Natural disasters across the world caused significantly lower losses than usual in the first half of 2018 at around $33 billion, according to Munich Re.
Upon closing of the acquisition of the XL Group, the AXA XL-branded unit will combine the group’s P&C commercial lines and specialty risks, AXA CEO Thomas Buberl said in a blog.
Managing general agents (MGAs) have traditionally received their capacity from insurers but are now increasingly taking advantage of alternative capacity providers, MGAA chairman Charles Manchester suggested in conversation with Intelligent Insurer.
Specialist re/insurance market Lloyd’s has launched a new digital distribution platform designed to quickly and efficiently connect insurance businesses and entrepreneurs with Lloyd’s underwriters.
Anbang Insurance Group is exploring the sale of Belgian insurer Fidea, Bloomberg News reported citing people “with knowledge of the matter”.
Lloyd’s review of underperforming syndicates could cause pandemonium for managing general agents and disruption in many lines of business if it results in syndicates retracting their capacity from unprofitable areas quickly.
Property/casualty insurer Chubb has become an industry association member of the Blockchain in Transport Alliance (BiTA).
The cost of insurance claims for merger-objection litigation has risen “dramatically” in recent years, according to Chubb.
Re/insurer XL Catlin has appointed Stefan Homberger as head of multinational casualty insurance in the US and promoted Arielle Moody as team lead for the US Eastern region multinational casualty group.
Severe thunderstorms leading to flash floods and hail across the eastern two-thirds of the US in June led to $4 billion economic losses and $3 billion of claims for insurers, according to Aon’s Global Catastrophe Recap report.