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Insurtech Socotra secures $5.2m funding from MS&AD, Nationwide and 8VC

13 February, 2019 - 10:33
San Francisco-based Socotra, an insurtech startup, has raised an additional $5.2 million in funding from Mitsui Sumitomo, Nationwide and venture firm 8VC.

S&P: European insurers ‘well positioned’ for even no deal Brexit

13 February, 2019 - 10:14
European insurers are well positioned to manage the disruption caused by Brexit but, warns global ratings agency S&P, any wider global downturn will bring volatility, which is likely to mean persistent low interest rates.

RFIB expands African operations with new headquarters

12 February, 2019 - 15:44
Lloyd's re/insurance broker RFIB Group has established new permanent offices in Montecasino, Johannesburg, to further expand its presence in Africa.

AXA XL to cut 711 jobs in Europe as it begins major restructuring

12 February, 2019 - 15:29
Re/insurer AXA XL will slash 711 jobs from its European businesses as part of a major restructuring plan following its integration with the XL Group.

Munich Re's ERGO sells Russian non-life business to RESO-Garantia as it refocuses

12 February, 2019 - 15:15
Munich Re's primary insurance unit ERGO Group is selling its non-life insurance business in Russia to RESO-Garantia as part of what it called an international portfolio optimisation strategy.

Maiden faces class action lawsuit over AmTrust reinsurance deal

12 February, 2019 - 14:53
Bermuda reinsurer Maiden Holdings is faced with battling a class action lawsuit, which alleges that the company and some of its former officers misled investors over the nature of underwriting and risk management controls relating to reinsurance agreements with AmTrust.

Argo enjoys strong growth in 2018 despite challenging market

12 February, 2019 - 14:36
Bermuda specialty re/insurer Argo Group enjoyed strong growth and better profits in 2018 by “optimising its portfolio” and growing in lines with most “profit potential” according to its CEO.

Everest Re’s 2018 results hit by catastrophes but Addesso praises performance

12 February, 2019 - 11:12
Everest Re Group’s profits dipped in 2018 as a result of high levels of catastrophe losses during the year but the company’s CEO said he was pleased to still make a profit and praised the diversification of the company’s portfolio.

StarStone closes Australia office in repositioning move; appoints Agile as agent

12 February, 2019 - 10:32
Lloyd’s underwriter StarStone is closing its Australia office following a "strategic review" and has appointed Agile Underwriting as a representative agent for the global specialty insurer in Australia and New Zealand.

Beazley-Ascot launch $50m insurtech linked Lloyd's cargo consortium

12 February, 2019 - 10:32
Bermuda-based re/insurer Ascot and specialty insurer Beazley have come together to launch a Lloyd’s based cargo consortium that uses insurtech solutions to help manage risk and claims performance.

Axa sees ‘striking’ rise in perception of climate change risk

12 February, 2019 - 09:53
Axa has seen a “striking” jump in the perception of climate change as the top emerging risk in its latest survey, said Hélène Chauveau, head of emerging risks at the company.

Skyline to launch pilot to close the global protection gap

12 February, 2019 - 09:33
Figures from Swiss Re show that “$1.3 trillion (70 percent) of global economic losses derived from natural catastrophes in the past 10 years were uninsured”. Gethin Jones and Laurent Sabatié co-founded Skyline Partners to address this gap and have started by focusing on weather risks in India. Intelligent Insurer speaks to them to find out how they plan to close the global protection gap.

Spooked ILS investors have become wary of which funds they trust

12 February, 2019 - 00:00
The spate of heavy losses in 2017 and 2018, compounded by ‘loss creep’ as some funds struggled to post accurate loss estimates, seems to have made ILS investors pause for thought, with many being much more circumspect as to where to place their money. Bermuda:Re+ILS investigates.

Aon appoints veteran Lambrou as CEO commercial risk solutions

11 February, 2019 - 15:54
Aon has named Lambros Lambrou, a 30-year veteran at the re/insurance broker, as new global CEO of commercial risk solutions.

CNA’s Robusto heartened by 2018 progress despite Q4 losses

11 February, 2019 - 15:53
Commercial insurer CNA made “significant progress in 2018” despite a fourth quarter hit by catastrophe losses, said chairman and CEO of CNAFinancial Corporation Dino Robusto as the company announced its full year results.

Ryan Specialty snaps up Oklahoma P&C broker Westphalen

11 February, 2019 - 15:32
Ryan Specialty Group (RSG), a specialty insurance services business based in Chicago, has acquired the assets and operations of Westphalen Insurance Services, an independent wholesale insurance brokerage based in Oklahoma.

AXIS taps AIG's Bob Quane as head of underwriting and portfolio optimisation

11 February, 2019 - 15:32
Bermuda-based AXIS Capital Holdings has hired AIG's Robert “Bob” Quane as head of underwriting and portfolio optimisation.

RMS shuffles Continental Europe leadership; hires new managing director

11 February, 2019 - 15:31
Risk modelling firm RMS has hired Oliver Nieswandt as managing director of Continental Europe, based in the company's Zurich office.

France draws up insurance emergency measures as hard Brexit nears

11 February, 2019 - 11:06
As the deadline for a no deal Brexit moves closer, the French government has published emergency measures relating to financial services and insurance, global law firm Clyde & Co has confirmed.

Fairfax appoints Peter Clarke as new chief operating officer

11 February, 2019 - 10:44
Canada-based Fairfax Financial Holdings, the property and casualty re/insurance conglomerate which includes OdysseyRe, Allied World and Brit, has appointed Peter Clarke as vice president and chief operating office of Fairfax.


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