Articles

Insurance

Zurich’s head of claims wants the firm to work more closely with its reinsurers

Insurers would benefit from forming deeper relationships with their reinsurers, working increasingly collaboratively as opposed to having a largely transactional arrangement, according to Ian Thompson, the group chief claims officer of Zurich Insurance Group.   8 September 2019

Insurance

Market facing threats and opportunities, claims S&P

The global reinsurance market has seen prices rise in places despite a wide range of what S&P Global Ratings called “secular headwinds”. The rating agency also called for reinsurers to copy companies in other sectors in a bid to be relevant and become more innovative.   8 September 2019

Alternative Risk Transfer

Beazley’s Smart Tracker seeks $1 billion within five years

Specialist Lloyd’s re/insurer Beazley’s innovative Smart Tracker facility, which it launched in 2018, is targeted to write $1 billion of business within five years, Patrick Hartigan, head of reinsurance at Beazley, told Monte Carlo Today.   8 September 2019

Insurance

Marsh agrees buyout deal with JLT's Construction Risk Partners

Broker Marsh and Construction Risk Partners (CRP), a specialty broker dedicated to the US construction industry, have entered an agreement whereby CRP management will buy back the company’s stock from JLT Specialty USA.   6 September 2019

Alternative Risk Transfer

ILS market robust even as catastrophe bonds suffer losses: Aon

The market for Insurance-Linked Securities (ILS) is resilient in 2019 with continued support for new issuance, despite hurricanes and other events leading to a challenging market.   6 September 2019

Insurance

Moody’s flags up insurers facing Dorian impact in vulnerable US states

As Hurricane Dorian continues to threaten the southeast US coast, a credit ratings firm has identified the primary insurers that could be most affected.   6 September 2019

Insurance

Underwriting margins fall slightly for North American property/casualty insurers: Fitch

North American property and casualty (P&C) insurers have seen modestly weaker underwriting margins, Fitch Ratings has found.   6 September 2019

Insurance

KCC puts Bahamas’ losses from hurricane Dorian at $7 billion; Abaco and Grand Bahama worst hit

As hurricane Dorian, now downgraded to a category 3 from category 5, looms over the south east coast of the US, the National Hurricane Center has warned of a “life threatening storm surge, heavy rainfall and tornadoes” affecting the Carolinas.   5 September 2019

Insurance

Data theft from major email provider is most likely cyber catastrophe, finds Guy Carpenter and CyberCube Analytics

Data loss from a leading operating system provider could rack up insurance losses of more than $23 billion, according to a study of major cyber risks.   5 September 2019

Insurance

Technology firm Tremor raises $10m for reinsurance expansion; adds shareholder WR Berkley

Insurance technology firm Tremor has raised $10 million in new funding, with industry veteran WR Berkley joining existing backers, including venture capitalist Anthemis Group, the lead investor.   5 September 2019

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