News
Insurance
DUAL, the underwriting arm of Hyperion Insurance Group, has overhauled its leadership team hiring a new chief executive. It said the move has been prompted by a desire to grow in the UK and internationally. 4 July 2018
Insurance
Intrepidus Insurance Services, a Bermuda insurance broker, has had its registration to operate revoked by the Bermuda Monetary Authority (BMA) following an investigation triggered by a complaint against the company. 4 July 2018
Insurance
Rating agency AM Best has downgraded the financial strength ratings of AmTrust Financial Services’ insurance units to ‘A-’ from ‘A’. They were previously under review with negative implications. 4 July 2018
Insurance
The Bermuda market passed the tests of 2017, which took the form of heavy losses triggered by large catastrophe claims, with flying colours, according to the CEO of The Association of Bermuda Insurers and Reinsurers (ABIR), speaking in relation to the results of its annual survey and report. 4 July 2018
Insurance
Israel-based insurtech start-up Planck Re, an artificial intelligence (AI) driven commercial insurance data platform, has raised $12 million Series A in its first funding round. 4 July 2018
News
Broker Ed has hired Souvik Goswami in its Dubai office to lead its treaty business across the Middle East and North Africa (MENA), as well as India and the Indian sub-continent. 4 July 2018
Insurance
Mitsui Sumitomo Insurance Company Europe (MSIEU), a wholly owned subsidiary of MSI, has concluded strategic alliance agreements with ICEA LION General Insurance Company in Kenya, and International Commercial and Engineering Seguros (ICE) in Mozambique. 4 July 2018
Insurance
Marsh & McLennan Agency (MMA), the middle market agency subsidiary of Marsh, has acquired Klein Agency, a St. Paul, Minnesota-based surety and property/casualty agency specialising in the construction industry. 4 July 2018
Insurance
Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined, according to Willis Re. 2 July 2018
Alternative Risk Transfer
Sponsors and investors showed continued interest in ILS last year, with record-breaking issuance and over $12 billion of new capital brought to market, and the Bermuda Stock Exchange reinforced its position as the ILS listing venue of choice, as BSX president and CEO, and chairman of ILS Bermuda, Greg Wojciechowski explains. 28 June 2018
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