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Christie Smythe
Published by this author:
Fema extends flood insurance renewal grace period
Policyholders will have a grace period of up to 120 days before coverage lapses.
Christie Smythe
,
21 May 2020
S&P revises PartnerRe outlook to stable after Covéa deal falls through
The action follows similar moves by AM Best and Fitch after a proposed $9bn sale was dropped.
Christie Smythe
,
16 May 2020
Hamilton ‘poised to pounce’ on M&A opportunities: Ursano
The insurance group’s CFO says his firm is still eagerly looking out for “the right” deals to pursue, even amid the pandemic.
Christie Smythe
,
15 May 2020
Fitch shifts PartnerRe outlook to negative after Covea deal scuttled
An earlier positive outlook had reflected an anticipated benefit from ownership by a larger P&C, health and life insurance organisation.
Christie Smythe
,
15 May 2020
Judge slams MMC subpoenas to CAC hires as ‘fishing expedition’
The judge also allowed MMC to amend a trade secrets suit over employee defections to add further allegations about Cobbs Allen.
Christie Smythe
,
09 May 2020
Argo expects ‘magnitude’ of Covid-19 property claims to fall: Rehnberg
The carrier’s chief executive officer said the “vast majority” of BI cover in the US has virus exclusions.
Christie Smythe
,
09 May 2020
Covid-19 will be an ‘inflection point’ on pricing: Duperreault
AIG “remains in a strong financial position” despite the pandemic, the executive said.
Christie Smythe
,
05 May 2020
AIG feels impact from Covid-19 losses in Q1
The General Insurance division reported an underwriting loss of $87mn, driven by $272mn in Covid-19 claims.
Christie Smythe
,
05 May 2020
Berkshire Hathaway would write pandemic cover for 'the right price': Buffett
Warren Buffett told shareholders that the company has so far faced limited claims impact from the coronavirus.
Christie Smythe
,
04 May 2020
Berkshire Hathaway Q1 underwriting profit slips amid pandemic
The company reported a 7 percent dip in underwriting income as it took a hit from $230mn in Covid-19 claims.
Christie Smythe
,
03 May 2020
RLI sees 500 claims so far from coronavirus
Craig Kliethermes says full exposure from US state government shutdowns “will take significant time to reveal” itself.
Christie Smythe
,
22 April 2020
RLI earnings dip amid Covid-19 uncertainty
The carrier reports operating earnings of $29.8mn for Q1, down about 7 percent from the first three months of last year.
Christie Smythe
,
22 April 2020
If insurers want to lead us out of this crisis, and not be ruined by it, they need to stick to the straight and narrow
If insurers want to lead us out of this crisis, and not be ruined by it, they need to stick to the straight and narrow.
Christie Smythe
,
21 April 2020
MMC subpoenas 13 CAC employees as defection litigation ramps up
Process servers showed up at some employees’ homes on Thursday evening to deliver documents, according to sources.
Christie Smythe
,
18 April 2020
Venbrook names Ahuja COO to oversee top-line growth
Sonia Ahuja comes to the Los Angeles-based wholesale broker from Farmers Financial Solutions.
Christie Smythe
,
16 April 2020
P&C sector well-positioned for Covid-19 but ‘regulatory creep’ lurks: AM Best
The ratings agency discussed impacts from the pandemic and noted that it is still awaiting responses to a “stress test” questionnaire.
Christie Smythe
,
10 April 2020
Enstar reaches $465mn reinsurance deal for Lyft legacy reserves
The carrier has agreed to reinsure legacy business underwritten by Zurich from 1 October 2015 to 30 September 2018.
Christie Smythe
,
01 April 2020
Illinois theatres and restaurants sue insurer over Covid-19 business losses
The entities allege that Wisconsin-based Society Insurance should provide coverage for "necessary suspension" of business.
Christie Smythe
,
01 April 2020
Biba cancels 2020 conference over Covid-19 risks
The event was due to be held in Manchester Central on 13 and 14 May 2020.
Christie Smythe
,
24 March 2020
Pandemic product saw no takers before coronavirus: Marsh broker
Marsh is now seeking new carriers to cover pandemics as demand for its PathogenRX product rises.
Bernard Goyder
,
18 March 2020
Cruise line suit signals possible wave of coronavirus D&O claims
The case is likely the first over alleged misrepresentations to investors about the virus.
Christie Smythe
,
17 March 2020
US insurance stocks tumble as businesses, schools shut
The S&P 500 insurance index was down more than 13 percent at market’s close, while some insurers dropped more than 20 percent.
Christie Smythe
,
17 March 2020
CAC appoints O'Neil as SVP in financial lines legal and claims
Carrie O'Neil most recently served as senior vice president at JLT Specialty, leading the financial lines legal and claims team.
Christie Smythe
,
10 March 2020
Greenlight Re underwriting loss narrows to $15.8mn in Q4
The hedge fund reinsurer also posted improvements in investments for Q4 as it weighs strategic options as part of a review process.
Christie Smythe
,
10 March 2020
US P&C industry swings to underwriting profit in 2019: AM Best
Underwriting income for the industry climbed $4.9bn from the previous year, driven by growth in net premiums earned, according to AM Best.
Bernard Goyder
,
07 March 2020
IRB Resseguros ratings placed under review by AM Best
The Brazilian reinsurer's ratings were placed under review with negative implications after the sudden departure of its CFO and CEO.
Christie Smythe
,
07 March 2020
Stamping Office of Texas appoints new executive director
Greg Brandon, formerly of Valero Energy, succeeds interim executive director Don Meyer at the regulatory body.
Christie Smythe
,
07 March 2020
Reinsurer enthusiasm cools on InsurTech capacity deals
Munich Re's move to pull back capacity to Hippo comes as reinsurers are looking more cautiously at InsurTechs.
Bernard Goyder
,
06 March 2020
Atlantic Specialty settles with NBC Universal over war exclusion
The production company sought coverage after violence in Israel caused it to change filming locations for the show “Dig”.
Christie Smythe
,
06 March 2020
HW Kaufman completes acquisition of Barbican Protect
The UK-focused property and casualty MGA will become part of HW Kaufman's Burns & Wilcox platform.
Christie Smythe
,
05 March 2020
PartnerRe posts $188mn non-life underwriting loss
The Bermuda-based carrier’s non-life underwriting loss in Q4 widened 181 percent compared with the previous year.
Christie Smythe
,
03 March 2020
Berkshire Hathaway 2019 P&C underwriting profit falls 79%
P&C reinsurance losses widen, while underwriting earnings at Geico and in primary insurance deterioriate.
Christie Smythe
,
22 February 2020
ProAssurance strikes $450mn deal to acquire Norcal
Fitch placed ProAssurance ratings on negative watch following the announcement of the acquisition, noting concerns about the medical professional liability space.
Christie Smythe
,
21 February 2020
Insurers settle Frenchman’s Reef claim for $247mn
The resort’s owner said it had settled its dispute with XL, Lloyd’s underwriters and US Fire over a Hurricane Irma claim.
Christie Smythe
,
21 February 2020
FedNat discloses $12mn in pre-tax Q4 adverse development
The carrier said the charge mainly stems from non-core business, including $5.5mn from commercial general liability.
Christie Smythe
,
20 February 2020
Fairfax units ‘ready to expand’ in 2020: Watsa
The Canadian carrier's insurance units are looking to take advantage of a favourable rate environment.
Christie Smythe
,
15 February 2020
Fairfax investment performance drives Q4 profit
The Toronto-based firm reported net earnings of $24.62 per share, beating consensus by a wide margin.
Christie Smythe
,
14 February 2020
AIG saw $320mn gross reserve hit from US financial lines
Pre-adverse development cover, the carrier saw impact from directors’ and officers’ and mergers and acquisitions-related business.
Christie Smythe
,
14 February 2020
‘Signs of discipline’ emerging in reinsurance: Arch’s Grandisson
The carrier is seeing increasing submission levels and “much improved pricing” in facultative reinsurance.
Christie Smythe
,
12 February 2020
Arch sees Q4 earnings boost from lower cat losses
The Bermudian reported operating earnings of $0.74 per share for Q4, up 61 percent from the same period a year earlier.
Christie Smythe
,
12 February 2020
Market shifting from ‘U’ to a ‘W’: Everest Re’s Doucette
The executive told analysts that reinsurance rates are starting to climb in certain areas, offering opportunities.
Christie Smythe
,
11 February 2020
Insurance comparison site The Zebra raises $38.5mn
The series C fundraising round was led by Accel and joined by other investors including Weatherford Capital.
Christie Smythe
,
06 February 2020
Severity appears ‘stable’ in primary casualty: Greenberg
The comments came as Chubb shares rose more than 6.3 percent following the release of fourth quarter results.
Christie Smythe
,
05 February 2020
CAC Specialty hires ex-Deutsche Bank financier as CFO
Chris Trotter will have the same role at parent Cobbs Allen.
Christie Smythe
,
03 February 2020
While some large companies have shown huge rate rises, business trends for smaller firms shouldn’t be ignored
When looking at rate trends for large directors’ and officers’ (D&O) accounts, one could call the situation a tale of two markets.
Christie Smythe
,
29 January 2020
By leaving their policyholders stranded, insurers risk harming the reputation of the entire industry
Poor Giant Eagle.
Christie Smythe
,
22 January 2020
McGriff non-compete declared mostly ‘void’ for CAC hire McCollister
The ruling is another blow to McGriff in its battle over the loss of senior employees to the rival.
Christie Smythe
,
21 January 2020
Chubb hits back at Target in payment card claim dispute
The lawsuit over $74mn in losses from a 2013 data breach is closely-watched by the cyber insurance market.
Christie Smythe
,
17 January 2020
A note of caution for brokers: when it comes to captives, look before you leap
The self-insured sector looks set to boom but the segment – and the intermediaries that serve it – are coming under increased scrutiny.
Christie Smythe
,
16 January 2020
CAC slams Marsh USA poaching lawsuit as ‘paper thin’
CAC asked a judge to throw out a suit over the hiring of 30 employees and leave allegations involving Mike Rice to arbitration.
Christie Smythe
,
11 January 2020
Windhaven placed into liquidation by Florida judge
A state regulator has determined that efforts to rehabilitate the auto insurer would be "useless".
Christie Smythe
,
09 January 2020
Marsh JLT Specialty settles poaching case against NFP
The broking giant also resolved its case against four former employees who left for the smaller rival.
Christie Smythe
,
04 January 2020
Assurant president and CEO for Canada steps down
Paul Cosgrove will succeed Bob Zanussi, who is retiring from his roles as president and CEO of the Canadian operations.
Christie Smythe
,
03 January 2020
The Hanover announces commercial lines leadership changes
Mitchell was appointed president of middle market, while Grieco was made chief product and underwriting officer for commercial and specialty.
Christie Smythe
,
03 January 2020
Axis, Gen Re and TransRe drop off NFIP reinsurance panel
The government-run flood insurance provider secured $1.33bn in reinsurance coverage for 2020.
Christie Smythe
,
03 January 2020
AIG’s Browne joins Berkshire as UK, Europe head of casualty
Hilary Brown most recently served as head of casualty, international for AIG.
Christie Smythe
,
28 December 2019
Alliant hires Vaught from Marsh for Houston office
Karey Vaught has joined Alliant as an executive vice president, serving US energy and marine clients.
Christie Smythe
,
24 December 2019
The Hartford curbs coal and tar sands underwriting and investment
The decision follows a similar move by Liberty Mutual earlier this month to curtail business and investment involving those fossil fuels.
Christie Smythe
,
20 December 2019
Marsh JLT Specialty nears settlement with NFP hires
Lawyers for the parties told a judge it has “agreed in principle” to settle the case against four former JLT Specialty staff members.
Christie Smythe
,
20 December 2019
The best anti-poaching strategy for brokers is to convince staff not to leave rather than to sue them
Hardly a month goes by these days without a legal brawl breaking out between rival insurance brokers over employees decamping from one to another.
Christie Smythe
,
18 December 2019
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