News

Insurance

Lloyd's managing agent Vibe shuts A&H and property D&F units blaming tough market

Lloyd's managing agent Vibe Syndicate Management has closed its accident & health (A&H) and property D&F business units with immediate effect, citing "difficult market conditions".   16 September 2019

Insurance

IFRS 17 still beset by some uncertainties, says AM Best

Ratings agency AM Best has highlighted concerns about further amendments being proposed to the International Accounting Standard, IFRS 17, which seeks to reflect market values in the published financial statements of insurers.   16 September 2019

Insurance

Insurtech Concirrus partners with Marsh JLT and Willis Re on new AI-powered marine cargo solution

London-based insurtech Concirrus has launched a new artificial intelligence-powered cargo data analytics solution in partnership with brokers Marsh JLT Specialty and Willis Re Specialty. The company claims it has the potential to "revolutionise" the way cargo insurance is priced, selected and managed in the industry.   16 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

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