Content from L.S. Howard
Amazon Pulls Plug on UK Home Insurance Venture
Amazon has pulled the plug on its UK home insurance venture – a comparison website – after launching in October 2022. "Over the last year, we have been evaluating various businesses and programs, ...
Reinsurers’ Casualty Appetites Varied, but Capacity Was ‘Ample’ During 1/1 Renewals
Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance ...
Insured Price Tag for Natural Disasters Was $95B in 2023 With Economic Cost of $250B
Natural catastrophes in 2023 caused global economic losses of $250 billion, with insurers and reinsurers paying $95 billion of that amount, according to Munich Re.
A merger between Aon and NFP will be a win-win for both brokers, creating a company that will be greater than the sum of its parts. While those weren't the exact words ... CFC, the London-based managing general agent, announced that its founder and group CEO, David Walsh, and Graeme Newman, CEO of CFC Underwriting, will be exiting the ...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’
This year's January reinsurance renewals were described by brokers as "stable," "predictable," "orderly," "calmer," "disciplined," with "increased appetites" and a return to supply/demand balance. ...
Loss-Impacted U.S. Programs Among Those Seeing Biggest 1/1 Prop. Cat Re Price Hikes
While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further ...
Aon-NFP Merger a Win-Win for Middle Market Segment, Aon Says
Parent of Key SiriusPoint Shareholder In Receivership; Ratings Impact Neutral
SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, announced that the parent company of a key shareholder has been taken into private receivership by its lenders in Singapore. CMIG ...
US DOJ Slaps Criminal Fines on UK Brokers Tysers and H.W. Wood for Bribery
The U.S. Department of Justice has slapped criminal penalties on UK reinsurance brokers Tysers Insurance Brokers Ltd. and H.W. Wood Ltd. as a result of their participation "in a corrupt scheme to pay ...
CFC Executives Walsh and Newman to Step Down After Lloyd’s Misconduct Probe