News

Insurance

New legislation reduces no-deal Brexit risks: Fitch

Interim solutions and contingency planning with respect to insurance claims are reducing some significant risks a "no-deal" Brexit would present to the European insurance sector, Fitch Ratings says in a new report.   10 December 2018

Insurance

Berkshire Hathaway exits Hong Kong EC terrorism pool

Berkshire Hathaway Specialty Insurance Company (BHSI) has withdrawn from the Hong Kong employees’ compensation (EC) terrorism pool for policies starting or renewing on or after Dec. 1, 2018.   10 December 2018

Insurance

Coverys provides capacity for DTW Syndicate 1991

Coverys Managing Agency, the Lloyd’s managing agent of Syndicates 1975, 1991, 3330 and 1110, is joining DTW’s panel of capacity providers, as one of its largest backers, from January 1, 2019.   10 December 2018

Insurance

Gallagher snaps up brokerage firms in UK, New Zealand

Arthur J Gallagher has snapped up two insurance brokerage firms to expand its footprint in the UK and New Zealand.   10 December 2018

Insurance

Tokio Marine hires Chubb property underwriter in Singapore

Specialist and corporate insurer Tokio Marine Kiln (TMK) has hired a property underwriting manager from Chubb for its Singapore team.   10 December 2018

Insurance

AIG chief data officer joins AI insurtech Planck Re

American International Group's (AIG's) chief data officer Leandro DalleMule has joined insurtech startup Planck Resolution as general manager, North America.   10 December 2018

Alternative Risk Transfer

Markel reveals investigation into CATCo loss reserves

Markel Corporation has confirmed that it is fully cooperating with inquiries by US and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management and its subsidiaries.   7 December 2018

Insurance

XL Group upgraded by AM Best following AXA takeover

AM Best has removed from “under review with developing implications” and upgraded the credit ratings of XL Group.   7 December 2018

Alternative Risk Transfer

Global reinsurance outlook upgraded by AM Best

AM Best has revised its market segment outlook for the global reinsurance industry to stable from negative for 2019.   6 December 2018

Insurance

Liberty merges, rebrands Ironshore Bermuda

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group is integrating its Ironshore Bermuda businesses and rebrands it as Liberty Specialty Markets Bermuda.   6 December 2018

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