Munich Re
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Munich Re’s venture capital arm Munich Re Ventures has closed a $500mn Munich Re Fund II to invest in early-stage companies. -
The ransomware surge is likely to lead to changes in the product, a shake-up in market share and challenges for MGAs.
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Binding insurers include Chubb and AIG, with reinsurance from Munich Re.
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HDVI is planning to launch in Illinois, Indiana, Ohio, and Minnesota, on top of its existing presence in Tennessee and Alabama.
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The new unit will place cover for clients trading between the US and Canada.
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The reinsurer says it is in discussion with clients and industry trade bodies on the issue.
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Bob Parisi says the tie-up is a first step towards more accurate pricing and coverage for clients.
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The reinsurer has around a 20% line on the broadcaster’s policy, with Willis Towers Watson acting as the broker.
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Amazon also joined the investment round through its Alexa Fund.
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Celerity will write public and private D&O business for the wholesale insurance market.
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Bruno takes leading role in the MGA’s general aviation team.
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The outgoing chief will stand down in April after 23 years with the carrier.
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