News – Page 142
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NewsHg invests in Hyperion in a transaction valued at $5 billion
Hg, a leading European investor in software and tech-enabled services businesses, today announces that it will make a significant long-term equity investment in Hyperion Insurance Group Limited (“Hyperion”), the international insurance intermediary. The transaction values the business at an enterprise value of around US$5 billion. In conjunction with an ...
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People & OpinionAllianz names Paul Evans as non-exec chairman
Evans will initially start in November as chairman elect, before taking over the role fully in April 2021
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NewsEC3 Brokers calls on government to become ‘insurer of last resort’ for live events
The broker has called on the government to become the insurer of last resort for the sports and entertainment industry and warns of the potential ’carnage’ on the UK’s economy if these venues cannot get the insurance they need to operate
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People & OpinionEverest Re appoints Mark Kociancic Group Chief Financial Officer and Jim Williamson Group Chief Operating Officer
Everest Re Group today announced the appointment of Mark Kociancic as Executive Vice President and Group Chief Financial Officer and Jim Williamson as Executive Vice President and Group Chief Operating Officer. Both will serve on the Everest Executive Leadership Committee and report directly to President and ...
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People & OpinionThird Point Reinsurance announces appointment of David Junius as COO
Third Point Re today announced that David Junius has been appointed Chief Operating Officer effective October 1, 2020. Upon the Company’s anticipated closing of its merger transaction (the “Merger”) with Sirius International Insurance Group Ltd. (“Sirius” or “Sirius Group”), Mr. Junius will be appointed Chief Financial Officer of the Company, ...
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People & OpinionGuy Carpenter announces the appointment of Paul Miller to lead Property Catastrophe value proposition for UK
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a business of Marsh & McLennan Companies (NYSE: MMC), today announced the appointment of Paul Miller to lead Guy Carpenter’s Property Catastrophe value proposition for UK, Global Specialties and key global clients, effective September 2021. Mr. Miller ...
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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
