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Lloyd’s Lab launches global search for tech entrepreneurs

Intelligent Insurer News - 19 June, 2018 - 11:14
Lloyd’s Lab, the global insurance market’s new innovation accelerator, has launched a global search for what it describes as tech talent to partner with the Lloyd’s market and develop solutions for its unique and rapidly changing needs, in a fast-track, fast-fail environment.

Korean fintech start-up secures $40m investment from GIC and Sequoia

Intelligent Insurer News - 19 June, 2018 - 11:13
Viva Republica, a South Korean fintech startup that developed financial services app Toss, has secured a $40 million round of funding from Singapore-based investment firm GIC and Sequoia China.

XL Catlin partners insurtech-focused Bamboo on California property coverage

Intelligent Insurer News - 19 June, 2018 - 11:12
Re/insurer XL Catlin has entered into an underwriting agreement with a new insurtech-focused programme administrator Bamboo Insurance to provide property insurance in California.

Crawford sells legal services subsidiary for $42m to Epiq

Intelligent Insurer News - 19 June, 2018 - 11:12
Crawford & Company, a provider of claims management solutions, has sold its legal administrative services unit Garden City Group (GCG) to legal services company Epiq.

Risk Strategies acquires employee benefits brokerage Craford

Intelligent Insurer News - 19 June, 2018 - 11:12
Insurance brokerage and risk management firm Risk Strategies has acquired California-based employee consulting and benefits brokerage Craford Benefit Consultants. The deal expands its geographic footprint and builds expertise in complex cases and financial modelling.

Gallagher reveals new UK CEO, Chilton to step down

Intelligent Insurer News - 18 June, 2018 - 15:22
Arthur J Gallagher has appointed Simon Matson, currently head of Gallagher’s London Market and Alesco businesses, as the new CEO of its UK-based brokerage and underwriting division.

Allianz Partners appoints new UK and Ireland CEO

Intelligent Insurer News - 18 June, 2018 - 15:22
Allianz Partners in the UK and Ireland have appointed Tim Tozer as their new chief executive officer.

2018 hurricane season could be average, claims Moody’s

Intelligent Insurer News - 18 June, 2018 - 15:22
Cooler waters and a weak El Niño could result in an average 2018 Atlantic hurricane season, according to a new report by rating agency Moody’s.

Brown & Brown acquires US MGA C & C Risk Services

Intelligent Insurer News - 18 June, 2018 - 15:22
Insurance broker Brown & Brown has acquired substantially all of the assets of C & C Risk Services, a managing general agent (MGA) providing excess public entity insurance coverage to municipalities in Texas and Florida.

LCCG to acquire UK insurer Equitable Life

Intelligent Insurer News - 18 June, 2018 - 10:45
Specialist insurer Life Company Consolidation Group (LCCG) has agreed to acquire UK's mutual life insurer Equitable Life. The transaction is expected to complete towards the end of 2019.

AM Best upgrades PartnerRe on strong balance sheet

Intelligent Insurer News - 18 June, 2018 - 10:45
Bermuda-based PartnerRe’s balance sheet strength and risk-adjusted capitalisation are said to be at the strongest level, according to rating agency AM Best.

Ardonagh Group hires former Lloyd's CEO Ward

Intelligent Insurer News - 18 June, 2018 - 10:45
UK independent insurance broker Ardonagh Group has appointed former Lloyd's CEO Richard Ward as executive chairman of its specialty & international and MGA segments that include Bishopsgate and Price Forbes.

JLT expands M&A insurance practice with Allied World hire

Intelligent Insurer News - 18 June, 2018 - 10:45
Risk advisor and broker JLT Specialty, a subsidiary of Jardine Lloyd Thompson Group, has appointed Hayley Tennant as partner within its mergers & acquisitions (M&A) insurance practice.

Coface appoints Natixis CEO as chairman of the board

Intelligent Insurer News - 18 June, 2018 - 10:43
Credit insurer Coface has elected François Riahi, chief executive officer of Natixis, as the chairman of its board of directors.

Mapfre unit placed under review with negative implications after acquisition

Intelligent Insurer News - 18 June, 2018 - 10:43
Rating agency AM Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Mapfre Insurance Company of New York.

Lemonade sues ONE Insurance and parent wefox over copying software

Intelligent Insurer News - 15 June, 2018 - 11:01
AI-powered insurtech firm Lemonade Insurance Company has filed a lawsuit against ONE Insurance, its parent wefox Group and founder Julian Teicke, over claims of it copying Lemonade’s app and website.

FIFA World Cup poses significant challenges for insurers

Intelligent Insurer News - 15 June, 2018 - 11:00
The 2018 FIFA World Cup in Russia involves a number of significant risks for those involved, including the World Football association, FIFA, organisers in Russia, sponsors and broadcasters, along with the football players and fans.

Sompo launches M&A transaction risk insurance in Europe

Intelligent Insurer News - 15 June, 2018 - 10:31
Bermuda-based property and casualty re/insurer Sompo International Holdings has launched a new transaction risk insurance line of business, expanding its professional lines insurance offerings, in Europe.

Ironshore bolsters M&A unit with Aon, AIG and XL hires

Intelligent Insurer News - 15 June, 2018 - 10:31
Ironshore has expanded its mergers & acquisitions (M&A) team to meet the growing demand in the Americas and develop new solutions to address the complex transactional risks. The company has hired senior executives from Aon, AIG and XL Catlin.

Niche reinsurer Sequoia enters market, led by PartnerRe veteran

Intelligent Insurer News - 15 June, 2018 - 10:31
US-based Sequoia Reinsurance has begun operations focusing on HMO reinsurance and provider excess, while appointing former PartnerRe executive Dan Bolgar as its CEO.

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