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Insurance
Enstar (EU) has been appointed as run-off manager for Gable Insurance with effect from 16 December 2016. 21 December 2016
Insurance
S&P Global Ratings has placed Switzerland-based Allied World on CreditWatch with negative implications and AM Best has placed it under review with negative implications after the global specialty and property/casualty insurer agreed to a $4.9 billion acquisition by Canada’s Fairfax. 21 December 2016
Insurance
Change in the re/insurance industry is driven by moving customer expectations, shaped by their experience with other service providers such as Google or Airbnb, suggests Steve Hales, global head of connected insurance at Generali. He believes that the central role mobile phones have in people’s lives significantly affects how the re/insurance industry operates, and as with other services, clients want to be able to run their insurance portfolios from their mobile phones. 21 December 2016
Insurance
Some of the pressures the re/insurance sector faced in 2016—low interest rates, uncertainties around Brexit and a soft market—are likely to persist in 2017. But some additional drivers are set to affect the performance of the sector, as described by executives from major players such as Markel, Swiss Re and Willis Re. 21 December 2016
Insurance
Startups are developing interesting business models which are set to change the way people are buying insurance, says Yannis Korgialos, partner development manager at Munich Re Digital Partners. One growing trend is insurance on demand, particularly in motor and content insurance, he notes. 21 December 2016
Insurance
2016 has again been a benign year in terms of large catastrophe losses, but geopolitical developments have added new challenges to the sector. Intelligent Insurer asked executives from re/insurance firms including Swiss Re, Argo, AM Best and Willis Re for their opinions on the most important developments in the re/insurance industry in 2016. 21 December 2016
Insurance
As India opens its market to international reinsurers, the Insurance Regulatory and Development Authority of India (IRDAI) expects foreign reinsurers to secure final clearance to open branches soon and several to be operational within six to nine months. 20 December 2016
Insurance
Europe’s insurers paid out a total of €975 billion in claims and benefits over the course of 2015, the equivalent of €2.7 billion per day, according to Insurance Europe, the European insurance and reinsurance federation. 20 December 2016
Insurance
XL Catlin’s insurance operation in Iberia has enhanced its directors and officers (D&O) insurance solution for non-profit organizations (NPOs) and non-governmental organizations (NGOs). 20 December 2016
Insurance
Technology, digitisation and data represent the biggest challenges for the re/insurance industry, says Matt Cullen, assistant director and head of strategy at the Association of British Insurers (ABI). Processes in underwriting, claims or customer relations are set to undergo significant change through the application of innovative technology. 20 December 2016
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