Inside FAC February 2019
Looking ahead to this year’s Oscars, one thing seems likely – the star of Mexican director Alfonso Cuarón is set to continue rising.
Carriers in the bloodstock/livestock and contingency markets are unlikely to see claims from the equine flu outbreak that brought UK horse racing to a standstill for nearly a week, Inside FAC has learned.
More London market underwriters have decided to withdraw their capacity from Mexican (re)insurance business as the mismatch between rating and underlying risks continues to disappoint carriers.
The fire that destroyed a warehouse belonging to online supermarket Ocado is expected to be a £100mn ($128mn) loss to the firm’s property programme, Inside FAC understands.
Standard Club has set aside its plan to set up an MGA in place of its now-defunct Lloyd’s syndicate, sister publication The Insurance Insider has learned.
Willis Towers Watson’s corporate risk and broking (CRB) division, which includes the broker’s facultative operations, reported fourth-quarter revenue of $812mn in 2018, an increase of 5 percent in both organic and constant currency terms on the prior-year period.
StarStone’s construction head Tom Wylie has left the company, along with much of the carrier’s construction and engineering team, according to sister publication The Insurance Insider.
Property broker Amanda Lee has joined Miller’s Singapore operation as the firm seeks to expand its specialty business offering in Asia.
Brazil’s National Mining Agency has ordered the evacuation of around 500 people in an area downstream of the Gongo Soco mine in the southeastern state of Minas Gerais, following the collapse of a tailings dam at another mine in the state.
Insured losses from the catastrophic flooding in the northeastern Queensland city of Townsville have now increased to A$606mn ($429.51mn), according to the Insurance Council of Australia (ICA).
The cargo market has reined in the expected loss it is facing from a fire in a warehouse belonging to US luxury retail store chain Macy’s in November last year.
Loss creep associated with hurricanes Harvey, Irma and Maria (HIM) took total insured catastrophe costs for 2018 “significantly higher” than the headline figure of $80bn, according to JLT Re.
Aon’s reinsurance solutions division recorded 8 percent organic growth in revenues for the fourth quarter of 2018, driven in part by strong global growth in facultative placements.
RenaissanceRe is planning wide-ranging cuts in the Bermuda and London teams at Tokio Millennium Re (TMR) following the $1.5bn takeover announced in October last year
Beazley has reported a pre-tax profit of $76.4mn for the full year 2018, down from $168mn in 2017, following $145mn of early autumn and fourth quarter natural catastrophe losses and a lower investment result.
As the property D&F market begins to get its discipline back, Antares’ Conor Finn says the firm’s binder portfolio has enabled it to provide deeper long-term relationships with clients
Climate change is a major challenge for the Australian D&F (re)insurance sector, writes Helen Yates
Australian freefall, rate on line revisions, over-capacity, #Metoo… there’s hardly a dull moment in the financial lines market, as Marcus Alcock discovers
Channel Syndicate 2015 has confirmed it has hired former Brit active underwriter Nick Forti for a similar role at the Scor-owned Lloyd’s platform.
As British horseracing gets back to business after a six-day shutdown, prompted by an equine flu outbreak, London market players can return to the betting shops, safe in the knowledge that the Betfair Hurdle and Denman Chase cancelled at Newbury will now be running at Ascot this weekend.