Intelligent Insurer News

Zurich Insurance Group said that it is combining its specialty products business with commercial insurance in North America as part of its strategy to simplify the organisational structure, and provide easier access to its products and services.

US-based property/casualty insurer The Hanover Insurance Group has appointed Bryan Salvatore as executive vice president and president of specialty.

New York-based insurance holding company AmTrust Financial Services said that it plans to raise gross proceeds of $300 million through a private placement.

The Hartford, a US-based property/casualty (P&C) insurance firm, has named David Firstenberg as chief underwriting officer for its P&C businesses, reporting to president Doug Elliot.

Connected home insurer Neos said that it secured £5 million in series A investment from Munich Re and Aviva Ventures.

Broker Willis Towers Watson has appointed Debby Moorman as health and benefits market leader in Georgia.

The Guardian Life Insurance Company of America has appointed Christopher Jenny and Gary Norcross to a three-year term on its board of directors.

Bermuda-based re/insurer Aspen Group has appointed Tim Aman as its new group chief risk officer.

UK-based insurer Aviva said on May 25 that it will start a share buy-back of its ordinary shares for up to a maximum consideration of £300 million.

Allianz Global Corporate & Specialty (AGCS), the corporate insurance carrier of Germany's Allianz Group, has appointed Mike Hansen as global head of aviation.

Insurers will have to delete two thirds of the records they hold on past customers, losing a vital sales pipeline, under new data protection laws, research from Consumer Intelligence and fast.MAP suggests.

Private equity firm JC Flowers said that it finalized the acquisition of UK General Insurance Group on May 24, following regulatory approval.

Specialist insurer Tokio Marine Kiln (TMK) said that it has launched a visual effects (VFX) and post production media insurance offering.

The ILS market is seeing a boom in activity in 2017. Bill Dubinsky, managing director & head of ILS at Willis Towers Watson, casts an eye over the year so far.

ILS issuance in the second quarter of 2017 has to date surpassed the quarterly total from the same period of 2016, according to Paul Schultz, CEO of Aon Securities.

There has been steady growth in the Bermuda ILS market, according to the latest report from the Bermuda Monetary Authority.

The boards of CF Corporation and Fidelity & Guaranty Life (FGL) approved a definitive merger agreement under which CF Corp. will acquire FGL for a total of approximately $1.84 billion, plus the assumption of $405 million of existing debt.

QBE Insurance Group has appointed Michael Ford as permanent group chief financial officer (CFO). He will be based in Sydney.

Re/insurer XL Catlin has promoted Rob McAdams to the position of chief underwriting officer for global marine.

KIRS Group, the holding company being created to combine Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate, is launching a secured bond offering for an aggregate principal amount of £800 million, alongside committing to enter into a £90 million super senior revolving credit facility.