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.
Catastrophe bond issuance dropped to $7.4 billion in the first half of 2018 from $8.8 billion issued in the first half of last year as activity in North America halved, according to the PCS H1 2018 Catastrophe Bond Report.
MTech Capital has completed the initial closing of the firm’s insurtech venture fund with $75 million of capital commitments from three anchor investors including CNA Financial Corporation, NN Group, and a global insurer.
AXA Liabilities Managers, an AXA Group company specialising in non-life re/insurance legacy acquisitions, has closed its 18th acquisition on the external market with Cologne-based Gothaer Finanzholding.
Allied Insurance Brokers has appointed Tres Whitlock as its new president.