News

Insurance

RSA appoints new CEOs of Ireland and Scandinavia

RSA Insurance Group has appointed Kevin Thompson as the new chief executive of its Irish business, RSA Ireland, replacing Ken Norgrove who is moving to the role of CEO of Codan/Trygg-Hansa, the company's Scandinavian business.   16 September 2019

Insurance

Understanding worst-case scenarios crucial in cyber resilience strategy, data shows, suggesting $6tr global losses by 2021

A new research conducted by Cybersecurity Ventures suggests that the annual global cyber losses are expected to reach $6 trillion by 2021, with cyber security spending projected to exceed $1 trillion cumulative in the five years period leading up to 2021.   13 September 2019

Insurance

New insurtech using NLP and machine learning technology launches in the US

New York-based NeuralMetrics, an insurtech data provider using natural language processing (NLP) technologies to power a real-time, alternative data engine for commercial lines general or property and casualty (P&C) insurance companies, has launched in the US.   13 September 2019

Insurance

Insurtechs raise record $3bn in funding in first half of 2019

Insurtech firms raised a record $3 billion in new funding in the first half of 2019, with developments such as usage-based insurance boosting demand in the sector, with European companies attracting the lion's share.   13 September 2019

Insurance

Extreme wildfire risk affects 775,654 US homes, finds CoreLogic report

There are 775,654 US homes at extreme risk of wildfire, according to CoreLogic analysts.   13 September 2019

Insurance

Prudential to buy US insurtech start-up Assurance IQ for $2.35bn

Prudential Financial is set to acquire US-based insurtech start-up Assurance IQ for $2.35 billion.   13 September 2019

Insurance

Alliant forms M&A group to serve private equity firms, alternative asset managers

Alliant Insurance Services has established a new mergers & acquisitions group to serve the private equity firms and alternative asset managers. It will be led by senior vice president Jonathan Gilbert.   13 September 2019

Insurance

Mining insurance 'not yet a truly hard market'; capacity high by past standards: Willis Towers Watson

Mining insurance is still not a truly hard market yet, with capacity remaining high by historical standards, according to Willis Towers Watson’s (WTW) Mining Risk Review 2019.   13 September 2019

Insurance

Aspen shakes up executive lineup, Edwards replaces Cain as UK insurance CEO

Bermuda-based Aspen Insurance Holdings has promoted Clive Edwards to chief executive officer (CEO) of Aspen Insurance UK (AIUK) and Aspen Managing Agency (AMAL).   13 September 2019

Insurance

Markel buys UK-based business to strengthens presence in the online market

Markel UK, a division of Markel International that provides insurance, tax and legal services for SMEs, is acquiring the online freelancer and contractor business of commercial insurance brokers Caunce O’Hara.   13 September 2019

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