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AIR Worldwide enters casualty modelling as parent acquires Arium

North America23-01-2017Casualty, Insurance news, Reinsurance news, Specialty

Verisk Analytics, a data analytics provider that also owns AIR Worldwide, has acquired specialist risk modelling company Arium.

TMK launches drone insurance online

UK23-01-2017Insurance news

Tokio Marine Kiln (TMK) has added Unmanned Aerial Systems (UAS) insurance to its One TMK digital exchange platform that allows brokers to quote and bind UAS policies online in real time.

2017 represents a journey towards self-disruption for insurers

Global23-01-2017Insurance news

Rapidly changing customers’ expectations combined with regulatory pressures and the introduction of new technological innovations all signal that 2017 will be a year where insurers must re-evaluate how they do business, according to Onno Bloemers, insurance partner at consultancy Delta Capita.

XL Catlin to open India reinsurance branch before April

Asia-Pacific23-01-2017Reinsurance news

XL Catlin is set to open an onshore reinsurance branch office in India having received the final approval from the Insurance Regulatory Development Authority of India (IRDAI).

Swiss Re to open India branch in February; names CEO

Asia-Pacific, Europe23-01-2017Reinsurance news

Swiss Re has confirmed that it has received the final approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a reinsurance branch in Mumbai.

CreditSights analysts weigh up AIG’s $9.8bn reinsurance deal with Berkshire Hathaway

North America23-01-2017Casualty, Reinsurance news

American International Group’s (AIG) $9.8 billion reinsurance deal with Berkshire Hathaway covering US commercial long-tail exposures for accident years 2015 and prior comes at a “significant” cost for AIG but should offer improved earnings stability, according to analysts at CreditSights.

Berkshire Hathaway may net a $2.6bn gain plus float from AIG deal

North America23-01-2017Casualty, Reinsurance news

If ultimate losses remain unchanged, Berkshire Hathaway will net a gain of around $2.6 billion plus the float in its $9.8 billion US casualty reinsurance agreement with American International Group (AIG), analysts at CreditSights writing in a January 20 note.

UK insurers see competition a bigger threat than Brexit in 2017, survey reveals

Europe, UK23-01-2017Insurance news, Reinsurance news

Competition is cited as the biggest challenge to business by general and life insurers in the UK, according to a CBI-PwC financial services survey.

Enstar unit StarStone partners with Malakite Underwriting on MENA growth

MENA23-01-2017Insurance news, Specialty

StarStone, the specialty insurer and subsidiary of Enstar Group, has entered into a joint venture partnership with Malakite Underwriting Partners, a managing general agent (MGA), in Dubai, and hired a former Swiss Re executive as it targets growth in MENA.

KLA rebrands to operate under Charles Taylor

UK23-01-2017Insurance news

Knowles Loss Adjusters (KLA), the UK and Ireland property/casualty claims business of Charles Taylor Adjusting (CTA), has been rebranded to Charles Taylor General Adjusting Service.

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