QBE North America appointed Dan Fortin and Todd Greeley as the heads of its financial lines business. They both were former underwriters in Berkshire Hathaway Specialty Insurance Inc. QBE NA said that it aims to expand its Management Liability, Professional…
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SEC awards $114M to an anonymous whistleblower
The Securities and Exchange Commission recently announced that it has awarded more than $114 million to an anonymous whistleblower. The SEC, which does not identify whistleblowers, said the award consists of about $52 million in connection with the SEC case,…
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Cytora Shifts to the Permanent Remote-First Working Culture
Insurtech Cytora, specialized in simplifying underwriting for commercial insurance is moving to remote-first working permanently. The employees can work from any location of their choice and are not constrained to a physical office. The firm will be collecting feedback from…
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Argo to sell Ariel Re to Stanard’s Pelican and JC Flowers
Underwriter of specialty insurance and reinsurance products, Argo Group International Holdings, Ltd. announced an agreement to sell its reinsurance business, Ariel Re, to Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise. The closing…
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Premium Credit Research Shows 51% of SMEs Cut Back on Business Insurance Policies
Due to the continuing Covid-19 pandemic, more than half of SMEs have stopped paying for a range of business insurance policies. Business property cover, professional indemnity, and cyber insurance were the lines SMEs commonly excluded. Employers’ liability insurance was the…
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Adrien Couret Joins the Scor Board of Directors
SCOR announced its decision to co-opt Adrien Couret, Chief Executive Officer of the Macif group, as a Director. The decision was made in the SCOR Board of Directors meeting held on November 5, 2020. This follows Jean-Marc Raby’s resignation from…
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Swiss Re Reports 9-month Net Loss Amid the Pandemic
Reinsurance company Swiss Re reported a small net loss in the first nine months after booking claims and reserves of $3 billion related to COVID-19. The company said that the loss is less than expected. Insurers worldwide are facing large…
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RSA’s UK Premium Shrinks due to Covid Impact
RSA’s UK and international premium shrank 6% to £1.99bn this year, as revealed by the insurer in its third-quarter statement. The insurer stated that the shrinkage would only be 2% if it were not for Covid. RSA has also launched…
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PIB Group and Ageas announce £40m GWP deal
Broker PIB Group has confirmed a five-year agreement with insurer Ageas to write its tenant risk scheme. Ageas will underwrite the scheme, which offers bespoke cover, wide acceptance criteria, and flexible payment options for social housing tenants in England, Scotland,…
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Brown & Brown Acquires CoverHound Platform
Brown & Brown Inc. said in a statement that it has acquired substantially all of the assets of online insurance platform CoverHound Inc., including its wholly-owned subsidiary CyberPolicy. The terms of the transaction were not disclosed. The statement said that…
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