Articles

Insurance

Norway's Norsk Hydro cyber attack losses estimated at $40m; AIG named as lead insurer

Norwegian aluminium and renewable energy company Norsk Hydro, which suffered a severe ransomware attack last week, has estimated that total losses from the incident have already reached 300-350 Norwegian crowns (nearly $40 million).   27 March 2019

Insurance

Lloyd's to tackle 'distressing' sexual harassment claims with possible lifetime bans

Specialist insurance and reinsurance market Lloyd's of London has outlined a new "plan of action" to address reports of sexual harassment in the market and create a safe and inclusive working environment.   27 March 2019

Insurance

Hamilton Lloyd's CEO O'Donohoe to leave; new executives revealed

Bermuda-based Hamilton Insurance Group's Lloyd's unit CEO Dermot O’Donohoe is leaving the company following its definitive agreement with Liberty Mutual to acquire Pembroke Managing Agency and Ironshore Europe DAC.   26 March 2019

Insurance

LIIBA elects BMS CEO Nick Cook as new deputy chair

London and International Insurance Brokers’ Association (LIIBA) has elected Nick Cook, CEO of BMS Group, as its new deputy chairman.   26 March 2019

Insurance

IGI’s Jabsheh praises 2018 results ‘solid performance’ as net profit up 237%

International General Insurance Holdings chief executive officer Wasef Jabsheh lauded the insurer’s “solid performance” as the company's net profits rose substantially in 2018.   25 March 2019

Insurance

RenRe closes $1.5bn Tokio Millennium Re acquisition; AM Best removes reinsurer from 'under review'

Bermuda-based RenaissanceRe Holdings (RenRe) has completed the acquisition of Tokio Millennium Re (TMR) following the receipt of all necessary regulatory approvals.   25 March 2019

Insurance

Campaigners could force 1,300 insurers to reveal fossil fuel deals

A petition, signed by 60 organisations, has called for more than 1,300 insurance companies that do business in California to disclose the fossil fuel projects they insure and invest in.   22 March 2019

Insurance

Insurtech Sherpa ‘first to use AI to insure self-employed’

Sherpa, a UK insurtech startup, said it is the “first to use AI” to offer a fully digital, personalised insurance for the self-employed, a fast growing demographic.   22 March 2019

Insurance

Florida ‘still cash cow’ for insurers, say KBW analysts after Guy Carpenter Summit

Analysts from Keefe, Bruyette & Woods (KBW) said “Florida is still a cash cow for reinsurers”, with demand looking “flat to up”, while “supply looks flat”, following Guy Carpenter's (GC) 2019 Florida Summit.   21 March 2019

Insurance

R&Q’s Accredited partners with specialty MGA Pronto in California

A Randall & Quilter Florida-domiciled subsidiary has confirmed a program underwriting partnership with Pronto General Insurance Agency (Pronto).   21 March 2019

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