week commencing 09/09/18:

With the annual Monte Carlo Reinsurance Rendezvous now closing for another year and the hurricane season set to deliver its first major storm we’re not short of news this week. As always, we’ve gathered our pick of the press for your convenience.


Hurricane Florence brings the storm to the US insurance industry
With Hurricane Florence making landfall on the East Coast of the US and expected to leave devastation in its wake, the insurance industry is braced for the fallout. External-link [Independent]


The Carlyle Group closes deal with Sedgwick
The Carlyle Group has closed a $6.7 billion deal to acquire a majority share of risk solutions provider Sedgwick. External-link [Intelligent Insurer]


Lloyd’s continues crack-down on loss-making syndicates
Lloyd’s syndicates have a period of weeks to turn in a business plan demonstrating their plans to make a profit. Those that fail to deliver will be closed. External-link [Intelligent Insurer]


RSG lining up first-quarter launch for reinsurance start-up
Ryan Speciality Group (RSG) is preparing to launch its reinsurance start-up early next year. External-link [Insurance Insider]


ILS market could cover significant share of hurricane loss
2017’s destructive hurricane season left the industry with losses in the billions of dollars to account for, and now it appears that the ILS market could bear up to $18 billion of it. External-link [Artemis]


Hamilton to establish US reinsurer group
Bermuda-based Hamilton is planning to set up a reinsurance group to get a slice of the $40 billion industry in the US. External-link [Insurance Day]


Axa sounded out XL Re deal before XL sale
It closed a $15.3 billion deal to acquire XL Group earlier this week, but before doing so Axa also approached several reinsurers to explore doing a follow-up purchase of XL Re. External-link [Insurance Insider]


UK General CEO steps down
Karen Beales, CEO of UK General, has left the insurer with immediate effect after 21 months in the job. External-link [Insurance Age]


Merriam Webster adds internet lingo to dictionary
Do you sometimes get so hangry you decide TL;DR? The Merriam Webster dictionary has gone so large on internet lingo in its new additions this year it’s almost bingeable. External-link [Mental Floss]


Note:

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