Intelligent Insurer News

SOBC DARAG, a subsidiary of run-off specialist DARAG UK, has launched a new office in Bermuda with four senior hires from Randall & Quilter, in a move aimed at "significant expansion" in North America and on the island.

Specialist insurer Hiscox has made two new appointments within its reinsurance and insurance-linked securities (ILS) business, and named chief underwriting officer for Hiscox USA.

Specialist insurer Markel has acquired a minority ownership interest in managing general agent (MGA) The Hagerty Group for a total consideration of $212.5 million.

Bermuda-based James River Group Holdings's chief executive officer Robert Myron is stepping down from the top position due to ill health, the company said July 31.

When it comes to insurance the personal touch is still key with sector contracts often closed on the strength of human relationships.

Broker Willis Towers Watson (WTW) reported “healthy growth” and expressed excitement about the completion of the TRANZACT acquisition, as the company unveiled its second quarter results for 2019.

Swiss Re has appointed Urs Baertschi as new CEO reinsurance EMEA, regional president and member of the group executive committee effective Sept. 1, 2018, replacing Russell Higginbotham.

Specialty re/insurer Chaucer has appointed Jonathan Sutcliffe to the newly created role of head of underwriting at Chaucer Insurance Company DAC in Ireland, which trades as Chaucer Dublin.

Broker Arthur J Gallagher has acquired US-based commercial retail property/casualty broker Gillis, Ellis & Baker.

Zurich-based global reinsurer Swiss Re's half year 2019 net profit fell despite strong reinsurance performance in both property/casualty and life & health segments and investment gains, due to losses stemming from natural catastrophes, Ethiopian Airlines crash, Boeing 737 MAX fleet grounding, and a large reserve charge for Corporate Solutions business.

Bermuda-based re/insurer AXIS Capital's CEO reports “strong” second quarter results were “made possible” by continuing improvement in core underwriting margins, operating return on equity of 12.3 percent, and a 6 percent growth in book value per share.

London-based specialty insurer Newline Group is expanding its global footprint by joining Lloyd’s representative office in Mexico City, to serve clients in Latin America and the Caribbean.

Markel’s co-chief executives pointed to “outstanding performance” in the insurer’s investment portfolio, with more than $1 billion of net investment gains in the first half of the year, as the company released its second quarter and half year results for 2019.

A flight to quality is underway in the insurance-linked securities (ILS) market, following disappointing performance in 2017 and 2018 according to a new survey by Intelligent Insurer’s sister publication Bermuda:Re+ILS.

Generali Country Italy and Global Business Lines has unveiled a new structure as part of its strategy to create a faster and more agile organisation.

Bermuda-based Arch Capital Group has agreed to acquire Barbican Group Holdings from funds managed by US alternative asset management firm Carlson Capital, in a move aimed at expanding its Lloyd’s and London market footprint. 

Broker Marsh & McLennan's chief executive Dan Glaser is "pleased" with the company's second quarter 2019 results, which include Jardine Lloyd Thompson (JLT) for the first time.

An inquiry examining Northern Australia’s insurance market has confirmed that providing household policies in the region “remains unprofitable for insurers”.

Specialist insurer Markel International has appointed Chris Burgess to head up its cyber team in London.

Bermuda-based specialty re/insurer Sompo International Holdings has entered into a strategic partnership with VGM Insurance & Financial Solutions (VGM) to offer its insurance products to golf courses and country clubs.