Brokerslink has announced a collaboration with Swiss Re Corporate Solutions on multinational insurance programmes, with the insurer becoming one of Brokerslink’s strategic business partners. The strategic agreement signed by the two companies will see Swiss Re Corporate Solutions develop a dedicated international insurance programme management platform for Brokerslink’s network. The new business platform has been designed by Swiss Re Corporate…
FM Global has announced a number of senior leadership changes in EMEA, Asia-Pacific and the US. This follows the forthcoming retirement of Stefano Tranquillo, who has served as senior vice-president, division manager EMEA/Asia-Pacific for almost 35 years. Phillip Johnson has been appointed senior vice-president, EMEA division manager, and will be based at FM Global’s Luxembourg office. Most recently, he served…
Guernsey-based captive (re)insurer Thames Water Insurance Company Limited (TWICL), which has been in run-off since 2005, has been acquired by DARAG Guernsey from its parent Kemble Water Finance Limited. The share purchase agreement was signed and completed in cooperation with Willis Towers Watson, which will continue to act as captive manager in the future. The captive will be renamed DARAG…
Interbrand has released its Best Global Brands 2019 report, in which Allianz has become the number one insurer on the list, with a brand value increasing from $10.8bn in 2018 to $12.1bn. This is the 20th edition of the brand valuation survey, listing 100 brands. Allianz moved from being ranked 49th overall in 2018 to 43rd in 2019. There are…
Maurice R ‘Hank’ Greenberg, chairman and chief executive officer of Starr Insurance Companies, has told AM Best that although insurtech is entrenched in the insurance industry, he expects many startups to fail. Mr Greenberg told AM BestTV: “I would say about 15%-20% of the ones we have looked at have something to offer. Most of the others I think will…
Private US P&C insurers’ surplus reached a new record of $802.2bn in the first half of 2019, according to data analytics provider Verisk and the American Property Casualty Insurance Association (APCIA). The surplus grew by $60.1bn in 2019, pushed up by insurers’ income and unrealised capital gains as the stock market recovered from a significant downturn at the end of…
The UN Environment’s Principles for Sustainable Insurance (PSI) initiative and the WWF have jointly published the first guide for the insurance industry designed to protect World Heritage sites. The guide, Protecting our World Heritage, insuring a sustainable future, builds on last year’s launch of the first insurance industry statement of commitment to protect World Heritage sites. To develop the guide,…
US healthcare liability insurer MedPro Group has acquired the renewal rights to Swiss Re Corporate Solutions’ (SRCS) US healthcare professional liability book of business. MedPro, a Berkshire Hathaway company, has entered into a definitive agreement with SRCS, effective from 11 October 2019, for the acquisition, which includes hospital and senior care accounts underwritten by SRCS from the US, as well…
International General Insurance Holdings (IGI) is to be publicly listed as a result of a business combination agreement between the insurer and Tiberius Acquisition Corp, a special purpose acquisition company. Under the terms of the agreement, IGI and Tiberius will combine under a new holding company to be domiciled in Bermuda – International General Insurance Holdings Limited, Bermuda. The transaction…
