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RSG Underwriting Managers to combine MGU teams

7th November 2018

RSG Underwriting Managers, LLC (RSGUM), a subsidiary of Ryan Specialty Group (RSG), has announced that it plans to combine two of its Managing General Underwriter (MGU) teams, EmergIn Risk and ThinkRisk, under the EmergIn Risk brand. RSGUM said that uniting the teams will allow it to provide deeper underwriting expertise, broader ... Read the full article

Argo broker survey identifies most pressing re/insurance shortfalls

6th November 2018

A survey of brokers and the small and medium-sized businesses (SMEs) they serve, conducted by global specialty re/insurer Argo Group International Holdings, Ltd., has identified cybercrime, climate change, and talent retention as among the areas where re/insurance is most likely to fall behind. For example, Argo found that 71% of brokers ... Read the full article

Occam appoints new Board member and CFO

5th November 2018

Specialty Lloyd’s of London managing general agent (MGA) Occam Underwriting has announced the appointments of Daniel Carr to the Board of Directors of the Company and Mark Fisher as Chief Financial Officer (CFO). Carr has been with Occam since 2015 and will also continue in his role as Head of Innovation ... Read the full article

Hiscox premium growth continues, but expects it to slow as market still challenging

5th November 2018

Strong growth in premiums underwritten has continued at global specialist insurance and reinsurance firm Hiscox, but the firm expects this will slow down and moderate over the rest of the year as the market remains challenging. Hiscox reported its nine-month results this morning, citing an increase in gross written premiums 14.3% ... Read the full article

Bermuda’s role in the global reinsurance market more relevant than ever: KBRA

29th October 2018

A report from Kroll Bond Rating Agency (KBRA) highlights the ability of Bermuda over the years to re/invent to address insurance and reinsurance market challenges, underlining its significance to the global re/insurance market. Today, and despite an array of market headwinds, the island of Bermuda remains a seasoned provider of re/insurance ... Read the full article

Singapore-based MGA, Criterion Underwriting opens for business

29th October 2018

Criterion Underwriting Pte Ltd, a new independent managing general agent (MGA), has opened for business in Singapore. The new MGA was launched at the 15th Singapore International Reinsurance Conference, and will underwrite and manage and range of specialist insurance solutions on behalf of global insurance and reinsurance firms. The solutions that are ... Read the full article

London is “insurance sector equivalent of Silicon Valley”, says Aon’s Hennessy

26th October 2018

London’s insurance market has survived multiple challenges over the past 300 years and will not be derailed by issues such as brexit, according to Chief Executive Officer of Carrier Solutions at Aon, Karl Hennessy, who went on to describe London as the “insurance sector equivalent of Silicon Valley." Speaking at the ... Read the full article

Allianz (AGCS) expands alternative risk transfer line to Asia Pacific

26th October 2018

Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, is expanding its alternative risk transfer (ART) line of business to the Asia Pacific region. Richard Green has been appointed to lead the new unit as Regional Head of ART, Asia Pacific, with effect from 15 ... Read the full article

Aon reports 8% organic reinsurance revenue growth

26th October 2018

Insurance and reinsurance broking powerhouse Aon has reported 8% organic revenue growth for its reinsurance broking operations during the third-quarter of 2018. Aon's results show that total revenue was flat across the company at $2.3 billion, but that factors in a decrease of $117 million, or 6%, related to the FASB's ... Read the full article

Munich Re’s HSB identifies rise in business email scam losses

24th October 2018

A new survey by The Hartford Steam Boiler Inspection and Insurance Company (HSB), a subsidiary of reinsurance giant Munich Re, has identified a rise in losses related to fraudulent business emails in the U.S. HSB found that 58% of business executives polled by cyber insurance and services provider Zogby Analytics said ... Read the full article

Hannover Re expects modestly higher premiums and stable conditions in Germany

22nd October 2018

E+S Rück, a subsidiary of Hannover Re responsible for the group’s German business, continues to expect positive premium development in the country’s market for the upcoming round of treaty renewals as at 1 January 2019, albeit at a somewhat more muted pace than in the previous year. "Against the backdrop of ... Read the full article

Reinsurance products backed by alternative capital have become mainstream: WTW

22nd October 2018

End investors, Insurance Linked Securities (ILS) funds, and buyers – the three groups active in ILS – have mostly weathered last year’s substantial loss activity with a view that reinsurance products backed by alternative capital have become mainstream, according to a new survey by Willis Towers Watson. In fact, the 2017 ... Read the full article

London company market premium income surges by 16% to £26bn: IUA

17th October 2018

Premium income in the London company market jumped to £26.314 billion in 2017, a 16% increase from the previous year, according to a report by the International Underwriting Association (IUA). Gross written premium in London for 2017 was £18.331 billion, with an additional £7.984 billion identified as written in other locations, ... Read the full article

Allianz subsidiary in contingent BI agreement with Just Energy Group

16th October 2018

Interstate Fire & Casualty Company (IFCC), a subsidiary of Allianz Global Corporate & Specialty SE (AGCS), has entered into a multi-year contingent business interruption insurance agreement with Just Energy Group Inc. Just Energy Group, a consumer company that specialises in electricity and natural gas commodities, energy efficient solutions and renewable energy options, ... Read the full article

IFTRIP addresses emerging terror risks at 2nd annual conference

15th October 2018

The International Forum of Terrorism Risk Re/Insurance Pools (IFTRIP) has convened at a 2nd annual conference in Moscow to address a variety of emerging terror threats and risk mitigation strategies. The event, which followed a series of closed session meetings involving terrorism risk finance experts from across the world, brought together ... Read the full article