News

Insurance

BGC seeks to disrupt 'stacked' aviation market, launches new brokerage under JLT's Chad

BGC Insurance Group (BGCI), a division of global brokerage firm BGC Partners which owns Ed and Besso, is launching a new specialist global aviation and aerospace re/insurance intermediary under the leadership of JLT's Marcel Chad.   18 June 2019

Alternative Risk Transfer

FEMA grows NFIP flood reinsurance to $2.12bn with new $300m cat bond

The US Federal Emergency Management Agency (FEMA) has secured a $300 million reinsurance placement for the National Flood Insurance Program (NFIP) from the capital markets investors, brings the total flood cover to $2.12 billion.   23 April 2019

Insurance

Underwriting margins fall slightly for North American property/casualty insurers: Fitch

North American property and casualty (P&C) insurers have seen modestly weaker underwriting margins, Fitch Ratings has found.   6 September 2019

Insurance

QBE overhauls traditional claims model using data-driven solution

Re/insurer QBE has created a new data-driven solution to transform its legacy property claims process by automating non-complex claims, improving and speeding up the recovery process.   16 May 2019

Insurance

RenRe closes $1.5bn Tokio Millennium Re acquisition; AM Best removes reinsurer from 'under review'

Bermuda-based RenaissanceRe Holdings (RenRe) has completed the acquisition of Tokio Millennium Re (TMR) following the receipt of all necessary regulatory approvals.   25 March 2019

Insurance

JLT Specialty hires Aon senior managing director for M&A practice

JLT Specialty USA, a US subsidiary of Jardine Lloyd Thompson Group (JLT), has appointed Ted Dobos as executive vice president, leader of JLT’s West Coast M&A practice.   23 March 2018

Insurance

Pioneer picks former XL Catlin Canada boss Nick Greggains as new US CEO

Pioneer Underwriters, an underwriting group within Minova Insurance Holdings, has appointed Nick Greggains as new chief executive officer of its US operations. He joins from XL Catlin.   15 March 2019

Insurance

Beazley boosts financial lines offering in Asia via new Pegasus partnership

Specialty insurer Beazley has partnered with Hong Kong-based coverholder Pegasus Underwriting (PUL) to expand its financial lines offering in Asia.   11 January 2019

Insurance

Lloyd’s broker AFL taps chief commercial officer from JLT

Independent Lloyd’s broker AFL has appointed Jonathan Bines, formerly a specialty property & casualty senior partner at JLT, as chief commercial officer.   10 April 2018

Alternative Risk Transfer

ILS market robust even as catastrophe bonds suffer losses: Aon

The market for Insurance-Linked Securities (ILS) is resilient in 2019 with continued support for new issuance, despite hurricanes and other events leading to a challenging market.   6 September 2019

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