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Insurance
Powerful thunderstorms led to extensive damage across parts of the Central and Eastern United States from June 29 to July 4, causing economic and insured losses expected to well exceed $100 million, according to Aon’s Weekly Cat Report. 6 July 2018
Insurance
US private equity firms Highbridge Principal Strategies (HPS) and Madison Dearborn Partners (MDP), which have a major shareholding in brokerage group Ardonagh, have acquired UK-based fee protection insurance company PFP. 5 July 2018
Insurance
Rating agency AM Best has downgraded the financial strength ratings of AmTrust Financial Services’ insurance units to ‘A-’ from ‘A’. They were previously under review with negative implications. 4 July 2018
Insurance
Israel-based insurtech start-up Planck Re, an artificial intelligence (AI) driven commercial insurance data platform, has raised $12 million Series A in its first funding round. 4 July 2018
Insurance
Marsh & McLennan Agency (MMA), the middle market agency subsidiary of Marsh, has acquired Klein Agency, a St. Paul, Minnesota-based surety and property/casualty agency specialising in the construction industry. 4 July 2018
Insurance
California-based insurtech firm Trov has begun to roll out its on-demand insurance offering in the US a year after having received regulatory approval. 3 July 2018
Insurance
Billionaire investor David Einhorn told clients that his Greenlight Capital hedge fund, which manages the investments for reinsurer Greenlight Re, suffered fresh losses in June and has now dropped 18.3 percent this year, according to a Reuters report. 3 July 2018
Insurance
Marsh & McLennan Agency (MMA), a middle market agency subsidiary of Marsh, has acquired Rockville, Maryland-based Insurance Associates, an independent insurance agency specializing in the construction industry. 3 July 2018
Insurance
US personal lines insurer Allstate is expanding its partnership with Uber Technologies with a new commercial auto offering in the New York State. 2 July 2018
Insurance
Insurance broker Brown & Brown has acquired US-based Health Special Risk (HSR), a provider of third-party administration (TPA) and managing general underwriting (MGU) services for special risk and accident & health insurance. 2 July 2018
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