Reinsurance News
Parsyl raises $15m, launches suite of tech-enabled cargo insurance products
16th April 2020
Approved Lloyd's coverholder and supply chain data platform, Parsyl, Inc., has announced that Parsyl Insurance has launched a suite of connected cargo insurance solutions for perishable goods, called ColdCover. The new suite of solutions will be powered by the firm's IoT data platform and includes an innovative, industry-first parametric spoilage product, ... Read the full article
COVID-19 impact on U.S. insurers’ Q1 underwriting to be limited, says S&P
16th April 2020
With global insurers and reinsurers soon to announce their first-quarter 2020 results, analysts at S&P Global Ratings expect the impacts of the COVID-19 pandemic to hit the earnings of U.S. life, health, and property/casualty (P/C) insurers. Overall, analysts expect that the investment performance of U.S. insurers will take more of a ... Read the full article
AXIS commits $1mn donation to support COVID-19 relief efforts
16th April 2020
Bermudian re/insurer AXIS Capital has announced a $1 million donation to support COVID-19 relief and community support efforts. The company will partner with non-profit organizations providing pandemic relief globally, as well as in communities in which AXIS operates. The donations are an extension of the AXIS Corporate Citizenship strategy, which focuses on ... Read the full article
R&Q to acquire ICI Insurance Company
16th April 2020
Non-life insurance, reinsurance legacy and run-off acquisition specialist Randall & Quilter Investment is set to acquire the entire issued share capital of ICI Insurance Company. ICIICL was incorporated in the Cayman Islands in 2003 and licensed as a Class B (i) Insurer. The residual liabilities of ICIICL comprise primarily of US Workers ... Read the full article
Prudential Financial to sell Korean life unit for $1.9bn
16th April 2020
US insurance and investment firm Prudential Financial has announced that it plans to sell its Korean life insurance business to financial services provider KB Financial Group (KB). Under the terms of its agreement, Prudential Financial will sell 100% of The Prudential Life Insurance Company of Korea for a cash consideration of ... Read the full article
Berkshire (BHSI) expands exec & professional lines in New Zealand
16th April 2020
The insurance arm of Warren Buffett's global insurance and reinsurance company, Berkshire Hathaway Specialty Insurance Company (BHSI), has expanded its Executive & Professional Lines offerings in New Zealand. Going forward, BHSI will introduce Management Liability and Association Liability Insurance policies in the country. “BHSI’s new Management Liability and Association Liability policies reflect ... Read the full article
Stonybrook Capital adds Gregory Morrison to board
15th April 2020
Stonybrook Capital & Risk Management has announced the appointment of Gregory Morrison to its board of directors. Morrison joins the board with over 35 years' experience in the insurance and reinsurance industry in various leadership and investment capacities. He served as CEO of a number of public and private insurance organizations including ... Read the full article
AXA Climate partners with VanderSat on parametric drought cover
15th April 2020
AXA Climate and dutch firm VanderSat have entered a strategic partnership to offer a satellite data-driven parametric cover against drought-related losses. The parametric insurance product features policies that will pay out based on high-precision microwave technology measuring soil moisture in individual field zones. Soil Moisture is a direct indicator of water available ... Read the full article
Cape Analytics expands partnership with Kin insurance
15th April 2020
Re/insurance data analytics provider Cape Analytics has expanded its partnership with Kin insurance. A home insurance technology company, Kin is using Cape Analytics’ geospatial property intelligence to inform its homeowner insurance offering. The integration of Cape Analytics’ data allows Kin to provide customers with policies tailored to individual property and coverage needs. Cape ... Read the full article
Great American promotes Ken Bearley to divisional executive VP
15th April 2020
Great American Insurance Group has announced the promotion of Kenneth R. Bearley to the role of Divisional Executive Vice President within its Bond Division. Ken joined Great American in 1994 as an underwriter in the Bond Division’s Pittsburgh office and transferred to the Cincinnati home office in 2009. He has served in ... Read the full article
Beazley launches Virtual Care insurance in Canada
15th April 2020
Specialist insurer Beazley has launched its Virtual Care insurance policy in Canada, providing protection against risks associated with technology-enabled healthcare and lifestyle management services. Beazley noted that the COVID-19 pandemic has sharply increased demand for telemedicine, and many providers are expanding or adding these services to meet demand and to protect ... Read the full article
Asta adds Karen Green to board
15th April 2020
Asta, a third-party managing agent at Lloyd’s, has announced the appointment of Karen Green to the board of Asta Managing Agency and the promotion of Neil Griffiths to Chief Risk Officer. Green will take up a position as an Independent Non-Executive Director and Chair of the Risk Committee. She is currently a ... Read the full article
Enstar CFO Guy Bowker to resign
15th April 2020
Legacy acquirer Enstar Group Limited has announced that its Chief Financial Officer (CFO) and principal accounting officer, Guy Bowker, has informed the company of his intention to resign. Enstar states that Bowker will remain with the firm for an extended period (expected to be until March 2021) in order to ensure ... Read the full article
MS Amlin Insurance SE makes series of key leadership appointments
15th April 2020
MS Amlin Insurance SE has announced a series of key appointments designed to bolster its leadership team. MS Amlin Insurance Societas Europaea (MS AISE) has appointed Ludovic Sénécaut as Chief Executive Officer and Rogier Peters as Chief Risk Officer. Ludovic replaces interim CEO Rudy Benmeridja, who will return to his role of ... Read the full article
Cowbell Cyber adds social engineering cover to cyber offering
15th April 2020
Cowbell Cyber, a startup leveraging Artificial Intelligence (AI)-powered cyber insurance for SMBs, has added social engineering protection to its Cowbell Prime 100 cyber insurance solution. According to Cowbell Cyber, a huge 98% of cyberattacks deploy social engineering methods, essentially exploiting human weaknesses and preying on naivety. The company's new social engineering product ... Read the full article
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