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Chubb hires AXA US CEO Miller for Continental Europe

Intelligent Insurer News - 18 September, 2018 - 15:47
Insurer Chubb has hired the former US president and CEO of AXA Insurance Company for a newly-created role in Continental Europe.

AXA closes $69m Emirates Re deal

Intelligent Insurer News - 18 September, 2018 - 15:40
AXA Group's specialist run-off acquirer and manager has completed the purchase of a 93 percent majority stake in Emirates Re, with a total of $69 million gross reserves.

Marsh acquires JLT for $6.4bn

Intelligent Insurer News - 18 September, 2018 - 11:10
Marsh & McLennan Companies (MMC) is acquiring re/insurance broker Jardine Lloyd Thompson Group (JLT) for $6.4 billion.

Tokio Marine Kiln hires Novae CFO as Dover departs

Intelligent Insurer News - 18 September, 2018 - 10:59
Tokio Marine Kiln (TMK) has appointed Reeken Patel as chief financial officer (CFO), replacing James Dover who is leaving the business after 12 years in the position.

SCOR rumoured to face new takeover approach by Covéa

Intelligent Insurer News - 18 September, 2018 - 10:46
French cooperative insurer Covéa is working on a new approach to its planned takeover of reinsurer SCOR after its friendly €8.2 billion offer was rejected earlier in September, Reuters reported citing “two sources close to the deal”.

FedNat estimates Hurricane Florence loss at $4m

Intelligent Insurer News - 18 September, 2018 - 10:39
FedNat currently estimates that its aggregate gross liabilities as a result of Hurricane Florence will be $4 million based on preliminary post-landfall catastrophe model estimates.

Chubb appoints new reinsurance officer

Intelligent Insurer News - 18 September, 2018 - 10:39
Insurer Chubb has named Jeremiah Konz as executive vice president, reinsurance officer for its international general insurance business Chubb Overseas General.

Hurricane Florence to expose gaps in flood insurance

Intelligent Insurer News - 18 September, 2018 - 10:39
Hurricane Florence is likely to expose the flood protection gap of homeowners in the Carolinas and other vulnerable regions, according to the Associated Press.

Ascot MGA Ethos appoints new CEO

Intelligent Insurer News - 18 September, 2018 - 10:38
Ascot Group’s US managing general agent (MGA) platform Ethos Specialty Insurance Services has appointed Rory Cline as its new president and CEO.

Thomas Miller acquires MGA operations

Intelligent Insurer News - 18 September, 2018 - 10:38
Insurer Thomas Miller has acquired the managing general agency (MGA) and insurance services operations of Hamburg-headquartered specialist insurance services group Zeller Associates.

Hurricane Florence insured loss estimated at $2.5bn

Intelligent Insurer News - 18 September, 2018 - 10:38
Insured losses from Hurricane Florence will be around $2.5 billion, according to KCC estimates.

Insurtech Setoo secures €8m funding from AXA

Intelligent Insurer News - 18 September, 2018 - 10:38
Setoo, a London-based insurance and protection-as-a-service company, has closed an €8 million Series A funding round with AXA’s insurtech startup studio Kamet.

Florence losses likely to be largely retained by insurers: Moody’s

Intelligent Insurer News - 17 September, 2018 - 10:55
Losses from Hurricane Florence will be largely retained by property/casualty insurers only “dampening” their third quarter earnings. Only reinsurers and ILS funds with low attachment points may find themselves subject to claims, according to a report by Moody’s, which also predicted no cat bonds would be triggered.

Insurers brace for a hit as Typhoon Mangkhut lashes HK and China

Intelligent Insurer News - 17 September, 2018 - 10:43
Shares in several insurers in Asia have slumped on the back of Typhoon Mangkhut causing devastation in Hong Kong and Southern China.

Typhoon Jebi expected to cost up to $5.5bn: RMS

Intelligent Insurer News - 17 September, 2018 - 10:43
Risk modelling firm RMS has estimated that the insured loss for Japan from Typhoon Jebi will be between $3 billion and $5.5billion (¥340 to ¥620billion).

BMS bolsters energy division with JLT, Price Forbes hires

Intelligent Insurer News - 17 September, 2018 - 10:21
Broker BMS Group has hired four new executives from JLT and Price Forbes to expand its energy division.

Aon hires PwC exec to lead EMEA M&A infrastructure

Intelligent Insurer News - 17 September, 2018 - 10:20
Broker Aon has hired a PwC executive to expand its merger and acquisitions (M&A) and transaction solutions capability for infrastructure.

Sedgwick creates biggest global marine claims team

Intelligent Insurer News - 17 September, 2018 - 10:00
The marine claims divisions of Sedgwick and Cunningham Lindsey’s have been merged creating the largest team in the world of marine claims services. Sedgwick acquired Cunningham Lindsey in April 2018.

Hurricane Florence floods devastate North Carolina

Intelligent Insurer News - 17 September, 2018 - 09:32
Hurricane Florence drenched North Carolina with more downpours on Sunday, Sept. 16, in damaging tens of thousands of homes and threatening worse flooding as rivers fill to the bursting point, Reuters reported on Sept. 16.

Neal faces wide range of problems at Lloyd’s

Intelligent Insurer News - 17 September, 2018 - 09:29
Lloyd’s is in danger of falling behind the rest of the re/insurance industry if its new chief executive officer John Neal does not get a firm grip relatively quickly, according to Gavin Coull, partner and head of reinsurance at legal firm BLM.

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