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Merger proposal prompts Austral Re and Terra Brasis ratings review

The planned merger has seen AM Best place the respective companies’ ratings under review.

Christopher Munro, June 18, 2019
Insurers’ $65mn Stanford Ponzi settlement thrown out

Lloyd’s underwriters, Arch and Lexington will need to reach a new accord with victims of Allen Stanford’s $5bn investment fraud.

Christie Smythe, June 18, 2019
Allstar MGA recruits Metromile underwriter

Texas-based Aspen MGA has brought on board Melody Johnson as director of underwriting.

Bernard Goyder, June 18, 2019
Citizens’ rate demand drops by almost half in wake of AOB reform

Citizens' is considering a revised 4.7 percent rate increase in 2019 for personal lines policyholders.

Laura Sanicola, June 18, 2019
Axa XL makes AIG’s Klepper CUO of short-tail insurance

Robert Klepper, most recently president of client risk solutions at AIG, previously worked at XL for 11 years.

Anna Sagar, June 18, 2019
LatAm reinsurers disappointed by minimal rate rises at 1.7 renewal

Despite early hopes of sizeable rate rises, reinsurers are frustrated that many accounts will renew with as-before terms.

Christopher Munro, June 18, 2019
Lemonade uses an AI lie detector to check for fraud

Facial recognition software is used to see if customers are “telling the truth”, Lemonade’s Sagalow told InsiderTech New York.

Bernard Goyder, June 18, 2019
WR Berkley recruits Spragg to lead Berkley Select

Spragg joins the carrier from consulting firm Alvarez & Marsal, and fills a role previously held by Joseph Shores.

Bernard Goyder, June 17, 2019
Chubb holds on to lead in US cyber market: AM Best

The insurer led the pack with a 16 percent share of the cyber market last year, according to a new report.

Laura Sanicola, June 17, 2019
Trov withdraws UK consumer app to focus on commercial insurance

The San Francisco-based InsurTech launched in the UK in 2016 with Axa Insurance UK.

Anna Sagar, June 17, 2019

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