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2018 first half losses from natural disasters lowest since 2005

Europe, North America11-07-2018Insurance news, Property cat, Reinsurance News

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.

Buberl introduces AXA XL brand

Bermuda, Europe11-07-2018Insurance news, Reinsurance News

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.

MGAs tap new capacity providers

Europe11-07-2018Insurance news, Reinsurance News, Specialty

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.

Lloyd’s launches new digital distribution platform

Global, London Market, UK11-07-2018Insurance news, Reinsurance News

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 puts Belgian insurer up for sale

Belgium, China, Europe11-07-2018Insurance news

Anbang Insurance Group is exploring the sale of Belgian insurer Fidea, Bloomberg News reported citing people “with knowledge of the matter”.

Lloyd’s profitability push may cause ‘pandemonium’, says MGAA chair

London Market, UK11-07-2018Insurance news, Reinsurance News

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.

Chubb joins blockchain startup BiTA in digital push

Asia Pacific, North America11-07-2018Insurance news, Technology News

Property/casualty insurer Chubb has become an industry association member of the Blockchain in Transport Alliance (BiTA).

Sharp rise in claims for merger-objection litigation

Global, North America11-07-2018Insurance news

The cost of insurance claims for merger-objection litigation has risen “dramatically” in recent years, according to Chubb.

XL Catlin bolsters multinational casualty insurance team

North America11-07-2018Casualty, Insurance news, Reinsurance News

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.

Insurers face in excess of $3bn claims from June storms

Global11-07-2018Insurance news, Property cat, Reinsurance News

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.

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