Articles

Insurance

RMS puts Hurricane Dorian US insured losses in $500m-$1.5bn range, total losses in $4bn to $8.5bn range

Hurricane Dorian will cost insurance losses of between $500 million and $1.5 billion in the US, much less than some had estimated.   16 September 2019

Alternative Risk Transfer

Risk trading insurtech AkinovA donates ILS assets to insurance standards-setting body ACORD

AkinovA, an electronic marketplace for the transfer and trading of re/insurance risks, has donated some insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the insurance industry.   16 September 2019

Insurance

AXA XL promotes trio to grow UK book of business

Re/insurer AXA XL has made a number of appointments in its UK client and distribution team, based in London.   16 September 2019

Insurance

House of Insurtech launches underwriting-as-a-service platform

London-based House of Insurtech has launched a new cloud-based 'underwriting-as-a-service' platform, called Insurforce, that aims to lower administration cost, and increase flexibility for insurers, MGAs and brokers.   16 September 2019

Insurance

Lloyd's managing agent Vibe shuts A&H and property D&F units blaming tough market

Lloyd's managing agent Vibe Syndicate Management has closed its accident & health (A&H) and property D&F business units with immediate effect, citing "difficult market conditions".   16 September 2019

Insurance

IFRS 17 still beset by some uncertainties, says AM Best

Ratings agency AM Best has highlighted concerns about further amendments being proposed to the International Accounting Standard, IFRS 17, which seeks to reflect market values in the published financial statements of insurers.   16 September 2019

Insurance

AIR Worldwide pegs typhoon Faxai insured losses between $3bn and $7bn

Catastrophe risk modelling firm AIR Worldwide estimates that industry insured losses from Typhoon Faxai, which made landfall in Japan on September 9, will be between JPY 340 billion ($3 billion) and JPY 740 billion ($7 billion).   16 September 2019

Insurance

RSA appoints new CEOs of Ireland and Scandinavia

RSA Insurance Group has appointed Kevin Thompson as the new chief executive of its Irish business, RSA Ireland, replacing Ken Norgrove who is moving to the role of CEO of Codan/Trygg-Hansa, the company's Scandinavian business.   16 September 2019

Insurance

DXC Technology appoints new chief executive officer to lead next phase of growth

DXC Technology, a London insurance market service provider, has appointed Mike Salvino as its new president and chief executive officer (CEO).   16 September 2019

Insurance

Neon group CEO Martin Reith steps down, hands reins to Theo Butt

The group chief executive officer (CEO) of specialist Lloyd's insurer Neon, Martin Reith, is stepping down from his executive roles on September 30. He will remain a member of the Neon Underwriting (NUL) board of directors.   16 September 2019

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