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Insurance
Former Cooper Gay CEO Toby Esser is set to acquire a majority stake in independent London broker AFL, sources told Intelligent Insurer. 8 August 2017
Alternative Risk Transfer
Solidum Partners, the Switzerland-based investment firm that specialises in helping companies issue private cat bonds, has facilitated the issuance of the first insurance-linked security (ILS) whereby the traditional settlement system has been replaced with the use of blockchain. 8 August 2017
Insurance
Increasing premium limits, reporting requirements, ownership restrictions, and increased scrutiny from the Internal Revenue Service (IRS) has made prospective captive owners more cautious about forming 831(b) captives. 8 August 2017
Insurance
Against a backdrop of rising medical costs and uncertainty surrounding the future of US healthcare, more proactive business owners are looking at more competitively priced solutions such as medical group captives. 8 August 2017
Insurance
The increasing number of captive domiciles in the US – with around 40 states now adopting some form of legislation – is good for the industry, giving prospective captive owners more choice and keeping the older domiciles such as Vermont, South Carolina and Hawaii on their toes. 8 August 2017
Insurance
The London Market Group (LMG) said on Aug. 8 that it introduced an online service that converts the contents of a paper Market Reform Contract (MRC) – the policy wording – into consistent electronic data that can then be ingested by the carriers’ own systems. 8 August 2017
Insurance
Former Sompo Canopius CEO Stuart Davies has joined the board of UK insurtech platform REG as a non-executive director. 7 August 2017
Insurance
The new UK insurance group The Ardonagh Group which combines Towergate, Autonet, Chase Templeton, Ryan Direct and Price Forbes may be sold or listed on the stock exchange, the CEO reportedly told The Telegraph in an Aug. 6 report. 7 August 2017
Insurance
US property/casualty insurer Travelers has completed the acquisition of UK-based small and medium-sized enterprise (SME) insurance broker Simply Business. 7 August 2017
News
US-based Mutual Reinsurance Bureau (MRB) has launched the search for a successor to its current CEO Timothy Dorr, who has announced his plans to retire from the Illinois-based joint reinsurance association. 7 August 2017
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