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