Reinsurance News
AXA targets China’s travel insurance market using WeChat app
6th February 2019
AXA is targeting the lucrative travel insurance market in China with a new offering that is integrated directly into the WeChat mobile app. More than one billion users in China alone use WeChat to access instant messaging and manage e-commerce services, making it the most popular app in the country. AXA plans ... Read the full article
RSA appoints Scott Egan as CEO for UK & International
6th February 2019
Multinational insurance group RSA has announced the appointment of Scott Egan as Chief Executive Officer (CEO) of its UK & International division, effective 5 February 2019. He replaces outgoing CEO Steve Lewis, who will step down from this role and leave RSA, the company explained. Egan has served as Chief Financial Officer ... Read the full article
LIIBA sets sights on a truly digitalised market
6th February 2019
The London and International Insurance Brokers' Association (LIIBA) recently announced its agenda for 2019, titled Domestic Efficiency and International Growth, and which follows a number of tangible successes from the 2018 agenda. LIIBA states that from its 2018 agenda, one of the tangible successes is with PPL and the fact more ... Read the full article
Munich Re profits fall, reports stable pricing at 1/1
6th February 2019
Global reinsurance giant Munich Re saw fourth quarter profits fall 56% year-on-year to €238 million following the impact of the California wildfires in November and volatile financial markets towards the end of year. The company’s net profit of €2.2 billion for the year was, however, in line with its target of ... Read the full article
Pen Underwriting partners with Davies Group on escape of water claims
6th February 2019
UK underwriting agency Pen Underwriting has partnered with Davies Group, a management, consulting and digital solutions provider, to overhaul its process for dealing with escape of water claims. By working with Davies, Pen Underwriting expects to save 10% on its indemnity spend and reduce the time taken to settle escape of ... Read the full article
ChainThat adds Rebecca Oliver as Business Development Director
6th February 2019
Specialist blockchain solutions firm ChainThat has announced the appointment of Rebecca Oliver as Business Development Director, a newly-created role. She brings over 25 years’ experience in the Lloyd’s of London, London and Global re/insurance markets and joins from Eurobase, where she served as Director of Insurance. Prior to that, Oliver held senior ... Read the full article
Japanese insurers to pursue M&A deals in China as regulations change
5th February 2019
Japanese insurance companies are preparing to follow up on recent regulatory changes in China’s financial sector by pursuing a spree of new mergers and acquisitions (M&A) deals in the country, according to sources at Reuters. With $53 billion spent on M&A deals since 2014, Japanese insurers are currently one of the ... Read the full article
ProAssurance “deeply disappointed” with performance of Lloyd’s investment
5th February 2019
Specialty insurer ProAssurance Corporation is to review its strategic options regarding its Lloyd's of London investment, following a disappointing performance by its Lloyd's Syndicates segment in the fourth-quarter of 2018. During its third-quarter 2018 conference call ProAssurance forecast losses of roughly $3.2 million within its Lloyd's Syndicates segment. However, after receiving ... Read the full article
Cape Analytics’ property intelligence solution expands to include commercial risks
5th February 2019
Provider of insurance and reinsurance data analytics, Cape Analytics, has announced the expansion of its property intelligence solution to commercial habitational properties, to include multi-family homes, condos, and home owner associations (HOAs). The expansion builds on its database of more than 70 million single-family homes in the U.S., and is the ... Read the full article
CCR appoints Hind Mechbal as Chief Information Officer
5th February 2019
CCR Group, the state-backed French re/insurer, has announced the appointment of Hind Mechbal as Chief Information Officer. Mechbal joins CCR from Allianz Group, where she has served as Head of Information Systems and Organization since 2013, based in Casablanca Morocco. In her new role, she will be tasked with managing the ongoing ... Read the full article
Hiscox leads $58mn funding for insurtech platform CoverHound
5th February 2019
Global specialist insurer Hiscox has led a $58 million Series D funding round for CoverHound, a property and casualty (P&C) insurance platform for digital distribution. Additional investors included insurance providers Chubb, Aflac Ventures and MS&AD, who CoverHound entered a strategic alliance with earlier this month. CoverHound worked with Allen & Company ... Read the full article
Further rate strengthening expected in U.S. commercial auto sector: JLT Re
5th February 2019
JLT Re (North America), a division of the reinsurance arm of global brokerage JLT Group, is anticipating further rate strengthening in the U.S. commercial auto sector in 2019 and through 2020. The broker recently published its Commercial Auto Market Briefing, a new report which analyses both accident frequency and severity, corrective ... Read the full article
The Hartford reveals new operating model for Navigators businesses
5th February 2019
Property and casualty insurer The Hartford has announced a new operating model and organisational structure for its specialty commercial and middle market businesses following the completion of its pending acquisition of The Navigators Group. The new model will integrate Navigators’ operations, as well as The Hartford’s current Specialty Commercial and Middle ... Read the full article
PPL adoption exceeds targets at Q4 2018, reports Board
5th February 2019
The Board of Placing Platform Limited (PPL) has released new data for the fourth quarter of 2018 showing that adoption levels among both Lloyd’s syndicates and International Underwriting Association (IUW) companies exceeded targets. Syndicates accepted an average of 39% of in scope risks through electronic placement in Q4, while IUW companies ... Read the full article
Aon partners with insurtech firm to streamline claims process
5th February 2019
Global insurance and reinsurance broker Aon has entered into a new strategic alliance with insurtech firm Claim Central to digitize and streamline its claim management capabilities. The collaboration aims to enhance the customer experience using technology and services developed specifically for property and casualty (P&C) insurance companies. Claim Central will also open ... Read the full article
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