Markets
To Merge or Not to Merge: InsurTechs Must Increasingly Ask This Question
The drumbeat for InsurTechs to pursue a merger, acquisition or partnership is getting louder, with the number likely to substantially grow in the months ahead, an insurance industry expert believes. ...
Hiscox Appoints Former Hamilton Executive Reardon as CEO of Hiscox Re & ILS
Hiscox Ltd., the international specialist insurer, announced the appointment of Kathleen Reardon as chief executive officer of Hiscox Re & ILS, subject to regulatory approval. Reardon succeeds ...
OxyContin Maker Purdue to Plead Guilty Over Opioid Practices
Purdue Pharma LP agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that effectively sidestepped paying ...
Six Insurers Drop UK Court Appeal Over COVID-19 Payout Ruling on Three Policies
Six insurers have decided not to appeal against a London High Court ruling that they were wrong to reject claims from holders of three business interruption insurance policies who have been pushed to ...
A Majority of Risk Managers Now Buy Cyber Insurance: Survey
Approximately 78 percent of risk managers now purchase some level of cyber insurance, up from 34 percent in 2011, according to the tenth year of the Zurich North America and Advisen Cyber Survey. Of ...
Swiss Re CEO Mumenthaler: InsurTech ‘Disruption’ Overhyped, China Ahead of the Pack
InsurTechs used to launch insisting they were insurance industry disruptors bringing new ways to bypass traditional players in bringing coverage to consumers. In reality, Swiss Re Group CEO Christian ...
InsurTech Convr Launches Underwriting Tool for Commercial Carriers
InsurTech Convr has launched a new underwriting insights tool that includes a COVID-19 management dashboard. The Illinois-based startup, formerly known as DataCubes, said that Convr Insider provides ...
Munich Re Reports Over $900M 3Q COVID Losses; Expects Harder Market
Ahead of a scheduled Nov. 5 quarterly earnings report, Munich Re announced that its COVID-19 losses for the third quarter total €800 million (roughly $940 million) and that non-COVID large losses ...