Insurance news

• French insurance stocks rise on Macron hopes

  24-04-2017 22:11
  French insurance stocks closed higher today after former
  investment banker Emmanuel Macron emerged as the clear favourite to
  replace François Hollande in the Élysée Palace
  following the first round of a presidential election that concludes
  with a runoff in two weeks.
  AXA shares rose 6.53 percent to close at EUR25.03. The benchmark
  Eurostoxx 50 index climbed 3.9 percent to a 20-month high of
  3,574.
  CNP Assurances share added almost 3.5 percent to reach EUR18.85
  and Scor gaine
  
  Read more

• Ex-AssuredPartners vice chair made Acrisure president

  24-04-2017 22:11
  AssuredPartners former vice chairman Michael Sherman has been
  named president of rival broker Acrisure.
  Acrisure, bought out by management in a $2.9bn deal that closed
  last year, revealed Sherman had been handed the role in a statement
  today. Sherman joined the Caledonia, Michigan-based company as a
  strategic adviser in January.
  Sherman's new position was previously held by Acrisure CEO
  Greg Williams, who led the buyout from the broker's former
  owner Genstar Capital, which remains a shareholder.
  
  Read more

• Bermuda results point to improving health

  24-04-2017 22:11
  Figures from a group of Bermuda's biggest (re)insurers
  reveal the cluster's financial health improved last year, as
  the collective loss ratio declined and the combined ratio improved
  compared with a slightly different group's performance in
  2015.
  The data shows a 9.1 percentage point drop in the loss ratio to
  46.6 percent for the group of 21 companies along with a decline of
  90 basis points in the aggregate expense ratio to 32.7 percent,
  according to the Association of Bermuda Insurers...
  
  Read more

• AIR creates cyber aggregation tool

  24-04-2017 22:11
  AIR Worldwide has launched a cyber aggregation tool which can
  estimate potential insured cyber losses across a portfolio, it
  announced today.
  The Analytics of Risk from Cyber (ARC) application uses a
  proprietary database of industry exposures to measure and monitor
  cyber risk aggregation on standalone cyber policies, cyber
  endorsements and silent cyber exposures.
  AIR has combined data from multiple commercial and public
  sources to develop a comprehensive view of the insurable cyber
  market in the
  
  Read more

• Advertisement

• Marsh and Nephila bring alternative capital property offering to market

  24-04-2017 17:56
  
  Marsh and The Schinnerer Group have launched the first alternative capital-backed retail property-insurance vehicle for companies in the United States.
  
  Read more

• Towergate puts over 100 jobs at risk as finance restructure continues

  24-04-2017 17:43
  
  60-day consultation begins as Towergate puts over 100 jobs at risk
  
  Read more

• XL Catlin to participate in 30-month autonomous vehicle trial

  24-04-2017 17:00
  
  XL Catlin is involved in a project that will trial a fleet of autonomous vehicles between Oxford and London alongside a consortium of partners.
  
  Read more

• Standalone cyber market can take major cat loss: JLT Re

  24-04-2017 16:46
  The standalone cyber (re)insurance market is resilient enough to
  withstand a major cyber catastrophe and offer a sustainable
  long-term coverage proposition, JLT Re has claimed.
  In its cyber Viewpoint report, published today, JLT Re said it
  believed the growth of the cyber standalone segment was
  "crucial" if the market was to find a viable solution to
  cyber risk.
  Some participants have previously argued that the standalone
  market is not sustainable in the long term, as it is not in a...
  
  Read more

• Advertisement

• JLT Specialty rehires Nolan as SVP

  24-04-2017 16:46
  JLT Specialty USA has appointed former employee Molly Nolan as
  senior vice president with responsibility for broking and client
  development.
  Nolan has more than 20 years' experience providing insurance
  services for complex property accounts and has worked as both a US
  retailer and market-facing broker in Lloyd's as well as the
  London and European company markets.
  She re-joins JLT from Beecher Carlson, where she was senior
  managing director and northeast property practice leader. Before
  joining B
  
  Read more

• IDB has at least two bidders for Clal: report

  24-04-2017 16:46
  Israeli conglomerate IDB Development Corp reportedly has at least
  two suitors for subsidiary Clal Insurance.
  Speaking to Bloomberg yesterday, Eduardo Elsztain, the Argentine
  real estate developer who controls IDB, said he had at least two
  bidders for Clal that would consider buying the unit for more than
  its current market value.
  IDB owns 55 percent of Clal Insurance.
  Elsztain has been forced into a sale by a court ruling that
  ordered him to divest IDB's holding in Clal, due to...
  
  Read more

• Election leads to delay for London ILS regulations

  24-04-2017 16:46
  UK Prime Minster Theresa May's decision to call a snap
  election has caused the forthcoming London insurance-linked
  securities (ILS) regulations to be delayed.
  Officials had been close to releasing a final version of the
  proposed ILS regulations, with initial drafts having been reworked
  after a period of industry feedback and consultation.
  It is unclear whether the new government would be able to
  publish and consider the draft regulations before parliament breaks
  up for the summer recess on 20 Ju
  
  Read more

• Video: Stoke Regional Review Part 1

  24-04-2017 13:02
  Judith Ugwumadu meets with local brokers in Stoke-on-Trent to discuss the market.
  
  Read more

• Whiplash reform bill shelving is green light for personal injury 'gravy train'

  24-04-2017 12:11
  
  The AA has expressed disappointment that the Prisons and Courts Bill has been dropped in light of the June election.
  
  Read more

• Carole Nash buys Cornmarket’s motorcycle book in Ireland

  24-04-2017 11:46
  Latest deal adds 6,000 policies to broker.
  
  Read more

• Aviva's 'Ask It Never' concept to cut out question asking process

  24-04-2017 11:34
  
  Aviva has created a new prototype system that will use big data rather than rely on customers to fill out hundreds of questions when making an application.
  
  Read more

• Opinion: FCA aviation investigation

  24-04-2017 11:24
  I don't know the full details of the FCA investigation into the
  major aviation brokers that we revealed last week, and they are
  being guarded very closely.
  It is my strong understanding that breaches of client
  confidentiality are being looked at.
  But some of the wilder rumours in the market that price-fixing
  and bid-rigging are being investigated are difficult to credit
  until very strong supporting evidence is produced.
  They just feel wrong.
  On the suggestion that brokers had been colluding...
  
  Read more

• Neon hires Sirius D&F underwriter

  24-04-2017 11:24
  Lloyd's carrier Neon has recruited Catherine Sethi to its
  property direct and facultative (D&F) team as a senior
  underwriter based in London.
  She will report to Sam Yates, who joined to lead the
  company's D&F expansion in February this year.
  In Marchthis publication revealed Sethi had left her previous role at
  Sirius Syndicate 1945 alongside fellow former Montpelier Re
  underwriters Ian Haslam and Scott Goozee, less than two years after
  joining the company.
  In a statement to The Insurance
  
  Read more

• Hamilton Re buys Canopius Bermuda excess casualty book

  24-04-2017 11:24
  Hamilton Re has acquired the renewal rights to Sompo
  Canopius' Bermuda subsidiary's primary excess casualty
  book.
  The reinsurer said both Stephen Hartwig and Jeremy Wright will
  join Hamilton Re from Sompo Canopius as part of the transaction in
  the respective positions of chief underwriting officer for casualty
  insurance and senior vice president of casualty insurance.
  Hartwig will report to Hamilton Re CEO Kathleen Reardon.
  The transaction is expected to close by this middle of this
  year.
  Reardo
  
  Read more

• #Insagepeople: 24 - 30 April 2017

  24-04-2017 10:31
  
  Keep up to date with all the latest people moves.
  
  Read more

• Coversure promotes Bob Darling to group CEO as John Hooper takes on a chairman role

  24-04-2017 10:20
  
  Franchise confirms plans to open new office in Leeds along with further board level changes.
  
  Read more

• Digital Collective Blog: Getting the CFO on board

  24-04-2017 08:00
  
  Most corporate data is ultimately used to feed financial systems and drive C-level decisions, so having the chief financial officer as an ally or even as a sponsor for your insurance core system transformation seems like an obvious choice. Adam Lamkin, billing software product lead at Duck Creek Technologies, asks what what CFOs need from a new insurance core system?
  
  Read more

• Blog: Diary of an insurtech startup- episode 2: Silicon Valley

  24-04-2017 08:00
  
  James Stuart Clarke, head of sales and partnerships at Digital Fineprint, compares the start-up scenes of San Francisco and London in the second instalment of his behind-the-scenes look at insurtech disruption.
  
  Read more

• Blog: Diary of an insurtech start-up, episode 2: Silicon Valley

  24-04-2017 08:00
  
  James Stuart Clarke, head of sales and partnerships at Digital Fineprint, compares the start-up scenes of San Francisco and London in the second instalment of his behind-the-scenes look at insurtech disruption.
  
  Read more

• UK insurers fear election’s impact on payout reforms

  24-04-2017 06:04
  Higher compensation payments likely to continue as vote derails proposals
  
  Read more

Follow @Insurance_UKnws on Twitter!