Industry News
Natural Catastrophes Knock Down Munich Re’s Q4 Net Profit by 56 Percent
German reinsurer Munich Re on Wednesday reported a 56 percent decline in fourth quarter net profit after a spate of natural catastrophes but proposed raising its dividend for 2018. Net profit fell to ...
The Latest Launches From Beazley and Sompo International
Beazley has combined its cyber and executive risk capabilities into a new division. Sompo Global Risk Solutions (GRS) will offer specialized property and liability protection to U.S. banks and ...
Chubb’s Q4 Net Income Nosedives; Investment Returns Surge, Premium Revenue Grows
Chubb's 2018 fourth quarter was a mixed bag, with a surge in catastrophe losses, but a growth in premium revenue, better global P/C pricing and record net investment income. The insurer booked $355 ...
Ex-QBE Exec Duclos Named Non-Exec Chairman of Lloyd’s Global Network
Lloyd's appointed David Duclos, a veteran executive of QBE North America and XL Group, to be the new non-executive chairman of the Lloyd's Global Network. In this role, Duclos is charged with playing ...
Hiscox, Chubb Among Investors With CoverHound’s New $58M Series D Financing
Multiple carriers participated in CoverHound's new $58 million Series D financing, money the online insurance comparison shopping platform plans to use to fuel global expansion. Hiscox led the round, ...
SCOR’s CEO Counters Angry Investors With Promises of New Strategy
French reinsurer Scor's Chief Executive Denis Kessler promised on Tuesday to release a strategic plan that would set new targets for the company, in a move to assuage an activist fund that questioned ...
Ex-Swiss Re Exec Will Grow AXIS Re’s Strategic Partners Division Into North America
AXIS Re said it is expanding its AXIS Re Strategic Partners division into North America, and is bringing on a former Swiss Re executive to carry out the move. AXIS Re, the reinsurance business ...
Insurers Struggle to Keep Up With Sharing Economy Demands
As more and more consumers click for services and borrow rather than buy, the sharing economy is benefitting. According to Harvard Business Review, the sharing or on-demand economy is attracting more ...