week commencing 16/12/18:

As the shortest day of the year, and the day most people break up for Christmas, Luther Towers is officially seeking happiness in chocolate – but see our last story for other tips! To our clients and to everyone who has enjoyed our weekly updates – Merry Christmas and we’ll see you in 2019!

Zurich sells $2bn UK employers’ liability run-off book to Catalina
In a deal worth $2 billion, Catalina will take on policies written before 2007 after agreeing a transfer of a UK employer’s liability portfolio with Zurich. External-link [The Insurer]

Fire and explosions blow a hole in profits
Businesses and insurers worldwide have suffered their largest value losses as a result of explosion and fire claims. External-link [City AM]

Decile 10 pushes market rates up
Market rate momentum has picked up with insurers seeing rate rises across their specialty books, but questions abound surrounding the longevity of the boost. External-link [Insurance Insider]

KBW prediction: 2019 to bring pricing improvements
Commercial lines and reinsurance should expect to see modest price improvements in 2019 according to Keefe, Bruyette & Woods. External-link [Carrier Management]

Preparations underway for Marsh – JLT merger
Staffing appointments are well underway as Marsh and JLT prepare for their forthcoming merger. External-link [Reactions]

Cyber insurers capitalise on Marriott’s woes
Marriott’s $300m cyber breach could be the largest on record, and cyber insurers are moving fast to use it as an example of why all firms need cover. External-link [Global Reinsurance]

Hiscox appoints new UK CEO
Bob Thaker is to succeed Steve Langan in the role of UK CEO at Hiscox from March next year. External-link [Slipcase]

Novartis explores industry support for expensive drugs
Swiss pharma Novartis is seeking to help health systems worldwide to cope with the cost burden for ultra-expensive new drugs by working with the global reinsurance industry. External-link [Financial Times]

RenRe to launch $1bn Vermeer Reinsurance
RenRe has unveiled plans to launch a new property cat insurer called Vermeer Reinsurance. External-link [Intelligent Insurer]

The pursuit of happiness
We all want it, and some try harder than others to achieve it. Turns out it might be those that try the least that are most likely to find it. Over-achievers beware! External-link [BBC]


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