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Updated: 2 hours 39 min ago

US “Ring of fire” insured losses to reach $2.5bn

22 May, 2018 - 15:24
The damage resulting from the "ring of fire" weather system that impacted the US from May 11 to 16 is expected to result in $2.5 billion in property and motor insurance claims, according to a report by Karen Clark & Company (KCC).

Ascot buys Greyhawk in US expansion move

22 May, 2018 - 10:51
Bermuda-based Ascot Group, through its subsidiary Ascot US Holding Corporation, has acquired Greyhawk Insurance Company and its subsidiary Greyhawk Specialty Insurance Company.

Bermuda BDA CEO resigns; successor search begins

22 May, 2018 - 10:50
Ross Webber, the chief executive officer of Bermuda Business Development Agency (BDA), has stepped down from his position.

AEGIS London appoints hull book leader from Hiscox

22 May, 2018 - 10:50
AEGIS London, the UK-based subsidiary of AEGIS, has appointed Jonathan Humm as its new class underwriter for marine hull. He joins from Hiscox where he was deputy hull underwriter.

Guy Carpenter taps Aon managing director for UK non-marine unit

22 May, 2018 - 10:50
Reinsurance broker Guy Carpenter & Company, a wholly owned subsidiary of Marsh & McLennan Companies (MMC), has appointed Richard Carver as managing director and senior broker in the firm’s UK non-marine division.

White Mountains unit acquires UK personal lines broker Fresh

22 May, 2018 - 10:50
US-based specialty insurance programme administrator NSM Insurance Group, a subsidiary of White Mountains, has acquired West Midlands-based insurance broker Fresh.

Munich Re-backed insurtech Bestow secures $15m funding

22 May, 2018 - 10:49
Dallas-based startup digital life insurance distribution company Bestow has secured $15 million in a Series A funding round led by Valar Ventures, bringing its total financing to more than $18 million.

Icahn sues AmTrust CEO, Karfunkel family over go-private deal

22 May, 2018 - 08:45
Activist investor Carl Icahn filed a lawsuit against AmTrust Financial Services and the family that controls the company, accusing them of trying to take the insurer private at the wrong time and at the wrong price, according to a Reuters May 21 report.

AmTrust CEO defies Icahn in go-private deal

21 May, 2018 - 10:24
AmTrust Financial Services CEO Barry Zyskind continues to expect the transaction to turn the specialty property/casualty insurer into a privately held company to occur in the second half of 2018 despite the recent intervention by billionaire investor Carl Icahn.

1/1 renewals boost Africa Re growth

21 May, 2018 - 10:14
African Reinsurance Corporation grew gross written premium by 26.3 percent year on year to $211.1 million in the first quarter of 2018 driven by “successful” January renewals combined with a “slight hardening” in the South African reinsurance market.

Chubb overtakes AIG, XL in cyber exposure

21 May, 2018 - 10:07
Chubb was the top US cyber insurer in 2017, rising past American International Group (AIG) and XL Catlin, according to AM Best.

Castel Underwriting launches political risk book

21 May, 2018 - 10:07
Castel Underwriting Agencies, an MGA formation platform that supports individual underwriters with smaller books of niche business, has expanded its Castel Specialty portfolio with the addition of a political risk book.

Cyber major earnings driver for Beazley

21 May, 2018 - 10:07
Cyber could contribute 30 percent to Beazley’s underwriting earnings by 2020, according to Jefferies analysts.

Crawford appoints former SCOR exec to Lloyd’s unit

21 May, 2018 - 10:06
Crawford & Company (Canada), a provider of claims management solutions, has appointed Sandra Harbans to its Lloyd’s unit as director of operations. Harbans has previously worked for SCOR and Northbridge.

US direct cyber market grows 32%

21 May, 2018 - 09:13
The US cyber market grew significantly in 2017 with direct premiums written by US property/casualty (P&C) insurers (excluding non-US and alien surplus lines insurers) rising nearly 32 percent year over year to $1.8 billion, according to AM Best.

Give me back my data: what insurers can expect from GDPR

21 May, 2018 - 07:54
A new data protection regulation which comes into force from May 25 in Europe will offer customers more insight into insurers’ decisions with regards to pricing and claims payments, increasing the likelihood of disputes while facilitating the switch to a different provider, as Intelligent Insurer discovers.

Icahn intervenes in AmTrust going-private plan

18 May, 2018 - 10:48
Billionaire investor Carl Icahn disclosed a 9.38 percent stake in insurer AmTrust Financial Services and said in a letter to the insurer’s board that he strongly opposed the going-private deal.

AIG losses more than double in Europe in 2017

18 May, 2018 - 10:21
AIG Europe reported a pre-tax loss of £431.5 million for 2017 (ending Nov. 30, 2017) after a negative £171.1 million in the 2016 financial year.

Lloyd’s brokers SSL, Endeavour merge under JC Flowers

18 May, 2018 - 10:20
Lloyd’s brokers SSL Insurance Group and Endeavour Insurance Services have entered into an agreement to merge the businesses.

Sompo expects to double profit in 2018

18 May, 2018 - 10:20
Sompo Holdings expects consolidated ordinary profit to double in the full year 2018 (ending March 31, 2019) based on the impact of hurricanes in North America and large losses.

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