Intelligent Insurer News

Growth in reinsurance and mortgage operations drove underwriting profits and improved combined ratio at Bermuda-based Arch Capital Group in the second quarter of 2019.

Everest Re Group’s CEO praised the firm’s “outstanding result” in the second quarter of 2019 as it reported growth in written premiums and net income in its results for Q2 2019 and the first six months of the year.

Broker Willis Towers Watson has appointed Peter Foster as chairman of global FINEX cyber and cyber risk solutions.

Asian insurer FWD partners with Pacific Life Re on automated underwriting technology

AXA XL Insurance has appointed Simona Fumagalli as head of international financial lines, Europe, based in Milan.

Property/casualty insurer Chubb has appointed Janene Blizzard as vice president of accident and health for the UK and Ireland and its Eurasia and Africa region.

As Michael Gove, a senior minister in Prime Minister Boris Johnson’s new government, told the UK’s Sunday Times newspaper that the government was working to the assumption of a no-deal Brexit, the London Market Group (LMG) has published its Brexit update report ‘A new relationship with the European Union’.

Broker Arthur J Gallagher saw “outstanding” results in the second quarter of 2019, while its half year figures, also ending June 30 2019, showed healthy growth in its brokerage segment.

Re/insurer AXA XL has made three key appointments to its London reinsurance team from Hiscox and Greenlight.

Specialty managing general agent (MGA) Nexus Group has acquired Plus Risk (PRL), a London-based financial and professional lines MGA providing management liability and niche professional indemnity insurance.

Hiscox has delivered profits in its results for the first six months of 2019 “despite a more challenging claims experience”, said Bronek Masojada, chief executive at the re/insurer.

Bermuda-based reinsurer PartnerRe enjoyed solid growth and improved non-life combined ratio in the second quarter of 2019. The results were driven by strong property/casualty performance and investment gains.

Investors splurged $1.41 billion on insurtech firms in the second quarter of 2019, marking the fourth consecutive occasion where investments exceeded $1.2 billion.

Lloyd's insurer and member of Argo Group, ArgoGlobal, has appointed John Moffatt to serve as active underwriter for Syndicate 1200, replacing Steve Eccles who is leaving the company immediately.

US-based independent agency Cobbs Allen has launched a specialty insurance brokerage business with the hiring of senior insurance executives Paul Sparks and Darren Sonderman.

Broker Marsh has appointed Ian Drillot as new head of office, Marsh Captive Solutions, Guernsey, succeeding Stephen Hawkes, who is returning to the UK to take up a new role developing the company's international captive solutions.

Broker Aon reported “strong organic revenue growth”, for the fourth consecutive quarter, in its 2019 second quarter results, published today (26 July).

Property/casualty insurance holding company Kingstone, through its wholly-owned subsidiary Kingstone Insurance Company (KICO), has signed new reinsurance treaties with multiple carriers for the treaty year beginning July 1, 2019.

Blue Capital Reinsurance Holdings has decided to cease active operations and pursue an orderly run-off of its liabilities and in-force portfolio and return capital to shareholders as it winds up operations.

Bermuda-based Arch Capital Group' US mortgage insurance operation Arch Mortgage Insurance Company (Arch MI) has confirmed a $700 million of indemnity reinsurance from special purpose reinsurer Bellemeade Re 2019-3 in an insurance-linked security (ILS) deal.