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Telematics start-up targets $100mn in capital raise
The team behind telematics MGA Insure the Box are planning to launch a new insurance vehicle with its own balance sheet that will initially target the UK motor market, The Insurance Insider can reveal.
Adam McNestrie
,
27 November 2017
Chubb announces cooperation deal with PICC
Chubb has struck a strategic cooperation deal with PICC P&C Company of China to take advantage of the Chinese government's "Going Out" and "One Belt One Road" initiatives
Charlie Thomas
,
27 November 2017
Heritage gets green light to acquire Narragansett
Expansive homeowners' insurer Heritage Insurance Holdings has secured regulatory approval from the insurance division of the Rhode Island department of business regulation to proceed with its acquisition of NBIC Holdings, the parent company of Narragansett Bay Insurance Company.
Charlie Thomas
,
27 November 2017
QBE US unit slapped with $750,000 fine in New York
A US unit of global insurer QBE must pay a $750,000 fine to New York State after regulators said the carrier failed to follow rules covering certain types of group policies it sold to dozens of post-secondary schools.
Ted Bunker
,
27 November 2017
Perils puts Ophelia losses at $72mn
Catastrophe data company Perils has estimated that Ophelia, a freak Atlantic cyclone that smashed into Ireland on 16 and 17 October, will cost carriers EUR60.0mn ($71.6mn)
Bernard Goyder
,
27 November 2017
Ergo revamps management amid commercial insurer launch
business under the banner of Ergo International Corporate Solutions (EICS), the carrier has said
Bernard Goyder
,
27 November 2017
Opinion: Amazon’s insurance play
Reports that Amazon is recruiting for a product manager to expand its insurance offering have triggered a number of scaremongering headlines in some corners of the press over the past few weeks
Catrin Shi
,
27 November 2017
Brit hires Brock for specialty platform Scion
Brit has appointed Scott Brock as president of its new specialty platform Scion Underwriting Managers.
Catrin Shi
,
27 November 2017
Allianz to spend $1.9bn on Euler Hermes buyout
Allianz plans to buy up the outstanding shares in trade credit insurer Euler Hermes and delist the company after a tender offer valuing the entire stock at about EUR5.2bn ($6.2bn).
Bernard Goyder
,
27 November 2017
CFC’s Jomaa to join TMK
Cyber underwriter Alex Jomaa, who was voted the top underwriter in the market for two years running in The Insurance Insider's cyber rankings, has resigned from CFC Underwriting, this publication understands.
Catrin Shi
,
24 November 2017
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