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Hiscox partners with InsurTech startup Bold Penguin

Hiscox International has agreed to make available to its US agents an online marketplace for commercial products through a new partnership with InsurTech startup Bold Penguin.

Ted Bunker, 13 June 2017
Darag considers equity raise

European legacy acquirer Darag has appointed Macquarie to advise on an equity raise as it looks to secure funds for its deal pipeline, The Insurance Insider understands.

Adam McNestrie, 13 June 2017
Centerbridge among Sabre bidders

Private equity house Centerbridge is among the bidders for UK motor insurer Sabre, with minority backing from the Qatar Insurance Company (QIC), The Insurance Insider understands

Dan Ascher, 13 June 2017
Novae continues overhaul as US cat book heads to Fidelis

Novae CEO Matthew Fosh has exited yet another line of business in the form of US property cat as he continues to reposition the London-listed firm in an effort to restore investor confidence following a succession of missteps.

Dan Ascher, 13 June 2017
TT Club underwriting profit falls as claims rise

UK-based marine mutual carrier TT Club grew its top line by 3.3 percent in 2016, while underwriting profitability dwindled

Dan Ascher, 13 June 2017
Mapfre takes control of Indonesia’s ABDA

Spanish insurer Mapfre has completed its EUR90mn ($100.9mn) acquisition of an additional 31 percent stake in Indonesia's Asuransi Bina Dana Arta (ABDA) in a transaction that gives it control of the company

Laura Board, 13 June 2017
PRA consults on toughening rules for insurer managers

The Prudential Regulation Authority has proposed bolstering the Senior Insurance Managers’ Regime (SIMR) by introducing new key functions and requiring the separation of the chairman and CEO roles at large insurers.

Laura Board, 13 June 2017
Everest Re adds to energy team with Engelbrecht hire

Everest Re is poised to announce its latest move to bulk up its primary carrier group with the addition of former AIG executive Jeff Engelbrecht to the unit’s energy team, The Insurance Insider has learned.

David Bull, 13 June 2017
Insurance Act implementation ‘inconsistent’: Airmic CEO

The Insurance Act has been implemented inconsistently and in a way that is sometimes contrary to the spirit of the legislation, according to the outgoing CEO of UK risk manager trade body Airmic.

Bernard Goyder, 13 June 2017
Market faces $500mn Huntsman loss

The property fac market is facing a potential $500mn loss following a fire at US chemical corporation Huntsman's titanium dioxide manufacturing facility in Finland, according to sister publication Inside FAC.

Gavin Bradshaw, 13 June 2017

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