Reinsurance
Sun Capital injected £7m into Mulsanne as SCR fell below 100%
The new backers of Mulsanne Insurance Company had to invest £7m into the Gibraltar-based underwriter this April to meet solvency capital requirements.
Post Magazine celebrates 180th birthday
This weekend Post Magazine celebrated its 180th birthday given the first issue appeared on Saturday 25 July 1840.
Swiss Re pegs H1 Covid-19 losses at $2.5bn
Swiss Re has predicted $2.5bn (£1.96bn) of pre-tax Covid-19 losses in the first six months of 2020 will drive its half year results to a $1.1bn loss.
Munich Re adds €700m to Covid impact total
Munich Re was hit by €700m (£631.7m) of Covid-19 related reinsurance losses in the second quarter taking its year to date figure to €1.5bn, the reinsurer has revealed.
Insurance Covid-Cast: Black Lives Matter focus - Q&A with the first minority-led tier-one insurance and reinsurance broker Protecdiv
For the 34th episode of Post and Insurance Age’s video series content director Jonathan Swift sat down with the founders of Protecdiv, a business that claims to be first minority-led tier-one insurance and reinsurance broker.
Gallagher-backing and US opportunities will help drive growth, says Capsicum Re boss Swallow
Capsicum Re’s new chairman Raja Balasuriya is a “force to be reckoned with,” CEO Rupert Swallow told Post as the reinsurance broker unveiled the executive committee team line-up designed to lead the business through its next phase of growth.
Analysis: The Covid crunch in insurer results
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Tiger Risk unveils fourth hire of the month
Tiger Risk has appointed Juan England as a partner with a mandate to help develop large, multi-regional clients in Europe and other international markets, the fourth recruit of the month for the rapidly expanding broker.
Gable liquidator warns of ‘everlasting’ bankruptcy proceedings as it writes off £72m
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
Axa XL confirms Sean McGovern as CEO UK and Lloyd's market
Axa XL has confirmed former Lloyd’s leader Sean McGovern as CEO for the UK and Lloyd’s market having held the role on an interim basis since April.
Turnover up but profits slip at Arag
Arag has posted a 14.7% rise in turnover to £14.1m for the year to 31 December 2019.
Fidelis takes total 2020 financing past $1bn with debt raise
Fidelis has again increased its capital reserves through a $300m debt raise, meaning the specialty insurer and reinsurer has now raised in excess of $1bn in capital this year.
Insurance Covid Cast: Reinvigorating the workforce post-pandemic
In the 27th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss what the insurance sector has learnt over the last three months - and how it might shape the employer-employee relationship when offices re-open.
Analysis: From tragedy to tragedy – a year of challenges and change for aviation
After a tough year, driven by some of the most costly claims in history, 2020 threatens to change the face of the the aviation industry as the coronavirus pandemic spreads across the globe. Post investigates the impact on aviation insurance.
Lancashire and Fidelis secure capital boosts
Lancashire has raised £277m through the placing of 39.6 million new shares at a price of 700p per share – a 3.6% discount on its stock price at the close of Tuesday trading, while fellow specialist insurer and reinsurer Fidelis has announced that it has…
Lancashire to raise £287m in anticipation of accelerated hard market return
Lancashire will look to raise £287m through the placing 39.6 million new shares, representing 19.5% of the company’s existing issued share capital, in order to take advantage of a return to hard market conditions.
Deal pipeline 'vibrant' as ever says PIB's McManus as Germany buy adds reinsurance to roster
PIB Group has added reinsurance broking to its offering by striking its second deal outside of the UK with the purchase of Munich-based Marx Re-Insurance Brokers.
Interview: Zego CEO Sten Saar
Zego co-founder and CEO Sten Saar tells Emmanuel Kenning about the insurtech’s significant growth ambitions, how he came into the market nearly four years ago and why he is committed to it for the long haul
Direct Insurance stakes industry first claim with permanent remote working choice for staff
Direct Insurance Group has offered all staff the choice and flexibility of working from home, in the office or a mixture of the two on a permanent basis, Post can reveal.
Global recession 'like a car crash without an airbag', says Swiss Re
The global recession triggered by Covid-19 is “like a crash without an airbag” according to Jérôme Jean Haegeli, group chief economist at Swiss Re.
R&Q reveals record profits as it unveils growth ambitions
Randall & Quilter Investment Holdings has reported a 180% rise in pre-tax profit from continuing operations to £40.1m for the year ended 31 December 2019.
Blog: Global reinsurance market - what can we expect to see from 2020?
Very few people have 20/20 vision and there is no exception to this when looking forward to what impact the year 2020 will have on the reinsurance market writes Gavin Coull, London Forum of Insurance Lawyers executive committee member and partner at…
Analysis: The parametrics push powers on
Parametrics has been around for a while but a slew of new entrants means it is now poised to make its mark on UK general insurance
London Market report shows steady commercial share but reinsurance declines
The London Market was responsible for $110bn (£89.7bn) of premium in 2018 with 8.1% year on year core growth across property, casualty and financial lines, according to the latest research by the London Market Group.