Intelligent Insurer News

UK commercial insurer RSA has appointed Mandy Hunt to succeed Colin Bradbury as chief underwriting officer (CUO) for commercial risk solutions (CRS), RSA UK & International.

US private equity firms Highbridge Principal Strategies (HPS) and Madison Dearborn Partners (MDP), which have a major shareholding in brokerage group Ardonagh, have acquired UK-based fee protection insurance company PFP.

At the launch of a new industry-wide pledge designed to change behaviours and create a more inclusive work environment across the sector, Lloyd’s of London CEO Inga Beale has acknowledged that a lot has been achieved – but that more must be done and work needs to go on.

Allianz Group's specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) has appointed Tim McGain as regional head of property in London.

Broker Aon has appointed Andrew Matson as leader of its newly formed global portfolio broking team within the reinsurance solutions business.

Traditional insurers are struggling to offer appropriate insurance products that address the particular needs of the sharing and gig economies, according to experts at a 2018 Insurtech Insights conference panel discussion on June 19 and 20 in London.

DUAL, the underwriting arm of Hyperion Insurance Group, has overhauled its leadership team hiring a new chief executive. It said the move has been prompted by a desire to grow in the UK and internationally.

Intrepidus Insurance Services, a Bermuda insurance broker, has had its registration to operate revoked by the Bermuda Monetary Authority (BMA) following an investigation triggered by a complaint against the company.

Rating agency AM Best has removed the financial strength ratings of AmTrust Financial Services’ insurance units from under review with negative implications and assigned them a rating of ‘A-’ with a stable outlook.

The Bermuda market passed the tests of 2017, which took the form of heavy losses triggered by large catastrophe claims, with flying colours, according to the CEO of The Association of Bermuda Insurers and Reinsurers (ABIR), speaking in relation to the results of its annual survey and report.

Israel-based insurtech start-up Planck Re, an artificial intelligence (AI) driven commercial insurance data platform, has raised $12 million Series A in its first funding round.

Broker Ed has hired Souvik Goswami in its Dubai office to lead its treaty business across the Middle East and North Africa (MENA), as well as India and the Indian sub-continent.

Mitsui Sumitomo Insurance Company Europe (MSIEU), a wholly owned subsidiary of MSI, has concluded strategic alliance agreements with ICEA LION General Insurance Company in Kenya, and International Commercial and Engineering Seguros (ICE) in Mozambique.

Marsh & McLennan Agency (MMA), the middle market agency subsidiary of Marsh, has acquired Klein Agency, a St. Paul, Minnesota-based surety and property/casualty agency specialising in the construction industry.

California-based insurtech firm Trov has begun to roll out its on-demand insurance offering in the US a year after having received regulatory approval.

Specialist insurer Tokio Marine Kiln (TMK) has established a $100 million intellectual property (IP) facility with broker Aon and several other Lloyd’s syndicates.

Insurtech Bought By Many has closed a £15m Series B funding round led by CommerzVentures, the corporate venture capital arm of Germany’s Commerzbank with participation of insurance broker Marsh.

Zurich Insurance Group has appointed Mark Peters as the new head of Oak Underwriting, a UK-based high net-worth insurance specialist, which it acquired from RSA Insurance.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), a multi-risk insurance pool designed to protect the region, has appointed a new chairman for a three-year term.

Hive Aero, a new managing general agency (MGA) specialising in aviation hull war insurance, has appointed Will Gaunt as class underwriter.