News

Insurance

Cobbs Allen hires former JLT US CRO Payne to build broking business

US-based enterprise risk management agency Cobbs Allen has hired former JLT US chief revenue officer (CRO) David Payne as part of plans to expand its insurance brokerage business.   6 August 2019

Insurance

DARAG strikes legacy portfolio transfer deal with German re/insurer SOVAG

European legacy acquirer DARAG Group has signed a new portfolio transfer agreement with German re/insurer SOVAG. The legacy book comprises direct insurance and inwards reinsurance business.   5 August 2019

Insurance

Prudential strikes longevity reinsurance deal with Phoenix Group

Prudential Financial, through its business unit Prudential Retirement, has entered into a longevity reinsurance agreement covering UK retirees with life and pensions consolidator Phoenix Group.   5 August 2019

Insurance

Hudson Structured Capital Management hires former Validus CFO Jeff Sangster

Re/insurer Hudson Structured Capital Management (HSCM Bermuda) has appointed Jeff Sangster to the post of partner, chief financial officer (CFO) and head of strategy.   5 August 2019

Insurance

Allianz appoints Heidi Shepherd as commercial motor portfolio manager

Insurer Allianz has appointed Heidi Shepherd to the post of commercial motor portfolio manager, responsible for the profitable growth of complete mini fleet, taxi and truck products.   5 August 2019

Insurance

Ed hires Brit Singapore CEO David Lim for Asia Pacific expansion

London-based reinsurance, wholesale and specialty broker Ed has appointed David Lim as CEO of retail, Singapore and head of marine, Asia Pacific.   5 August 2019

Insurance

Berkshire Hathaway reinsurance reports significant losses in Q2 and H1 2019 results

Total net earnings for Berkshire Hathaway Inc were up in the second quarter of 2019 and in the half year compared to 2018 but the firm’s reinsurance group reported significant pre-tax underwriting losses.   5 August 2019

Insurance

Swiss Re ReAssure buys Quilter's UK closed book business for £425m after IPO suspension

Swiss Re's ReAssure is acquiring Quilter's UK closed book business, consisting of Old Mutual Wealth Life Assurance and its subsidiary Old Mutual Wealth Pensions Trustees, including about 300 employees, for a total consideration of £425 million.   5 August 2019

Insurance

Allianz on track for 2019 targets, second quarter net income up 13.1%

German insurer Allianz enjoyed a strong second quarter 2019 with operating performance and net income rising above estimates, but its property/casualty operating profits fell back due to lower investment earnings.   5 August 2019

Insurance

Gallagher Bassett acquires Adjusting Associates for UK expansion

Risk management firm Gallagher Bassett (GB) is acquiring the assets of loss adjusting and claims management firm Adjusting Associates to further expand its size and offerings in the UK.   5 August 2019

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