Reinsurance
No Post-Brexit Big Capital Reduction Requirements for UK Insurers: Bank of England
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be "part of the answer" to meeting a 1.7 billion ...
Startups Focused on Data Observability, Digital Wallet Tech and Risk Management Obtain Financing
Tech startup Monte Carlo raised $25 million in new Series B financing to help build its Data Observability platform. New York-based InsurTech Marble raised $2.5 million in early-stage funding that ...
P/C Insurer Net Income Plunged 27% Through September 2020, Pushed by Catastrophes
U.S. property/casualty insurance net income dropped by more than a fourth in the first nine months of 2020 as the industry was hammered by COVID-19 and an historic catastrophe season, according to a ...
Bermuda-Based Specialty Insurer Mosaic Debuts; Company Includes Lloyd’s Syndicate
Mosaic, a Bermuda-based global specialty insurer, has launched operations in Bermuda, London, the United States and Asia, along with a newly formed Lloyd's syndicate. Operating with initial ...
Irish Court Backs Four Irish Pubs Over COVID Lockdown Insurance Claims
Ireland's High Court ruled on Friday that four publicans insured by FBD were entitled to be indemnified for losses under lockdown-linked claims, in a test case that could have implications for over ...
Executives On The Move At AXA XL and AXIS Re
A former Munich Re executive joined AXA XL in a leadership role involving reinsurance sales in Latin America. Another ex-Munich Re executive signed on with AXIS Re as a Senior Underwriter for its ...
Property Cat Bond Placement Reaches Record in 2020 and Q4: Aon
Approximately $11 billion of property cat bond limit was placed in 2020, the highest on record, according to a new Aon report that projects the growth momentum will continue in 2021. While the year ...
Argo Faces $51M in Estimated Q4 COVID-19, Natural Catastrophe Losses
Argo Group International Holdings Ltd. estimates losses from fourth-quarter 2020 natural catastrophes and the COVID-19 pandemic will hit $51 million. Breaking down the overall total, Bermuda-based ...