Italian insurer Generali will acquire Polish asset management company Union Investment TFI from the German Group Union Asset Management Holding to bolster its presence in central and eastern Europe (CEE).
Intermediary Hyperion Insurance Group will establish a new technology-focused business that will manage the group's third-party insurtech investments, as well as incubate its own start-up ventures.
Property/casualty insurer Liberty Mutual Insurance is undertaking a strategic review of its London-based Pembroke Managing Agency, which came into its portfolio when it acquired lronshore in May 2017.
Azur, a managing digital agent (MGA), has completed its series B funding round, raising £13.3m of funding and support from AIG, Ascot Group (owned by CPPIB, the Canada Pension Plan Investment Board), Hyperion Insurance Group and the serial fintech angel and entrepreneur Richard Little.
Broker Brown & Brown is acquiring the insurance operations of Minneapolis-based Hays Companies, a brokerage firm that operates across 21 US states.
The re/insurance industry must get a better handle on flood risk in Europe, which remains underestimated and underinsured, Michael Pickel, member of the executive board of Hannover Re responsible for target markets in P&C reinsurance, told Baden-Baden Today.
Italian insurer UnipolSai Assicurazioni has been approached by a number of reinsurers looking to complete a private placement for the additional €200 million of coverage it is seeking this year—but it will remain loyal to its existing panel of 17 reinsurers, its buyer told Baden-Baden Today.
Aon has launched a new solution designed to help insurers identify, quantify, and eliminate so-called silent cyber in their portfolios—backed by a reinsurance policy. Luke Foord-Kelcey of Aon’s Reinsurance Solutions business explained more to Baden-Baden Today.
Many cedants are further reducing the size of their reinsurance panels while also rebalancing their reliance on some of the bigger, more influential reinsurers, within them, Jörg Bruniecki, head of global client & broker management at PartnerRe, told Baden-Baden Today.
The 2017 natural catastrophes, which resulted in record insured losses globally, also served to test the quality of reinsurance providers—and some stark differences in quality were revealed, Stephan Ruoff, CEO of Tokio Millennium Re (TMR), told Baden-Baden Today.