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Record ILS issuance in Q3

Intelligent Insurer News - 6 November, 2018 - 10:54
A record-high $1.6 billion of non-life insurance-linked securities (ILS) capacity was issued in Q3, 2018, according to Willis Re.

Greenlight Re posts Q3 loss driven by investments, underwriting

Intelligent Insurer News - 6 November, 2018 - 10:51
Cayman Islands-based Greenlight Capital Re has posted a loss in the third quarter of 2018 driven by investment and underwriting losses.

Swiss Re unit hires NA property, specialty lines head from XL

Intelligent Insurer News - 6 November, 2018 - 10:51
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has appointed Michael LaRocca as head property & specialty lines North America.

Validus poaches JLT political risks head in the US

Intelligent Insurer News - 6 November, 2018 - 10:51
Validus Specialty, a subsidiary of Bermuda-based re/insurer Validus Holdings which is now a part of American International Group (AIG), has hired a senior JLT executive to lead its US political risk and credit insurance team based in New York.

Insurtech-related patents soar globally year on year

Intelligent Insurer News - 5 November, 2018 - 16:34
Investment in insurtech continues to increase exponentially, the latest filings of insurance-related patents has proved with figures jumping by 40 percent between 2016 and 2017, research by law firm RPC has shown.

Willis posts solid growth in Q3; reinsurance unit up 5%

Intelligent Insurer News - 5 November, 2018 - 16:14
Willis Towers Watson enjoyed solid growth and a big turnaround in its profits in the third quarter of 2018, which increased to $85 million in the period, a big turnaround of 254 percent on the loss of $54 million it made in the same period the year before.

Miller unveils new equity partners as senior brokers retire

Intelligent Insurer News - 5 November, 2018 - 16:04
Miller Insurance Services has made a series of senior appointments to replace a group of four long-serving executives that are retiring at the end of 2018.

WKFC Underwriting hires property CUO from Arch Insurance

Intelligent Insurer News - 5 November, 2018 - 16:01
WKFC Underwriting Managers, a part of Ryan Specialty Group (RSG), has appointed Arch Insurance's Mark Reisig as chief underwriting officer, property, based in Melville, New York.

Rate increases boost growth at Hiscox in first nine months

Intelligent Insurer News - 5 November, 2018 - 11:04
Re/insurer Hiscox enjoyed solid growth across all its lines of business, including its reinsurance book, in the first nine months of 2018 driven by a mixture of increased rates and new business.

Primary units boost results at Berkshire Hathaway; Gen Re enjoys strong growth

Intelligent Insurer News - 5 November, 2018 - 11:02
Berkshire Hathaway’s insurance entities posted an underwriting profit of $441 million in the third quarter of 2018, a big turnaround on the same period a year earlier when they made a loss of $1.44 billion thanks to several large cat events.

QBE merges Asia, European units; creates role of group CUO

Intelligent Insurer News - 5 November, 2018 - 10:59
Re/insurer QBE has unveiled plans to consolidate its Asian and European operations into a "large and better resourced" international division; it will also merger its Pacific business with its Australian & New Zealand operations.

Markel creates standalone marine/energy divisions as profit rises

Intelligent Insurer News - 5 November, 2018 - 10:59
Specialist insurer Markel International has created two new standalone divisions for marine and energy, and appointed Chris Fenn and Julian Samuel as managing directors of the businesses.

Cyber and D&O now interlinked: whitepaper by Airmic, Marsh, AIG

Intelligent Insurer News - 5 November, 2018 - 10:59
Cyber insurance and directors’ and officers’ (D&O) liability insurance go hand in hand now that company business models increasingly revolve around technology, according to a white paper published by Airmic with support from Marsh and AIG.

SOBC DARAG joint venture closes first US run-off deal

Intelligent Insurer News - 5 November, 2018 - 10:58
SOBC DARAG, a joint venture between US-based run-off specialist SOBC and European legacy acquirer DARAG, has acquired Florida-based Peachtree Casualty Insurance Company.

Occam bolsters management with new CFO from Ironshore

Intelligent Insurer News - 5 November, 2018 - 10:58
Occam Underwriting, a specialty lines-focused managing general agent (MGA), has appointed a cyber security professional to its board, and an Ironshore executive as its new chief financial officer (CFO).

Buyers: The most important people in the room

Intelligent Insurer News - 5 November, 2018 - 10:43
Despite recent losses, buyers seem to retain the upper hand in negotiations as we move into the renewals. On this basis, some are taking the opportunity to fine-tune their reinsurance programmes; others are even seeking rate decreases—Intelligent Insurer spoke to four of them for their take on the state of negotiations.

Fairfax Financial ensures Q3 cats to produce solid results

Intelligent Insurer News - 2 November, 2018 - 10:42
Fairfax Financial Holdings, which owns a number of re/insurers including Allied World, Brit and Zenith National, posted a solid net profit in the third quarter of 2018 despite exposure to a number of natural catastrophes in the quarter.

TransRe sees steady growth but posts underwriting loss in Q3

Intelligent Insurer News - 2 November, 2018 - 10:34
Reinsurer TransRe, which is owned by Alleghany Corporation, enjoyed some growth in the third quarter of 2018 but made an underwriting loss as a result of exposure to various catastrophes in the third quarter.

Alleghany enjoys strong growth but outside insurance sector

Intelligent Insurer News - 2 November, 2018 - 10:34
Alleghany Corporation, which owns reinsurer TransRe and insurers RSUI and CapSpecialty, enjoyed strong growth in the third quarter of 2018 – but this was mainly driven by non-insurance related revenues. Its profits were also hit by exposure to losses from natural catastrophes.

S&P puts RenRe’s ratings on outlook negative post TMR deal

Intelligent Insurer News - 2 November, 2018 - 10:22
S&P Global Ratings has revised its outlook on Bermuda-based RenaissanceRe Holdings and its operating subsidiaries to negative from stable following its acquisition of Tokio Marine Holdings' reinsurance platform for $1.5 billion.

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