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The British Insurance Brokers Association (BIBA) CEO Steve White has warned the insurance industry to be wary of current turmoil affecting the sector. 10 May 2017
Insurance
Bermuda-based mortgage insurance provider Essent Group has announced that Adolfo Marzol has resigned from its board of directors. 10 May 2017
Insurance
Specialist insurer Tokio Marine Kiln (TMK) has teamed up with Managing General Agents’ Association (MGAA) to support the UK’s delegated underwriting network. 10 May 2017
Insurance
Lemonade, an artificial intelligence-focused insurtech company, has launched its homeowners and renters insurance offering in California. 10 May 2017
Insurance
French insurer AXA has said that it intends to list a minority stake of its US operations in the first half of 2018 to create “significant additional financial flexibility to accelerate AXA’s transformation.” 10 May 2017
Insurance
Commercial property/casualty (P/C) rates declined on average by 2.5 percent in the first quarter of 2017, compared to 3.3 percent in the fourth quarter of 2016, according to The Council of Insurance Agents & Brokers’ Commercial P/C Market Survey. 10 May 2017
Insurance
Hannover Re is showing more optimism for the property/casualty (P&C) business which has been particularly impacted by the current soft market after recording significant growth in the first quarter of 2017. 10 May 2017
News
Hannover Re’s profits slipped slightly in the first quarter but the reinsurer enjoyed strong growth driven by structured reinsurance demand for reinsurance solutions providing solvency relief and growing demand for cyber coverage. 10 May 2017
Insurance
UK insurer Aviva has announced the sale of its 50 percent shareholdings in life insurance and pension joint ventures Unicorp Vida and Caja España Vid, as well as its retail life insurance business Aviva Vida y Pensiones, to Santalucía. The total consideration of the transaction is €475 million. 10 May 2017
Insurance
Novae Group enjoyed substantial growth driven largely by US excess and surplus lines in the first quarter of 2017 despite exiting a number of casualty lines of business where it has deemed rates unsustainable. But it also warned that these would still hit its profitability this year. 10 May 2017
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