Intelligent Insurer News

Reinsurance, wholesale and specialty broker Ed has received a license to carry out general insurance mediation business by the Jersey Financial Services Commission.

Concerns over pricing, reserves, and interest rate weigh on investor sentiment in the property/casualty re/insurance sector, according to Morgan Stanley.

Australia-based QBE has been granted a license for a new Belgian subsidiary, QBE Europe to enable the company to maintain continued passporting rights across the European Economic Area (EEA) after the UK leaves the EU.

Specialty re/insurer Brit has hired Hiscox and The Hartford executives to bolster its Brit Global Specialty USA (BGSU) professional liability team.

Subtropical Storm Alberto made landfall near Laguna Beach in the Florida Panhandle on May 28 afternoon before crawling inland, according to media reports.

Swiss Re and SoftBank Group have agreed to end discussions about a potential minority investment of SoftBank in Swiss Re.

Insurtech firms have been transforming the personal lines business by delivering new applications and products for clients. But now it’s time for new technology to upgrade the commercial side of the insurance business, as Trevor Maynard, Lloyd’s head of Innovation, commercial, suggested to Intelligent Insurer.

Insurwave, a blockchain platform to support marine hull insurance is now being used by members of the marine industry.

The UK government is keen to attract insurtech firms to London and create an environment where they can thrive as part of its plan to keep the city a global insurance hub.

JLT Re has appointed Alain Bizet as senior vice president (SVP) in Miami to join the broker’s property treaty team.

US-based Insightin Health, a digital health company that provides an artificial intelligence-driven (AI-driven) customer relationship management system for health plans, announced the launch of its platform and the closing of a $2 million seed stage financing round.

Bermuda-based PartnerRe posted a first-quarter 2018 net loss attributable to common shareholder of $120 million after a net income of $38 million for the same period of 2017

The inability of the reinsurance sector to materially raise rates after 2017's major catastrophe losses shows that the traditional catastrophe reinsurance business model is "permanently" impaired, which, along with other factors, should drive sustained consolidation, according to KBW analysts.

Mid-year catastrophe reinsurance renewal rate increases are lagging January 1 hikes, notwithstanding mid-year's higher prevalence of loss-impacted accounts and hurricane Irma's continuing modest loss "creep," according to KBW.

Global re/insurer MS Amlin has appointed a new chief operating officer (COO) and chief people officer as new CEO Simon Beale repositions the business for the long term.

AM Best has placed under review with negative implications the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa” of International Insurance Company of Hannover SE (Inter Hannover) (Germany), a wholly owned subsidiary of Hannover Re.

TigerRisk Capital Markets & Advisory (TCMA), the insurance-focused investment banking subsidiary of TigerRisk Partners has created Panthera Re to facilitate access to third-party capital investors for insurance and reinsurance clients.

American International Group (AIG) has appointed Lisa Sun as CEO of AIG Insurance Company China.

Former Zurich head of financial lines Markus Haefeli and former Zurich head of financial institutions financial lines, Peter Schroeder, have launched Haefeli & Schroeder, an insurance broker specialising in financial lines.

Specialty re/insurer Canopius has appointed Stephan Ott as its new head for Continental Europe, reinsurance.