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Lloyd’s to launch technology Innovation Lab

15th February 2018

Lloyd's of London has announced that it will be launching an Innovation Lab later this year, as the market looks to develop advanced technology solutions to meet its rapidly changing needs. The Innovation Lab will allow Lloyd's to test new concepts, design advanced technology solutions to solve market issues and give ... Read the full article

Palomar Specialty expands Flex Choice earthquake cover to Mississippi & South Carolina

15th February 2018

Palomar Specialty Insurance has announced the expansion of its Flex Choice residential earthquake insurance product into Mississippi and South Carolina from its current offer in Arkansas, Illinois, Indiana, Kentucky, Missouri Tennessee and Utah. Flex Choice allows consumers to tailor make residential earthquake coverage to meet their specific needs. The bespoke earthquake cover offers homeowners ... Read the full article

MultiStrat completes another casualty linked security transaction

15th February 2018

MultiStrat has announced the completion of its latest casualty linked security (CLS) transaction that was backed by a $14 billion alternative asset manager, which will invest $28 million in a Bermuda domiciled segregated account to support re/insurance liabilities associated with $160 million of estimated written premiums. According to an announcement on ... Read the full article

AFL Insurance Brokers appoints Barry Rowland & Chris Cavani to property team

15th February 2018

Independent Lloyd’s broker AFL Insurance Brokers (AFL) is expanding its wholesale property team with the appointment of re/insurance professionals Barry Rowland and Chris Cavani. Rowland joins AFL as Director, Property & Casualty from a role with reinsurance broker JLT Re as a Facilities and Binder Partner. Cavani joins from Alston Gayler where ... Read the full article

Erica Davis joins JLT Re as Senior Vice President of U.S. Cyber & E&O unit

15th February 2018

Reinsurance broker JLT Re has named Erica Davis as Senior Vice President (SVP), set to lead the Cyber and E&O practice for JLT Re in North America. Davis joins JLT Re from Zurich, where she most recently acted as SVP and Head of Specialty E&O after serving in a number of ... Read the full article

Market has “turned a corner” but 2018 will still be challenging: Lancashire CEO

15th February 2018

The re/insurance market has "turned a corner" following the major catastrophe losses of 2017, but despite this the CEO of Lancashire Holdings expects 2018 will be another challenging year for the industry. Lancashire reported a negative year for 2017, with return on equity falling to -5.9% for the year. But the ... Read the full article

Chambers apointed director of innovation & corporate development at AEGIS London

15th February 2018

John Chambers, The AEGIS London director of underwriting, is set to take on the newly created role of director of innovation and corporate development. In his new role, Chambers will oversee development of AEGIS London’s OPAL platform, its online quote-and-bind system for coverholders and brokers and the expansion of AEGIS London’s ... Read the full article

Market conditions suggest continued re/insurer M&A interest in 2018: Fitch

14th February 2018

Fitch Ratings is anticipating continued interest in merger and acquisition (M&A) activity among insurers and reinsurers in 2018, driven by ongoing competition, the impacts of the U.S. tax reform, and the effects of catastrophe losses in 2017. Fitch said that AIG's announced $5.6 billion takeover of Validus could foreshadow further ... Read the full article

Hiscox appoints David McLaughlin to Chief Financial Officer for U.S.

14th February 2018

Hiscox has announced the appointment of David McLaughlin, who joins from Fiserv, to Chief Financial Officer (CFO) in the U.S. McLaughlin brings more than 20 years of operational and financial experience to the role, including having held a number of divisional CFO positions at Fiserv, and most recently covering their Digital ... Read the full article

Pool Re launches Vulnerability Self-Assessment Tool

14th February 2018

Pool Re has announced the launch of the Vulnerability Self-Assessment Tool (VSAT), a risk self-assessment tool that enables Pool Re member insurers to offer a 5% premium discount to insureds which implement risk mitigation measures. VSAT is available to all Pool Re member insurers for risks falling due on or after ... Read the full article

Kemper to acquire Infinity in $1.4 billion merger deal

14th February 2018

Kemper Corporation has entered into a merger agreement to acquire auto insurer Infinity Property and Casualty Corporation in a cash and stock transaction, valued at approximately $1.4 billion. The implied total consideration is about $1.3 billion, or $121.01 per Infinity share. Infinity is a provider of auto insurance focused on serving the ... Read the full article

Could SoftBank investment fund Swiss Re / XL deal? – KBW

14th February 2018

Following news that global reinsurer Swiss Re is in talks with SoftBank over a minority investment in the reinsurer, and rumours that XL Group is an M&A target for large re/insurers, analysts at Keefe, Bruyette & Woods (KBW) have questioned the potential for a deal between Swiss Re and XL ... Read the full article

Sustainability of current retakaful model to be tested: A.M. Best

14th February 2018

The retakaful market remains small and extremely challenging with companies struggling to compete with conventional reinsurers, putting the sustainability of the retakaful model in doubt, according to international ratings agency, A.M. Best. Retakaful is the Islamic alternative to reinsurance, and owing to greater interest for Islamic insurance (takaful), A.M. Best highlights ... Read the full article

Hub targets growth with launch of first eight industry specialty practices

14th February 2018

Global insurance brokerage, Hub International Limited (Hub), has launched its first eight industry specialty practices, based on industries that are positioned for growth and where the firm has solid expertise. As well as being based on industries that hold good growth potential and where Hub has expertise, the eight specialty practices ... Read the full article

Michael Abramson named Partner & Risk Transfer Specialist, Hymans Robertson

14th February 2018

Michael Abramson has joined Hymans Robertson from Prudential as a Partner and Risk Transfer Specialist, based in the firm's London office. Most recently he was Prudential's Director of Wholesale Transactions, and brings roughly 15 years of industry experience to his new role. While at Prudential he was responsible for the firm's ... Read the full article

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