Allianz

AGCS said fire and explosion incidents have caused the most expensive insurance claims in the marine industry, while cargo damage is the most frequent cause of loss.

William Mills was most recently group head of ceded reinsurance and third-party capital at Allianz.

Thorsten Fromhold has been appointed to the new role of chief group reinsurance buyer.

Lack of exposure and extensive reinsurance protection meant Hurricane Ian was “not a big event”.

The business unit has posted strong profits following a period of underwriting remediation.

The carrier also appointed Sam Bartram as regional head of marine, and Trent Cannings as regional head of energy and construction.

The company has promoted Mark Whayling, who has worked for AGCS for five years.

After a widespread drop in InsurTech funding, all signs point to a period of M&A among InsurTechs either struggling to raise funding or seeking a partnership with an incumbent.

Innovation Group specialises in business process and claims management solutions and will continue to operate independently.

The third-party business brings in around EUR1.8bn ($2bn) of Allianz Re’s portfolio.

The digital investments arm of Allianz Group has been a strategic investor in the Berlin-based InsurTech since 2016.

Charles Tinworth and Abigail Paterson are set to join the property team as senior underwriter and underwriter, respectively.