News
Insurance
Bermuda-based Hamilton Insurance Group has hired Michael Papamichael as senior vice president of strategy and corporate development from Sirius Group. 5 December 2018
Insurance
Chubb believes that it can achieve more than $350 million in savings by year-end 2022 and $500 million by year-end 2023 through the use of robotics and artificial intelligence (AI) as it eliminates low-value activities, according to a December 2018 investor presentation. 4 December 2018
Insurance
The 2018 tropical cyclone season across the northern hemisphere has caused overall losses of around $51 billion, well below last year’s figure of $220 billion, but still substantially above the long-term average of $34 billion, according to Munich Re. 4 December 2018
Insurance
National Mortgage Insurance Corporation (NMIC) has reduced its cession rate for its 2019 new insurance written (NIW) for its existing quota share reinsurance treaty (QSR) to 20 percent from 25 percent in 2018. 4 December 2018
Insurance
Fitch Ratings has revised the sector outlook for US property and casualty (P&C) insurers to stable from negative. 4 December 2018
Insurance
AM Best has changed the Financial Strength Rating (FSR) to a Non-Rating Designation of F (In Liquidation) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “f” from “a-” of California-based Merced Property & Casualty Company. 4 December 2018
Reinsurance
The re/insurance industry holds high expectations for blockchain technology as an opportunity to increase efficiency of insurance processes, and the future is beginning to take shape with the launch of new platforms and products. Intelligent Insurer reports. 4 December 2018
Insurance
While most of the leading European insurers have by now taken action on coal, none of the nine US insurers assessed have taken any steps, according to the Unfriend Coal campaign. 3 December 2018
Insurance
Bermuda insurers have lowered their net catastrophe exposure in 2017 compared to the previous year by about 2.0 percent, according to a Nov. 30 Catastrophe Risk in Bermuda report by the Bermuda Monetary Authority (BMA). 3 December 2018
Insurance
The new digital player that Allianz is creating in Europe is set to serve as an example of what the existing agent-based units could achieve if they modernize processes, CEO Oliver Bäte said during a Nov. 30 press conference. 30 November 2018
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