News

Insurance

Prudential Financial acquires 13% of Peak Re

US-based Prudential Financial (PFI) is acquiring a 13.1 percent stake in Hong Kong-based Peak Reinsurance Company via a wholly-owned subsidiary through an issuance of new shares.   13 February 2018

Insurance

Nexus strikes first of three M&A deals planned for 2018

Nexus Group has acquired Lloyd's coverholder and a specialist directors & officers and financial institutions (DOFI) MGA Apsley Specialty.   13 February 2018

Insurance

Underwriting profitability boosts Arch Q4 results

Bermuda-based Arch has improved its financial performance in the fourth quarter of 2017 as underwriting profitability improved.   13 February 2018

Insurance

Innovation may boost insurance revenues by $375bn

Insurance carriers globally could seize $375 billion in new revenue in the next five years by transforming and revitalizing their businesses, according to a new report from consultancy firm Accenture.   13 February 2018

Insurance

Ryan Specialty snaps up Lodestar Marine

Ryan Specialty Group (RSG) has reached a definitive agreement to acquire Lodestar Marine, a managing general agent (MGA) in the protection and indemnity (P&I) fixed premium marine market.   13 February 2018

Insurance

Florida insured losses from hurricane Irma reach $8bn

Total insured losses caused by hurricane Irma in Florida are estimated at $7.95 billion, according to latest information published by the Florida Office of Insurance Regulation.   13 February 2018

Insurance

Liberty unveils new e-trading credit platform

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, is launching a platform for transacting specialised trade credit insurance for banks, corporates and commodity traders, according to a Feb. 12 press release.   13 February 2018

Insurance

Everest taps senior excess casualty exec from rival Aspen

Everest Insurance has hired Jeff Mickletz as director and senior underwriter within the excess casualty division of Everest Specialty Casualty.   13 February 2018

Insurance

Cyclone Burglind (Eleanor) costs insurers €643m

Extratropical cyclone “Burglind”, also known as “Eleanor” caused insurers property losses of €643 million, according to estimates by insurance data provider PERILS.   13 February 2018

Alternative Risk Transfer

World Bank issues $1.36bn cat bond

The World Bank has issued its largest ever catastrophe bond covering earthquake, providing the organisation with $1.36 billion of capital markets protection.   7 February 2018

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