News

Insurance

Many reinsurers ‘increase cat risk exposure’ to exploit 2019 price uptick, finds S&P Global

Most of the top 20 reinsurers have switched strategy to take advantage of the price uptick, seen during the April, June and July 2019 renewals, by increasing their exposure to catastrophe risk, a report from S&P Global has found.   9 August 2019

Insurance

Ryan Specialty merges MGUs

RSG Underwriting Managers (RSGUM), a subsidiary of Ryan Specialty Group, is merging its managing general underwriters (MGUs) ThinkRisk and EmergIn Risk to operate under a unified brand.   7 November 2018

Insurance

AXA acquires Islamic reinsurer Emirates Re

AXA Group's specialist run-off acquirer and manager has acquired a majority stake in Emirates Re.   17 July 2018

Insurance

RSA seeks new CFO; UK and International CEO Steve Lewis steps down

RSA Insurance Group has promoted its chief financial officer Scott Egan to become the new chief executive (CEO) of UK and International division, replacing Steve Lewis.   6 February 2019

Insurance

Voce drops Argo board proposals after regulatory ‘flip-flop’

Activist investor Voce Capital Management has withdrawn its controversial board nominations ahead of insurer Argo’s annual general meeting after official state approval was revoked.   22 May 2019

Insurance

Insurtech Kin raises $47m to launch Florida carrier with Hudson Structured backing

Chicago-based insurtech start-up Kin has raised $47 million funding from new investors including Hudson Structured Capital Management (HSCM Bermuda), August Capital, Avanta, and UChicago Startup Investment Program.   28 August 2019

Insurance

US insurtech Indio secures $20m funding for business insurance platform

Indio Technologies, an insurtech company that streamlines the business insurance application process, has secured $20 million in Series B funding led by Menlo Ventures, with participation from 8VC.   3 May 2019

Insurance

McLarens picks Cunningham Lindsey's Pigot as global head of specialty, London markets director

Global loss adjuster McLarens has hired David Pigot for the newly created role of director of London markets & global head of specialty.   3 May 2019

Insurance

Fitch expects P&C rates to increase from HIM losses, other lines less certain

Hurricanes Harvey, Irma and Maria (HIM), along with earthquakes in Mexico and California wildfires could result in 2017 being a record year for insured cat losses, according to Fitch Ratings' 'European Reinsurance Dashboard - 3Q17 Results'.   16 November 2017

Alternative Risk Transfer

Iran looks into ILS as reinsurance replacement

Iran is working on the development of a range of new financial products, including insurance-linked securities (ILS) as reinsurance cover has become scarce in the country due to the reintroduction of sanctions, according to an Oct. 2 Reuters report.   4 October 2018

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