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Advent, Canopius-backed UK insurtech Kinsu shuts down
Insurance
London-based insurtech Kinsu, which provided insurance for laptop, phones, bicycles, and other home contents, has announced that it is exiting the market "after an awesome year of fundraising".   29 March 2019
Boeing 737 Max software fix confirmed as Munich Re assesses exposure
Insurance
As US aircraft manufacturer Boeing announced software upgrades to its 737 Max planes, it remained unclear how far this fix could mitigate the potential losses for the global insurance industry.   28 March 2019
CCR Re sets up France-domiciled sidecar 157 Re to access new ILS investors
Alternative Risk Transfer
Medium sized reinsurer CCR Re has set up 157 Re, a sidecar vehicle, which it said is the first to be domiciled in France, to give it access to new ILS investors.   28 March 2019
Insurance
Intermediary Hyperion Insurance Group, which owns MGA DUAL, retail broker Howden and specialty broker RKH, has appointed Rebecca Scott as new group chief operating officer (COO).   28 March 2019
Insurance
Centene Corporation and WellCare, two big players in the US government-sponsored health insurance programme, have announced that they are merging in a deal worth $17.3 billion.   28 March 2019
Insurance
Bermuda-based reinsurer Monument Re has signed a definitive agreement to acquire Inora Life DAC from French financial services company Societe Generale.   28 March 2019
Insurance
Re/insurance broker Aon has appointed Edwin Charnaud as EMEA chairman for its M&A and transaction solutions business.   28 March 2019
Insurance
Specialist insurer Markel International has appointed Christian Stobbs as strategy director for Asia.   28 March 2019
Insurance
Market digitalisation and the launch of the “Brexit-proof” Lloyd’s Brussels subsidiary were highlighted as ongoing initiatives that could help the specialist re/insurance market continue to turn around its performance, after CEO John Neal described the 2018 annual results as “not of the standard that we would expect”.   27 March 2019
Insurance
Norwegian aluminium and renewable energy company Norsk Hydro, which suffered a severe ransomware attack last week, has estimated that total losses from the incident have already reached 300-350 Norwegian crowns (nearly $40 million).   27 March 2019

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