News – Page 142
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NewsAXA XL Unveils Carbon Management Strategy
Strategy outlines commitment and roadmap to decarbonize AXA XL’s operations in line with goal to limit global warming to below 1.5 °C.
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NewsNexus Specialty adds to its existing Professional Liability product range with new Excess & Surplus offering
Leading independent specialty Managing General Agent Nexus Group (“Nexus”) today announces that it has further bolstered the Nexus US roster of A rated carriers allowing its specialist financial lines team to now underwrite on an Excess & Surplus basis in addition to its existing market-leading Admitted Miscellaneous Professional Liability product.Both ...
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NewsGIC & MassMutual to acquire Blackstone’s shareholding in Rothesay Life
Addy Loudiadis, Chief Executive Officer of Rothesay Life, said: “I am delighted that GIC and MassMutual will be substantially increasing their investment in Rothesay. This is a strong expression of confidence in the company and provides the business with exceptional long-term support from two of the world’s leading institutional investors.
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NewsLloyd’s has launched a new “first-of-its-kind” business interruption policy for SMEs
Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies today use. Instead, the new solution uses a parametric trigger, meaning that the policy automatically pays out if a customer’s critical IT services – such as cloud, e-commerce or payment systems – are ...
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People & OpinionBerkshire Hathaway Specialty Insurance Expands Mining Underwriting Capabilities to UK
Berkshire Hathaway Specialty Insurance (BHSI) today announced that it is expanding its global mining underwriting capabilities to the UK, and named Matthew Gooda as Senior Underwriter, Property, and Alun Morris as Risk Control Consultant, focused on the sector. “We are pleased to expand our global team and expertise with the ...
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NewsSingapore underwriters tackle intangible risks
Marsh has seen a 30% increase in the take up of cyber insurance across Asia annually
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NewsClimate Week: CCRI warns of ‘cascading’ risk
COVID-19 should not be allowed to derail progress made in driving greater climate resilience
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NewsAfrica Speciality Risk Group opens up in London
A new reinsurance company targeting the African market has been launched in London, with backing from private investment firm Helios Investment Partners. The Africa Speciality Risk Group (ASR) has been set up by Mikir Shah, previously CEO of AXA Africa Specialty Risks, and Bryan Howett, who formerly served as CEO ...
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NewsAfrican Risk Capacity Partners with Insuretech Pula
The African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of African Risk Capacity Group (ARC Group), has announced a partnership agreement with Pula to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks. Every farming season, African farmers are exposed to a wide range of ...
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NewsAmerican Financial Group, Inc. Announces Agreement to Sell Run-off Lloyd’s-based Insurer, Neon
American Financial Group today announced that it has reached a definitive agreement to sell GAI Holding Bermuda and its subsidiaries, comprising the legal entities that own its Lloyd’s of London insurer, Neon, to RiverStone Holdings. Upon closing of the sale, AFG expects release of all of its funds at Lloyd’s ...
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NewsReuters: UK watchdog sets Wednesday deadline for agreement on business insurance claims
Britain’s Financial Conduct Authority said on Tuesday it has filed for an expedited appeal in its business interruption test case as a precaution against insurers not agreeing by Wednesday to pay out on claims made during the pandemic. Hundreds of thousands of mainly small British businesses are waiting to hear ...
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NewsNew Zealand introduces climate risk disclosure regime
New rules will require firms to disclose how climate change will affect their business on a ‘comply or explain’ basis
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NewsIndonesian flood model launches with Willis Re
Model provides a detailed assessment of the flood risk countrywide, including the industrial estates in flood-prone West Java
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NewsArdonagh EBITDA up 30% as specialty business drives growth
Chief executive David Ross said the result was testament to the broker’s resilience in the face of Covid-19, aided by the group’s diversified portfolio
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People & OpinionStarr Insurance Companies Appoints Andy Trundle as Head of Global Aviation
Starr Insurance Companies today announced the appointment of Andy Trundle as head of global aviation. Mr. Trundle is responsible for shaping the strategies to drive profitable growth for the division across all aspects of Starr’s aviation portfolio, including airlines, general aviation, light aviation and aerospace.
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NewsNCOIL launches special committee on race in underwriting
The National Council of Insurance Legislators (NCOIL) has announced the creation of the NCOIL Special Committee on Race in Insurance Underwriting. The committee will be chaired by New York Sen. Neil Breslin, former president of NCOIL. “After careful deliberations with my fellow officers, we all determined that NCOIL needs to ...
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People & OpinionIUA announces new chairman
Patrick Tiernan, Managing Director UK Commercial Lines & Global Corporate & Specialty at Aviva, has been elected as the new Chairman of the International Underwriting Association. He takes over from Malcolm Newman, Managing Director of the SCOR EMEA Hub. In addition, the association has announced two new Deputy Chairmen: Rob ...
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NewsReuters: Aviva in talks for piecemeal sale of Italy business: sources
Aviva is weighing a piecemeal sale of its Italian business which consists of two joint venture agreements focused on life insurance as well as general insurance policies handled by a network of agents, sources familiar with the matter said. The British insurer, which is also working on the possible sale ...
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NewsBupa Global launches new Executive Wellbeing Index
Today Bupa Global has launched its Executive Wellbeing Index, the first report of its kind to look at the impact of the coronavirus pandemic on global business leaders and wealth creators who will shape the post-COVID world. The new research, commissioned among almost 2,000 high net worth individuals (HNWIs) and ...
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NewsChina to tighten supervision of country's online insurance business
China’s banking and insurance regulator issued draft rules on Monday to rein in risks accumulated in country’s booming online insurance sector. The rules, on which the regulator is seeking public feedback till Oct. 28, will ban unlicensed institutions and individuals from participating the online insurance businesses, including selling and offering ...
