Intelligent Insurer News
The latest news from www.intelligentinsurer.com
Updated: 56 min 31 sec ago
Forced retro BI cover will have 'destructive' impact on insurers' capital, warns AM Best
Analysts suggest legislation forcing insurers to pay for COVID-19 BI losses could wipe out half of their capital.
Chubb appoints deputy chief underwriting officer of global markets
He will be responsible for London Market wholesale and specialty business including the company's Lloyd's platform.
US brokers Protecdiv, Cobbs Allen and CAC Specialty form strategic partnership
The partnership aims to broaden the footprint of both brokers in the auto, financial, energy, construction, public entity, and reinsurance markets.
Hannover Re CEO says COVID-19 losses 'impossible to quantify' but reserves €220m
The reinsurer's P&C underwriting results tumbled but total net income grew 2.5 percent in Q1 2020.
AXA 'resilient' amid COVID-19 volatility but Q1 gross revenues down
The company expects 'material impact' on 2020 earnings and 'mid triple digit million euros' COVID-19-related event cancellation claims.
Generali claims 'solid' capital position after Fitch downgrade
Italian insurer says it has already reduced the amount of sovereign debt and lowered its cost.
Assurant acquires AFAS to expand auto insurance offering
Texas-based AFAS is a provider of auto finance and insurance products and services.
OneAdvent buys UK property MGA from CFC Underwriting
Modus provides niche property insurance products to brokers across the UK.
RGA boss says Q1 results 'below expectation' as COVID-19 bites; Moody's goes negative
RGA CEO Manning warns of higher claims and credit losses, Moody's believe this could lower profitability and capitalisation.
Aon makes key appointment to chief broking officer role
The appointee will have a strategic oversight of Aon's broking function.
RenRe shuffles underwriting leadership in UK and Europe
The reinsurer has appointed a new active underwriter of Lloyd's Syndicate 1458 and CUO Europe.
AXIS CEO Benchimol says COVID-19 losses overshadowed 'an excellent quarter'
The Bermuda-based re/insurer reported a net loss of $185 million for the first quarter of 2020.
Dale poaches transportation underwriting team from Neon
Dale's new product offering will include commercial auto physical damage and motor truck cargo.
BMS recruits international chairman from Marsh-JLT
The executive most recently served as Marsh’s chairman of Middle East and North Africa.
Xceedance partners with Xemplar on mobile-based insurtech solutions
Xceedance to augment its technology capabilities for insurers looking for user-based insurance (UBI) products.
AIG places tech unit Blackboard into run-off
The carrier will take a $210 million impairment charge in connection with the run-off.
Profits slide at Arch Capital due to COVID-19 and cat losses
The Bermuda-based re/insurer reported nearly $87 million losses related to the COVID-19 pandemic.
Mapfre sees decline in profit despite 'limited' impact of COVID-19
The re/insurer expects an increase in claim activity in health, burials and life lines in the upcoming quarters.
AIG takes $272m hit from industry's 'largest cat loss ever'; withdraws guidance
AIG CEO Duperreault says the impact of COVID-19 will result in a material reduction of our long-term return profile.
THB eyes expansion under new boss, ex-QBE Matthew Crane
Former CEO Frank Murphy highlights 'robust nature of THB and AmWINS' that will help drive expansion despite the global crisis.
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