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Insurtech Boost raises $14mn to launch new products

News

Capital

Insurtech Boost raises $14mn to launch new products

Boost Insurance - which is reinsured by Markel, RenaissanceRe and Nephila - has announced a $14mn series A round of financing to expand the insurtech MGA’s infrastructure-as-a-service (IaaS) platform.

Wed 5 Feb 2020

News

Insurance comparison site The Zebra raises $38.5mn

The Zebra has raised $38.5mn in a Series C funding, bringing the auto and home insurance comparison marketplace’s total capital raised to over $100mn.

Wed 5 Feb 2020

Hanover “very comfortable” with reserves after mitigation moves

News

Liability

Hanover “very comfortable” with reserves after mitigation moves

The Hanover is “very comfortable” with its level of reserves and confident it is on top of the claims inflation that has taken hold in certain segments of the US commercial insurance market.

Wed 5 Feb 2020

News

Former Marsh LatAm finpro head establishing new broker

The former head of Marsh FinPro & FI for Latin America is launching a new London-based broker called Amthor Risk Partners which is targeting business from the region.

Wed 5 Feb 2020

News

Aviation

Risk Strategies buys aviation broker Transport Risk

Privately-held broker Risk Strategies has acquired Colorado-based aviation specialist Transport Risk Management.

Wed 5 Feb 2020

Chubb shares rise over 7% as Greenberg downplays loss trends

News

Casualty

Chubb shares rise over 7% as Greenberg downplays loss trends

Chubb chairman and CEO Evan Greenberg has dismissed D&O loss trends as “an old story”, while providing detailed feedback on the price increases the insurance giant is obtaining.

Wed 5 Feb 2020

News

Second talent to PPL for e-placement build out: Masojada

Chair of Placing Platform Limited and CEO of Hiscox, Bronek Masojada, has urged industry players to send their employees to work on building PPL’s electronic placement technology.

Wed 5 Feb 2020

Medmal pricing starting to exceed claims inflation: Markel

News

Casualty

Medmal pricing starting to exceed claims inflation: Markel

Markel has seen an uptick in its medical professional liability rates that indicates pricing in the segment is finally matching up with the rising cost of claims, co-CEO Richard Whitt has said.

Wed 5 Feb 2020

Several Floridians close to exhausting Irma cat covers: RenRe

News

Property catastrophe

Several Floridians close to exhausting Irma cat covers: RenRe

A number of Florida domestic carriers are now close to exhausting their 2017 private market cat covers after further significant creep on Hurricane Irma losses, according to RenaissanceRe CEO Kevin O’Donnell.

Wed 5 Feb 2020

News

BP Marsh reassures on 2019 performance despite LEBC drag

Specialist UK insurance investor BP Marsh said today it expects to see a “positive performance” for the financial year ending 31 January 2020 despite the drag from one of its largest investments, the Scottish-headquartered IFA LEBC.

Wed 5 Feb 2020

News

Space

Satellite market avoids Spaceway 1 loss

Beleaguered underwriters in the niche satellite insurance market look set to avoid losses as a result of difficulties with Spaceway-1, The Insurer understands.

Wed 5 Feb 2020

Hiscox to swerve Coronavirus contingency losses as market begins excluding risk

News

COVID-19

Hiscox to swerve Coronavirus contingency losses as market begins excluding risk

London-listed Hiscox has revealed it doesn’t have “any significant exposure” to potential Coronavirus-related contingency losses as underwriters of the class begin excluding the virus from event cancellation policies, The Insurer understands.

Wed 5 Feb 2020

News

Energy

Renewable energy market at tipping point: WTW

Faced with deteriorating loss ratios and increasing costs, the renewable energy insurance market seems to have come to a tipping point as truly hard market conditions have emerged during the course of the last year, according to Willis Towers Watson (WTW).

Wed 5 Feb 2020

News

Cyber

Axa XL names former Beazley underwriter Benet as cyber CUO

Axa XL has appointed Elizabeth (Libby) Benet to the newly created role of global chief underwriting officer.

Wed 5 Feb 2020

News

Loadsure granted Lloyd’s coverholder approval

London-based insurtech MGA Loadsure has been granted Lloyd’s coverholder approval – with support from ArgoGlobal – and launched a digital product covering the US spot freight market.

Wed 5 Feb 2020

Comment

Casualty

Chasing tail

Casualty has for a long time been identified as the next frontier for the ILS market.

Wed 5 Feb 2020