Intelligent Insurer News

Spanish based global re/insurer Mapfre reported modest revenue and premium growth overall in its results for the first half of 2019, but its reinsurance business Mapfre Re fared less well with a nearly 30 percent drop in net profit results.

Specialty insurer Markel Corporation intends to establish a new retrocessional insurance linked securities (ILS) fund platform ahead of the 2020 renewal period in Bermuda, comprised of a reinsurance company, fund entity and investment manager.

Reinsurance Group of America (RGA) has appointed Hamilton CEO Pina Albo to its board of directors, increasing the female representation on its board to 38 percent.

Specialty insurance group Tokio Marine HCC has formed a new Mexican subsidiary to further expand its international surety operations.

Insurer AXA XL has partnered with insurtech managing general underwriter (MGU) Vindati to offer Ocean Cargo insurance for small and middle-sized businesses in the US.

RSA Insurance Group has appointed Christian Coletta as new managing director of its Spanish business with immediate effect.

Bermuda-based insurance company Lancashire Holdings’ group CEO Alex Maloney highlighted the firm’s “good new business momentum” in the first half of the year as his group reported its H1 2019 results.

Allianz Insurance has appointed Claire Buck to the position of head of commercial lines pricing.

Global natural disaster losses during the first half of 2019 were below average when compared against a 10-year average, according to a new report by Aon's Impact Forecasting.

Technology-driven risk solutions provider Sedgwick has appointed key executives to support its international growth strategy.

Specialty insurance group Tokio Marine has appointed Stuart Wolstenholme and Lucy Smith to further expand its international media, film & TV capabilities within its professional risks division.

The second quarter of 2019 was about "growth and pricing" for Chubb chief executive officer Evan Greenberg, who noted that the company benefited from an improved pricing and underwriting environment.

The 2019 half year results for French reinsurer SCOR “deliver a strong performance”, according to Denis Kessler, company chairman and CEO.

As Prime Minister Boris Johnson started selecting his cabinet yesterday, after being chosen as leader of the Conservative party, his choice of Sajid Javid for chancellor was welcomed by the Association of British Insurers (ABI).

Hippo, a California-based insurtech focused on the home insurance market, has secured $100 million Series D funding to fuel expansion of its footprint in the US.

Australian broker PSC Insurance Group is acquiring 100 percent of the share capital of Lloyd’s and London Market broker Paragon International Holdings for a base consideration of £42 million (approximately A$75 million).

American International Group (AIG) has created a position of chief sustainability officer to lead the development and implementation of a company-wide sustainability strategy.

Florida-based MGAguard, a new technology-enabled platform for specialty insurance underwriting, has commenced operations targeting the hospitality and taverns industry.

Analytics and insurance software provider Qomplx, formerly known as Fractal Industries, has secured $78.6 million Series A financing led By Cannae Holdings and Motive Partners.

Property/casualty insurer Kingstone Companies has decided to no longer underwrite commercial liability risks following a review by its new chief executive Barry Goldstein.