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Insurance
Hiscox Re and ILS has launched a new US personal lines flood product, available to its insurance carrier, according to an Oct. 16 statement. 16 October 2017
Insurance
Zurich said that it is selling its UK workplace pensions and savings business with assets under administration of more than £15 billion and around 500,000 customers to Lloyds banking group (LBG). 16 October 2017
Insurance
Californian automaker Tesla is partnering with Liberty Mutual Insurance to offer an auto insurance plan designed specifically for its electric cars in the US, Bloomberg News reported on Oct. 13. 16 October 2017
Insurance
Reinsurers and large insurers are at risk of being hit by unexpectedly large losses stemming from a large cyber attack on a par with substantial hurricane losses in the US—because they do not understand their aggregations to this exposure. 16 October 2017
Insurance
The Indian government raised about 98 billion rupees ($1.5 billion) on Oct. 13 by selling some of its shares in the nation’s top reinsurer General Insurance Corp of India (GIC Re), Reuters reported on the same day. 16 October 2017
Insurance
Lloyd’s has paid close to three quarters of a billion dollars ($738 million) in claims so far for Hurricanes Harvey, Irma and Maria, said Jon Hancock, performance management director at Lloyd’s. 16 October 2017
Insurance
Insurtech startup CoverWallet has closed an $18.5 million series B funding round led by Foundation Capital with participation from existing investors Union Square Ventures, Index Ventures, CV Starr, and Two Sigma Ventures. 16 October 2017
Insurance
Losses from natural catastrophes in the third quarter will likely wipe out global reinsurers' annual earnings and ultimately become a capital event for the sector, S&P Global Ratings said on Oct. 13. 16 October 2017
Insurance
Indian reinsurer GIC Re is preparing to launch an IPO. Chairman-cum-managing director Alice G Vaidyan explains the reasons behind it and the company’s plans for the months ahead to PCI Today. 15 October 2017
Insurance
The covered agreement signed between the US and the EU has the potential to free up billions trapped in onerous collateral requirements. But UK re/insurers must remember the deal will not cover them post-Brexit. Intelligent Insurer reports. 13 October 2017
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