Moody’s Investors Service has warned that the Ogden discount rate of minus 0.25 percent, revealed today by the UK’s Lord Chancellor, will mean a “one-off hit to earnings” for reinsurers that have been working to expectations of a new rate between zero and 1 percent.
Stephen Catlin and Paul Brand's newly launched specialty re/insurer Convex Group has partnered with UK-based insurtech Cytora to develop artificial intelligence-powered solutions for the commercial insurance industry.
Brokerslink, a global network of independent brokers, has added three new affiliates to further expand its presence in the Middle East and Africa region.
American International Group (AIG) has appointed Tom Parker as deputy chief information security officer, responsible for developing and leading the execution of AIG’s global cybersecurity risk management strategies.
Bermuda-based Everest Re Group, has appointed Joshila Tailor as the global head of fine art and specie for Everest Insurance International, which includes Everest Insurance Ireland and Lloyd’s Syndicate 2786.
UK insurers will be “hugely disappointed” as the injury damages rate, the Ogden discount rate, was set at minus 0.25 percent today to come into force on August 5, 2019.
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has launched a Series B investment round to fuel its expansion plans.
Flooding hit Louisiana and parts of Mississippi on Sunday 14 July after Hurricane Barry came ashore on Saturday 13 July bringing intense rain.
Mercer, a wholly-owned subsidiary of Marsh & McLennan Companies, has entered into a five-year partnership with longevity analytics firm Club Vita.
Rating agency Moody's has withdrawn the Baa1 insurance financial strength rating of Genworth Financial Mortgage Insurance (Genworth Australia) due to "insufficient information".