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Usage-based insurance gains funding amid pandemic: GlobalData

7th July 2020

Usage-based insurance (UBI) continues to attract funding despite the fall in insurtech investment due to COVID-19, according to data and analytics company GlobalData. A recent survey by GlobalData found that 9.7% of drivers in the UK currently have a UBI policy, but analysts expect this figure to increase as a result ... Read the full article

UPC Insurance names CFO Martz as President; Dittman as CRO

7th July 2020

United Insurance Holdings Corp. (UPC Insurance), a property and casualty insurance holding company, has revealed that its Board of Directors has appointed the firm's Chief Financial Officer (CFO), B. Bradford Martz, to also serve as its President. In this expanded role, Martz will continue to report to UPC Insurance's Chief Executive ... Read the full article

Chubb reports Q2 cat losses of $1.8bn; COVID-19 hit of $1.37bn

7th July 2020

Global insurer and reinsurer Chubb has announced that the impacts of the COVID-19 pandemic, combined with severe weather-related events and civil unrest in the U.S., has resulted in global net catastrophe losses of $1.807 billion (pre-tax) for the second-quarter of 2020. Chubb reveals that its Q2 catastrophe loss estimates include COVID-19 ... Read the full article

JC Partners could challenge Korean Re with KDB Life takeover: reports

7th July 2020

Following reports that JC Partners has been selected as the preferred bidder for a takeover of KDB Life in Korea, there has been speculation that the private equity firm could challenge Korean Re’s dominant market share. According to the The Korea Times, its possible that JC Partners could seek to change ... Read the full article

COVID-19 a threat to insurers positive momentum: OECD

6th July 2020

Analysis by the Organisation for Economic Co-operation and Development (OECD) warns that positive premium and investment income growth in 2019 for the majority of insurers might not be maintained in 2020 as a result of the ongoing COVID-19 pandemic. For the majority of countries, gross written premiums increased in 2019, most ... Read the full article

Canopius launches property product to address ‘silent cyber’ gap

6th July 2020

Global specialty re/insurer Canopius has announced the launch of a set of cyber property products for medium to large corporations across all sectors. The Canopius Cyber Property Damage Product Range (PDPR) will be sold on a consultative basis and in close collaboration with brokers. As well as replacing cyber cover excluded from property ... Read the full article

Oneglobal adds Vanessa Macdonald-Smith to lead D&F build out

6th July 2020

Oneglobal Broking has appointed Vanessa Macdonald-Smith to lead its Direct and Facultative business as Executive Director. Macdonald-Smith will also join the Group Executive Committee and reports to Mike Reynolds, Oneglobal’s Chief Executive Officer. She has more than thirty years’ international experience and was most recently CEO of JLT Facultative. Her previous roles have included ... Read the full article

TigerRisk adds Aon’s Joe Jackson to North American team

6th July 2020

Re/insurance broker TigerRisk Partners has announced the appointment of Joe Jackson to its North American team. Jackson joins from Aon after 14 years' service and most recently was Managing Director of Reinsurance Solutions. He will join Kevin Abramson’s team and be based at TigerRisk’s New York office. TigerRisk recently entered a partnership with Flexpoint ... Read the full article

Industry leaders call for investment in climate resilience

6th July 2020

A panel of industry leaders at a Coalition for Climate Resilient Investment (CCRI) event have called for a systemic shift in the way projects are financed to build resilience to climate change. With $90 trillion in infrastructure investment needed globally over the next decade to achieve global growth expectations, speakers argued ... Read the full article

Nassau acquires Foresters Life Insurance and Annuity Company

6th July 2020

Nassau Financial Group, an insurance and financial services firm based in Hartford, CT, has completed the acquisition of Foresters Life Insurance and Annuity Company (FLIAC) from The Independent Order of Foresters. Nassau offers a range of insurance and fixed annuity solutions, as well as reinsurance, insurance distribution, and asset management capabilities ... Read the full article

Argo updates leadership roles, as CFO departs

6th July 2020

Specialty re/insurer Argo has announced an update to its senior leadership team responsibilities, as well as the departure of its Chief Financial Officer Jay Bullock. The update comes at a tumultuous time for Argo, after it was dealt a $900,00 fine by the Securities and Exchange Commission (SEC) last month. The ... Read the full article

DXC business targeted in ransomware attack

6th July 2020

IT services provider DXC Technology has confirmed that its subsidiary, Xchanging, has been targeted in a recent ransomware attack. Xchanging is an insurance managed services business based in London that operates on a standalone basis. DXC said it was confident that the incident is isolated to the Xchanging environment, and does not ... Read the full article

Mike Rice announces retirement from Ryan Specialty Group

6th July 2020

Mike Rice, Sr. has announced his intention to retire from Ryan Specialty Group, LLC (RSG) at the end of the year. Rice joined RSG in 2010 as Chairman and CEO of RSG Underwriting Managers, LLC (RSGUM) and will have completed eleven years of valuable service upon his retirement. Patrick G. Ryan, Founder, ... Read the full article

Amanda Blanc takes over from Maurice Tulloch as Aviva CEO

6th July 2020

Global insurer Aviva plc has announced the appointment of Amanda Blanc as its new Chief Executive Officer (CEO), effective immediately, as Maurice Tulloch steps down from the role and his position on the company's Board for family health reasons. Currently, Blanc serves as an Independent Non-Executive Director at Aviva having Read the full article

Lloyd’s Lab adds three start-ups to COVID-19 program

6th July 2020

Insurance and reinsurance marketplace Lloyd’s of London has started working with three new insurtech start-ups to help the market respond to the COVID-19 pandemic. As part of a package of measures to respond to the crisis, Lloyd’s has expanded the scope for new applicants to the Lloyd’s Lab innovation accelerator. The ... Read the full article

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