Intelligent Insurer News

Rating agency AM Best has withdrawn its ratings of Lloyd’s Syndicate 1225, which is managed by AEGIS Managing Agency, at the firm's request.

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has promoted Andrew Pedler to the newly created role of claims manager – client relationships.

McLarens, a global loss adjusting firm specialising in complex and commercial claims, has hired Stuart Crofton from Cunningham Lindsey as head of its property loss adjusting division in Australia.

Federated National Holding Company has finalised its excess of loss catastrophe reinsurance programme for 2018-2019.

AXIS Re, the reinsurance segment of Bermuda-based AXIS Capital Holdings, has revealed a series of strategic changes intended to increase client satisfaction and drive profitable growth.

Hurricanes Harvey, Irma and Maria - along with the Californian wildfires - all contributed to the costliest year on record for the UK specialty insurance market in 2017, according to EY’s annual specialty results analysis.

SCOR has become the first reinsurer to use the new UK ILS regime to issue a catastrophe bond.

US-based property/casualty insurer Hanover Insurance Group has appointed Frank Baron as president of alternative markets, a newly formed business unit within the company's domestic specialty group.

MassMutual International has completed its sale of 85.1 percent of MassMutual Japan - its wholly-owned life insurance and wealth management affiliate - to Osaka-based mutual life insurer Nippon Life.

The Hartford's run-off life and annuity businesses Talcott Resolution has been acquired by an investor group, and will now operate as an independent stand-alone insurance company headquartered in Windsor, Connecticut, with an office in Woodbury, Minnesota.

Insurer Chubb has strengthened its energy industry practice with two new leadership appointments for the mid and large market segments.

Wilmington Trust has appointed Michael Ramsey as a client development officer for its insurance collateral solutions team, part of the company’s global capital markets division.

Broker Aon has appointed Andrew Marcell as chief executive officer of its reinsurance solutions business.

London-based Envelop Risk, a newly-launched global specialty cyber insurance analytics and underwriting firm, has appointed former chairman and CEO of XL Capital (now XL Group) Brian O’Hara to its board of directors.

Insuretech platform FitSafe has received a $250,000 investment from insurance broker SterlingRisk which acquired a passive, one percent minority equity interest in the firm, valuing the startup at $25 million.

The global cyber insurance market is a mess right now, argues Tom Johansmeyer of PCS, Verisk Insurance Solutions, while debating potential consequences and solutions.

Universal Property & Casualty Insurance Company (UPCIC) has expanded the top of its reinsurance tower for a single Florida event by $350 million to $3.00 billion as part of Universal Insurance Holdings’ 2018-2019 reinsurance programmes, effective June 1, 2018.

Tom Johansmeyer of PCS, Verisk Insurance Solutions, takes a look at the potential in cyber risk transfer.

Hiscox recently announced it had expanded into the ILW market with a new cyber ILW product – the first to respond specifically to cyber losses. Devin Page, assistant vice president – underwriting, Hiscox Re, explains how Hiscox developed the new product and how innovation and ILWs may be natural bedfellows.

The first quarter of 2018 has seen record levels of growth in the ILS market. Intelligent ILS investigates.