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Travelers posts record net written premiums in 2018

Intelligent Insurer News - 22 January, 2019 - 15:14
US insurer Travelers posted record net written premiums and a big jump in profits in 2018 despite several costly catastrophes during the year.

AXA poaches new UK and Ireland COO from Hiscox

Intelligent Insurer News - 22 January, 2019 - 15:14
Insurer AXA has appointed Shali Vasudeva to the newly-created role of chief operating officer (COO), AXA UK and Ireland.

Tokio Marine reveals new CEO, chairman following departures

Intelligent Insurer News - 22 January, 2019 - 15:13
Tokio Marine Holdings has appointed Satoru Komiya as its new president and group chief executive officer (CEO), effective June 2019.

BIBA renews GAP Scheme with Jackson Lee Underwriting

Intelligent Insurer News - 22 January, 2019 - 15:13
The British Insurance Brokers’ Association (BIBA) has renewed its GAP scheme with Jackson Lee Underwriting for a further three years.

Cat risk continues to evolve; protection gap not shrinking, warns Aon

Intelligent Insurer News - 22 January, 2019 - 10:56
An analysis of catastrophe losses in 2018 shows that the protection gap is not closing and that catastrophe risk has continued to evolve and is more complex than ever, according to Aon’s latest Weather, Climate & Catastrophe Insight: 2018 Annual Report.

India's strong economy means robust growth for insurance

Intelligent Insurer News - 22 January, 2019 - 10:24
India's strong economy and evolving regulatory regime continue to support growth for its insurance and reinsurance sectors, according to a new report by Moody's Investors Service.

North P&I Club opens Brexit subsidiary in Ireland

Intelligent Insurer News - 22 January, 2019 - 10:21
Mutual marine liability insurer North P&I has received authorisation from the Central Bank of Ireland (CBI) to operate from Ireland, allowing it to implement its Brexit contingency plan.

AXA Venture Partners raises $150m to invest in early-stage insurtechs

Intelligent Insurer News - 22 January, 2019 - 10:21
AXA Venture Partners (AVP), the venture capital arm of insurer AXA, has raised $150 million for a new early-stage fund that will invest technology companies mainly focused on the insurance sector.

Legacy insurer DARAG acquires Italian non-life portfolio from DONAU

Intelligent Insurer News - 22 January, 2019 - 10:21
European legacy acquirer DARAG Group has purchased a portfolio of Italian non-life business, consisting primarily of motor third party liability from DONAU Versicherung.

Allianz unveils new AGCS reinsurance branch in India; appoints CEO

Intelligent Insurer News - 21 January, 2019 - 15:13
Allianz Global Corporate & Specialty (AGCS), Allianz group's specialist corporate insurer, has launched a new reinsurance branch in India to capitalise on opportunities in what it calls one of the fastest emerging re/insurance markets, while expanding its business in Asia Pacific.

A fresh start for the new year

Intelligent Insurer News - 21 January, 2019 - 14:57
Tom Johansmeyer of PCS, Verisk Insurance Solutions, looks back at 2018 and what impacted the ILS market over the year, and forward to the next 12 months.

Belisle/Fredricks leave Markel CATCo after “undisclosed personal relationship” uncovered

Intelligent Insurer News - 21 January, 2019 - 09:58
Markel CATCo, which has been conducting an internal review into its loss reserves in 2017, has parted company with two of its senior executives with immediate effect after it appears it discovered evidence of an “undisclosed personal relationship” in the course of the investigation.

AmTrust Financial to delist its preference shares citing costs

Intelligent Insurer News - 21 January, 2019 - 09:57
The board of directors of AmTrust Financial Services has approved the voluntary delisting of all six series of preferred stock and two series of subordinated notes from the New York Stock Exchange.

Germany-China agree to bolster ties on re/insurance links

Intelligent Insurer News - 21 January, 2019 - 09:56
Germany has signed an agreement with China designed to boost the level of understanding and cooperation between the two countries with regards to re/insurance though the agreements also covers many other aspects of banking and finance.

Carriers more willing to ‘walk away’ if profits inadequate

Intelligent Insurer News - 21 January, 2019 - 09:46
After almost two decades of favourable buying conditions, 2017 and 2018 saw a change in the market dynamic whereby rates are increasing, and carriers are now willing to walk away from deals that do not deliver on acceptable levels of profitability, the chief executive of Australia-based broker Honan Insurance Group has claimed.

AXA XL ready for Brexit as it completes move to Ireland

Intelligent Insurer News - 21 January, 2019 - 09:31
Re/insurer AXA XL has completed the transfer of its European Union insurance company, XL Insurance Company (XLICSE), from the UK to Dublin, Ireland in response to Brexit uncertainty.

Chubb pegs Q4 2018 nat cat loss at $585m

Intelligent Insurer News - 21 January, 2019 - 09:25
Property/casualty insurer Chubb has estimated its global net catastrophe losses of approximately $585 million pre-tax, or $505 million after tax, in the fourth quarter of 2018.

Strange bedfellows: risks and rewards as re/insurers dabble in venture capital

Intelligent Insurer News - 21 January, 2019 - 08:11
The race to reap the rewards of insurtech has prompted a growing number of re/insurers to launch their own venture capital arms—but this comes with potential risks as well as rewards. Intelligent Insurer investigates.

Allianz replaces AGCS CFO, reshuffles leadership of operating entities

Intelligent Insurer News - 18 January, 2019 - 10:05
Germany’s Allianz has replaced the chief financial officer (CFO) of its commercial insurance arm Allianz Global Corporate & Specialty (AGCS) along with leadership changes at other operating entities.

AlphaCat strikes new ILS deal with Ledger Capital Markets

Intelligent Insurer News - 18 January, 2019 - 10:04
AlphaCat Managers, AIG's third-party reinsurance capital management and insurance-linked securities (ILS) unit, has entered into an ILS transaction with Ledger Capital Markets.

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