NewsM&AFleming files for stay of order to complete JRG Re acquisition by 16 AprilFleming Intermediate Holdings has filed an application for a stay of the preliminary injunction that ordered the Eric Haller-led firm to complete its previously agreed acquisition of James River Group’s JRG Re by 16 April.Wed 10 Apr 2024
NewsPeople MovesRT Specialty promotes Murrey to president of commercial lines binding authorityWholesaler RT Specialty has named Jason Murrey as president of its commercial lines binding authority business.Wed 10 Apr 2024
NewsPeople MovesVictor names Marsh veteran McDougald president of US specialtyVictor has appointed Tim McDougald as president of its US specialty underwriting business with responsibility for overall growth, innovation and talent development at the MGU platform in the region.Wed 10 Apr 2024
NewsMarch CPI report: Motor vehicle insurance pricing increases 22.2% YoYThe cost of motor vehicle insurance continues to rise, with a 22.2 percent increase year-over-year from March 2023 to March 2024, according to the latest CPI report.Wed 10 Apr 2024
NewsPeople MovesNormanMax adds TransRe's head of ceded retro Korobeinikova as director of underwritingFort Lauderdale, Florida-based MGA NormanMax Insurance Solutions has appointed Tanya Korobeinikova, former head of ceded retro at TransRe, as its new director of underwriting.Wed 10 Apr 2024
Results PreviewResultsBofA, KBW: Personal lines growth, strong reinsurance results expected in Q1 earningsAnalysts at Bank of America and KBW are predicting strong first quarter results for reinsurers and improving personal lines results driven by a mild quarter for cat losses, but anticipate commentary among CEOs about weakening casualty trends.Wed 10 Apr 2024
NewsPeople MovesAxis names MacGregor to succeed Robson as Global Markets underwriting headAxis Capital has promoted Rory MacGregor to head of underwriting for Axis Global Markets following the announcement that incumbent Alistair Robson is to retire at the end of June.Wed 10 Apr 2024
TV News in FocusNovatae’s Kerr: Bretton Wood deal will help us seize Lloyd’s opportunityNovatae Risk Group plans to utilise its newly acquired London platform to help build coverholder programs in the Lloyd’s market, according to CEO Richard Kerr.Wed 10 Apr 2024
NewsBrokingEx-Arch distribution head Lee launches start-up broker Ambition Risk ServicesFormer Arch Insurance distribution leader Tony Lee has launched Ambition Risk Services, a start-up broker targeting small and middle market clients along with public sector opportunities, The Insurer can reveal.Wed 10 Apr 2024
NewsCitizens on course to shrink below one million policies this year as depop gathers paceCitizens president Tim Cerio has told the Florida state-backed carrier’s board that it is set for a “very successful” depopulation in 2024, and is expected to shrink by more than budgeted projections after colleagues yesterday suggested policy count could drop below a million by year end in the absence of a major weather event.Wed 10 Apr 2024
NewsPeople MovesFarmers names Nationwide’s Coleman business insurance presidentFarmers has appointed former Nationwide small business insurance senior vice president Eric Coleman as president of business insurance, effective 10 April.Wed 10 Apr 2024
NewsFundraisingNovidea raises $30mn from HarbourVest as total funding hits $120mnBroker platform insurtech Novidea has raised $30mn from HarbourVest Partners, bringing its total Series C round to $80mn and its total funding to date to $120mn.Wed 10 Apr 2024
NewsPeople MovesSPG names Lemonade’s Spindler chief product officerSpecialty Program Group (SPG) has appointed former Lemonade head of underwriting Jennifer Spindler as chief product officer in the US.Wed 10 Apr 2024
NewsPeople MovesWhite Mountains hires Farmers’ Harrison as EVP, promotes Caffrey to presidentWhite Mountains Insurance Group has appointed Giles Harrison as executive vice president and chief strategy officer, effective 10 June, and named CFO Liam Caffrey president.Wed 10 Apr 2024
ExclusiveInland marineArgo hires Markel’s Saunders as head of inland marine in latest management build-out stepArgo has hired former Markel, Allianz, Travelers, and Great American executive Julie Saunders as head of inland marine, The Insurer can reveal.Wed 10 Apr 2024
CommentRenewalsReinsurance market finds stability after four years of hardeningFlorida’s Citizens and its broker Gallagher Re have gone out to the traditional reinsurance market this week with the submission for its newly combined personal lines account, commercial lines account and coastal account placement.Wed 10 Apr 2024