Intelligent Insurer News

French reinsurer SCOR grew its property and casualty (P&C) premiums by 9.7 percent at constant exchange rates at the January 2019 renewals, from €2.9 billion to €3.2 billion.

German re/insurer Talanx Group, the parent company of Hannover Re and HDI, recorded large losses in industrial lines in the financial year 2018, driven by the industrial fire line. The firm is looking to counteract this negative impact and reduce its combined ratio.

Reinsurance, wholesale and specialty broker Ed has appointed Laura Skaanild as client director, professional and executive risk from Willis Towers Watson.

Coverys Managing Agency, the Lloyd’s managing agent of Syndicates 1975, 1991, 3330, and 1110, has appointed David Reed as its non-executive chairman.

Munich Re’s CFO said 2018 had been positive for the company’s life and health reinsurance and for ERGO, which both beat their profit guidance for the year, as the firm published its year end results.

Generali Global Assistance, a division of the Europ Assistance Group, has acquired a 100 percent stake in travel insurance managing general agent (MGA) Trip Mate from Arthur J Gallagher.

Bermuda-based Sompo International has appointed Christopher Gallagher to the board of directors as an executive director.

RSA Insurance Group has promoted its chief financial officer Scott Egan to become the new chief executive (CEO) of UK and International division, replacing Steve Lewis.

Insurers that embrace artificial intelligence and automation will gain a competitive edge that could help them swallow their rivals in the future, experts have said.

Markel year end results showed losses in shareholder income as the company was affected by declines in both our fixed income and equity portfolios, driven by an increase in interest rates and unfavorable movements in the equity markets during 2018, the co-chief executive officers Thomas S. Gayner and Richard R. Whitt said. However, the two leaders pointed to a more optimistic year ahead saying they are “excited” about the strategic opportunities of the Nephila acquisition competed in the fourth quarter of 2018.

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 France-based La Parisienne Assurances (LPA) to expand its services across Europe.

Specialist insurance and reinsurance market Lloyd’s has appointed David Duclos as non-executive chairman of Lloyd’s Global Network, where he will play a key advisory role in the development of Lloyd’s international network.

Specialist insurer Beazley has created a new division, called cyber and executive risk (CyEx), to be led by Mike Donovan.

Specialist insurer Hiscox has led a $58 million Series D funding round of insurtech CoverHound, with additional investors including Chubb, Aflac Ventures and Japan-based MS&AD.

Chubb 2018 results show “a very good year” despite higher catastrophe losses than expected, said Evan G. Greenberg, chairman and chief executive officer of the property and casualty insurance firm.

Insurer Chubb has launched a new media industry practice for the UK and Ireland in response to "segment growth and feedback from key broker partners".

WR Berkley Corporation has appointed Arthur Davis as new president of Vela Insurance Services, succeeding David Jordan, who has moved to another senior leadership position at a Berkley portfolio company.

Global Risk Partners (GRP), a specialist investment vehicle for brokers and managing general agents (MGAs), has acquired a UK-based firm with a portfolio of nine leading specialist insurance broking and managing general agency (MGA) businesses.

Re/insurance Aon has formed a strategic alliance with insurtech firm Claim Central to digitise and streamline its claim management capabilities, and drive innovation.

Specialty insurance company ProAssurance Corporation is expecting to report a net loss of $9 million to $10.5 million from its London market business, prompting a "strategic review" of its Lloyd's syndicates.