Intelligent Insurer News

Bermuda-based reinsurer Monument Re has acquired Robein Leven and its subsidiaries from Amerborgh Financial Services as part of its growth strategy in the Benelux region.

Zurich Australian Insurance, a division of Zurich Insurance Group, has appointed Tim Plant as CEO of general insurance, Australia & New Zealand.

New York-based Kingstone Companies, a multi-line regional property and casualty insurance holding company has increased its reinsurance overaged for the treaty year beginning July 1, 2018.

Insurance Australia Group (IAG) has revealed that its group general counsel and company secretary Chris Bertuch has decided to leave the company, effective Sept. 30.

RT Specialty, a wholesale brokerage unit of Ryan Specialty Group, has hired industry veteran Jonathan Legge as a senior vice president of its RT ProExec division.

Liberty Mutual Company unit Ironshore Insurance Services has formed an energy equipment facility offering property and inland marine insurance coverage for on-shore middle market classes of business in the US.

Historic rainfall that hit Japan between June 29 and July 8 has damaged or destroyed nearly 12,000 homes and public structures while washing away portions of roadways and bridges and disrupting industrial production, according to the Aon Cat Alert report.

US-based insurtech startup OnRisk has formed a strategic partnership with independent Lloyd's broker AFL to develop new technology for structuring and placing property & casualty (P&C) risk.

SCOR Global P&C is consolidating its specialty insurance platform in the London Market as a single business platform.

French insurer AXA Group has appointed Claudio Gienal as new CEO of AXA UK and Ireland, replacing Amanda Blanc.

Specialist insurer Markel International has appointed Simon Barrett as new finance director.

Insurance broker Marsh has appointed Kevin Richards to a newly created role of global head of cyber risk consulting.

Specialist insurer Tokio Marine Kiln (TMK) has bought the remaining 51 percent share in WNC Holdings that it does not already own.

McLarens, a global loss adjuster specialising in complex and commercial claims, has expanded its property loss adjusting division with an office in Perth, Australia while appointing Desmond Lee as executive loss adjuster.

The US cyber insurance premiums expanded 37 percent year on year to $1.84 billion in 2017, according to Aon’s US Cyber Market Update report.

Swiss Re Capital Markets has structured and placed the issuance of $350 million of insurance-linked securities by Frontline Re on behalf of Frontline Insurance.

ACORD, the global standards-setting body for the insurance industry, has released the industry’s ‘first standard’ for cyber data breach.

Reinsurance is used increasingly for earnings protection and volatility reduction by insurers whose purchasing is guided by “risk appetite statements” deployed to optimize capital management and profitability targets, according to a survey of insurers by Willis Towers Watson.

Many insurtech firms are very similar in their scope and function to managing general agents – and could benefit from being part of the Managing General Agents' Association (MGAA).

Re/insurer MS Amlin has hired senior Aon executive Brecht van Hoorebeke to develop and grow its war business across continental Europe.