Insurance news

• Generali hires Ryan as chief investment officer

  12-12-2016 21:50
  Italian insurer Generali named Timothy Ryan as group chief
  investment officer.
  Ryan will take up the position on 9 January and replace Nikhil
  Srinivasan, who Generali said is leaving to "pursue new
  professional opportunities in investment management."
  Ryan is a US and UK citizen and has previously held roles with
  AXA Investment Managers and AllianceBernstein, Generali said.
  The insurer announced the move along with news that Generali
  Italia CEO Marco Sesana will become country manager of Italy.
  
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• London carriers fall as Novae contagion spreads

  12-12-2016 19:19
  London (re)insurers Beazley, Hiscox and Lancashire have suffered
  drops in their share prices today as investors re-evaluated the
  stocks in the wake of Novae's profit warning last week.
  As of 1515 GMT Beazley had fallen 3.42 percent to 373.2p, Hiscox
  was down 2.79 percent to 991.5p and Lancashire was trading down
  3.88 percent at 643.5p.
  Barclays analyst Claudia Gaspari adjusted price targets for
  Lancashire and Hiscox in a note this morning after shares of London
  market compatriot Novae plunged as
  
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• Digital Fineprint closes investment round with help from Twitter VP

  12-12-2016 18:17
  
  Insurtech start-up Digital Fineprint has closed a $400k (£315k) seed investment round.
  
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• MGAM to manage underwriting for new MGA

  12-12-2016 17:21 via insuranceage.co.uk
  
  Jason Anthony’s firm is to look after underwriting for newly launched Corin Underwriting.
  
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• Aspen Re expands sidecar to $130mn

  12-12-2016 16:49
  Aspen Re has increased the size of its sidecar, Silverton Re, to
  $130mn for 2017, it announced today.
  Silverton Re took an additional $5mn of capital from third party
  investors at the December 2016 renewals on top of the $125mn raised
  the previous year.
  Aspen is investing $25mn in the vehicle, the same level as last
  year.
  Aon Securities acted as the placement agent.
  The capital is being raised through the issuance of Series
  2017-1 participating notes that will mature...
  
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• Resignations at Endsleigh and Zurich

  12-12-2016 15:19
  
  Trudi Archer and Rachel Would have left the business.
  
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• Neon appoints Hulst as NED

  12-12-2016 15:02
  Former Ariel Re CEO Tom Hulst has joined Neon Bermuda as a
  non-executive director.
  Gavin Hunter, the former chairman and president of specialist
  (re)insurance consultancy BenchStrength International, has also
  been appointed to the board as a non-executive director.
  Prior to joining Ariel Re Hulst held various positions within
  the Gen Re group, including a stint as a treaty account executive
  and vice president of financial products.
  Hunter was previously COO of North American (re)insurance
  softwa
  
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• Aspen Insurance hires London casualty chief

  12-12-2016 15:02
  Aspen's insurance arm has appointed Leanne Bellows as its head
  of global casualty in London.
  Bellows will report to international head of excess casualty
  Donnacha Smyth.
  She replaces Nicola Wood, who left Aspen Insurance last year.
  Assistant underwriter Nick Ashdown has been running the portfolio
  on an interim basis since Wood's departure.
  Bellows joins the insurer from Starr Companies, where she served
  as US business development manager for US excess casualty in the
  London arm of the New York t
  
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• GRP-backed agency adds software house and sets GWP target

  12-12-2016 14:36
  
  New deal to contribute to ambitious target for GRP-backed agency
  
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• CG Holdings launches new MGA Corin Underwriting

  12-12-2016 13:48
  
  Casualty & General Insurance Company Europe’s parent company CG Holdings is launching Corin Underwriting Limited, a managing general agent to handle its UK and Irish casualty risks.
  
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• New York Life puts Seguros Monterrey up for sale

  12-12-2016 13:13
  New York Life is running an auction to sell Mexican life insurer
  Seguros Monterrey, The Insurance Insider
  can reveal.
  Sources suggested New York Life was targeting a price tag of
  around $1.2bn to $1.5bn, but it is understood that first round bids
  came in below those expectations.
  The would-be seller hired Credit Suisse to run the auction in
  the summer. First round bids arrived in October, sources told this
  publication.
  It wasn't immediately clear which companies lodged offers
  and New...
  
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• Allianz CEO: growth target 'more challenging'

  12-12-2016 13:13
  Allianz CEO Oliver Bäte has admitted his target of increasing
  earnings by 5 percent a year between 2015 and 2018 had become
  harder because of the election of Donald Trump as US president and
  the Brexit vote in the UK.
  But in an interview with The Financial Times published
  today he reiterated that mass job cuts were not on the agenda.
  "We have a societal duty... to not suddenly say that
  5,000 colleagues have to go," he said. "I just don...
  
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• Nine out of 10 Hanjin container claims handled by Cunningham Lindsey

  12-12-2016 13:09
  
  Nine out of 10 container claims from the collapse of the Hanjin Shipping line are being handled by loss adjuster Cunningham Lindsey.
  
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• Zurich agrees Cover-More takeover

  12-12-2016 11:22
  Zurich has agreed to buy Australia-based travel insurer Cover-More
  Group for A$741mn ($552mn).
  The agreement highlights Zurich's increased focus on its
  retail business, following several disposals on the commercial side
  and cost-cutting as part of CEO Mario Greco's reform
  programme.
  The takeover, through a scheme of arrangement, values Cover-More
  at A$1.95 per share, about 48 percent more than Cover-More's
  Friday (9 December) closing share price of A$1.32. The deal assigns
  a fully diluted price
  
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• Helvetia appoints additions to its executive management

  12-12-2016 11:06
  
  Adrian Kollegger and Achim Baumstark will join Helvetia Group as head of non-life Switzerland and chief technology officer, respectively.
  
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• Helvetia adds two members to executive management

  12-12-2016 11:06
  
  Adrian Kollegger and Achim Baumstark will join Helvetia Group as head of non-life Switzerland and chief technology officer, respectively.
  
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• Video: A broking minute with John Lumley

  12-12-2016 11:00
  
  The managing director of Lumley Insurance takes on our broking minute challenge.
  
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• #insagepeople: 12 - 18 December 2016

  12-12-2016 10:55
  
  Keep up to date with all the latest people moves.
  
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• Cheryl Agius appointed GI CEO at L&G

  12-12-2016 10:21
  
  Agius moves over from Legal & General’s strategic pension risk transfer team.
  
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• SME Now and the future: Focus on small fleet

  12-12-2016 10:10
  
  Technology is radically changing the way brokers should be approaching findingcover for commercial cars and vehicles, explains Edward Murray
  
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• Products round-up: Bonanza of high rolling products

  12-12-2016 10:00
  
  With the winter weather finally upon us and the season of festivity fast approaching, the industry has graced the market with products that protect high ticketed items
  
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• Legal & General names new GI boss

  12-12-2016 09:46
  
  Legal & General appoints new GI boss from within
  
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• Zurich acquires Australian travel group Cover-More for A$741m

  12-12-2016 08:45
  
  Insurance giant Zurich is aiming to become a top three global travel insurance provider after an agreement to buy Sydney-headquartered group Cover-More for A$741m (£439m).
  
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• Sentencing uncertainty in certain times?

  12-12-2016 08:00
  
  In May, Scottish Power Generation pleaded guilty to a non-fatal breach of Section 2(1) of the Health and Safety at Work Act 1974.
  
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• North of the Border: Sentencing uncertainty in certain times?

  12-12-2016 08:00
  
  In May, Scottish Power Generation pleaded guilty to a non-fatal breach of Section 2(1) of the Health and Safety at Work Act 1974.
  
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