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Europe’s insurers looking to modernise with help of service providers: ISG

18th December 2023

Outsourcing and technology providers are helping European insurance companies to modernise amid rising challenges, according to a recent Information Services Group (ISG) report. European insurers are facing macroeconomic conditions, new market risks and changing customer demands. As a result, they are seeking more agile, tech-savvy approaches to business, analysts state. They are ... Read the full article

Ryan Specialty forms international financial lines MGU

13th December 2023

Ryan Specialty, a service provider of specialty products and solutions for insurance brokers and carriers, has announced the formation of Ryan Financial Lines, its international financial lines managing general underwriter (MGU). Ryan Financial Lines is the result of the unification of the operations of EmergIn Risk, led by Jamie Bouloux; StartPoint ... Read the full article

DUAL Europe appoints Gwenaël Hervé to lead French subsidiary

13th December 2023

DUAL Europe has appointed Gwenaël Hervé as Chairman to establish and develop the company's business in France, which will initially offer Financial Lines, Professional Indemnity, Cyber, construction all risks and Title and M&A insurance solutions for medium-sized and large companies. France is one of Europe’s largest insurance markets, giving DUAL reach ... Read the full article

MSCI ESG recognises Generali as leader in sustainability

13th December 2023

MSCI, the index that measures companies' resilience to ESG risks, recognises Generali’s sustainability leadership as it confirms the Italian insurer’s "AAA" ESG rating. The MSCI analysis, involving more than 8,500 companies, has once again assigned Generali the highest possible score, which the Group also received in 2022. MSCI's assessment highlights the insurer’s ... Read the full article

U.S. commercial insurance prices rise 6.1% in Q3’23, double-digit surges in key sectors: WTW

11th December 2023

Global insurance brokerage WTW revealed that U.S. commercial insurance prices have sustained a consistent upward trend throughout the third quarter of 2023. According to the Commercial Lines Insurance Pricing Survey (CLIPS) conducted by WTW's Insurance Consulting and Technology (ICT) business, commercial premiums demonstrated a steady increase of 6.1%. The quarterly survey compared ... Read the full article

NAIC members approve model bulletin on use of AI across the industry

8th December 2023

The National Association of Insurance Commissioners (NAIC) membership has voted to adopt the Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers during the 2023 Fall National Meeting. "This initiative represents a collaborative effort to set clear expectations for state Departments of Insurance regarding the utilization of AI by insurance companies, ... Read the full article

Crown Jewel Insurance adds three re/insurers for trade secret policy

7th December 2023

Crown Jewel Insurance, an insurtech and Lloyd's Coverholder, has secured three additional re/insurance organisations to support its breakthrough trade secret insurance policy known as Crown Jewel Protector. The re/insurers, Apollo Syndicate Management Limited, Tokio Marine Kiln Syndicates Ltd, and Greenlight Reinsurance Ltd., will each provide insurance capacity ... Read the full article

Pen Underwriting names Megan Jones Capacity Relationship Manager

7th December 2023

Pen Underwriting, an Arthur J. Gallagher & Co. subsidiary, has announced the appointment of Megan Jones as Capacity Relationship Manager. Jones will take over her new role from January 2, 2024. She will be responsible for the strategic and operational management of each capacity partnership underpinning Pen’s five key underwriting divisions, ... Read the full article

Amwins, Costero and Consilium among first brokers to adopt new market reform contract MRC v3

6th December 2023

Amwins, Aon, BMS Group, Gallagher, Howden, Consilium and Costero have started using the new market reform contract (MRC v3) marking the first step to the full adoption of Blueprint Two. The two-year program builds on the foundations laid by Blueprint One in September 2019 and focuses on shifting the market ... Read the full article

Insurers remain cautious about adopting AI for customer-facing activities: EY

6th December 2023

It should not come as a surprise that insurers are remaining somewhat cautious about adopting AI for customer-facing activities, especially given the lack of regulatory clarity. However, the opportunities to use AI technology to differentiate the value proposition and enrich customer experiences cannot be overlooked, according to EY. The company states that ... Read the full article

Argenta and Helios partner to provide investors unique access to Lloyd’s market

5th December 2023

FCA-regulated adviser to Lloyd’s investors, Argenta Private Capital Limited (APCL), has partnered with Helios Underwriting to provide investors with a "unique way to access the Lloyd’s of London market." APCL explained that this exclusive arrangement with Helios will enable its clients to participate in a portfolio of syndicates, curated by Helios’ ... Read the full article

CFC names Louise O’Shea CEO, as founders depart after misconduct investigation

30th November 2023

CFC, the global specialist cyber insurance provider, has appointed Louise O’Shea as its new Chief Executive Officer, subject to FCA approval. The news follows the completion of an investigation by Lloyd’s into allegations of non-financial misconduct at the company, concluding with the leaving of David Walsh (Group CEO) in January 2024. Graeme ... Read the full article

Coalition adds Allianz CEO Bäte to Board

28th November 2023

Active Insurance provider, Coalition, has appointed Oliver Bäte, the Chief Executive Officer (CEO) of global insurer Allianz SE, to its Board of Directors. Joshua Motta, Coalition’s Chief Executive Officer and Co-founder, commented on the addition: "We’re thrilled to have Oliver join Coalition’s Board as it’s a testament to his commitment to ... Read the full article

MAPFRE’s Huertas calls to legislate on the ethical risk of AI

28th November 2023

Speaking at the Geneva Association Summit 50, MAPFRE’s Chairman and CEO, Antonio Huertas explained that the industry "must legislate on the ethical risk of AI", emphasizing that this must be done judiciously. He explained that "on a global stage, Europe has to strike the balance between necessary regulation and stifling competitive ... Read the full article

Insurance more relevant than ever but insurability increasingly challenged: Ariss, GA

28th November 2023

Speaking recently at the Geneva Association's 50th Summit in Zurich, Switzerland, Jad Ariss, Managing Director, explained in his opening remarks that although insurance has grown in relevance, insurability is being increasingly challenged as the risk landscape evolves. "One could argue, valuably, that insurance is more relevant than ever. Insurance protects people ... Read the full article