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Updated: 2 hours 54 min ago

Icahn slams AmTrust go-private voting process

31 May, 2018 - 09:54
AmTrust Financial Services has informed shareholders that "a representative of the company will count the votes and act as an inspector of election" at the company's special meeting next week, which means that the company will act as judge and jury of the shareholder vote on June 4, according to activist investor Carl Icahn.

Munich Re-backed insurtech Wrisk raises additional £0.5m

31 May, 2018 - 09:52
Insurtech startup Wrisk, which is backed by firms like Munich Re, Hiscox and QIC, has raised over £500,000 in two days in its second crowdfunding campaign.

MGAs: Dancing to the market’s tune

30 May, 2018 - 15:26
Managing general agents (MGAs) remain a vital part of the rich tapestry of the London Market. In this report, we gathered the results of the 60 biggest MGAs in the London Market, examining their growing affinity with insurance and grilling a few on their outlook and plans for the coming years.

Allianz acquires stake in Africa Re

30 May, 2018 - 10:24
Germany-based Allianz Group has signed an agreement to acquire 8 percent in African Reinsurance Corporation (Africa Re) for a total amount of $81 million.

Aon creates new group to grow MGA, MGU network; names CEO

30 May, 2018 - 10:16
Broker Aon has created a new Carrier Solutions group, under the leadership of Karl Hennessy, to support and grow its proprietary network of managing general agents (MGAs) and managing general underwriters (MGUs).

Former Anbang chairman appeals conviction

30 May, 2018 - 10:15
Wu Xiaohui, the former chairman of Anbang Insurance Group, has appealed his conviction for fraud and embezzlement, the Financial Times reported on May 30 citing his lawyer.

Tower to raise premium after losses

30 May, 2018 - 10:14
New Zealand-based Tower has been impacted by severe and unprecedented weather and a settlement of a Peak Re dispute resulting in a half year loss of NZ$11.6 million ($8.04 million) for the half year ended March 31, 2018 compared to a loss of NZ$8.2 million in the same period a year ago.

AmTrust go-private plan supported by second advisory firm

30 May, 2018 - 10:13
Advisory firm Egan-Jones has joined Glass Lewis in recommending that AmTrust Financial Services stockholders vote "FOR" the company's merger agreement at the special meeting of stockholders on June 4, 2018.

First named storm of 2018 hurricane season causes $50m insured loss

30 May, 2018 - 10:12
The insured loss in the US from Subtropical Storm Alberto will be close to $50 million, according to Karen Clark & Company (KCC) estimates.

Malaysian Re partners with Argo Managing Agency

30 May, 2018 - 10:10
Malaysia’s national reinsurer Malaysian Re has signed a memorandum of understanding (MoU) with Argo Managing Agency, which manages ArgoGlobal Syndicate 1200 and Ariel Re Syndicate 1910 at Lloyd’s, for the provision of underwriting and technical support.

Berkshire becomes top 3 reinsurer, surpasses SCOR and Hannover Re

29 May, 2018 - 15:49
Berkshire Hathaway became the world's third-largest reinsurer in 2017 driven by the $10.2 billion American International Group (AIG) deal, pushing Hannover Re and SCOR to fourth and fifth place, respectively, according to S&P Global Market Intelligence.

Newline picks Germany for EU insurance hub in Brexit move

29 May, 2018 - 15:49
London-based specialty insurer Newline Group is launching its post-Brexit European Union insurance hub in Cologne, Germany.

AXA launches ridesharing insurance offering

29 May, 2018 - 15:48
French insurer AXA has designed a new car insurance cover in collaboration with ridesharing platform BlaBlaCar.

Insurtech Flock raises £2.25m for drone cover

29 May, 2018 - 15:48
Flock, a London-based startup that wants to use of real-time data in insurance, has raised a£2.25 million seed funding round from a range of global investors.

AIG expands pension risk business

29 May, 2018 - 15:36
American International Group (AIG) has expanded its presence in the pension risk transfer market after reaching agreements on the two largest plan termination transactions of 2017.

Amazon leads $12m investment round in insurtech Acko

29 May, 2018 - 11:51
E-commerce giant Amazon has led a $12 million funding round in Acko Technologies, which owns online general insurance provider Acko General Insurance, according to media reports.

AmTrust go-private deal gets support from Glass Lewis

29 May, 2018 - 09:33
Independent proxy advisory firm Glass Lewis has recommended that AmTrust Financial Services stockholders vote “FOR" the company's merger agreement at the special meeting of stockholders on June 4, 2018, according to a May 25 AmTrust statement.

Generali unveils new Luxembourg branch

29 May, 2018 - 09:27
Italian insurer Generali has set up a new branch in the Grand Duchy of Luxembourg dedicated to the employee benefits business.

GIC Re posts combined ratio of 104% in FY 2017

29 May, 2018 - 09:27
General Insurance Corporation of India (CIC Re) has reported a combined ratio of 104.0 percent for the financial year ended 31.3.2018 after 99.7 percent in the period ended 31.3.2017.

Castel opens in Amsterdam for European expansion

29 May, 2018 - 09:26
Castel Underwriting Agencies, a managing general agent (MGA) formation platform, has opened its first branch office in Amsterdam, Netherlands to support plans to expand its operations in Europe as the UK leaves the EU.

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