News

Insurance

AXIS Capital outlook changed to 'negative' by Moody's

Rating agency Moody's has revised its outlook of Bermuda-based AXIS Capital Holdings and its operating subsidiaries to negative from stable, reflecting the re/insurer's lower capitalisation and higher operating and financial leverage relative to peers.   4 April 2019

Alternative Risk Transfer

Willis Re: reinsurers adopt ‘rational rating approach’ for April 2019 renewals

Reinsurers have adopted a rational rating approach for 1 April renewals with price increases of up to 25 percent concentrated on loss-affected contracts and programmes, Willis Re has said.   3 April 2019

Insurance

Insurtech VC firm IA Capital Group raises $150m

Insurtech-focused venture capital firm IA Capital Group has raised $150 million across its three funds focusing on property/casualty, life/annuity/retirement, and later-stage fintech opportunities.   3 April 2019

Insurance

CLS Risk to ‘wake sleeping giant’ with renewables permit challenge insurance

CLS Risk Solutions (CLS), a provider of property and renewables development risk cover, has launched permit challenge insurance for renewable energy infrastructure.   3 April 2019

Insurance

AXA XL makes senior appointment in Bermuda professional lines unit

Re/insurer AXA XL has promoted Jennifer Minors to senior vice president, product line leader in its Bermuda professional lines insurance business.   3 April 2019

Insurance

Marsh & McLennan acquires Arizona's Lovitt & Touché insurance agency

Marsh & McLennan Agency (MMA), the middle market agency subsidiary of broker Marsh, has entered a new market with the acquisition of Arizona-based Lovitt & Touché, one of the state’s largest independent insurance agencies.   3 April 2019

Insurance

Nexus Group raises £16m in capital to fund acquisitions

Specialty managing general agent (MGA) Nexus Group has secured a £16 million funding that it plans to use in advancing its merger and acquisition (M&A) activity.   3 April 2019

Insurance

Nexus’ Xenia Broking Group acquires Credit & Business Finance

The newly formed independent broking arm of Nexus Group, called Xenia Broking Group, has acquired specialist trade credit broker Credit & Business Finance (CBF).   1 April 2019

Insurance

Moody’s warn no-deal Brexit likely to damage UK life insurers capital, growth and profit

Ratings agency Moody’s has warned that a no-deal Brexit is likely to damage the capital, growth and profit of UK life insurers in the short to medium term, in its latest report for investors.   1 April 2019

Insurance

ArgoGlobal, a Lloyd’s insurer and Argo Group member, hires Helen Donegan

Lloyd’s insurer and member of Argo Group, ArgoGlobal, has secured Helen Donegan as head of operations – Europe, Middle East and Asia.   1 April 2019

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