week commencing 03/11/19:

If the latest round of politicians’ posturing and pontificating is already starting to make you feel queasy, our round-up of the week’s insurance news is the ideal antidote as it’s (almost) entirely election-free….

Argo CEO Watson steps down

Amid on-going shareholder pressure and an SEC investigation into compensation practices, Argo Group chief executive Mark Watson III has stepped down, to be replaced on an interim basis by Kevin Rehnberg. External-link. [Bloomberg]

Storm blows hole in Hiscox’s finances

London market insurer says third-quarter hurricane and typhoon losses of $165m have blown through their catastrophe budget. External-link. [City A.M.]

PRA letter to CEOs focuses on corporate culture

In a letter to chief executives of general insurance companies, the PRA said it was deeply concerned about reports of abuse and intimidation and that bad behaviour could result in senior managers being banned from the sector. External-link. [Financial Times]

Signs of hardening point to maturing cyber sector

It has been a long time coming but cyber pricing has been starting to rise. Will this last long enough to create a truly hard market? External-link. [Insurance Insider]

Use of W&I insurance in transactions is evolving

Demand for M&A insurance is rising, and not just from PE firms, as corporates increasingly look at transactions more opportunistically as part of a broader investment and asset management strategy. External-link. [Insurance Day]

China seeks to position Shanghai as an international reinsurance hub

Shanghai’s deputy mayor believes that the city’s goal to become an international reinsurance centre would bring a number of unique advantages. External-link. [Asia Insurance Review]

Navigators looking to sell European business

In an abrupt reversal of strategy, Navigators – under its new parent The Hartford – is looking to divest its continental European insurance operations. External-link. [Insurance Insider]

Broker seeks to attract staff with flexi-time and unlimited holiday

New insurance broker McGill and Partners is billing itself as “the most progressive in the insurance industry” by offering employment contracts based on “trust”, with no fixed hours and unlimited holidays to attract talent. External-link. [Financial Times]

How to navigate the minefield of online political ads

The major political parties are preparing to spend a fortune on social media ads in a bid to attract voters. But as regulations struggle to keep pace with technology, will it be a fair fight? External-link. [The Guardian]

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