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.
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.
Re/insurer AXA XL has made a number of appointments in its UK client and distribution team, based in London.
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 Syndicate Management has closed its accident & health (A&H) and property D&F business units with immediate effect, citing "difficult market conditions".
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.
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 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, a London insurance market service provider, has appointed Mike Salvino as its new president and chief executive officer (CEO).