News

Insurance

Commercial insurance rates climb further

Commercial insurance pricing increased for the fourth consecutive quarter in the third quarter of 2018 by more than 1 percent, driven by property and financial and professional lines, according to the most recent Global Insurance Market Index compiled by Marsh.   22 November 2018

Insurance

Aviva takes majority stake in Munich Re-backed insurtech Neos

UK insurer Aviva is acquiring a majority stake in connected home insurer Neos Ventures, a London-based insurtech startup backed by Munich Re.   22 November 2018

Insurance

Re-launching Folgate Insurance assigned B rating by AM Best

AM Best has assigned a Financial Strength Rating (FSR) of B (Fair) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “bb+” to UK-based Folgate Insurance Company. The outlook assigned to these Credit Ratings (ratings) is stable.   22 November 2018

Insurance

Mapfre invests €25m in insurtech venture fund

Spanish re/insurer Mapfre is investing €25 million in Alma Mundi Insurtech Fund that focusses on startups in the insurance sector.   21 November 2018

Insurance

JLT Re CEO steps down

Mike Reynolds, CEO of JLT Re has stepped down from his position.   21 November 2018

Insurance

Generali to invest €1bn in digital innovation

Italian insurer Generali wants to invest around €1 billion in internal strategic initiatives for innovation and digital transformation as part of its 2021 three-year strategic plan.   21 November 2018

Insurance

Arch appoints new international CEO, reshuffles leadership

Arch Insurance has appointed Hugh Sturgess as the new CEO of Arch Insurance International, succeeding Matt Shulman who was recently named CEO of Arch Insurance North America.   21 November 2018

Insurance

Insurers’ exposure limited in PG&E wildfire investigation: AM Best

The US insurance industry has only limited exposure to PG&E Corporation, the California utility whose equipment is being investigated as having a potential role in the deadly Camp Fire, according to AM Best.   21 November 2018

Insurance

China non-life margin pressure lingers: Fitch

Fitch Ratings sees ongoing pressure on underwriting margins and expects catastrophe claims to continue to undermine insurers’ operating stability.   21 November 2018

Insurance

Catlin syndicate 2003 outlook changed to negative

Syndicate Research Limited (SRL) has affirmed the A- (Good) Continuity Opinion of Lloyd's syndicate 2003 but has changed the outlook for the Continuity Opinion from stable to negative in light of the syndicate’s recent 5-year average performance relative to its Continuity Opinion peer group.   21 November 2018

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