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Updated: 11 min 45 sec ago

AIG partners with United for travel insurance

18 October, 2017 - 14:48
American International Group (AIG) said on Oct. 18 that it has partnered with United Airlines to offer its travel insurance products and services on the airline’s website and mobile app.

California wildfire to cost re/insurers more than $4.6bn: Moody’s

18 October, 2017 - 10:25
Insured losses from the Californian wildfires will be close to $4.6 billion and growing as the fires continue, Moody’s said in an Oct. 16 sector comment.

Insurers not ready for EU Insurance Distribution Directive

18 October, 2017 - 09:46
The ECON committee of the European Parliament has called on the European Commission to delay the implementation of the Insurance Distribution Directive (IDD).

Arthur J Gallagher hires mining specialist from JLT Specialty

18 October, 2017 - 09:41
Insurance brokerage and risk management firm Arthur J Gallagher has hired mining specialist Stuart Hill as a director to strengthen its global mining and property capabilities.

Starr Companies introduces commercial auto coverages in Canada

18 October, 2017 - 09:28
Starr Companies is introducing commercial primary auto coverages in all provinces and territories in Canada.

Reinsurers to keep units in EU/US despite Covered Agreement: AM Best

18 October, 2017 - 08:19
While reinsurers are no longer obliged to have a branch or subsidiary on the other side of the Atlantic to be able to operate there after the implementation of the EU-US Covered Agreement, they are likely to keep the local units, according to ratings agency AM Best.

The rise of the MGA incubator

17 October, 2017 - 15:46
Earlier this year, Vibe MGA Management was the latest managing general agent incubator to be launched in the London Market. Danny Maleary, its CEO, explained its aims, ambitions and international outlook to Intelligent Insurer.

Cat losses set to widen for P&C re/insurers: Credit Suisse

17 October, 2017 - 15:26
Nat cat losses are set to increase from what companies have so far reported for the third quarter as the sum of these preannouncements still don't appear to add up to even the lower end of expected third-quarter industry losses of $75 billion, Credit Suisse analysts said in an Oct. 17 research note.

Pioneer appoints head of PI international and US excess

17 October, 2017 - 14:58
Pioneer Underwriters, the underwriting group within Minova Insurance, has promoted Kate McCluskey to head of professional indemnity (PI) international and US excess.

Coface Gulf region manager departs; interim successor revealed

17 October, 2017 - 14:57
Credit insurer Coface has appointed Berna Keskin as the acting interim country manager for GCC (Gulf Cooperation Council Countries, consisting of UAE, Bahrain, Kuwait, Oman, Qatar and Saudi Arabia).

Argo expects up to $110m cat losses in Q3

17 October, 2017 - 12:33
Bermuda-based specialty re/insurer Argo Group International Holdings said on Oct. 16 that it expects a pre-tax catastrophe loss for the third quarter of 2017 of $85-110 million, net of ceded reinsurance recoverables, reinstatement premiums and expected profit commissions.

Firms grasp importance of data assets, yet don’t insure risk

17 October, 2017 - 12:15
Organisations increasingly recognise the growing value of technology and data assets relative to historical tangible assets, yet they are spending four times more budget on insurance for property, plant and equipment (PP&E) risks, a new report by Aon has revealed.

Insurers need to reach for the cloud

17 October, 2017 - 12:15
The re/insurance industry needs to embrace the advantages in time and processing power that the cloud can give their modelling and other computer-generated planning processes, Jonathan Silverman, director of insurance industry solutions at Microsoft, told PCI Today.

Insurtech firms become MGAs out of frustration

17 October, 2017 - 12:15
Some insurtech startups are ditching their original business plans and becoming managing general agents (MGAs) because of their frustration at how long it takes the insurance industry to embrace new ideas.

Cedants: how much coverage to buy?

17 October, 2017 - 12:15
A lot of insurers have been forced to reevaluate how much reinsurance they’re buying in the aftermath of the losses from hurricanes Harvey, Irma and Maria (HIM), Mike Schnur, partner at TigerRisk, told PCI Today.

Expert support for catastrophe and exposure management

17 October, 2017 - 12:15
Re/insurers and brokers are realising the value of partnering with a strategic managed services provider to keep abreast of new developments in catastrophe and exposure management, as Monalisa Samal and Puneet Bajpai of Xceedance tell PCI Today.

California wildfire destroys 5,700 structures

17 October, 2017 - 10:04
The 15 large wildfires active across California have so far resulted in a death toll of more than 40 while burning more than 217,000 acres and destroying an estimated 5,700 structures, catastrophe modelling firm AIR Worldwide said on Oct. 16.

Aviva reveals major annuity deal

17 October, 2017 - 09:55
Aviva said on Oct. 17 that it has completed a £600 million bulk annuity deal for the pension plan of learning company The Pearson.

XL Group takes stake in India’s Mahindra

17 October, 2017 - 09:50
Re/insurer XL Group is to acquire a 20 percent stake in India’s Mahindra Insurance Brokers (MIBL), according to an Oct. 16 press release.

AmWINS acquires Willis insurance programmes

17 October, 2017 - 09:50
US wholesale distributor of specialty insurance AmWINS Group said on Oct. 16 that it is acquiring 15 insurance programmes from brokerage Willis Towers Watson.

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