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Singapore Re posts profit in Q1

Asia Pacific, Singapore20-04-2018Reinsurance news

Singapore Reinsurance had a profitable first quarter of 2018, with a profit before tax of $5.94 million, an increase of 13.4 percent year-on-year.

Miller taps Marsh and RKH execs for credit and political risks

London, UK20-04-2018Insurance news, Reinsurance news

Re/insurance broker Miller has expanded its credit and political risks unit with the hiring of Marsh and RKH Specialty executives, Oscar Moseley and Rosie Denee, in London.

AIG splits Europe business between UK, Luxembourg ahead of Brexit

Europe, North America, UK19-04-2018Insurance news, Reinsurance news

American International Group (AIG) is creating two new insurance companies, one in the UK and one in Luxembourg and is splitting the European business among them ahead of the UK leaving the EU.

Allstate faces $361m cat losses in Q1, 2018

North America19-04-2018Insurance news, Reinsurance news

US personal lines insurer Allstate Corporation estimated catastrophe losses at $361 million, pre-tax, and $285 million after-tax, for the first quarter 2018.

Blocksure technology could split premiums at source

Global19-04-2018Insurance news, Reinsurance news, Technology News

Blocksure has developed a revolutionary insurance operating system covering sales, administration, and claims and built on blockchain technology, as chief executive Ranvir Saggu explains to Intelligent Insurer.

Arch secures $375m ILS reinsurance for mortgage risk

North America19-04-2018Alternative risk transfer news, Insurance news, Reinsurance news

Arch Capital Group’s US mortgage insurance operation Arch Mortgage Insurance Company (Arch MI) secured $374,460,000 of indemnity reinsurance from Bellemeade Re 2018-1, a special purpose insurer.

San Francisco M7.0 earthquake would damage more than a million homes

North America19-04-2018Insurance news, Property cat, Reinsurance news

A hypothetical magnitude 7.0 earthquake epicentered in Oakland would damage more than a million homes and less than 10 percent of total residential losses would be insured because of a low residential earthquake insurance take-up in the Bay Area, according to a scenario developed by the US Geological Survey (USGS).

AXIS hires reinsurance CUO from AIG

North America18-04-2018Insurance news, Reinsurance news

AXIS Re, the reinsurance arm of Bermuda-based AXIS Capital Holdings, has appointed AIG's Megan Thomas as chief underwriting officer, responsible for product and portfolio management within AXIS Re.

Munich Re names global CFO of insurtech unit Digital Partners

Global18-04-2018Insurance news, Reinsurance news, Technology News

Munich Re has appointed Angela Homm as global CFO of its subsidiary Digital Partners, which was established by the German reinsurer in 2016 to explore insurtech opportunities and partner with the industry disruptors.

Hurricane Irma claims reach $8.6bn in Florida

North America18-04-2018Insurance news, Property cat, Reinsurance news

Claims from hurricane Irma which struck Florida in September 2018 have reached $8.6 billion in the state, according to the Florida Office of Insurance Regulation.

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