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During the April 1 reinsurance renewals, rate reductions ranged from flat to mid-single digit reductions compared to a low double digit range seen 12 months ago, broker Willis Re said in its report titled Willis Re 1st View April 1, 2017. 3 April 2017
Insurance
Artificial intelligence (AI) and the internet of things (IoT) accounted for almost half of total investment in insurtech startups globally in 2016, according to consultancy firm Accenture. 31 March 2017
Insurance
Lloyd’s of London reported underwriting losses in all classes in the accident year 2016, driving the management to take action to improve underwriting quality and expenses. 31 March 2017
Insurance
A California jury has dismissed the poaching claims made by re/insurance broker Aon, and ruled in favour of insurance brokerage firm Alliant Insurance Services. 31 March 2017
Insurance
Senior vice president at Guy Carpenter, Keith Riley, has stepped down from his role and has entered retirement. 31 March 2017
Insurance
Marsh & McLennan Companies (MMC) has appointed Keith Walsh as the chief financial officer (CFO) of Marsh with effect from May 1, 2017. He will be based in MMC's New York headquarters, and report to the chairman of risk and insurance services Peter Zaffino, and to MMC CFO Mark McGivney. 31 March 2017
Insurance
The Hartford, a US-based property/casualty insurance firm, has appointed Morris Tooker as the head of its middle market segment that offers multiline commercial insurance coverages for midsize and larger businesses. 31 March 2017
Insurance
US-based Ryan Specialty Group (RSG) has announced that it has reached a definitive agreement to acquire all the assets of managing general agency (MGA) LoVullo Associates, a wholesale insurance brokerage and binding authority operation based in New York. 31 March 2017
Insurance
The Insurance Council of Australia (ICA) said that Tropical Cyclone Debbie triggered 7,500 claims and that insurance losses could reach into the hundreds of millions of dollars as householders and businesses return to their properties and lodge claims. 31 March 2017
Insurance
Everest Insurance, a subsidiary of Bermuda-based Everest Re Group, has expanded its inland marine team with the hiring of Tom Warner, Mike Lewis and Timothy Janeway. 30 March 2017
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