Insurance news

• Meet the techies: Tobias Taupitz

  19-03-2018 13:26
  Tobias Taupitz, CEO and co-founder of start-up bike insurer Laka, tells us how brokers can benefit from InsurTech.
  
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• XL introduces Brexit back-stop as it confirms Dublin move

  19-03-2018 13:20
  XL Catlin will proceed with plans to move its European and Asian
  insurance headquarters to Dublin from London in order to retain
  European Economic Area (EEA) passporting rights after the UK leaves
  the bloc.
  The company also said it had introduced a contract continuity
  clause to address the risk that contracts written by XL's
  London-based entities prior to Brexit may become impermissible,
  assuming passporting rights are lost.
  Confirmation of the Dublin move dispels a question mark over
  XL's Brexi
  
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• White set to be next Liiba chairman

  19-03-2018 13:20
  Marsh broker Roy White is set to become the next chairman of the
  London & International Insurance Brokers' Association
  (Liiba), the trade body's CEO has said.
  White will be elected chairman of Liiba at the group's
  annual general meeting on 21 March. He will replace Arthur J
  Gallagher executive Andrew Agnew.
  Agnew will step down from the organisation's board, along
  with David Ledger, the chairman of Aon Benfield UK and COO of Aon
  UK, who alsoretires from Aon this...
  
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• QBE in $255mn Hong Kong workers' comp disposal

  19-03-2018 13:20
  QBE has approached the legacy market as it seeks to shed its
  troubled Hong Kong workers' compensation book, which holds an
  estimated HK$2bn ($255mn) in reserves, The Insurance
  Insider has learned.
  Sources told this publication KPMG has been appointed to advise
  on the process.
  Legacy carriers which have previously shown interest in Asian
  run-off books include Enstar and Swiss Re. Meanwhile, QBE has
  worked with Armour for a number of its run-off disposals in the
  past.
  The Hong Kong workers&...
  
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• QBE ANZ chief Bhatia continues reshuffle

  19-03-2018 13:20
  QBE has merged its Australian and New Zealand technology and
  transformation teams into one business unit as new regional CEO
  Vivek Bhatia continues to reshape the operation.The move is the latest piece of internal re-engineering at the
  Australian and New Zealand business by Bhatia since he rejoined the
  company in January to replace Pat Regan, who is now group CEO.
  Last month Bhatia announcedseveral senior management changes and the creation of two new
  portfolios.In the latest change...
  
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• ICA declares catastrophe for Australian wildfires

  19-03-2018 13:20
  The Insurance Council of Australia (ICA) has declared a catastrophe
  event for bushfires that swept through rural parts of New South
  Wales and Victoria states over the weekend.
  The authorities believe the fires, which have so far burned
  through more than 14,000 hectares, were caused by lightning strikes
  on Saturday night.
  Eighteen homes and 42 sheds were destroyed in the worst fires of
  the season in the state of Victoria, according to reports from ABC
  News.
  In New South Wales,...
  
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• Trade credit insurer pay-outs at highest level since 2009

  19-03-2018 12:54
  ABI says company failures such as Monarch Airlines and Carillion have led to challenging trading conditions.
  
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• Insurance proves a honeypot for alternative asset managers

  19-03-2018 12:04
  Groups attracted to sector that offers access to permanent capital and private credit
  
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• XL Catlin adds Brexit continuity clause to policies

  19-03-2018 11:57
  Policies issued by XL Catlin’s London operations will include contract continuity clause to offset any fallout from the UK’s exit from the European Union.
  
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• Broker Network buys Knighthood Corporate Assurance Services

  19-03-2018 10:37
  West Sussex-based broker makes up Broker Network's fifth "regional powerhouse".
  
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• Talanx Q4 operating profit rises 7.4%

  19-03-2018 10:01
  Majority Hannover Re shareholder Talanx said operating profit
  rose 7.4 percent to EUR704mn ($864.9mn) in the fourth quarter as an
  improved underwriting result in P&C reinsurance offset a
  deterioration in its industrial lines business.
  Group gross written premiums increased by 6.3 percent to
  EUR7.82bn, as Talanx's combined ratio for the quarter improved
  by 0.4 points to 92.7 percent.
  Large losses in the group's industrial lines business pushed
  the division to an underwriting loss of EUR29mn f
  
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• Opinion: Branching out

  19-03-2018 10:01
  Senior insurance executives convening for Insider US
  last week in New York forged a consensus on at least one thing.
  (Re)insurers now must be all things to all people.
  Ryan Specialty Group CEO Pat Ryan cast recent M&A as aquest for scope. He noted that deals including AIG's
  $5.56bn bid for Validus and Axa's $15.3bn takeover agreement
  for XL gave the buyers multiple platforms.
  TigerRisk president Tony Ursanopredicted that the insurer of the future will be big, offering...
  
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• GIC Syndicate 1947 cleared for April start

  19-03-2018 10:01
  Pembroke Managing Agency confirmed it has gained final approval
  from Lloyd's to establish and manage GIC Syndicate 1947 in time
  to begin underwriting from 1 April.
  Syndicate 1947 has a stamp capacity of £55mn ($76.8mn) for
  2018.
  As this publication previously reported,Neil Attwood has been appointed active underwriter of the
  start-up.Attwood will report to Chris Brown, strategic partnership
  director for Pembroke Managing Agency.
  Syndicate 1947 will underwrite property and agriculture and
  e
  
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• Arch chairman Iordanou passes CEO role to Grandisson

  19-03-2018 10:01
  Arch Capital has elevated president and COO Marc Grandisson into
  the CEO's role, replacing long-time CEO Dinos Iordanou, who
  remains chairman, the company said on Friday in a regulatory
  filing.
  Iordanou made known hischoice of Grandisson as his successor as CEO in August. The
  transition took effect on 3 March.Grandisson, who is 50 years old, retains the president's
  role and was named to the company's board of directors, Arch
  said.
  His succession to the top job was anticipated...
  
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• Blog: How to make your cyber offering stand out

  19-03-2018 07:00
  Cyber insurers can gain market share by differentiating their products. Benedict McKenna, vice-president and London operations claims manager at FM Global, explains how.
  
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• Cyber attacks: the risks of pricing digital cover

  19-03-2018 06:00
  With policies against online breaches to be worth $10bn by 2020, insurers rush to gain expertise
  
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