Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks sets up in London aviation market to drive international growth

Mapfre Global Risks (MGR) is moving into London’s aviation insurance market by appointing former Willis Towers Watson man Oscar Becerra as aviation underwriter in the market. This will be the first time MGR will write aviation business directly from London and continues its strategy of driving international growth from the UK’s capital. Mr Becerra, who joins from Willis Towers Watson,…

Marsh unveils new global management structure and divisions

Marsh unveils new global management structure and divisions

Marsh unveils new global management structure and divisions

Marsh has announced a new global management structure that includes newly-formed Global Placement & Specialties and Global Risk & Digital (GR&D) divisions. The broker has also made new appointments to Marsh International and its executive team. Marsh’s new Global Placement & Specialties division encompasses its insurance placement activities as well as its global industry and practice specialties. Dean Klisura is…

JLT acquires Belgian specialty broker to boost EU platform

JLT acquires Belgian specialty broker to boost EU platform

JLT acquires Belgian specialty broker to boost EU platform

Broker JLT has joined London market insurers in establishing a platform for EU business post-Brexit. JLT said it has acquired Belgian specialty broker Belgibo from EXMAR Group to complement its existing Benelux operations, but also to support its service to clients in all 26 EU states and three European Economic Area states, after the UK has left the EU. Based…

Falling premium rates and competition to hit Lloyd’s, says Moody’s

Falling premium rates and competition to hit Lloyd’s, says Moody’s

Falling premium rates and competition to hit Lloyd’s, says Moody’s

Growing competition combined with tepid economic conditions and a likely reduction in reserve releases will put pressure on premium rates, growth and profitability at Lloyd’s, according to a report by Moody’s Investors Service. The firm says growth could even be sent into reverse in 2017/2018 because of falling premium rates, which have affected many of Lloyd’s’ core business lines including…

Pay-as-you fly drone cover ready for take-off

Pay-as-you fly drone cover ready for take-off

Pay-as-you fly drone cover ready for take-off

The UK’s first pay-as-you-fly drone insurance will be launched later this year by Allianz Global Corporate & Specialty (AGCS). AGCS has partnered with insurtech startup Flock to develop digital insurance products for the growing drones market. The on-demand drone insurance will be accessed by commercial and recreational users through a simple phone app. The so-called Flock Cover app will instantly…

Allianz announces online aircraft insurance partnership with Visicover

Allianz announces online aircraft insurance partnership with Visicover

Allianz announces online aircraft insurance partnership with Visicover

Allianz Global Corporate & Specialty (AGCS) has partnered with award-winning insurtech company, Visicover. Visicover will now offer its existing and new aeroplane and helicopter policyholders insurance products underwritten by AGCS. Visicover is an online-based service that allows customers to buy their insurance online and subsequently self-administer their policies, including renewals. “The aviation industry is undergoing significant change. New technologies are…

Big data and new markets will be key disruptors in transport sector

Big data and new markets will be key disruptors in transport sector

Big data and new markets will be key disruptors in transport sector

Some 43% of transport sector respondents believe big data will be the most significant driver of change, according to an annual survey from Norton Rose Fulbright. The eighth edition of The way ahead transport report reveals that 90% of aviation and 86% of rail respondents are positive about market conditions, compared with 64% and 37% in logistics and shipping respectively.…

New models to help insurers with clash risks

New models to help insurers with clash risks

New models to help insurers with clash risks

Catastrophe modelling firm Risk Management Solutions (RMS) and the Cambridge Centre for Risk Studies (CRS) are developing tools to help insurers standardise exposure data and model clash risks. CRS is creating a set of exposure standards for risks that are currently not well modelled by insurers. These standards could help bring consistency to information supplied by corporate buyers, as well…

MPI Generali launches corporate insurance business in Malaysia

MPI Generali launches corporate insurance business in Malaysia

MPI Generali launches corporate insurance business in Malaysia

MPI Generali Insurans Berhad, a joint venture between Italian insurer Generali and Malaysia-based Multi-Purpose Capital Holdings Berhad, has opened a global corporate and commercial business unit in Malaysia. The new division will provide a range of insurance lines for corporate and commercial clients and distributors in the Southeast Asian state. The unit will operate in segments covering property liability, financial…

Marsh air finance insurance product takes off

Marsh air finance insurance product takes off

Marsh air finance insurance product takes off

Marsh has announced the launch of Aircraft Finance Insurance Consortium (AFIC), which will underwrite a non-payment insurance product for lenders and investors that are funding new aircraft purchases from Boeing. AFIC will provide an alternative aircraft finance insurance product for new aircraft deliveries and is underwritten by four insurance companies: Allianz, AXIS Capital, Sompo International (formerly Endurance), and Fidelis. The…

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