Intelligent Insurer News

The market for Insurance-Linked Securities (ILS) is resilient in 2019 with continued support for new issuance, despite hurricanes and other events leading to a challenging market.

As Hurricane Dorian continues to threaten the southeast US coast, a credit ratings firm has identified the primary insurers that could be most affected.

Specialty re/insurer Chaucer has appointed Catherine Soyka as deputy class underwriter for its treaty team in Singapore, as part of its strategy to build a broad marine and non-marine treaty underwriting team to service local clients in the Asia Pacific and Middle East Regions.

North American property and casualty (P&C) insurers have seen modestly weaker underwriting margins, Fitch Ratings has found.

Specialist reinsurance broker Capsicum Re has made four key appointments for its cyber team in London, following the recent launch of a new holistic cyber reinsurance solution, Decrypt, co-created with Swiss Re.

Re/insurance broking and advisory firm Beach & Associates has appointed Gavin Johns and Richard Emson to its London wholesale division.

Willis Re, the reinsurance business of Willis Towers Watson, has appointed Franck Pinette as new leader of its international life & health practice. He succeeds Greg Solomon who is leaving the broker to pursue new career opportunities.

Pioneer Underwriters has appointed Sam Bishop as an underwriter in its renewable energy team, based in London.

As hurricane Dorian, now downgraded to a category 3 from category 5, looms over the south east coast of the US, the National Hurricane Center has warned of a “life threatening storm surge, heavy rainfall and tornadoes” affecting the Carolinas.

Data loss from a leading operating system provider could rack up insurance losses of more than $23 billion, according to a study of major cyber risks.

Credit and political risk insurance (CPRI) broker BPL Global has brought reinsurance expertise in-house with the appointment of Gregory King-Underwood as director and head of global reinsurance and portfolio solutions.

Gallagher has acquired RGA Group, a UK insurance intermediary specialising in landlords insurance and the lettings industry.

Bermuda-based re/insurer Hiscox has appointed Joanne Musselle as its new group chief underwriting officer (CUO), replacing Richard Watson.

Insurance technology firm Tremor has raised $10 million in new funding, with industry veteran WR Berkley joining existing backers, including venture capitalist Anthemis Group, the lead investor.

London insures are transferring as much as £61 billion of business to other financial centres in the European Union, as a result of Brexit.

RKH Specialty, part of the Hyperion Insurance Group, has made a series of senior hires from JLT Re, Willis and Ascot in Asia, and rebranded its Hong Kong-based marine insurance specialist FP Marine to further expand its capabilities in the sector globally.

Broker Marsh has recruited senior cyber, cryptocurrency and digital asset insurance experts from MS Amlin and Willis Towers Watson for its UK financial & professional (FINPRO) practice.

AXA XL Insurance has promoted Paul Howard to strengthen its coverholder capabilities in the UK by increasing collaborations and access to its wide product suite.

Property/casualty insurance risk information provider PCS, a Verisk Analytics business, has launched its catastrophe loss index for Mexico.

New Dawn Risk is offering a new segmented product aimed at covering the risk of cyber attacks in the UK.