Intelligent Insurer News

Reinsurance firm Greenlight Re has made a strategic investment in insurtech start-up Cove Limited, which is based in New Zealand.

Independent insurance investment manager Twelve Capital said it has raised close to $400 million in 18 months for its UCITS cat bond offering.

Third Point Reinsurance has appointed David Sinclair as senior vice president of marketing and investments, he will start his new role on September 2 and reports to marketing director Clare Himmer.

RSA has hired Martin Rueegg from AXA to be its new chief executive (CEO) of the Middle East and UAE, replacing Lloyd East who will move to RSA’s Canadian operation Johnson to become vice president of strategic operations and chief operating officer (COO). Rueegg will take up his new post in September.

Specialty managing general agents the Nexus Group (Nexus) have signed up on-demand technology firm the REG Network to provide counterparty due diligence and agency management across its companies globally.

Specialty insurer Ryan Specialty Group (RSG) has confirmed plans to open an office in Barcelona as part of an expansion strategy to grow geographically and increase its products.

Specialty re/insurer Brit has created the new post of head of innovation and appointed James Birch, who starts today (22 July).

Reinsurer AXA XL has appointed Paul-Henri Rastoul as chief underwriting officer at XL Insurance Company SE.

International re/insurance firm Darag has bought The Underwriter, a UK-based insurer in run-off.

Insurance premium increases are a “near certainty” for shipping in the region of the strait of Hormuz after Iran seized UK-flagged oil tanker Stena Impero on Friday 19 July.

A government Impact Assessment (IA) of changes to the UK’s personal injury discount rate, also known as the Ogden rate, has been described as “misleading and wholly disingenuous” by the Association of British Insurers (ABI).

Generali Global Corporate & Commercial (GC&C) has appointed Dawood Yeung as new head of engineering underwriting in Asia.

Broker Marsh & McLennan Companies has elected Tamara Ingram to its board of director.

Czech Republic-based reinsurer VIG Re has appointed Aleš Mirnik as new head of Central & Eastern Europe, succeeding Petr Štěpán.

Bermuda-based Catalina Holdings has appointed Steve Ryland as chief executive of its UK operations as part of the company's effort to strengthen its global management team.

Global insurer Generali has agreed two acquisition deals worth a total of €600 million to become the second largest non-life group in Portugal with a market share of 18.7 percent, making it the third largest business in the market.

Germany-based global reinsurer Munich Re expects to report a consolidated result of approximately €1 billion for the second quarter of 2019.

New figures from the UK Health and Safety Executive point to a possible peak in the number of asbestos-related deaths from mesothelioma. Intelligent Insurer investigates.

Re/insurance broker Lockton has hired Willis Towers Watson cyber expert Anthony Dagostino to further expand its cyber and technology practice, and develop analytics-driven tailored solutions for clients that target their real, underlying cyber risk.

Insured losses from Hurricane Barry, the second named storm of the 2019 North Atlantic hurricane season, will not top $500 million, global risk modeling and analytics firm RMS has said.