Intelligent Insurer News

The Directors and Officers (D&O) market is losing insurers money and needs to be realigned after the number of carriers shot up over the last decade, said a leading industry player.

BMS Group has secured a long-term equity investment, which values the specialist re/insurance broker at £500 million, from British Columbia Investment Management Corporation (BCI) and Preservation Capital Partners (PCP).

US insurance brokerage and risk management firm Risk Strategies has appointed its president John Mina as new chief executive officer (CEO).

UK-based insurtech firm Inzura.ai, which offers insurers and brokers mobile-centric tools designed to accelerate user engagement and company profits using advanced machine learning, integrated dashcams and AI, has hired a senior industry telematics specialist to further expand its business.

Cyber and specialty lines MGA Ascent Underwriting has hired two cyber underwriters Kieran Shiret and Henry Rydon.

The Insurance Fraud Investigators Group (IFIG) has partnered with Verisk to upgrade its technology to include a cloud-based e-alerts platform to tackle the ever evolving problem of insurance fraud.

Specialist insurance provider CFC has bought Solis Security, a Texas-based incident response provider, to increase its in-house cyber incident response capabilities.

Global insurance broker and risk adviser Marsh has made four senior appointments to Marsh JLT Specialty’s Aviation Practice in London and New York.

Steve Hales has been appointed CEO of Bermuda-domiciled reinsurer Resolution Re, part of the Resolution Life Group.

German reinsurer Munich Re has injected $250 million in California-based digital insurer Next, in addition to its initial investment of $29 million the insurtech's Series A funding.

London-based insurtech, called Artificial, has launched the Artificial Beta Community project to shape the future of insurance software by uniting underwriters, brokers and MGAs with the company’s own team of data and machine learning experts.

Bermuda-based re/insurer Arch Capital Group is expecting approximately $65 to $75 million (pre-tax) losses related to 2019 third quarter catastrophic events.

Fitch Ratings has warned that UK motor and home insurers could see a drop in profits next year as the regulator, the Financial Conduct Authority (FCA), moves to end high prices for customers who do not shop around for a better deal.

The Hanover Insurance Group has launched a new stand-alone, non-admitted cyber offering for commercial lines agents and their clients.

Hive Aero, a managing general agency (MGA) specialising in aviation hull war insurance, has hired Mark Shurville as aviation analyst.

UK insurance broker Aston Lark has appointed Andrew Scola to its executive leadership team in the newly created role of group chief technology and operating officer.

Prolonged lower interest are rates a bigger worry than Brexit for insurers.

Some 200 re/insurance professionals will gather in Brussels this week to share their insights on terrorism, and help mitigate its effects.

US life insurers are financially robust, but a large number of credit downgrades could reduce their capital strength.

Paweł Stykowski has left law firm Wierzbowski Eversheds Sutherland (WES) to take up the role of local partner and head of insurance at DWF in Warsaw, Poland.