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Investors have reason to be wary as IRB Brasil Re heads for long-awaited IPO

The $740m IPO of Brazil's state-backed reinsurer has its attractions, but the government's controlling stake and the company's bad experiences of international expansion may worry potential strategic partners
Brazil Reinsurance Finance

Axis Capital acquires Novae

Reaction and Analysis

 

Axis Capital to acquire Novae for $604m

Bermudian group pays 20% premium for Lloyd's insurer as it seeks specialty growth

Novae's 1.5 sale multiple is good compared to recent deals

Novae CEO Matthew Fosh has secured a strong sale price for the business, even though it's well off Amlin's eye-popping multiple

Novae must maintain agility to capitalise on Axis scale

'Agility and focus' have got Novae this far. Retaining this agility as part of Axis will be critical to its future success

Axis tilts further towards specialty insurance business with Novae

Nearly two-thirds of Axis Capital's business will be insurance business following completion

Benchimol: Novae acquisition 'a new milestone' in evolution of Axis Capital

Acquisition a 'rare opportunity' to accelerate group's strategy of developing specialty insurance business

Neptune continues to prune Novae stake

Fund manager is no longer Novae's largest shareholder after cutting stake by two-thirds

Axis Capital approved to launch Lloyd's managing agent

Will assume management of syndicate 1686 from August 4

Regulars

New London disaster centre hailed as 'game changer' in extending reach of insurance

Centre seeks to bring insurance to countries where cover is largely not considered
International Resilience

'Brexit has echoes of the Y2K panic - but the insurance industry must still prepare'

Despite the uncertainty, waiting for clarity is not an option
Legal focus Brexit Regulation

Liiba's Croft: 'London's biggest challenge is developing products customers actually want'

The biggest threat facing the London market is not "Uberisation", but its inability to come up with a solution for its customers' main risks, says the chief executive of Liiba

Big Interview Brexit Broker

Markets

Specialty risks sit at the heart of the Lloyd’s and London markets, and the market’s capability to innovate to continue to meet more specialised risk transfer needs will determine its long-term sustainability

Global reinsurance margins are under pressure but demand for the product remains stable. Reinsurers are facing an increasing need to differentiate their value proposition as they seek to retain core clients and maintain market relevance

Insurers are looking to new markets and classes of insurance as they strive to maintain growth against the headwinds of soft market conditions in established markets

Opinion

Reserving remains a concern within the US market

Graham Village

 

Results continued to fall in first quarter

Margins are shrinking in Bermuda's traditional lines

Michael Faulkner

 

Companies are searching for fresh opportunities

Some are turning to alternative markets

 

 


Hot Topics

Lloyd’s and London market insurers will be deploying a number of strategies to ensure disruption to trade with the European Union is minimised post-Brexit, against a backdrop of huge uncertainty over future access to the EU market

Cyber is the fastest growing class of business in the London market, but underlying cyber risks impact all classes. The market faces the dual challenge of seizing the growth opportunities presented while also effectively managing its exposures

Innovation is critical to the future growth of re/insurers across all key markets, amid an evolving risk landscape which requires the development of new products and risk solutions

Special reports


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