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Moody’s: insurers ‘will face a one-off hit to earnings’ after UK Ogden rate review
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.
Convex partners with insurtech Cytora for AI-powered commercial underwriting solution
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 reveals network expansion in Middle East and Africa
Brokerslink, a global network of independent brokers, has added three new affiliates to further expand its presence in the Middle East and Africa region.
AIG hires Accenture expert to develop a robust cyber security strategy
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.
Everest appoints global head of fine art and specie from Charles Taylor
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 ‘hugely disappointed’ as Ogden discount rate set at minus 0.25%
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.
Risk trading insurtech AkinovA unveils Series B investment round to fuel expansion
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.
Hurricane Barry downgraded amid flooding, property damage and power outages
Flooding hit Louisiana and parts of Mississippi on Sunday 14 July after Hurricane Barry came ashore on Saturday 13 July bringing intense rain.
Mercer strikes five-year longevity risk partnership with Club Vita
Mercer, a wholly-owned subsidiary of Marsh & McLennan Companies, has entered into a five-year partnership with longevity analytics firm Club Vita.
Moody's withdraws financial strength rating of Genworth Australia
Rating agency Moody's has withdrawn the Baa1 insurance financial strength rating of Genworth Financial Mortgage Insurance (Genworth Australia) due to "insufficient information".
