Intelligent Insurer News

Risk management firm Gallagher Bassett (GB) is acquiring the assets of loss adjusting and claims management firm Adjusting Associates to further expand its size and offerings in the UK.

Property/casualty insurer Chubb has appointed Marcos Gunn as senior vice president, Chubb Group and regional president, Latin America.

Barbican Protect, the UK insurance arm of Barbican Insurance Group, has appointed Paula McManus as head of professional indemnity (PI) for its London operations.

The underwriting division of GRP, which consists of seven niche and speciality line MGAs representing over £100 million in gross written premiums, is one of the newest members of the MGAA. The division’s chief executive officer Clive Nathan discusses why now is a good time for MGAs to flourish.

Managing general agents have been popular in the market recently, but what’s been driving this popularity? Intelligent Insurer speaks to a number of newly formed ventures to find out.

There has been a reshuffle at Marsh’s aviation practice with the exit of key team members and the impending arrival of an experienced insurance executive from Boeing.

Lloyd's broker and delegated authority specialist SSL Endeavour is expanding into Cypriot and Greek markets with the launch of SSL Endeavour Cyprus & Greece, pending regulatory approval.

AXA’s results for the first half of 2019 showed that the “strategy was paying off',' according to the French insurer’s CEO Thomas Buberl, as he called 2018 “a decisive year for the group’s transformation process”.

AmTrust Financial Services, through its subsidiary AmTrust International, has acquired Legal Insurance Management Group (LIM), a specialist in the legal expenses, professional fees, home emergency and vehicle breakdown insurance markets in the UK and Ireland.

Broker Willis Towers Watson has launched a "action plan" specifically to deal with disruption caused by drones as the incidents have increased sharply in the last two-three years, raising concerns for the aviation insurance industry.

BGC Insurance Group (BGCI), a division of global brokerage firm BGC Partners which owns Ed and Besso, has appointed Mark Costin and Oyin Heath to join its newly-formed global aviation and space re/insurance broker as senior partners.

Bermuda-based Everest Re Group has hired Chubb's Juan Andrade as chief operating officer (COO) effective September 1, 2019. He will succeed Dominic Addesso as president and chief executive officer (CEO) of the company from January 1, 2020.

Property/casualty insurer Chubb has appointed Juan Luis Ortega as executive vice president, Chubb Group and president, overseas general insurance.

AXIS Re, the reinsurance business segment of Bermuda-based AXIS Capital Holdings has appointed Jason Busti as president of North America.

Lloyd’s Lab, the experimental development hub for Lloyd’s of London, has unveiled its third cohort of 11 teams, which include AI, big data, microweather technology, risk modelling and language processing innovators. Lloyd's chair Bruce Carnegie-Brown said the selected firms are the "brightest and best talent from the technology sector".

London-based insurtech Zego, a provider of pay-as-you-go insurance for drivers and riders who work flexibly with their own vehicles, has partnered with Uber-leasing car rental startup Splend to provide cover for its UK fleet.

London-based EC3 Brokers has expanded its UK contingency and entertainment division with senior appointments. The new members are the latest joining from Integro Insurance Brokers following James Murphy as head of broking in May.

Specialty insurer Markel International has appointed Mark Nunn as energy underwriter based in Singapore.

Profits soared at Italian insurer Generali as it exceeded all targets in excellent first half 2019 results, partly driven by disposals but mostly due to positive developments in all business segments including life, property & casualty and asset management.

Mergers and acquisitions (M&A) in the global insurance industry are at their highest level for four years up 13 percent to 222 deals completed worldwide in the first six months of 2019 from 196 deals in the six months before.