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News

Insurtech Inzura.ai secures £1mn in fundraising

UK-based insurtech Inzura.ai has raised £1mn ($1.3mn) in its latest funding round, following a seed investment of $1mn January 2018.

Thu 13 Jun 2019

Pioneer hires Willis Re’s Souter for head of capital role

News

People Moves

Pioneer hires Willis Re’s Souter for head of capital role

Pioneer has appointed Andrew Souter as head of capital.

Thu 13 Jun 2019

News

PartnerRe in $500mn refinance

Bermudian PartnerRe has become the latest major carrier to seek to refinance with a $500mn 10 year debt offering.

Thu 13 Jun 2019

News

Property catastrophe

CEA renews flat and looks to reduce reliance on reinsurance

The California Earthquake Authority’s recent renewal of a $1.1bn segment of its giant $8.3bn risk transfer programme priced flat as the residual insurer pledged to continuing pursuing legislative reforms for alternative funding to reduce its reliance on reinsurance and redirect resources to mitigation efforts.

Thu 13 Jun 2019

5-year NFIP extension clears key House committee

News

Flood

5-year NFIP extension clears key House committee

The US House of Representatives financial services committee has passed a measure that would extend the National Flood Insurance Program (NFIP) for five years.

Wed 12 Jun 2019

D&O displaying discipline, but not yet a hard market

Analysis

D&O

D&O displaying discipline, but not yet a hard market

US D&O insurers are showing a new-found willingness to walk away if their price increase demands are not met, while the increasing cost of defending claims is putting lower excess insurers in the burn layer more.

Wed 12 Jun 2019

News

Large claim frequency climbs for reps and warranties insurance: AIG

An increasing frequency of large claims combined with softening rates and broadening terms and conditions are presenting challenges for underwriters in the representations and warranties market, according to AIG.

Wed 12 Jun 2019

News

Fears of Lloyd’s harassment survey manipulation arise as deadline looms

A survey being carried out by the Banking Standards Board (BSB) on behalf of Lloyd’s in the wake of allegations of sexual misconduct in the marketplace is open to the general public, with questions arising over the authentication of participants as well as doubts over the results being unfairly influenced, The Insurer can reveal.

Wed 12 Jun 2019

Deloitte names Buesnel head of UK insurance

News

People Moves

Deloitte names Buesnel head of UK insurance

Big-four accountancy firm Deloitte has appointed Clive Buesnel as head of UK insurance, after four years as the firm’s global head of reinsurance.

Wed 12 Jun 2019

AIG explores another multi-billion new reinsurance deal

News

Casualty Reinsurance

AIG explores another multi-billion new reinsurance deal

Global insurer mulls another new liability reinsurance deal with broker RFP process set to get underway

Wed 12 Jun 2019

Tesla to make acquisition before launching Markel-fronted insurance product

News

Personal auto

Tesla to make acquisition before launching Markel-fronted insurance product

Elon Musk has revealed that electric car maker Tesla will launch its new insurance product, to be fronted by State National, once it completes an acquisition.

Wed 12 Jun 2019

News

Beazley reinsures surety bond insurer Trident

Trident Insurance Group has placed a reinsurance treaty with Beazley to enable it to expand its surety products by offering its clients increased bonding capacity.

Wed 12 Jun 2019

News

L&G Re launches blockchain platform for pension liability

Personal lines carrier Legal & General has developed a world-first blockchain platform for pension risk transfer (PRT) business through its reinsurance arm, L&G Re.

Wed 12 Jun 2019

Unicorn expands property offering with Edwards hire

News

People Moves

Unicorn expands property offering with Edwards hire

AmWINS’ London-based MGA Unicorn Underwriting has hired Matt Edwards as lead underwriter, property specialty as it seeks to expand its offering in the space.

Wed 12 Jun 2019

News

People Moves

Coalition hires former Aon Affinity CUO

Swiss Re and Argo-backed cyber MGA Coalition has hired Brian Specht, former chief underwriting officer of Aon Affinity in the US, as head of affinity.

Wed 12 Jun 2019

News

Fairfax Financial seeks to refinance with $500mn 10-year debt issuance

Fairfax Financial, the owner of (re)insurers Allied World and Brit, has issued CAN$500mn ($376mn) in 10-year senior debt, a move aimed at refinancing the firm’s outstanding debt and bolstering its cash position for future acquisitions.

Wed 12 Jun 2019