multi-regional clients in Europe and other international markets, the fourth recruit of the month for the rapidly expanding broker.
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
Axa XL has confirmed former Lloyd’s leader Sean McGovern as CEO for the UK and Lloyd’s market having held the role on an interim basis since April.
Arag has posted a 14.7% rise in turnover to £14.1m for the year to 31 December 2019.
Craig Thornton, general insurance and protection director for Lloyds Banking Group, succeeds former Ageas UK CEO Andy Watson as chair of the Association of British Insurers’ General Insurance Council.
Danish unrated insurer Gefion will enter solvent liquidation as the Danish regulator has chosen to withdraw its license, the insurer has said.
In the 30th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss what the future holds for managing general agents.
Markel International has stopped writing wholesale personal accident and contingency insurance as its refocuses the PACE portfolio exclusively on entertainment with immediate effect.
Lemonade will seek to raise up to $100m (£78.5m) via an initial public offering, with its prospectus shedding snippets of insight into its past, present and future.
PIB Group has added reinsurance broking to its offering by striking its second deal outside of the UK with the purchase of Munich-based Marx Re-Insurance Brokers.
Trade credit insurers operating in the UK market will receive up to £10bn of government guarantees, ministers announced today.
Markerstudy has opened a “redundancy consultation exercise”, the insurer has confirmed.
Briefing: Insurtech buys incumbent – is Hippo’s deal for Spinnaker a pointer to the future as unicorns spread their wings?
The news today that unicorn insurtech Hippo has entered into an agreement to acquire Spinnaker Insurance - subject to regulatory approval - certainly highlights the continued maturity of the sector.
Axa has estimated it will face €1.2bn (£1.07bn) in property and casualty coronavirus related costs along with spending €300m on ‘solidarity measures’.
Zego co-founder and CEO Sten Saar tells Emmanuel Kenning about the insurtech’s significant growth ambitions, how he came into the market nearly four years ago and why he is committed to it for the long haul
Direct Insurance Group has offered all staff the choice and flexibility of working from home, in the office or a mixture of the two on a permanent basis, Post can reveal.