Intelligent Insurer News

The Cayman Islands-based reinsurer Greenlight Re's insurtech unit has made a strategic investment in an online insurance and consumer dispute resolution start-up FairClaims.

Chicago-based insurtech Snapsheet, a provider of virtual claims technology for the personal and commercial insurance marketplace, has secured $29 million in Series E funding for global expansion.

Specialist insurer QBE has appointed Rob Byerly as director of financial lines for the UK.

UK insurance broker Aston Lark has been acquired by Goldman Sachs' merchant banking division.

Japan-based specialty reinsurer Sompo Holdings has predicted it will see “a record high” in its fiscal year 2019 (FY 2019) results for ordinary profit and consolidated net income, as it reported steady increases in net income for FY 2018.

HSB Engineering Insurance, a specialist engineering and construction insurer which is a subsidiary of Munich Re, has appointed Paula Homan as director of engineering services.

Seoul-based reinsurer Korean Re has launched a new reinsurance subsidiary in Zurich, Switzerland as part of its expansion strategy in the European market.

HDI Global Specialty SE, a new specialty lines insurer created from merging the specialty lines activities of Hannover Re and HDI Global, has recruited Martin Jackson as head of aviation and space, replacing Tim Slade.

Specialist reinsurance broker Capsicum Re has appointed Tom Mills to its Bermudian operation, in a move aimed at growing its presence on the island as it enters fifth year of trading since opening its office in 2014.

Bermuda has been removed from the European Union's so-called blacklist list of "non-cooperative" jurisdictions following a meeting of EU finance ministers on May 17.

Rating agency AM Best has revised the outlook of Bermuda-based reinsurer Third Point Re to negative from stable, expressing "concerns over the company’s business profile", its ability to make underwriting profits, and the recent changes in its senior management including the departure of its CEO Robert Bredahl.

US-based property/casualty insurer The Hartford has received all regulatory approvals necessary for the closing of its acquisition of global specialty insurance holding The Navigators Group.

Average commercial insurance prices globally enjoyed their biggest increase since 2012 in the first quarter of 2019, according to Marsh’s Global Insurance Market Index.

Re/insurance broker Aon has made several organisational changes within its global reinsurance clients team co-led by Brad Melvin and Bruce Selby Bennett, in a move it hopes will help better align and integrate with the wider firm, and increase value to its clients.

German reinsurer Deutsche Rück Group's profits soared in 2018 but its book shrank due to a restructuring of a business segment within the group of German public insurers.

DataCubes, an automation platform for commercial P&C underwriting, has partnered with Synergy Coverage Solutions (Synergy), a niche workers’ compensation MGA operating primarily in the Southeast and Midwest.

Globe Underwriting, a UK based managing general agent (MGA), has hired Jennifer Mackay as head of North America property division.

Bermuda-based reinsurer PartnerRe has launched a wearable technology pilot project in partnership with digital health platform dacadoo.

Re/insurer QBE has created a new data-driven solution to transform its legacy property claims process by automating non-complex claims, improving and speeding up the recovery process.

Broker Gallagher has promoted Stuart Fatt to the role of managing partner construction, reporting into the newly-appointed CEO of UK Specialty & Wholesale, John Thompson.