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June 2017/4

  • Amlin-owned insurance-linked securities (ILS) manager Leadenhall's support of InsurTech life insurance start-up Gryphon Group Holdings is connected to a reinsurance transaction, Trading Risk reported.
  • Swiss Re expanded its Sector Re sidecar to $492mn midway through 2017 to increase its retro support from the vehicle by $100mn in the past year, sister publication Trading Risk revealed last week.
  • With the current pricing environment leaving little room for P&C (re)insurers to boost their profits, expense management has become an increasingly popular strategy for widening margins.
  • P&C (re)insurers benefited from another quarter of low catastrophe loss levels, with the only large cat events occurring in the US.
  • JLT Specialty is the broking firm held in the highest regard by political violence underwriters, according to a study of the terrorism insurance market by The Insurance Insider's rankings team.
  • Top US cyber writers shifted from packaged policies towards standalone cover as the segment's top line grew last year, according to AM Best.
  • AIG has piloted a multinational blockchain-based policy for Standard Chartered Bank in the first major use of the much-vaunted technology in the global (re)insurance industry.
  • Illinois, a state with $11bn in unpaid bills, may be on the verge of creating the first state-financed workers' compensation insurance system to be set up in decades.
  • Argentina's Superintendent of Insurance Juan Pazo has detailed plans to reopen his country's market to foreign-owned admitted reinsurers at the 1 July renewals.
  • Icat gets multiple offers; Aston Scott nears Lark deal; R&Q sells managing agency; Mitchell joins MS Amlin; Allianz to book loss on bank sale; Anthem data breach settlement; KIRS formed as pair of M&A deals complete; ABI flammable cladding warning; US cyber premiums rise 35%; Kaikoura quake claims double
  • Statutory data for the Texas personal auto market has provided strong evidence of the challenging conditions facing carriers in the space, which are also driving a number of reinsurers away from the business.
  • Any insurance claim stemming from the fraud allegations faced by UK banking giant Barclays would probably fall to the London directors' and officers' (D&O) market, The Insurance Insider understands.
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