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Laura Sanicola
Published by this author:
Property market braces for $250mn-$300mn Tyson facility claim
Axa XL leads the Arkansas-headquartered food company’s property programme, according to market sources.
Laura Sanicola
,
30 August 2019
JLT’s captive practice leader Towle departs
Marsh’s captive practice leader Ellen Charnley will continue to lead the unit, this publication understands.
Laura Sanicola
,
27 August 2019
Downgrades outpace upgrades in H1 2019: AM Best
The commercial lines segment of the P&C industry recorded 11 upgrades and 13 downgrades in H1 2019.
Laura Sanicola
,
27 August 2019
Tropical storm Dorian could strengthen to hurricane by Tuesday
Dorian is the fourth named tropical storm of the Atlantic hurricane season.
Laura Sanicola
,
26 August 2019
Commercial property overtakes auto in rate hardening race: CIAB
New data from CIAB shows commercial property saw rates rise by 8.5 percent in 2019’s second quarter owing to wildfires and midwestern losses.
Laura Sanicola
,
23 August 2019
B3i adds first Chinese shareholder
The addition of China Pacific Insurance Group comes weeks after IRB Brasil Re’s $3.9mn investment.
Laura Sanicola
,
22 August 2019
Liberty Mutual names lead excess casualty and public entity CUOs
The two will report to David Perez, EVP and general manager of national insurance specialty.
Laura Sanicola
,
21 August 2019
Hamilton completes Pembroke acquisition
The deal doubles Hamilton’s total premium base on a pro forma basis to $1.1bn.
Laura Sanicola
,
21 August 2019
E&S property hardening picks up as admitted market sheds business
More disciplined underwriting and increased submissions are driving rate in the property space.
Laura Sanicola
,
20 August 2019
PG&E’s liability for 2017 Tubbs Fire will be decided by citizen jury
The decision, made by a US bankruptcy judge, sent PG&E shares plummeting by as much as 30 percent on Monday.
Laura Sanicola
,
20 August 2019
Brown & Brown acquires agricultural agency
CKP will operate as a new stand-alone office within Brown & Brown’s retail segment.
Laura Sanicola
,
16 August 2019
Willis Re’s Rubenstein returns to Guy Carpenter
This publication understands that the hire comes as the Guy Carpenter looks to further strengthen its capabilities in mutuals space.
Laura Sanicola
,
15 August 2019
Ohio Insurance Department aims at modernising with new hires
Hamlin will serve as policy adviser for emerging products and Demory will be in charge of the new positions to assist in agency oversight.
Laura Sanicola
,
14 August 2019
FedNat receives approval to close Maison deal
The acquisition is now slated to be completed soon after 30 November.
Laura Sanicola
,
14 August 2019
Arch sues USC over $215mn sex abuse settlement
The insurer says it shouldn’t have to cover the university’s settlement because the policy contained an abuse and molestation exclusion.
Laura Sanicola
,
14 August 2019
NRA probed by NY regulator over possible insurance kickbacks: report
The move follows regulatory scrutiny in other states over the offering of Carry Guard policies.
Laura Sanicola
,
13 August 2019
Ascot taps Allied World's former Bermuda-based excess casualty team
The team includes Allied World’s Bermudian branch manager for excess general casualty Patrick Kenahan.
Laura Sanicola
,
12 August 2019
Hiscox’s GL line underwriter Waddell to join Convex
At Convex, Nick Waddell will be reunited with former Catlin casualty colleague Dan Curran.
Catrin Shi
,
12 August 2019
ProSight debuts with underwriting profit in Q2
The Morristown, New Jersey-based specialty carrier posted a combined ratio of 98.1 percent.
Laura Sanicola
,
09 August 2019
Sompo GRS forms small business team
Sompo GRS mid-market leader Matt Burns will oversee the small business team.
Laura Sanicola
,
09 August 2019
Third Point Re transfers additional $400mn to fixed income investments
The investment changes will support the company’s continued push into the property catastrophe space.
Laura Sanicola
,
08 August 2019
Third Point Re affirms CEO, posts improved profit in Q2
The Bermudian total return (re)insurer affirmed Daniel Malloy as CEO and appointed him to the company’s board of directors.
Laura Sanicola
,
08 August 2019
Altamont acquires Topa for undisclosed sum
Topa Equities will maintain a minority stake in the specialty insurer following the deal's closing.
Laura Sanicola
,
07 August 2019
FedNat will hold shareholder meeting ‘shortly’: Braun
The CEO discussed the company’s response to a lawsuit by Capital Returns Management during a conference call Wednesday.
Laura Sanicola
,
07 August 2019
HCI misses Q2 consensus on reserve strengthening
The combined ratio was 92.9 percent, a deterioration of 3.6 percentage points from the prior-year period.
Laura Sanicola
,
07 August 2019
FedNat swings to underwriting loss on wind and hail events
FedNat’s combined ratio was 101.5 percent, up 2.5 percentage points from the prior-year period.
Laura Sanicola
,
07 August 2019
Greenlight Re liquidation a 'remote' possibility: Einhorn
Chairman David Einhorn noted Credit Suisse has relationships with a “broad number of strategic partners”.
Laura Sanicola
,
06 August 2019
Floridian carriers grapple with weather losses and AOB in Q2
The three Sunshine State carriers that reported earnings last week suffered operating losses in the quarter.
Laura Sanicola
,
06 August 2019
Axis, AIG and Axa XL hold largest gross exposure to Capital One cyber loss
Further details of the cyber placement show the risk is fairly evenly spread across the US, Bermuda and London markets.
Catrin Shi
,
06 August 2019
Greenlight Re retains Credit Suisse to conduct strategic review
The Simon Burton-led reinsurer's move follows heavy investment losses and an AM Best revision of its financial strength rating outlook to negative.
Laura Sanicola
,
06 August 2019
Allied World Bermudian casualty team leader Kenahan departs
Patrick Kenahan and at least three members of his team are thought to have left the company.
Laura Sanicola
,
05 August 2019
Hudson Structured hires Sangster, promotes Bardon
The two will be partners at the Bermudian asset manager.
Laura Sanicola
,
03 August 2019
‘Fraud will continue’ in Florida despite AOB reform: Heritage’s Lucas
Heritage was one of several Floridian carriers that experienced a surge in assignment of benefits (AOB) claims before 1 July.
Laura Sanicola
,
02 August 2019
Heritage underwriting results hurt by cats in Q2
Despite a 105 percent combined ratio the Floridian carrier beat Wall Street’s expectations by $0.05.
Laura Sanicola
,
02 August 2019
FHCF will pick up ‘vast majority’ of Irma loss development: Universal
The carrier’s gross loss from the hurricane has now increased to $1.1bn.
Laura Sanicola
,
02 August 2019
Hiscox US appoints Megan McConnell CUO, replacing Micheals
Andrew Dolphin moves into McConnell's previous role as director of underwriting at Hiscox Re in London.
Laura Sanicola
,
01 August 2019
James River’s Myron returns CEO role to Abram due to health
Myron will continue at the company as president and COO.
Laura Sanicola
,
01 August 2019
Axis ‘rightsized’ US E&S property portfolio: Benchimol
Axis made “substantial” reductions to property exposures that caused the segment’s gross written premium to decline by 25 percent.
Laura Sanicola
,
31 July 2019
US grocer sues XL and Zurich over $225mn opioid liability cover
The Pennsylvania-based grocer has been named in multiple lawsuits by plaintiffs seeking to recover billions of dollars over opioids.
Laura Sanicola
,
31 July 2019
FedNat investor Capital Returns sues for shareholder meeting
The activist has filed a lawsuit in Florida state court alleging that FedNat is in violation of Florida law.
Laura Sanicola
,
31 July 2019
Aon taps Guy Carpenter’s Fleming for executive post
Market sources said he will begin his new role in mid-September.
Laura Sanicola
,
31 July 2019
US property submissions are going up 'substantially': Grandisson
The executive said certain excess and surplus (E&S) business – including property -- is flowing back to the US from Lloyd’s and other markets.
Laura Sanicola
,
30 July 2019
Total return reinsurer Watford Re posts 5.8% ROE in Q2
The investment portfolio produced a 1.1 percent return on average net assets, with a net investment income of $23.8mn.
Laura Sanicola
,
30 July 2019
California judge slashes $2bn jury award to $87mn in Roundup case
The judge said that the punitive damages were higher than constitutional limits set by the US Supreme Court.
Laura Sanicola
,
29 July 2019
Willis appoints insider Foster to global cyber role
Foster has spent more than 14 years at the broker.
Laura Sanicola
,
29 July 2019
PG&E’s insurers propose plan to get utility out of bankruptcy
The plan calls for the voluntary reduction of claims to $16bn, which would be converted into equity.
Laura Sanicola
,
27 July 2019
PartnerRe sees Q2 net profit rise 128% year on year
The reinsurer’s non-life combined ratio deteriorated by 1.9 points to 92.8 percent.
Laura Sanicola
,
27 July 2019
NatGen’s homeowners’ QS sees 6-7 point ceding commission decline
The renewal reflects significant repricing for the quota share following several cat losses in the period.
Adam McNestrie
,
26 July 2019
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