American International Group (AIG) has been unable to win broad market support for a financial institutions (FI) quota share that it first brought to market this spring, The Insurance Insider can reveal
TransRe's agreement to act as Gen Re's underwriting manager in the broker reinsurance market should be accretive to parent company Alleghany's earnings, but threatens to further squeeze lower tier reinsurers, according to Janney analyst Larry Greenberg.
Fitch has issued a white paper in which it criticises the rating system of rival AM Best for an alleged lack of comparability with other agencies.
Shariah-compliant managing general agent (MGA) Cobalt Underwriting has stepped up its plan to launch a Lloyd's syndicate and is currently on track for a 1 January start date, The Insurance Insider can reveal.
Former Northern Marine Underwriting (NMU) underwriting director Gerry Sheehy is set to launch a marine managing general agent (MGA) named Fiducia within the next few months, The Insurance Insider understands.
Unrated Liechtenstein-based insurer Gable Holdings has instructed its broker network to cease writing new business with immediate effect while it works to restructure the business.
Various marine protection and indemnity (P&I) clubs are contracting out of parts of the Insurance Act after becoming concerned about the remedies for breaching the duty of making a fair presentation.
Munich Re has paired up with New York-based InsurTech start-up Slice Labs to distribute on-demand coverage in the US.
Californian broker Alliant has been accused of another raid on its rival intermediaries
Six carriers are expected to pay out $35mn under a directors' and officers' policy after a discount flooring company was found to be selling products that contained formaldehyde.
Assurant scaled back both its limit purchased and retention as it restructured its core US property catastrophe reinsurance programme at the recent 1 July renewal.
New York-based insurer Kingstone Companies bought 40 percent more limit on its catastrophe excess-of-loss reinsurance programme this year as it targets an upgrade to an AM Best A- rating.
Neon appoints Dougall; R&Q acquires class 3 insurer; TMK launches ecommerce platform; XL Catlin launches Africa unit; Sompo Canopius appoints US finpro chief; Morocco drafts systemic risk rules; MAS considers capital requirements; AmTrust buys MGA Arc Legal; Blue Capital pre-announces Q2 cat losses; AJG acquires stake in Brim; Qatar Re hires Zurich trio; AM Best upgrades IFG's ICR; RKH Specialty hires P&I broker; Beale: Brexit will not impact India business; Barbican Protect hires Bleakley;
A canvassing of those using the London market's electronic placing platform has revealed a belief that the technology could play a part in making the terrorism underwriting market even more soft.
Lancashire's Lloyd's arm Cathedral has appointed Marion Madden as managing director, The Insurance Insider can reveal.
David Leathem, founding and underwriting partner at Channel Syndicate, has resigned five years after joining the firm, The Insurance Insider understands.
Global reinsurers suffered double-digit share price retreats during the second quarter, while Bermuda suffered a modest decline and London ticked up, analysis from The Insurance Insider shows.
The top 10 insurance-linked securities (ILS) funds lifted their collective assets under management (AuM) by 7.7 percent in the half-year to 1 July to reach $48bn, sister publication Trading Risk reported earlier this month.
Second quarter catastrophe losses will only have a small impact on the (re)insurance sector, panellists agreed at the Guernsey ILS Insight event in Zurich on 7 July.
Nephila's fronting partner Allianz Risk Transfer has more than doubled its target size for a second Blue Halo Re cat bond issuance to $225mn, sister publication Trading Risk reported.
The UK Court of Appeal has overturned a ruling that forced RSA to pay hundreds of thousands in additional costs from a pirate attack on a cargo vessel.
Independent broking house Lockton's Kansas City office has accused JLT and one of its senior executives of fraud after the rival intermediary allegedly breached a confidentiality agreement in a bid to steal clients.
XL has settled its portion of a lawsuit with Walmart after the US supermarket giant reportedly paid damages to US actor and comedian Tracy Morgan, who was almost killed in a collision with one of its trucks.
Companies in The Insider 30 saw their closing share prices remain relatively in line with the previous week at close on Friday (15 July), as the market waits for the second quarter results season to begin.
Share price data on The Insurance Insider's universe of P&C (re)insurers
A wave of (re)insurers have pre-announced catastrophe losses ahead of the second quarter results season, giving advance notice of the damage that a number of events will do to their underwriting performance.