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Fairfax sells two pet insurance brands to JAB Holding
23rd June 2022
Fairfax has sold its interests in C&F Pet and Pethealth Inc. to JAB Holding Company in a deal worth $1.4 billion. Fairfax will receive $1.4 billion in the form of $1.15 billion cash and $250 million in seller notes. As a result of the sale, JAB’s combined global ... Read the full article
Marsh collaborates with Zurich NA on pet insurance program
9th October 2019
Global re/insurance brokerage Marsh has announced the launch of a new pet insurance program for cats and dogs in the US, to be underwritten by Zurich North America. The program, called TrustedPals, is backed by Marsh’s Bluestream platform and will offer insurance with flexible co-payments, limits and deductibles. A self-service feature driven ... Read the full article
Bridges and Petrillo named Coastal Insurance Underwriters Presidents
29th November 2023
Coastal Insurance Underwriters (CIU), a program administrator specialising in designing, creating, and managing insurance products for a variety of business classes, has announced the appointment of two new Presidents. Taking over this position will be Sim Bridges, who will also retain his role as Chief Underwriting Officer alongside this new role. Bridges ... Read the full article
AM Specialty Insurance appoints Peter B. Smith as a non-executive director
6th July 2023
AM Specialty Insurance Company (ASIC), an Excess and Surplus (E&S) insurance firm and an accredited reinsurer, has appointed Peter B. Smith as a non-executive director. Smith has over three decades of experience in the insurance sector, having held executive leadership roles at insurance organisations in both the U.S. and internationally. Most recently, ... Read the full article
Tech-savvy insurance carriers set to outperform competitors: Socotra survey
3rd July 2023
In a recent survey conducted by Socotra, a leading core platform provider for modern insurers, it has been found that insurance carriers who invest in technology to enhance the customer service experience for brokers and agents are poised to outperform their less tech-savvy competitors. The survey, titled "Becoming the Preferred Provider: ... Read the full article
Tesla Insurance forcing competitive rates from peers, says Musk
27th January 2023
Tesla CEO Elon Musk has said that his company’s insurance offering has already made a significant impression on the market, with other large car insurers having been forced to offer better rates for Tesla vehicles. Speaking during a Tesla Q4 earnings call, Musk also spoke to the “unreasonably high” repair costs ... Read the full article
Technology has outpaced the insurance markets appetite: Verisk’s Tim Rayner
26th September 2022
2022 is set to be a landmark year of change in the London market, with the evolution of cloud computing, distributed computing via APIs, and data augmentation all starting to culminate in opportunities for the market to be more efficient as it starts to move from analogue to digital. This is ... Read the full article
AXA XL Reinsurance appoints Peter Kiernan and Simon Penney to new roles
7th July 2022
AXA XL Reinsurance has appointed Peter Kiernan to be its new head of US property for Bermuda reinsurance. Kiernan assumed his role on 1 July and is based in Bermuda. He replaces Simon Penney, who is relocating to London to take up a new global role as head of underwriting analytics ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Reinsurance leaders show greater risk appetite since pandemic: Aon
1st October 2021
New research from Aon shows an increased appetite for calculated risks within the leadership of the re/insurance industry, with nearly 90% of executives expecting business conditions to be stronger a year from now. More than 18 months since the global outbreak of the COVID-19 pandemic, Aon surveyed 800 C-suite leaders and ... Read the full article
Stephen Pett joins Aon Reinsurance Solutions in Bermuda as a VP & broker
14th September 2020
Insurance and reinsurance broker Aon has announced that Stephen Pett, formerly of Nephila Capital, is to joins its Reinsurance Solutions operation in Bermuda as a Vice President and broker. Pett is expected to join Aon in Bermuda on September 15th, 2020 and will have a focus on industry loss warranties (ILWs) ... Read the full article
Insurance competition not working well for all customers, finds FCA
4th October 2019
UK regulatory body the Financial Conduct Authority (FCA) has published a new report arguing that competition in the home and motor insurance markets is not working well for all consumers. The FCA estimates that around 6 million policyholders pay high prices and are not getting a good deal on their insurance. In ... Read the full article
Reinsurer appetite to support insurance sector growth in Bolivia: A.M. Best
2nd September 2019
An expectation of continued, healthy growth, robust solvency ratios and stable appetite from reinsurance companies has seen A.M. Best assign a stable market segment outlook to Bolivia's insurance industry. According to international financial services rating agency, A.M. Best, Bolivia's insurance industry grew by 11% in 2018, on the back of 3.4% ... Read the full article
JLT Re’s Pete Chandler joins BMS as President, US reinsurance
3rd May 2019
Specialist insurance and reinsurance broker BMS Group has announced the appointment of Pete Chandler from JLT Re as President of its US reinsurance operations, effective May 27th, 2019. In his new role, which subject to regulatory approval sees him join the BMS US Board, Chandler will report to Steve Korducki, US ... Read the full article
Competition in UAE market has intensified, says Orient Insurance
26th April 2019
Competition in the United Arab Emirates (UAE) re/insurance marketplace has “intensified and gained momentum in 2018,” according to Orient Insurance P.J.S.C. In the company’s annual results report, Orient’s Board of Directors pointed to a substantial drop in motor and medical rates across the market, as well as a “serious hit back” ... Read the full article