London market veterans launch Commonwealth Insurance Forum
Two London market veterans have launched a new body, the Commonwealth Insurance Forum (CIF), to promote the industry within the 53 countries of the British Commonwealth.
RMS puts Hurricane Dorian US insured losses in $500m-$1.5bn range, total losses in $4bn to $8.5bn range
Hurricane Dorian will cost insurance losses of between $500 million and $1.5 billion in the US, much less than some had estimated.
Risk trading insurtech AkinovA donates ILS assets to insurance standards-setting body ACORD
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has donated some insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the insurance industry.
AXA XL promotes trio to grow UK book of business
Re/insurer AXA XL has made a number of appointments in its UK client and distribution team, based in London.
House of Insurtech launches underwriting-as-a-service platform
London-based House of Insurtech has launched a new cloud-based 'underwriting-as-a-service' platform, called Insurforce, that aims to lower administration cost, and increase flexibility for insurers, MGAs and brokers.
Lloyd's managing agent Vibe shuts A&H and property D&F units blaming tough market
Lloyd's managing agent Vibe Syndicate Management has closed its accident & health (A&H) and property D&F business units with immediate effect, citing "difficult market conditions".
IFRS 17 still beset by some uncertainties, says AM Best
Ratings agency AM Best has highlighted concerns about further amendments being proposed to the International Accounting Standard, IFRS 17, which seeks to reflect market values in the published financial statements of insurers.
AIR Worldwide pegs typhoon Faxai insured losses between $3bn and $7bn
Catastrophe risk modelling firm AIR Worldwide estimates that industry insured losses from Typhoon Faxai, which made landfall in Japan on September 9, will be between JPY 340 billion ($3 billion) and JPY 740 billion ($7 billion).
RSA appoints new CEOs of Ireland and Scandinavia
RSA Insurance Group has appointed Kevin Thompson as the new chief executive of its Irish business, RSA Ireland, replacing Ken Norgrove who is moving to the role of CEO of Codan/Trygg-Hansa, the company's Scandinavian business.
DXC Technology appoints new chief executive officer to lead next phase of growth
DXC Technology, a London insurance market service provider, has appointed Mike Salvino as its new president and chief executive officer (CEO).
