Insured losses from Typhoon Lekima that ravaged parts of China this weekend is expected to exceed CNY 6 billion ($855 million), according to catastrophe risk modelling firm AIR Worldwide.
Re/insurer Sompo Holdings and US-based insurtech Slice Labs have entered into a proof-of-value contract to offer a 'first-of-its-kind' on-demand insurance to the Asia Pacific region.
Arch Insurance North America has entered into a definitive agreement to acquire insurtech managing general underwriter (MGU) Ventus Risk Management.
London-based McGill & Partners, a specialty risk solutions company, has signed an agreement with broker Marsh and JLT Specialty to acquire certain specialty business from Marsh in London.
Broker Willis Towers Watson has appointed Adam Garrard as new leader for the corporate risk & broking (CRB) segment, replacing Todd Jones who is joining specialist insurer QBE Insurance Group as CEO North America.
American International Group (AIG) has hired Munich Re's Richard Olsen as new chief actuary, general insurance, based in New York.
Challenging business conditions, coupled with cheap financing in the debt market, will continue to fuel mergers and acquisitions (M&A) activity and drive consolidation in the global reinsurance market, according to a new report from Standard & Poor (S&P).
AXIS Re, the reinsurance business segment of AXIS Capital Holdings, has appointed Gino Smith as head of property for Europe, the Middle East and Africa (EMEA) Latin America, effective November 2019.
Everest Insurance, the specialty insurance division of Bermuda-based Everest Re Group, has added two new senior executives to its US excess casualty group, following the recent team expansions in the Midwest and West regions.
Broker Brown & Brown has acquired substantially all of the assets of employee benefits firm Yozell Associates in the US.