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…
Chubb has upgraded its cyber risk tool with new features to allow businesses to identify global cyber threats. The Chubb Cyber Index, first launched last year, also features cost analysis, insights on cyber insurance limits and deductibles, as well as an incident cost calculator to estimate losses, including the price of response services. Chubb said the tool gives business real-time…
AXA is planning the sale of its central European business as the insurer looks to quit markets where it lacks scale, reports Reuters, citing sources close to proceedings. One source told the news agency: “AXA plans to sell its businesses in Poland, the Czech Republic and Slovakia.” The source added that “teasers” (information packs) have been sent to potential suitors.…
The Institute of International Finance (IIF), a group of 450 financial companies worldwide, has recommended that policymakers, regulators and supervisors promote the development of a common standard lexicon and taxonomy for cyber risk with involvement from both the industry and public sector, which would help policyholders better understand and compare the cover on offer. The IIF, whose membership includes the…
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…
