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SCOR is first reinsurer to sponsor UK cat bond

Intelligent Insurer News - 1 June, 2018 - 10:16
SCOR has become the first reinsurer to use the new UK ILS regime to issue a catastrophe bond.

The Hanover hires alternative markets unit leader from Zurich

Intelligent Insurer News - 1 June, 2018 - 10:16
US-based property/casualty insurer Hanover Insurance Group has appointed Frank Baron as president of alternative markets, a newly formed business unit within the company's domestic specialty group.

Nippon Life acquires 85.1% stake in MassMutual Japan

Intelligent Insurer News - 1 June, 2018 - 10:15
MassMutual International has completed its sale of 85.1 percent of MassMutual Japan - its wholly-owned life insurance and wealth management affiliate - to Osaka-based mutual life insurer Nippon Life.

The Hartford completes Talcott sale

Intelligent Insurer News - 1 June, 2018 - 10:15
The Hartford's run-off life and annuity businesses Talcott Resolution has been acquired by an investor group, and will now operate as an independent stand-alone insurance company headquartered in Windsor, Connecticut, with an office in Woodbury, Minnesota.

Chubb appoints new energy practice leaders

Intelligent Insurer News - 1 June, 2018 - 10:15
Insurer Chubb has strengthened its energy industry practice with two new leadership appointments for the mid and large market segments.

Wilmington Trust adds to insurance collateral solutions team

Intelligent Insurer News - 1 June, 2018 - 09:19
Wilmington Trust has appointed Michael Ramsey as a client development officer for its insurance collateral solutions team, part of the company’s global capital markets division.

Aon appoints new reinsurance solutions CEO

Intelligent Insurer News - 31 May, 2018 - 14:14
Broker Aon has appointed Andrew Marcell as chief executive officer of its reinsurance solutions business.

Envelop Risk bolsters board with former XL Group CEO

Intelligent Insurer News - 31 May, 2018 - 14:14
London-based Envelop Risk, a newly-launched global specialty cyber insurance analytics and underwriting firm, has appointed former chairman and CEO of XL Capital (now XL Group) Brian O’Hara to its board of directors.

Insurtech FitSafe attracts $250k strategic investment

Intelligent Insurer News - 31 May, 2018 - 13:22
Insuretech platform FitSafe has received a $250,000 investment from insurance broker SterlingRisk which acquired a passive, one percent minority equity interest in the firm, valuing the startup at $25 million.

Cyber industry loss warranties aid affirmative and silent cover

Intelligent Insurer News - 31 May, 2018 - 13:14
The global cyber insurance market is a mess right now, argues Tom Johansmeyer of PCS, Verisk Insurance Solutions, while debating potential consequences and solutions.

Universal expands reinsurance tower to $3bn

Intelligent Insurer News - 31 May, 2018 - 12:22
Universal Property & Casualty Insurance Company (UPCIC) has expanded the top of its reinsurance tower for a single Florida event by $350 million to $3.00 billion as part of Universal Insurance Holdings’ 2018-2019 reinsurance programmes, effective June 1, 2018.

Retro: what cyber needs next

Intelligent Insurer News - 31 May, 2018 - 11:30
Tom Johansmeyer of PCS, Verisk Insurance Solutions, takes a look at the potential in cyber risk transfer.

Taking the cyber lead

Intelligent Insurer News - 31 May, 2018 - 11:06
Hiscox recently announced it had expanded into the ILW market with a new cyber ILW product – the first to respond specifically to cyber losses. Devin Page, assistant vice president – underwriting, Hiscox Re, explains how Hiscox developed the new product and how innovation and ILWs may be natural bedfellows.

ILS market reports record Q1 issuance

Intelligent Insurer News - 31 May, 2018 - 10:53
The first quarter of 2018 has seen record levels of growth in the ILS market. Intelligent ILS investigates.

Beazley to split specialty lines

Intelligent Insurer News - 31 May, 2018 - 10:05
Specialty insurer Beazley plans to split its specialty lines division into specialty (casualty) and TMB (cyber / management liability), according to Jefferies analysts who welcomed the move given the differing growth profiles and profitability.

AIG carries reserve cushion first time since 2010

Intelligent Insurer News - 31 May, 2018 - 10:00
American International Group (AIG) is carrying a “modest” $17m excess reserve cushion, the first redundancy since 2010, according to Morgan Stanley research.

Hamilton forms new capital management unit; hires Horseshoe COO

Intelligent Insurer News - 31 May, 2018 - 09:58
Bermuda-based Hamilton Insurance Group has appointed Brenton Slade as senior vice president of Hamilton Capital Partners, a new business unit that will be tasked with the development of the company's capital management capabilities.

Mt. Logan Re CEO steps down

Intelligent Insurer News - 31 May, 2018 - 09:56
Rick Pagnani, the chief executive officer (CEO) of Everest Re Group's specialist reinsurer Mt. Logan Re, is stepping down after leading the Bermuda-based company for five years.

Icahn slams AmTrust go-private voting process

Intelligent Insurer News - 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

Intelligent Insurer News - 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.

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