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AkinovA adds co-founder of Securis to Advisory Board
16th April 2019
AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Rob Procter to its Advisory Board. Procter is a co-founder of Securis Investment Partners, an independent insurance-linked securities (ILS) manager, and has served as CEO and Chief Investment Officer at the company. Prior to Securis, ... Read the full article
Arch Insurance expands UK Regional Division with Obelisk acquisition
15th April 2019
Arch Insurance (UK) Limited, a division of Arch Insurance International, has completed its takeover of specialist underwriting agency, Obelisk Underwriting. Obelisk Underwriting produced around £5 million of gross written premium (GWP) in 2018, and will form part of Arch UK Regional Division, which is focused on commercial property, casualty, motor, professional ... Read the full article
Law firm HFW bolsters Middle East insurance offering with new Partner
11th April 2019
HFW, an international sector-based law firm, has launched an insurance offering in Abu Dhabi with the hire of Justin Whelan as Partner. This partner appointment is the firm’s fifth to be added since 2018. Whelan’s arrival means HFW now has specialist insurance teams in each of its four Middle East offices. He ... Read the full article
AkinovA adds MS&AD’s Takeshi Doi to Advisory Board
11th April 2019
AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Takeshi Doi to its Advisory Board. Doi is currently Chief of Cyber Risk Section at MS&AD InterRisk Research & Consulting as well as Deputy General Manager of the Group’s Innovation Section. His focus will be ... Read the full article
Aurous Risk Partners secures first Lloyd’s binder
5th April 2019
Aurous Risk Partners , a London-headquartered managing general agency (MGA), has secured its first Lloyd’s energy binder, led by Arcus Syndicate 1856. Through this arrangement Aurous Risk Partners will be able to offer clients capacity within the European Economic Area (EEA) on behalf of Lloyd’s Brussels security and Arcus Syndicate 5330. Aurous ... Read the full article
Downstream energy sector sees first major capacity decrease since 2001: WTW
5th April 2019
The downstream energy sector experienced its first significant decrease in underwriting capacity since 2001, according to a new energy market report by broker Willis Towers Watson. Downstream capacity fell from $6.8 billion to $6.2 billion in the first major market turn since the aftermath of 9/11, WTW analysts said. They attributed the ... Read the full article
Beazley adds two new products to e-trading platform
4th April 2019
Specialty re/insurer Beazley has added two of its product lines to the broker e-trading platform myBeazley to meet the needs of UK domiciled private business with a turnover of up to £350 million. UK brokers can now access Beazley’s comprehensive service-led cyber product, Beazley Breach Response (BBR), as well as management ... Read the full article
LockerGoga ransomware threatens industrial firms with “chaos,” say experts
3rd April 2019
LockerGoga, the strain of ransomware that is suspected to be behind the recent Norsk Hydro cyber attack, utilises an unusually disruptive hacking approach that can cause “chaos” for the industrial firms that it targets, according to cyber experts. Norsk Hydro, a Norway-based aluminium manufacturing, was forced to disable part of ... Read the full article
MGA EPUL targets unorthodox property risks with launch of Solutions
3rd April 2019
European Property Underwriting Limited (EPUL), a commercial property managing general agent (MGA), has launched a new suite of covers designed specifically to address the challenges brokers face when looking to place cover for unorthodox property owner risks, called Solutions. The range of covers on offer through Solutions, specifically target risks with ... Read the full article
AXA XL promotes Jennifer Minors to SVP in Bermuda Professional Lines unit
3rd April 2019
AXA XL has announced the promotion of Jennifer Minors to Senior Vice President – Product Line Leader in its Bermuda Professional Lines Insurance business. She will now be responsible for managing directors and officers (D&O), professional liability, employment practices liability (EPL), wage & hour (W&H), transactional liability (TL) and cyber liability ... Read the full article
Guy Carpenter & JLT Re combo an opportunity to provide the best of service
2nd April 2019
The combination of Guy Carpenter (GC) and JLT Re provides the brokerage with an opportunity to offer the best of service to clients around the world, according to GC President and Chief Executive Officer (CEO), Peter Hearn and Ross Howard, Vice Chairman of GC. Marsh & McLennan Companies, Inc. (MMC) ... Read the full article
DAC Beachcroft names head of Global Insurance practice in London
2nd April 2019
International law firm DAC Beachcroft has announced the appointment of Liam O’Connell as head of its Global Insurance practice in London. He joins from Norton Rose Fulbright where he was most recently a partner and Head of the EMEA insurance claims team. O’Connell has previously acted for many global and London market ... Read the full article
Chubb Bermuda names Richard Porter SVP, Head of Financial Lines
27th March 2019
Currently General Counsel for Chubb Bermuda, Richard Porter has been appointed Senior Vice President (SVP), Head of Financial Lines at the firm, reporting to Judy Gonsalves, Vice President (VP) of Chubb Group and Division President, Chubb Bermuda. He brings more than twenty years of industry experience to the role, and will ... Read the full article
AXA-backed insurtech Sayata Labs launches with $6.5mn in funding
26th March 2019
Sayata Labs, a new insurtech start-up focused on cyber risk assessment for insurers and SMBs, has announced today that it has launched with $6.5 million in seed funding. The Tel Aviv-based company is already partnering with re/insurance broker AXA to enhance its cyber risk capabilities, while Israeli venture capital firm Elron ... Read the full article
Technology is Swiss Re’s solution to market challenges: Ojeisekhoba
25th March 2019
Swiss Re views the integration of new technologies as both a critical opportunity for growth and the solution to many of the challenging market conditions that have tested the re/insurance industry in recent years. This is according to Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re, who told Reinsurance News that ... Read the full article