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The Hanover expecting $50m Q4 catastrophe hit
16th January 2019
Massachusetts-based property and casualty insurer The Hanover Insurance Group (THG) is expecting a $50 million pre-tax hit to its fourth quarter operating results due to catastrophe activity. This figure represents 4.6% of net premiums earned, an increase from THG’s Q418 assumption of 3.6%. Cat losses in the final quarter of 2018 are ... Read the full article
Top 100 U.S. Property & Casualty Insurance Companies
23rd November 2018
The largest P&C insurers in the United States This Top 100 U.S. Property & Casualty Insurance Companies directory is based on research data from rating agency A.M. Best. Listing the top property and casualty insurance companies in the United States, this directory provides a simple way to analyse the top P&C insurance companies ... Read the full article
China Re acquires Chaucer from The Hanover in $950m deal
13th September 2018
China Re, one of Asia’s leading reinsurers, has acquired The Hanover’s London-based Specialty business Chaucer in a deal that totals $950 million and accelerates the state-backed group's international development. The transaction includes a cash consideration from China Re of $865 million and a pre-signing dividend from Chaucer of $85 million, received ... Read the full article
The Hanover appoints Zurich VP Frank Baron as President of Alternative Markets
4th June 2018
Massachusetts-based property and casualty (P/C) insurer The Hanover insurance Group (THG) has appointed Frank M. Baron as the President of its newly formed Alternative Markets unit. A veteran of 30 years, Baron joins from Zurich where he served as Executive Vice President (VP) for over 5 years. Prior to that he ... Read the full article
The Hanover Insurance strengthens surety leadership team
31st May 2018
In a move that sees The Hanover Insurance Group (THG) expand capabilities for the growth and management of its transactional surety business, Carrick Bligh has been promoted to Vice President of Commercial Surety, effective May 1st, 2018. Bligh joined the firm six years ago, and brings 14 years’ industry experience to ... Read the full article
Chairman of The Hanover Insurance Michael Angelini announces retirement
17th May 2018
After more than 30 years of service to The Hanover Insurance Group’s (THG) board of directors longtime Chairman Michael P. Angelini has announced his retirement, effective May 16th, 2018. The governance guidelines of THG prohibit the continuation of directors beyond the age of 75. Having joined Hanover’s board in 1995 Angelini ... Read the full article
The Hanover explores alternatives for Chaucer business, including possible sale
29th March 2018
The Hanover Insurance Group, Inc. said today that it is exploring "strategic alternatives" for its London-based Chaucer business is underway, which could include a possible sale. A "review of strategic alternatives" is currently being undertaken by the firm, as it looks at its options for the Chaucer international specialty underwriting business ... Read the full article
Hanover & Chaucer Q3 losses reach $185m to $225m
6th October 2017
The Hanover Insurance has revealed third quarter catastrophe losses - including anticipated losses from hurricanes Harvey, Irma, Maria and the two Mexico earthquakes ranging from $185 million to $225 million before taxes and net of reinsurance. The firm's international specialty group, Chaucer, has retained losses from $115 to $135 million before ... Read the full article
Chaucer gets final approval for establishment of Dublin re/insurance branch
22nd June 2017
Specialist insurance and reinsurance group, Chaucer, has announced that it's received final approval from the Central Bank of Ireland to launch a Dublin-based entity to write global specialty insurance and reinsurance business. The new company will trade under the name Chaucer Dublin, and is likely another response to the UK's vote to ... Read the full article
Reinsurance News – Monday 27th March 2017
27th March 2017
Here’s your daily Reinsurance News for Monday 27th March 2017: Study suggests £4 billion Brexit impact to London reinsurance market According to Simeon Djankov, London School of Economics (LSE), Financial Markets Group Director, Brexit could result in an estimated £4 billion annual reinsurance revenue loss. Are heads still in the sand ... Read the full article
Reinsurance News – Tuesday 21st February 2017
21st February 2017
Here’s your daily Reinsurance News for Tuesday 21st February 2017: Ogden rate revision to result in huge re/insurer reserve charge: Willis Brokerage Willis Towers Watson has warned that the proposed revision to the Ogden discount rate would see reinsurers that operate in the UK motor industry face a £4.9 billion one-off ... Read the full article
Reinsurance News – Wednesday 30th November 2016
30th November 2016
Here’s your daily Reinsurance News for Wednesday 30th November 2016: Arch Capital to raise $950 million to help finance United Guaranty deal Arch Capital Group Ltd. is looking to raise $950 million in debt to help finance its acquisition of AIG's United Guaranty division. The firm also revealed that some ... Read the full article
Reinsurance News – Friday 18th November 2016
18th November 2016
Here’s your daily Reinsurance News for Friday 18th November 2016: New Zealand quake estimated at up to $3.5bn industry loss The magnitude 7.8 earthquake that struck the southern island of New Zealand recently could cost the insurance and reinsurance industry as much as $3.5 billion, according to AIR Worldwide. ... Read the full article
Reinsurance News – Friday 4th November 2016
4th November 2016
Here’s your daily Reinsurance News for Friday 4th November 2016: IAG adding to NZ quake reinsurance reflects ongoing loss creep It's been revealed that IAG New Zealand has extended its reinsurance cover to help pay for claims from the Canterbury quakes, purchasing $900 million of adverse development cover. Read the full article
Reinsurance News – Monday 26th September 2016
26th September 2016
Here’s your daily Reinsurance News for Monday 26th September 2016: The first downturn when reinsurers still make cost-of-capital: J.P. Morgan Analysts at J.P. Morgan have said that despite the softening reinsurance cycle and continued rate declines, the four big European reinsurers could still cover their cost-of-capital. Munich ... Read the full article