Intelligent Insurer News

UK's life and general insurer Aviva has said that the company is "considering a range of options" to enhance its Asian business as new CEO Maurice Tulloch looks to re-energise the business with a fresh growth strategy.

Third Point Re's new CEO Daniel Malloy is "pleased" with the company's performance as he highlighted improved underwriting profitability for both the second quarter and first half of 2019.

Randall & Quilter Investment Holdings (R&Q) has issued a loss portfolio transfer reinsurance, covering workers’ compensation, product, auto, and general liability risks, for a Bermuda domiciled captive.

Insurer AIG reported “strong” income growth in its Q2 2019 results with its CEO pointing to the company’s 2017 decision to restructure its business into three units - operating under a General Insurance business unit, a Life and Retirement unit, and a standalone technology unit.

Zurich Insurance Group posted the 'best first half result in a decade' driven by underlying growth across the business and a strong underwriting performance in property & casualty. The CEO is confident that it will beat its three-year financial targets in 2019.

Hannover Re results for the second quarter and first half of 2019 show reinsurer is “well on track” to hit group net income targets of €1.1 billion for the full year, said chief executive Jean-Jacques Henchoz.

Bermuda-based Assured Guaranty has entered into an agreement to purchase all of the outstanding equity interests in BlueMountain Capital Management and its associated entities for approximately $160 million.

Bermuda-based Third Point Re has affirmed Daniel Malloy as its chief executive officer (CEO) and appointed former AIG chief financial Officer Sid Sankaran to its board of directors.

Brazil's major reinsurer IRB Brasil Re is set to acquire an 8.93 percent stake in the blockchain insurance industry initiative B3i Services for €3.5 million.

Property/casualty insurer Travelers Companies has appointed David Rowland and Daniel Yin to executive vice president and co-chief investment officer, effective immediately.

The insurance-linked securities (ILS) market declined year-on-year in the second quarter of 2019, making it the second-lowest Q2 for issuance by volume in the past eight years, except for 2016.

Specialist insurer Markel Corporation has named John Lecci as senior director of professional liability. He will be heading up the New York-based US professional errors & omissions team.

Previsico, an insurtech spin-out of the Loughborough University specialising in flash flood forecasting technology, is launching into the insurance sector following a seed funding round.

Specialist insurer Beazley has appointed three new underwriters from CNA, Chubb and The Hartford to its US cyber & technology team that the company claims has grown by 25 percent in the past two years.

Munich Re described its consolidated results for the first half-year of 2019 as “gratifying” and pointed to “a very good underwriting result in property-casualty reinsurance in the second quarter” as part of the reason.

Munich Re has launched a new suite of automated damage detection tools designed to "revolutionise" the insurer's ability to respond to hurricane events.

Technology-driven risk solutions provider Sedgwick has acquired Nordic Loss Adjusting (NLA) and related entities in order to strengthen its presence in the Nordic region.

Bermuda-based Fidelis Insurance has appointed Robert Kelly to the post of chief executive officer and Simon Crone to chief underwriting officer of Fidelis Insurance Ireland DAC (FIID).

Broker Beecher Carlson Insurance Services, the specialised large account subsidiary of Brown & Brown, has appointed Bill Daly as chief operating officer (COO).

RT Specialty, a wholesale brokerage unit of Ryan Specialty Group (RSG), has promoted Todd Mannschreck to president of claims, chief claims officer. He is based in the company's Kansas City office.