Reinsurance
B3I blockchain firm 'will need a lot of money to build our vision' says CEO
Blockchain company B3I, which boasts a plethora of big-name shareholders among its backers, will focus on building its product rather than chasing more funding in the immediate future, B3I CEO John Carolin told Post at a launch event.
This month: Celebrations, climate change and culture
In this month’s issue Post published the annual top 100 Insurers, a list of the UK's biggest insurers ranked by non-life gross premium written in 2018, in association with AM Best.
MS Amlin to withdraw from nine lines of business
MS Amlin is to withdraw from nine lines of business that “no longer form part of its future strategic direction” as part of a wider restructure following an underwriting review.
Analysis: Reinsurance rates - breaking the cycle
Reinsurance rates have started to rise after a series of natural disasters in 2017 and 2018, but the increases are not being seen across the board.
Typhoon Faxai insured losses could hit $9bn: RMS
Catastrophe modelling firm RMS has estimated that the insured losses from Typhoon Faxai in Japan will be in the range of $5bn to $9bn (£4.1bn to £7.3bn).
Scor’s battle with activist investor rumbles on amid Covéa legal action
Activist investor CIAM has blasted Scor's strategy as "without significant intrinsic value creation" in a letter to the resinsurer's lead director, following reports in the French media on its collapsed merger talks with Covéa.
Ed hires Simon Stovell as divisional director
Simon Stovell has joined Ed as divisional director for its risk solutions team.
Aspen appoints UK CEO
Clive Edwards will become CEO of Aspen UK and Aspen Managing Agency.
Pool Re CEO predicts greater ILS diversification beyond US property-cat
Julian Enoizi, CEO of UK government-backed terrorism reinsurer Pool RE, has predicted that the insurance-linked securities market will diversify away from US property-catastrophe risks, into other “difficult to insure perils” such as terrorism.
2018 catastrophe loss levels are the new norm: Air Worldwide
The industry can expect to be hit with on average $92bn (£74.5bn) in insured losses from catastrophes annually going forward, according to catastrophe modeling firm Air Worldwide.
Guy Carpenter senior boss fired over 'glazed ring' incident
James Conmy, senior VP for marine and energy at Guy Carpenter, has been fired for gross misconduct after sending a team email that contained sexually suggestive comments about a female member of staff.
David Priebe appointed as Guy Carpenter chairman
Marsh sister company Guy Carpenter has appointed David Priebe as chairman, effective immediately.
Hurricane Dorian estimated to have inflicted $7bn of damage in the Bahamas
Hurricane Dorian inflicted $7bn (£5.7bn) worth of insured and uninsured damage in the Bahamas, catastrophe modelling firm Karen Clark & Company has estimated.
European reinsurers well-placed to absorb cat losses and take advantage of continued price increases: Fitch
The big four European reinsurers are well capitalised to absorb catastrophe losses and build on pricing increases that are expected to continue into next year, Fitch Ratings has said.
Ex-Complete Cover CEOs Allen and Beckett reunite for Markerstudy-backed MGA
The former CEO of Complete Cover Tony Allen has returned to the motor insurance market with a new Markerstudy-backed specialist managing general agent.
Insured losses from Hurricane Dorian estimated to top £20bn
Hurricane Dorian could inflict insured losses of up to $25bn (£20.7bn), according to analysts at UBS.
BoE governor Carney warns insurers over climate change
The Governor of the Bank of England has described climate as a “big, big issue” for general insurers and reinsurers.
Low first-half cat losses give reinsurers temporary respite as Typhoon Jebi losses continue to mount
Below-average catastrophe losses boosted the profits of reinsurers in the first half of 2019, according to Fitch Ratings.
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
Date set for Covéa legal action as Scor CEO hails ‘strong performance’ in H1 2019
Scor’s property and casualty division has seen growth in H1 2019, while legal action against Covéa and its CEO and chairman Thierry Derez will continue in 2020.
Gefion ordered to not expand business until it injects more capital
The Danish Financial Supervisory Authority has ordered Gefion to not expand into new territories.
R&Q and Phoenix terminate insolvent debt joint venture
Randall & Quilter and Phoenix Asset Management Partners have ended a joint venture deal to acquire reinsurance debt in insolvent estates.
Elite shoots for solvent scheme to avoid liquidation
Elite Insurance has proposed a solvent scheme of arrangement, in order to avoid a liquidator being appointed.
Guy Carpenter suspends senior boss following harassment claims
Exclusive: A senior boss at Marsh sister company Guy Carpenter has been suspended over “rude and offensive” comments about a female member of staff.