While the balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, underwriting discipline will be tested over the February 2018 renewal period, according to a report by A.M. Best. Intense competition, exacerbated by …
London is ill-prepared to become an early adopter of cutting-edge transport technology including driverless cars and retail deliveries by drone, according to the city’s lawmakers. While the U.K. government has predicted that connected and autonomous vehicles, or CAVs, will be …
PT Bank Danamon Indonesia, the nation’s fifth-largest lender by market value, is fielding interest from foreign suitors seeking a stake in its insurance subsidiary, people familiar with the matter said. Jakarta-based Danamon is working with an adviser as it weighs …
XL Catlin’s insurance operations announced that Tim Powell has been promoted to chief underwriting officer for international financial lines (IFL), effective March 1. Powell will be responsible for the underwriting performance of XL Catlin’s financial lines portfolio in all geographies …
It has almost become a refrain: just what is Masayoshi Son up to? After plowing money into companies as diverse as Uber Technologies Inc., office rental specialist WeWork Cos Inc. and fintech lender SoFi, the billionaire chief of SoftBank Group …
Independent specialty managing general agent Nexus Group announced it has completed the acquisition of Apsley Specialty Ltd., a registered Lloyd’s coverholder. Financial details of the transaction were not disclosed. Established in 2012, Apsley Specialty is a London-based specialist directors & …
Ryan Specialty Group LLC (RSG) announced it has reached a definitive agreement to acquire London-based Lodestar Marine Ltd., an MGA in the protection & indemnity (P&I) fixed premium marine market, from Tawa Associates Ltd.* Lodestar’s operations will become part of …
Hub International Limited (Hub), a Chicago-based insurance broker, announced it has acquired the shares of Canadian broker Kindersley Insurance Ltd. Terms of the acquisition were not disclosed. Headquartered in Kindersley, Saskatchewan, with an office in Dodsland, Kindersley Insurance Ltd. is …
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance, is to broaden the range of product lines underwritten by its French operation and increase the size of its team. It will also make a series of investments in its French …
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the launch of the first Lloyd’s market consortium for motor treaty business. The consortium, led by ArgoGlobal and supported by Barbican Insurance Group, was established in time for Jan. 1 …
