Chubb

Tokio Marine HCC, Chubb, IQUW and BluNiche are also on the tower.

Patel was recognised for services to charity and Riley for business leadership and inclusion

The insurer plans to automate around 85% of key functions surrounding underwriting and claims processes.

Plus, the latest people moves and all the top news of the week.

Approached for comment, Chubb denies that it submitted “an offer” for AIG.

The Marsh-placed account renews its all-risks cover on 16 November.

Lack of major cat events could add further pressure on 1 January pricing.

Total pre-tax favorable prior period development in the quarter was $361mn, up nearly 48% YoY.

Brian Church has spent 20 years at Chubb.

Sane had been with Beazley for 13 years.

The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.

In March 2024, Cowen was appointed to lead Chubb’s new international transactional liability platform.

The claim hits the downstream market following a loss-hit start to the year.

Jim Williamson said litigation funding had evolved into an investment class.

The executive replaces Mike Warwicker, who left the firm earlier this year.

Burford’s CEO said Chubb is inappropriately using its corporate power.

Philip Enan joins following 11 years at Chubb.

The programme will succeed the previous buyback launched in 2023.

Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.

AIG, HDI Global and others have settled. Chubb’s fight continues.

The facility provides up to $100mn in claims-made excess casualty coverage.

A positive outcome could significantly curb insurers’ exposure to the loss.

Of the 178 passengers and crew on board, no serious injuries have been reported.

Last year, the firm consolidated financial and excess liability lines under the leadership of Richard Porter.

The two Asian companies wrote $265mn net premiums in 2024.

Ana Robic will succeed Furby as EMEA regional president.

Andy Houston will be based in London, reporting to Mark Roberts, division president UKISA.

The carrier has been reducing its exposure to the area where the wildfires occurred by over 50%.

New entrants have contributed to competition in the class of business.

The company’s stock price has plummeted in the wake of the LA wildfires.

The cargo market has recently seen a string of moves as new carriers launch into the market.

The carrier can write marine on company and Lloyd’s platforms after the Probitas deal.

The storm caused major damage to one of the drinks company’s warehouses in Tennessee.

The CEO said the property market was in a “super-good place”, and increased competition was inevitable.

London market carriers may be getting competitive, but that is not in itself a bad thing.

The commercial carrier also reported a Hurricane Milton pre-tax net loss forecast of $250mn-$300mn.

The CEO noted, however, that the UK retail market remains a big business growing well.

Mark Gregory will retire next March, while Sara Mitchell will initially join as a strategic adviser.

The insurer also pushed up its retention by $650mn.

The cyber market should use the latest outage to start decisively taking action on managing cat aggregates.

A roundup of all the news you need today, including Lloyd’s chairman candidates.

Peter Kelaher currently serves as country president of Australia and New Zealand.

It is understood that the executive will report to Scott Meyer, now COO for NA Insurance.

Marcos Gunn and Federico Spagnoli have been promoted as a result.

A round-up of all the news you need today, including the departure of the heads of FL and PI at Westfield.

Arch, Axa XL, Beazley, Chubb, Hiscox, Howden, MS Amlin and TMK are participating.

The PVT team will be part of a new crisis management unit under Luke Powis.

With the appointment, current division president David Furby will step down from the role.

This is Chubb’s second MGA deal in the past few months.

Property rates remain adequate, although price increases are tailing off.

There is a high likelihood the property claim will be subrogated.

The value of the bridge is estimated at $1.2bn.

However, it doesn't prove a mutual is a wrong concept for the cyber market.

The project is not immediately moving forward due to lack of client demand.

This publication revealed Chubb was planning to re-enter the London TL market.

Mo joins from Chubb, where she was country manager for Sweden.

Strong reinsurance results have absorbed long-tail reserve charges.

Chubb withdrew from writing transactional risk in London and all territories outside the US in 2020.

The newly created role will see Frederico Spagnoli oversee Chubb’s consumer lines in 51 countries.

Chubb declared at the last minute that it would not contest the English court’s jurisdiction, in contrast to every other reinsurer being sued by aircraft lessors.

The newly launched offering will cover media liability, cyber, property, terrorism, casualty and legal expenses.

At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.

Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.

The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.

The consortium is supported by 11 other Lloyd’s businesses.

Sources have said the layer will provide the carrier with protection for the Northeast US only and attaches at a remote level.

The carrier was originally in the market for extra capacity at January 1 before pulling plans.

Edward Kopp will be succeeded in his current role as president of Chubb Korea by Janice (Jae-Kyung) Mo – the first woman to lead a general insurance business in Korea’s history.

The CEO said Chubb has ‘never seen better pricing’ on primary property.

O’Donnell will focus on strategic and tactical operations within global reinsurance alongside his continuing responsibility for Chubb Tempest Re USA.

The cargo market is undergoing staffing turmoil as firms vie to secure talent.

The Singapore aviation hub is part of a strategic regional focus for the aviation team from Chubb Global Markets.

The executive will be responsible for the growth and profitability of the carrier’s casualty lines in 51 countries and territories outside North America.

The executive will have responsibility for lines including property, casualty, professional lines, energy and marine.

In early January, the company completed the transactions to increase its position in Huatai to 64.2% from 47.3%.

Personnel movement in the class remains elevated as carriers look to secure top talent while underwriting conditions are profitable.

Chubb has experienced high turnover within its marine team in the past year.

Benoit Chasseguet will be succeeding Veronique Brionne following her decision to leave the company.

The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector. 

Wayne Ashley will report to Jim Wixtead, senior vice president of Chubb group and president of Chubb Tempest Re.

Maria Guercio, Melanie Markwick-Day and Jared Concannon join the unit as executives.

Evan Greenberg addressed questions about property cat reinsurance on a Q1 earnings call.

Excluding agriculture, Chubb’s P&C CoR rose to 85.9% in Q4 from 85.4% the prior-year quarter.

Chris Collins will report into Simon Abbott in his new role, and will help the carrier expand its airline portfolio.

The hire comes after the carrier recently appointed AGCS’ Chris Turberville to lead the hull team.

New demand for reinsurance cover that was expected to come to the market around the January renewals is being reined in as insurers recognise the extent of the hardening market.

Alex O’Brien succeeds David Kirk, who retained his cargo product head responsibilities following his promotion to head of marine in July.

Analysts said attachment points are now far behind the rate of inflation over the period.

Prior to approval, the commercial carrier owned 47.3% of the Chinese insurance group.

Sources said Miami-based Everest fac VP Sean Berry is set to move to London as head of international property.

Chubb has seen several exits from its marine team this year and restructured its leadership.

The insurer takes a $1bn retention on US losses but could have made some reinsurance recoveries.

With significantly lower retentions, AIG, Assurant and Allstate are more likely to pass the cost of the hurricane onward to their reinsurers.

The appointment comes following the departure of Renette Pretorius, who is joining Berkshire Hathaway Specialty Insurance.

The executive has worked at the carrier for over nine years, initially within the accident and health team.

Josh Hearnden becomes the second recent acquisition to the Mosaic PV team of late, following the news in May that Luke Bennett was joining from WRB Underwriting.

In his new role, Martin Audis will be based in London and will report to Nigel Griffiths, regional head of general aviation.

The investor will manage a portion of the Bermudian’s assets.

The market is taking its first proactive steps to resolve issues posed by the massive systemic exposures it is running.

The resignations follow the exit of hull chief James May, who is joining Convex.

David Kirk will oversee CGM’s marine portfolio underwritten in the London wholesale market.

QBE Europe’s UK surety manager Tom Johnson is leaving the company and looks set to join Chubb, Insurance Insider can reveal.

Shareholders approved a second proposal asking for a report detailing how Chubb is addressing greenhouse gas emissions.

Plus this week’s Q1 results and all the top news of the week.

The carrier split its specialty composite treaty into two contracts to get its programme home.

The carrier has extended the limit to $1.275bn for the year to 31 March 2023.

The figure was partially offset by $15mn of pre-tax unrealized gains, bringing a total net realized and unrealized loss of $58mn.

Conditions for SPAC D&O are likely to remain turbulent, amid the heightened SEC scrutiny and uncertainty concerning claims resolution.

The new lead underwriter has almost 30 years’ experience including stints at Chubb, Faraday and Howden.

Chubb has also received demands from shareholders for more information on its climate-related policies.

The appointment comes after Allison Wilkinson departed Chubb to join Convex.

The insurer expects to close the transaction during 2022 upon Chinese regulatory approvals.

The senior underwriting figure will lead one of the bigger aviation portfolios in the London market.

Nathalie Meyer, Nikolay Dmitriev and Christian Graber have been promoted to fill Dawn Miller’s shoes, was she leaves to join Lloyd’s as commercial director.

Based in London, Janet Edey will be responsible for developing Chubb’s financial lines business in the UK, Ireland and South Africa.

Chubb has promoted Emma Walker to the head of aerospace role for Chubb Global Markets, giving her responsibility for managing and developing the carrier’s global aerospace portfolio.

Analysis of financial data shows that the last decade has seen a marked increase in the proportion of premiums ceded by carriers in all sectors.

The transaction will near-double the size of Chubb’s A&H book and increase its Asia premium from $4bn to $7bn.

The former South Africa A&H head will return to London for his new role.

Nazir boasts 20 years of industry experience, and has served at Chubb for nearly four years.

Nine (re)insurance firms in London took part in the programme for career-break women, organised by diversity and inclusion firm Inclusivity and supported by the Insurance Families Network.

Convex has been building out its FI team, which is headed up by Allison Hollern.

The surge likely reflects talk in the buy-side community fuelled by tracking the latter's private jet.

Industry veteran Hilda Toh has been promoted to oversee P&C strategy for the three countries, after her predecessor Mark Roberts was given the division president role.

Poliquin will oversee product, business development, underwriting operations, and overall profit and loss performance for Chubb’s property and casualty businesses in Latin America.

Chubb names Ben Campey and Chris Templeton as senior managers for its United Kingdom and Ireland casualty team.

The carrier has also promoted Sara Mitchell and Mark Roberts to top Emea roles.

Staff movement has been high in the sector, as new capacity returns to the market after years of correction.

Nicholas Hawkins, Chubb’s Peter Kelaher and Munich Re’s Scott Hawkins take director roles at the Australian industry organisation.

The Chubb CEO seeks to quash speculation the carrier may return with a sweetened takeover proposal.

Plus in-depth analyses of the accident and health and airlines markets.

Chubb reiterates its disappointment about The Hartford’s refusal to engage.