Generali buys Polish asset manager Union Investment TFI
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).
Hyperion unveils new insurtech unit; names new RKH CEO
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.
Liberty Mutual places Lloyd's carrier Pembroke under "strategic review"
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.
Insurtech Azur raises £13.3m to target new products and markets
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.
Brown & Brown acquires US broker Hays Companies
Broker Brown & Brown is acquiring the insurance operations of Minneapolis-based Hays Companies, a brokerage firm that operates across 21 US states.
Industry must get better grip on flood risk across Europe
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.
UnipolSai shuns offers of private deal on placement
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.
Stop-gap cover for silent cyber
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.
Cedants reduce size of panels
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.
2017 cat losses revealed stark differences between capacity
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.
