Articles

Insurance

New legislation reduces no-deal Brexit risks: Fitch

Interim solutions and contingency planning with respect to insurance claims are reducing some significant risks a "no-deal" Brexit would present to the European insurance sector, Fitch Ratings says in a new report.   10 December 2018

Insurance

Coverys provides capacity for DTW Syndicate 1991

Coverys Managing Agency, the Lloyd’s managing agent of Syndicates 1975, 1991, 3330 and 1110, is joining DTW’s panel of capacity providers, as one of its largest backers, from January 1, 2019.   10 December 2018

Insurance

Liberty merges, rebrands Ironshore Bermuda

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group is integrating its Ironshore Bermuda businesses and rebrands it as Liberty Specialty Markets Bermuda.   6 December 2018

Insurance

VIBE Re poaches AXIS Re veteran for first CEO

Richard Milner, formerly president and chief underwriting officer of AXIS Re London & Asia-Pacific has joined VIBE Reinsurance (VIBE Re) as its first CEO.   6 December 2018

Insurance

Chubb to cut $500m in cost through AI, robotics

Chubb believes that it can achieve more than $350 million in savings by year-end 2022 and $500 million by year-end 2023 through the use of robotics and artificial intelligence (AI) as it eliminates low-value activities, according to a December 2018 investor presentation.   4 December 2018

Insurance

Lloyd’s Lab starts search for second insurtech cohort

The Lloyd’s Lab has launched a new global search for the next cohort of insurtech innovators.   4 December 2018

Insurance

Fitch moves US P&C outlook to stable after rebound

Fitch Ratings has revised the sector outlook for US property and casualty (P&C) insurers to stable from negative.   4 December 2018

Insurance

Chubb expects $225m hit from California wildfires

Chubb expects an impact of approximately $225 million pre-tax, or $195 million after tax from the California wildfires in the fourth quarter of 2018.   4 December 2018

Insurance

Barbican taps property treaty underwriter from CNA

Barbican Insurance Group has appointed Emma Watson as class underwriter for property treaty from CNA Hardy.   4 December 2018

Insurance

Merced P&C downgraded to ‘F’ after California wildfire hit

AM Best has changed the Financial Strength Rating (FSR) to a Non-Rating Designation of F (In Liquidation) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “f” from “a-” of California-based Merced Property & Casualty Company.   4 December 2018

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