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Aspen swings to $37.3m loss in first half of 2019

Intelligent Insurer News - 16 August, 2019 - 11:18
Bermuda-based Aspen Insurance Holdings suffered a net loss of $37.3 million in the first half of 2019, dropping from a net income of $16.1 million it made in the same period last year.

GoldenTree's Star Insurance buys Syncora Guarantee for $392.5m

Intelligent Insurer News - 16 August, 2019 - 10:25
Bermuda-based Syncora Holdings has entered into an agreement to sell its New York financial guarantee insurance subsidiary to Star Insurance Holdings, a part of GoldenTree Asset Management, for $392.5 million in cash.

Canada's Intact to buy specialty insurer and MGA from Princeton Holdings for C$1bn

Intelligent Insurer News - 16 August, 2019 - 09:47
Canadian property and casualty insurer Intact Financial Corporation has entered into a definitive agreement with Princeton Holdings to acquire The Guarantee Company of North America, a specialty lines insurer in Canada and the US, and Frank Cowan Company, a managing general agent (MGA) focused on specialty insurance, for approximately C$1 billion ($750 million) in cash.

Allianz creates new digital claims role in automation push

Intelligent Insurer News - 16 August, 2019 - 09:23
Allianz Insurance has appointed Shelley Hughes to the newly created position of digital claims propositions manager.

Cobbs Allen unveils new specialty brokerage CAC to serve corporate and private equity clients

Intelligent Insurer News - 16 August, 2019 - 09:01
US-based enterprise risk management agency Cobbs Allen has formed a new specialty insurance brokerage and investment banking platform to serve corporates and private equity clients. The company believes that current consolidation in the marketplace has created a need for an independent platform with scalability and the ability to move quickly and nimbly.

Travelers appoints first chief sustainability officer

Intelligent Insurer News - 16 August, 2019 - 08:29
Property/casualty insurer Travelers Companies has created a new position to lead its environmental, social and governance (ESG) efforts across the organisation.

Insured catastrophe losses at $19bn in H1 2019; Swiss Re highlights protection gap in emerging countries

Intelligent Insurer News - 15 August, 2019 - 15:34
Insured losses from global catastrophe events were estimated at $19 billion in the first half of 2019, mainly driven by secondary perils such as thunderstorms and flooding events, according to the new Swiss Re sigma report.

Australian reinsurance and binder broker Wickshire gains Lloyd's approval

Intelligent Insurer News - 15 August, 2019 - 14:58
Sydney-based independent reinsurance and binder placement broker Wickshire has been approved as a Lloyd’s of London broker.

Former Tokio Millennium Re CEO Hoshina joins risk trading insurtech AkinovA's board

Intelligent Insurer News - 15 August, 2019 - 14:37
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has appointed founder and former CEO of Tokio Millennium Re Tatsuhiko Hoshina to join its advisory board.

Sedgwick creates new role to focus on Africa and Middle East expansion

Intelligent Insurer News - 15 August, 2019 - 13:58
Technology-driven risk solutions provider Sedgwick has hired Patrick Peters in a newly-created role to drive expansion across the Africa and the Middle East region.

Typhoon Lekima insured losses in China estimated to exceed $855m: AIR Worldwide

Intelligent Insurer News - 15 August, 2019 - 11:10
Insured losses from Typhoon Lekima that ravaged parts of China this weekend is expected to exceed CNY 6 billion ($855 million), according to catastrophe risk modelling firm AIR Worldwide.

Sompo partners with Munich Re, XL-backed insurtech Slice to launch on-demand insurance in Asia

Intelligent Insurer News - 15 August, 2019 - 10:44
Re/insurer Sompo Holdings and US-based insurtech Slice Labs have entered into a proof-of-value contract to offer a 'first-of-its-kind' on-demand insurance to the Asia Pacific region.

Arch buys insurtech managing general underwriter Ventus Risk Management

Intelligent Insurer News - 15 August, 2019 - 10:15
Arch Insurance North America has entered into a definitive agreement to acquire insurtech managing general underwriter (MGU) Ventus Risk Management.

McGill & Partners acquires renewal rights to certain Marsh, JLT Specialty business

Intelligent Insurer News - 15 August, 2019 - 09:44
London-based McGill & Partners, a specialty risk solutions company, has signed an agreement with broker Marsh and JLT Specialty to acquire certain specialty business from Marsh in London.

Todd Jones leaves Willis Towers Watson to become QBE North America CEO

Intelligent Insurer News - 15 August, 2019 - 09:18
Broker Willis Towers Watson has appointed Adam Garrard as new leader for the corporate risk & broking (CRB) segment, replacing Todd Jones who is joining specialist insurer QBE Insurance Group as CEO North America.

AIG snags Munich Re's Richard Olsen for top chief actuary role

Intelligent Insurer News - 15 August, 2019 - 08:30
American International Group (AIG) has hired Munich Re's Richard Olsen as new chief actuary, general insurance, based in New York.

M&A activity to continue as reinsurers grapple with challenging conditions, claims new report

Intelligent Insurer News - 14 August, 2019 - 15:25
Challenging business conditions, coupled with cheap financing in the debt market, will continue to fuel mergers and acquisitions (M&A) activity and drive consolidation in the global reinsurance market, according to a new report from Standard & Poor (S&P).

AXIS Re hires AXA XL's Gino Smith as head of property for EMEA and LatAm

Intelligent Insurer News - 14 August, 2019 - 14:48
AXIS Re, the reinsurance business segment of AXIS Capital Holdings, has appointed Gino Smith as head of property for Europe, the Middle East and Africa (EMEA) Latin America, effective November 2019.

Everest Insurance bolsters excess casualty group with Chubb, ex-XL Group duo

Intelligent Insurer News - 14 August, 2019 - 14:34
Everest Insurance, the specialty insurance division of Bermuda-based Everest Re Group, has added two new senior executives to its US excess casualty group, following the recent team expansions in the Midwest and West regions.

Brown & Brown buys US employee benefit firm Yozell

Intelligent Insurer News - 14 August, 2019 - 14:04
Broker Brown & Brown has acquired substantially all of the assets of employee benefits firm Yozell Associates in the US.

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