Reinsurance
Online betting operator gains license to establish its own insurance company
Online betting operator, Lottoland, has established its own insurance company, Fortuna Insurance, in order to insure its own risks.
Cvrd rebrands to Nimbla and sets launch date
Insurtech start-up Cvrd has rebranded to Nimbla and plans to launch in October this year.
Blog: ILWs for cyber
Industry loss warranties could play a bigger role in cyber as it becomes a long-tail risk, explains Tom Johansmeyer, assistant vice-president at Verisk Insurance Solutions
Analysis: Connected risks require joined-up thinking
Faced with events that cascade from one risk class to others, insurers need to review their underwriting strategies.
Intangible risk cover is the future says Pool Re CEO
The future of insurance cover lies in intangible risks, a conference of claims professionals has heard.
Maria industry losses could total $85bn
Industry insured losses for Hurricane Maria in the Caribbean will be between $40bn and $85bn, according to AIR Worldwide.
Ogden reform could see fewer shocks to industry
Ogden reform could see fewer shocks from discount rate changes in future, AM Best said.
EU and US sign covered agreement
The European Union and the United States has today signed the so-called covered agreement on prudential reinsurance measures.
Ed appoints Minesh Jani as CEO of MENA and Indian business
Ed Broking has appointed Minesh Jani as CEO of Middle East and North Africa, India and Indian sub-continent.
Munich Re warns on Q3 loss following Harvey and Irma
Reinsurance giant Munich Re has said it could miss its full year 2017 profit target as a result of extensive damage from hurricanes Harvey and Irma.
Insurance growth to drive infrastructure resilience boom: World Bank CFO
Insurance sector efforts to boost coverage in both developed and undeveloped markets has the potential to create more resilient infrastructure and mitigate risks, the World Bank’s chief financial officer has said.
Global firms launch blockchain prototype for reinsurance transactions
The Blockchain Insurance Industry Initiative, B3i, will begin market beta-testing of its reinsurance blockchain prototype for reinsurance transactions.
Reinsurers ‘living off the past’ says AM Best executive
"Concerning" negative trends within the non-life reinsurance market have been hidden by loss reserve development, an AM Best executives has said.
Harvey highlights insurance penetration shortfall says Aon Benfield
A significant proportion of the flood losses generated by Hurricane Harvey in Texas and Louisiana will be uninsured, highlighting the existence of a global protection gap, Aon Benfield has said.
Reinsurance role at an ‘inflection point’ for disaster relief: WTW CEO
The global reinsurance sector is at an inflection point in how it is utilised by the humanitarian sector, according to Willis Towers Watson’s CEO of capital science and policy.
Catlin calls for industry cooperation on tackling protection gap
Industry veteran Stephen Catlin has called on the reinsurance and insurance sector to cooperate and work together in closing the protection gap.
Prejudice against insurance driving protection gap, says Swiss Re CEO
A lack of understanding of insurance and prejudice against the sector is hampering progress in closing the protection gap said, Swiss Re’s CEO.
Insurers must rethink risk management: Aon
The insurance sector needs to rethink its approach to risk management in order to drive innovation and take advantage of technological change, said Aon's global CEO of analytics.
Sciemus to rebrand after securing investing partnership
Specialty Lloyd’s managing general agent Sciemus is set to rebrand after securing an investing partnership with HSCM Bermuda.
AIR pegs Irma insured losses at $20bn-$65bn
Hurricane Irma could result in insured losses of $20bn to $65bn, according to a preliminary estimate from AIR Worldwide.
Ogden decision to curb reinsurance pricing rises
Reinsurance pricing will only increase modestly at January renewals as a result of the government’s Ogden announcement.
Harvey unlikely to drive ratings downgrades
Hurricane Harvey is unlikely to trigger ratings downgrades for property and casualty insurers and reinsurers, said Fitch Ratings.
Economic losses from Harvey could top $90bn
Economic losses caused by wind, storm surge, and inland flooding from Hurricane Harvey could be as high as $90bn (£69.6bn), according to data from risk modelling firm RMS.
Consortium acquires Canopius from Sompo for $952m
Canopius has been acquired by a private equity consortium led by Centerbridge Partners and including the private investment firm Gallatin Point Capital for $952m (£736.5m).