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Munich Re takes stake in German Research Centre for AI

1st February 2019

Global reinsurance giant Munich Re has become a shareholder in the German Research Centre for Artificial Intelligence (DFKI), a leading European institute for the research of robotics, smart factories and immersive quantified learning. The partnership hopes to create new impulses in the fields of artificial intelligence and data analytics, and will ... Read the full article

Munich Re opens new Representative branch in Bangkok

31st January 2019

Global reinsurance giant Munich Re has announced the opening of a new representative office in Bangkok, Thailand, underlining its commitment to the region for the long-term. In line with the opening of its new office, Munich Re has named Lucien Heijstee as Chief Representative for Thailand. He joins the reinsurer from Thaivivat Insurance ... Read the full article

Broker Kingsbridge targets gig economy with acquisition of InsurTech Dinghy

29th January 2019

GlobalData has said that the acquisition of InsurTech start-up Dinghy by specialist insurance broker Kingsbridge, looks set to ignite innovation in the broker community. Dinghy offers freelancers based in the UK with various insurance products, including professional indemnity, public liability, cyber liability, and business equipment insurance for flexible working hours. Kingsbridge specialises ... Read the full article

AXA XL renews and expands partnership with Guidewire Software

29th January 2019

AXA XL has partnered with Guidewire Software, Inc. in order to have global access to the Silicon Valley-based company's Guidewire Cyence Risk Analytics (Cyence) modelling solution for cyber exposures. Cyence is designed to help quantify the financial impact of cyber risk exposures, and AXA XL's Cyber Insurance unit has utilised the ... Read the full article

Slight increase in reinsurance demand at 1/1, more focus on emerging risks: Aon

21st January 2019

Despite significant reductions in certain individual placements, the reinsurance industry saw a slight uptick in demand in the January renewals, according to Aon’s 2019 market outlook. Regulatory and rating agency requirements, catastrophe losses resulting from non-peak perils and territories, as well as an ongoing positive buying proposition for insurers were a ... Read the full article

Allianz (AGCS) opens new reinsurance branch in India

21st January 2019

Allianz Global Corporate & Specialty (AGCS), Allianz Group’s specialist carrier for corporate insurance business, has opened a new reinsurance branch in Mumbai, India to help it target growth in Asia Pacific. AGCS said that the branch would allow it to capitalise on opportunities in one of the fastest emerging re/insurance markets ... Read the full article

Hiscox Re and MS&AD invest in AkinovA’s electronic marketplace

16th January 2019

Hiscox Re and MS&AD have made investments in digital insurtech firm AkinovA to support the development of its electronic marketplace for the transfer and trading of re/insurance risk. AkinovA claimed that the investments would further accelerate its progress ahead of the marketplace’s launch. The company is currently building its marketplace in collaboration ... Read the full article

International discord hindering ability to tackle global risks: WEF

16th January 2019

Deteriorating international relations are hindering the world’s ability to foster collective action and tackle the most serious global risks, according to the World Economic Forum (WEF). The Forum’s Global Risks Report 2019 said that international cooperation looks set to worsen further over the coming year, with experts identifying rising geopolitical and ... Read the full article

MS&AD enhances digital capabilities with new partnerships

15th January 2019

MS&AD Insurance Group Holdings has enhanced its digital capabilities through two new strategic alliance agreements with U.S-based MGA CoverHound and German insurtech company ELEMENT. The company intends to use CoverHound’s expertise in the development and sales of digital insurance products to empower its own digital solutions, particularly in regard to the ... Read the full article

Increased demand for reinsurance to boost brokers’ revenues: KBW

14th January 2019

Following the reinsurance renewal reports published by Willis Re and JLT Re pointing to flat overall pricing at 1/1, analysts at Keefe, Bruyette & Woods (KBW) have stated that a growing overall demand should boost reinsurance brokers’ revenues. KBW points to Marsh & Mclennan Companies and Willis Towers Watson as ... Read the full article

Reinsurance rates increase by 1.1% at Jan renewals: Guy Carpenter

14th January 2019

Reinsurance brokerage Guy Carpenter has said that the limited movement of rates at the recent January 1, 2019 renewals has raised concerns about pricing adequacy, underwriting strategy and the amount of capital available in the market. The firm’s Global Rate on Line (RoL) Index, which measures the change in catastrophe premium ... Read the full article

Beazley adds financial lines underwriters to Barcelona team

11th January 2019

Specialist re/insurer Beazley has appointed Francisco Alcaide and Alexander van Nierop as financial lines underwriters at the company’s hub for continental Europe in Barcelona. Alcaide joins Beazley from Hiscox, where he has spent the previous eight years as a senior underwriter in the insurer’s professional risks team in Spain, with responsibility ... Read the full article

P&C capital growth may reflect favourable industry expectations: Guy Carpenter

11th January 2019

Despite subpar underwriting returns, the property and casualty industry increased its capital position by $81 billion between 2014 and 2017, a growth which broker Guy Carpenter believes may be a sign that management teams expect favourable conditions ahead and want capital ready to deploy into new endeavors to grow their businesses. In ... Read the full article

“Interesting” 1/1 market dynamics to continue into April: Aon

11th January 2019

Re/insurance broker Aon has said that the “interesting” market dynamics that affected reinsurance pricing at the recent 1 January renewals are likely to continue to influence rates throughout the coming year. The company’s ‘Reinsurance Market Outlook 2019’ report noted that reinsurance buyers continue to secure protection at accretive cost of capital ... Read the full article

Cat modellers can learn from tech industry: Simplitium’s Lay & Jones

10th January 2019

With recent developments driving the need for ever more efficiency in the re/insurance industry, catastrophe modellers could benefit from emulating the approach of the technology sector, according to Simplitium’s James Lay and Matthew Jones. Lay and Jones noted that cost reduction was a central theme for many re/insurers during 2018, as ... Read the full article