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Insurers bet on reinsurance in unexpected U-turn

Having given up on reinsurance in recent decades, some large insurers have had a change of heart as they seek diversification and the access to the capital markets which reinsurers have developed in recent years. Is their bet that they can handle these volatile risks—and that their shareholders will back them—a risky one? Intelligent Insurer investigates.   14 May 2018

Insurance

Standard Syndicate taps London Market for head of claims

Charles Taylor-managed Standard Syndicate 1884 has appointed London Market expert Paul Crockford to the role of head of claims.   10 May 2018

Insurance

Weinstein fights Chubb in court

Film producer Harvey Weinstein is fighting back against Chubb, demanding that the personal indemnity insurer must pay for his legal defense against 11 lawsuits that accuse him of sexually harassing or assaulting women over the past three decades, according to a Reuters May 8 report.   9 May 2018

Insurance

Lloyd’s directs underwriters to withdraw from NRA programmes

The Lloyd’s Corporation has decided to direct underwriters in the market to terminate any existing programmes involving the National Rifle Association of America (NRA).   9 May 2018

Insurance

Gallagher acquires UK regional commercial insurance broker

Broker Arthur J Gallagher is acquiring UK regional commercial insurance broker Risk Services based in Chester.   9 May 2018

Insurance

April storms cause $2.3bn damage in US

Five separate storm systems spawned severe thunderstorms across the US in April leading to $2.3 billion in economic damage across the country, according to Aon’s latest Global Catastrophe Recap report.   9 May 2018

Insurance

Aon CEO sees cyber losses more than double

Aon CEO Gregory Case expects new regulation to more than double reported cyber losses.   9 May 2018

Insurance

Sompo advances European expansion with Luxembourg unit

Bermuda-based property and casualty re/insurer Sompo International Holdings (SIH) has completed the integration of Sompo Japan Nipponkoa Insurance Company of Europe (SJNKE) on May 1 with SJNKE becoming a wholly-owned subsidiary of SIH.   8 May 2018

Technology

MGAs: the new breed of insurtech firms

Managing general agents are partnering with insurtech firms—a trend that could transform the sector and the very nature of MGAs, Peter Staddon, managing director of the Managing General Agents’ Association, tells Intelligent Insurer.   4 May 2018

Insurance

Liability, professional and speciality lines boost Argo in Q1

Argo Group posted strong growth in the first quarter of 2018 driven by its liability, professional and speciality lines in both its US and international books of business. Its profits dipped slighted because of higher expenses and changes in the value of its equity securities.   4 May 2018

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