Canadian property and casualty insurer Intact Financial Corporation has entered into a definitive agreement with Princeton Holdings to acquire The Guarantee Company of North America, a specialty lines insurer in Canada and the US, and Frank Cowan Company, a managing general agent (MGA) focused on specialty insurance, for approximately C$1 billion ($750 million) in cash.
Allianz Insurance has appointed Shelley Hughes to the newly created position of digital claims propositions manager.
US-based enterprise risk management agency Cobbs Allen has formed a new specialty insurance brokerage and investment banking platform to serve corporates and private equity clients. The company believes that current consolidation in the marketplace has created a need for an independent platform with scalability and the ability to move quickly and nimbly.
Property/casualty insurer Travelers Companies has created a new position to lead its environmental, social and governance (ESG) efforts across the organisation.
Insured catastrophe losses at $19bn in H1 2019; Swiss Re highlights protection gap in emerging countries
Insured losses from global catastrophe events were estimated at $19 billion in the first half of 2019, mainly driven by secondary perils such as thunderstorms and flooding events, according to the new Swiss Re sigma report.
Sydney-based independent reinsurance and binder placement broker Wickshire has been approved as a Lloyd’s of London broker.
AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has appointed founder and former CEO of Tokio Millennium Re Tatsuhiko Hoshina to join its advisory board.
Technology-driven risk solutions provider Sedgwick has hired Patrick Peters in a newly-created role to drive expansion across the Africa and the Middle East region.
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.