Articles

Insurance

Allianz acquires stake in Africa Re

Germany-based Allianz Group has signed an agreement to acquire 8 percent in African Reinsurance Corporation (Africa Re) for a total amount of $81 million.   30 May 2018

Insurance

Aon creates new group to grow MGA, MGU network; names CEO

Broker Aon has created a new Carrier Solutions group, under the leadership of Karl Hennessy, to support and grow its proprietary network of managing general agents (MGAs) and managing general underwriters (MGUs).   30 May 2018

Insurance

Former Anbang chairman appeals conviction

Wu Xiaohui, the former chairman of Anbang Insurance Group, has appealed his conviction for fraud and embezzlement, the Financial Times reported on May 30 citing his lawyer.   30 May 2018

Insurance

Tower to raise premium after losses

New Zealand-based Tower has been impacted by severe and unprecedented weather and a settlement of a Peak Re dispute resulting in a half year loss of NZ$11.6 million ($8.04 million) for the half year ended March 31, 2018 compared to a loss of NZ$8.2 million in the same period a year ago.   30 May 2018

Insurance

AmTrust go-private plan supported by second advisory firm

Advisory firm Egan-Jones has joined Glass Lewis in recommending that AmTrust Financial Services stockholders vote "FOR" the company's merger agreement at the special meeting of stockholders on June 4, 2018.   30 May 2018

Insurance

First named storm of 2018 hurricane season causes $50m insured loss

The insured loss in the US from Subtropical Storm Alberto will be close to $50 million, according to Karen Clark & Company (KCC) estimates.   30 May 2018

Insurance

Malaysian Re partners with Argo Managing Agency

Malaysia’s national reinsurer Malaysian Re has signed a memorandum of understanding (MoU) with Argo Managing Agency, which manages ArgoGlobal Syndicate 1200 and Ariel Re Syndicate 1910 at Lloyd’s, for the provision of underwriting and technical support.   30 May 2018

Insurance

AXA launches ridesharing insurance offering

French insurer AXA has designed a new car insurance cover in collaboration with ridesharing platform BlaBlaCar.   29 May 2018

Insurance

AIG expands pension risk business

American International Group (AIG) has expanded its presence in the pension risk transfer market after reaching agreements on the two largest plan termination transactions of 2017.   29 May 2018

Insurance

Amazon leads $12m investment round in insurtech Acko

E-commerce giant Amazon has led a $12 million funding round in Acko Technologies, which owns online general insurance provider Acko General Insurance, according to media reports.   29 May 2018

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