News
Insurance
There is a real opportunity to improve reinsurance processes with the use of blockchain technology, which can deliver cost savings and efficiency gains of 30 percent by taking out unnecessary reconciliation, repetitive duplication of work and waiting times. 11 September 2017
News
Reinsurers’ 2017 profitability declined to the lowest level since 2005, when the industry was affected by hurricanes Katrina, Rita and Wilma, Moody’s said in an April 2 report. 3 April 2018
Insurance
After selling the claims business of Direct Group for £36 million earlier this month, UK intermediary Ardonagh Group has revealed that it is selling its commercial managing general agency (MGA) businesses to Arch UK Holdings for up to £31 million. 1 November 2018
Insurance
The deal value of global insurance mergers and acquisitions (M&A) surged to €37 billion in the first six months of 2018, with many mega deals pushing the value to its highest first-half total since the financial crisis. 31 October 2018
Insurance
Dutch insurer NN Group saw a major net result loss in its full year results but Lard Friese, NN Group’s CEO, pointed to a positive operating result in a year that saw the integration of Delta Lloyd and a major cost reduction program. 14 February 2019
Insurance
Bermuda-based RenaissanceRe Holdings estimated the losses from the October 2017 California Wildfires will have a net negative impact of $90 million on its fourth quarter 2017 results of operations. 6 December 2017
Insurance
Maidstone Insurance Company, a New York-domiciled, personal lines insurer with 23 state licenses, has been acquired by Special Diversified Opportunities, a publically traded diversified holding company that acquires companies in various industries. 4 January 2018
Insurance
Specialist re/insurance market Lloyd’s of London has revealed that it will write facultative reinsurance and non-proportional excess of loss (XoL) treaty reinsurance on Lloyd’s Brussels paper from 1st January 2019 across all markets in the EEA. 30 October 2018
Insurance
AEGIS London, the UK-based subsidiary of AEGIS, has appointed Jonathan Humm as its new class underwriter for marine hull. He joins from Hiscox where he was deputy hull underwriter. 22 May 2018
Insurance
Munich has overtaken London as the European leader of insurtech, but there’s still hope for London to take back its crown. 28 September 2017
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