Intelligent Insurer News

Insurance startup Brolly which offers an AI-driven insurance app is claiming on its own business insurance for the first time after its office gets burgled.

Bermuda-based Fidelis Insurance is replacing its chief underwriting officer and Bermuda CEO Ben Savill who will “leave to pursue other opportunities”.

Hurricane Florence will cause $30-60 billion in economic impact and damage, according to estimates by commercial weather forecasting services provider AccuWeather.

Tens of thousands of homes are without power and sea water is sloshing through coastal streets as hurricane Florence begins lashing the US East Coast, according to a BBC News Sept. 15 report.

A recovery of the US excess and surplus (E&S) lines insurance market is benefitting US property & casualty (P/C) insurance companies, according to a Fitch Ratings report.

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Lewis Edwards to the newly created role of head of underwriting, delegated authority for specialty lines.

French reinsurer SCOR is in exclusive negotiations with the employee support services provider Workplace Options to sell SCOR Global Life's employee wellness solutions subsidiary Rehalto.

Legal & General Group has completed a £4.4 billion buy-in for British Airways pension scheme, Airways Pension Scheme (APS).

Typhoon Mangkhut will landfall along the northeastern coast of Luzon, Philippines within the next 20 hours as a very intense category 5 super typhoon, according to Aon’s Impact Forecasting Cat Alert.

Boston-headquartered Liberty Mutual Insurance is rebranding its Liberty International Underwriters (LIU Canada) and Ironshore Canada units as Liberty Mutual Canada.

Validus Specialty has expanded its product suite with the launch of crisis management insurance solutions in the US, and appointed Jane McCarthy to lead the development of the new portfolio.

All insurers are on a journey to use more technology—but as some move faster than others, the very definition of what constitutes an insurance company could be starting to change. Intelligent Insurer investigates.

China Re, China’s biggest reinsurer, will acquire speciality insurer Chaucer from its parent The Hanover Insurance Group for $950 million in a deal that gives the buyer a solid foothold in both the speciality markets and in Lloyd’s.

Prudential has named Charles Lowrey as its next CEO, effective December 2018. He succeeds the company's long-time leader John Strangfeld, who has been chairman and CEO for 11 years.

The re/insurance industry should brace itself for losses of between $15 billion and $20 billion, according to the guidance of risk modelling agencies and analysts.

Hurricane Florence has weakened to a Category 2 storm as it approaches landfall in the US – but it is very slow moving and could linger the coastline bringing catastrophic flooding and heavy losses to insurers.

Hurricane Florence could trigger the risk transfer mechanisms put in place by the National Flood Insurance Program (NFIP) – for the second year in a row.

MSIG Insurance in Singapore has partnered with Anapi, an insurtech startup, to offer new insurance products digitally quickly.

UK insurtech startup Wrisk, which has now raised £1 million via crowdfunding website Seedrs, has secured a deal to become the sole BMW and MINI Car Insurance in the UK.

Private equity firm The Carlyle Group will acquire the majority ownership of technology-driven risk solutions provider Sedgwick in a transaction valued at approximately $6.7 billion.