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Updated: 48 min 21 sec ago

Generali acquires asset manager from Bank of America

5 December, 2018 - 11:06
Italian insurer Generali is accelerating its asset management strategy by acquiring 100 percent of CM Investment Solutions (CMISL) from Bank of America Merrill Lynch.

Zurich on track for 2019 targets

5 December, 2018 - 10:54
Zurich Insurance Group is on track to achieve its 2017-2019 financial targets, management said on Dec. 5, 2018.

AIG appoints Lyons as chief financial officer

5 December, 2018 - 09:41
American International Group (AIG) has appointed Mark Lyons as executive vice president and chief financial officer (CFO), succeeding Sid Sankaran.

AIG appoints new Asia Pacific CEO from MetLife

5 December, 2018 - 09:37
American International Group (AIG) has appointed Sachin Shah as chief executive officer (CEO) of Asia Pacific, AIG General Insurance.

Hamilton hires Sirius executive to drive corporate strategy

5 December, 2018 - 09:27
Bermuda-based Hamilton Insurance Group has hired Michael Papamichael as senior vice president of strategy and corporate development from Sirius Group.

Storms cause $51bn in losses in 2018 season: Munich Re

4 December, 2018 - 16:38
The 2018 tropical cyclone season across the northern hemisphere has caused overall losses of around $51 billion, well below last year’s figure of $220 billion, but still substantially above the long-term average of $34 billion, according to Munich Re.

RSA secures approval for Brexit plan

4 December, 2018 - 16:34
UK-based RSA Insurance Group is transferring its European insurance business to its new Luxembourg office in preparation for Brexit.

National Mortgage Insurance reduces cession rate for 2019

4 December, 2018 - 16:32
National Mortgage Insurance Corporation (NMIC) has reduced its cession rate for its 2019 new insurance written (NIW) for its existing quota share reinsurance treaty (QSR) to 20 percent from 25 percent in 2018.

Chubb to cut $500m in cost through AI, robotics

4 December, 2018 - 15:02
Chubb believes that it can achieve more than $350 million in savings by year-end 2022 and $500 million by year-end 2023 through the use of robotics and artificial intelligence (AI) as it eliminates low-value activities, according to a December 2018 investor presentation.

Lloyd’s Lab starts search for second insurtech cohort

4 December, 2018 - 10:38
The Lloyd’s Lab has launched a new global search for the next cohort of insurtech innovators.

Fitch moves US P&C outlook to stable after rebound

4 December, 2018 - 10:30
Fitch Ratings has revised the sector outlook for US property and casualty (P&C) insurers to stable from negative.

Chubb expects $225m hit from California wildfires

4 December, 2018 - 10:22
Chubb expects an impact of approximately $225 million pre-tax, or $195 million after tax from the California wildfires in the fourth quarter of 2018.

Barbican taps property treaty underwriter from CNA

4 December, 2018 - 10:18
Barbican Insurance Group has appointed Emma Watson as class underwriter for property treaty from CNA Hardy.

Merced P&C downgraded to ‘F’ after California wildfire hit

4 December, 2018 - 10:17
AM Best has changed the Financial Strength Rating (FSR) to a Non-Rating Designation of F (In Liquidation) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “f” from “a-” of California-based Merced Property & Casualty Company.

Alaska insured earthquake losses limited

4 December, 2018 - 10:17
Insured losses from the magnitude 7.0 earthquake that struck Alaska on Nov. 30, 2018 are likely to be limited by a low earthquake insurance take-up rate (about 9-12 percent for homeowners and higher for businesses) and high deductibles (10-20 percent of policy limit), according to Morgan Stanley Research.

Blockchain’s future in insurance takes shape

4 December, 2018 - 07:00
The re/insurance industry holds high expectations for blockchain technology as an opportunity to increase efficiency of insurance processes, and the future is beginning to take shape with the launch of new platforms and products. Intelligent Insurer reports.

AM Best picks Amsterdam for new Europe unit post-Brexit

3 December, 2018 - 16:31
Rating agency AM Best has unveiled its new subsidiary AM Best (EU) Rating Services, based in Amsterdam, the Netherlands.

Verisk reveals $87m Rulebook acquisition for expansion

3 December, 2018 - 16:24
Verisk Analytics, a provider of property/casualty (P&C) insurance risk information, has acquired London-based Rulebook for $87 million in cash.

The Hartford snaps up MGU Y-Risk; hires team

3 December, 2018 - 15:54
US-based The Hartford has purchased Y-Risk, a managing general underwriter (MGU) specialising in the sharing and on-demand economy, from Allstar Financial Group.

NSM acquires KBK Insurance for North America expansion

3 December, 2018 - 15:53
NSM Insurance Group has acquired the assets of US-based KBK Insurance Group, a provider of commercial auto insurance products and services.

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