Willis Towers Watson departs with financial advisor

Willis Towers Watson is selling its Swedish financial advisor, Max Matthiessen, to Nordic Capital for an undisclosed sum. “We are very proud of what Max Matthiessen has accomplished and are confident that Max Matthiessen will continue to grow and expand their capabilities in order to deliver first-class client solutions with Nordic Capital as the new […]

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Specialty insurer names new CEO

Robinson’s wealth of experience is reflected in his more than 30-year stint as a global insurance executive. This includes recent stops at Crawford and Co., where he was global chief operating officer and executive vice-president, and at Oak HC/FT, where he served as executive in residence and senior advisor. Robinson also had a 10-year tenure […]

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AXA gives financial boost to SMEs on back of court case

The insurance industry may be under fire for its refusal – in some cases – to not pay COVID-19 linked business interruption claims, but it is pulling out the stops for SMEs in other ways. For proof look no further than AXA chief executive Thomas Buberl’s announcement of a further 500 million euros to assist […]

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Maine agency joins SAN Group

Satellite Agency Network (SAN) Group, an alliance of independent insurance agencies in the Northeast, has announced that Westbrook, Maine-based AK Insurance has joined the network. AK Insurance was founded in April by owner Alex Kapothanasis. It provides a full line of property and casualty products including home and auto, recreational vehicle, and commercial. The agency […]

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Travel insurers make policy changes to address COVID-19

Travel insurance providers are already making policy changes to address the “new normal” of the COVID-19 pandemic, according to travel insurance comparison site Squaremouth. Prior to January, pandemics and viruses weren’t common concerns for travelers. At that time, only one travel insurance provider on Squaremouth offered coverage for CDC alerts. In the wake of COVID-19’s […]

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Tokio Marine HCC wraps up acquisition of GCube

Tokio Marine HCC has completed the acquisition of specialist renewable energy underwriter GCube, after the deal was announced in March. According to Tokio Marine HCC’s statement, the move will boost its capabilities in renewable energy insurance, by combining GCube’s 25 years of experience in the international renewables industry with its global footprint and financial scale. […]

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COVID-19 sparks turbulence for aviation insurers

With many countries introducing temporary travel restrictions and border closures, the aviation industry has been thrust into a period of prolonged turbulence. By the end of March, approximately 8,500 airliners were grounded globally, flight schools and pilot training had come to a halt, and major airports had turned into mass parking lots for idle aircraft. […]

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Some premiums set to double as hard market moves in

After witnessing several years of decreases, commercial insurance buyers are facing rate increases not seen in almost two decades, adding to the hardships many are already experiencing amid the COVID-19 pandemic. Industry experts expect price hikes to double for some premiums as insurers try to mitigate the impact the coronavirus on their revenue. The outbreak […]

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National Alliance to resume in-person classes

The National Alliance for Insurance Education and Research has announced that it will conduct two in-person courses after temporarily suspending classroom sessions due to the COVID-19 outbreak. The decision to hold a live course was made in accordance with national, state and local guidelines regarding social distancing and meetings, the National Alliance said. “For more […]

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K2 seals deal for Pioneer underwriting portfolio, staff

Pioneer Underwriters and K2 Insurance Services have announced the completion of a transaction that transferred Pioneer’s ongoing underwriting portfolio and its underwriting and support staff to K2. Terms of the transaction were not disclosed. The transferred business includes underwriting units specializing in property catastrophe reinsurance, financial institutions, international property facultative and marine specialty. The combined […]

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