News - Re/Insurance groups

LLOYD's appoints US Market Development Director

LLOYD's announced the appointment of Uwe SCHOBERTH as US Market Development Director, a newly created role focused on expanding strategic relationships with retail, wholesale and reinsurance brokers.

CCN To Support Fraud Detection and Subrogation Initiatives

Claims Corporation Network (CCN) and eviid have entered into a partnership in order to support insurance companies and fleet-owners with a capability to reduce bogus (false), or unsubstantiated claims through the use of real time digital imagery allowing detection of manipulated digital media.

Hannover Re anticipates significant price increases in property and casualty reinsurance

Hannover Re expects to see significant price increases spanning the various lines of property and casualty reinsurance in the treaty renewals as at 1 January 2021. The key drivers here are the strains incurred by primary insurers and reinsurers in connection with the Covid-19 pandemic, a further drop in interest rate levels and the large losses recorded over the past three years.

Guy Carpenter: The (re)insurance industry is navigating one of the most significant periods of change in recent times

The (re)insurance industry is navigating one of the most significant periods of change in recent times which is altering perceptions of risk across the sector; the impact of COVID-19, the first globally systemic insurance loss, has put pressure on a marketplace already addressing challenges on multiple fronts, Guy Carpenter said, during media briefing 'The Changing Nature of Risk'.

Guy Carpenter launches probabilistic Indonesia Flood Model

Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a business of Marsh & McLennan Companies (NYSE: MMC), today announced the launch of its new Indonesia Flood Model. The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, the most frequently occurring natural peril in the country.

Vienna Insurance Group starts innovative insurance model in Poland

The Vienna Insurance Group is now starting a new pilot project and will introduce a motor insurance offer with fully digital distribution and claims settlement on the Polish market by the end of year 2020. The heart of the project is an IT platform that allows rapid and flexible adaptations to meet changing customer needs and market conditions. If the pilot project is successful, an expansion to other VIG countries is planned.

AM Best Affirms credit ratings of Gulf Insurance Group

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" of Gulf Insurance Group K.S.C.P. (GIG) and its subsidiary, Gulf Insurance and Reinsurance Company K.S.C. (Closed) (gig-Kuwait) (both domiciled in Kuwait). The outlook of these Credit Ratings (ratings) is negative.

CCN, 1H2020: Group's performance remained stable in spite of ongoing COVID-19 crisis

As for most companies, Covid-19 has left a mark on Claims Corporation Network's (CCN's) results as well. The COVID-19 crisis caused one of the most severe economic and financial market turmoil's and while financial markets have rallied in the second quarter of 2020, the economic recovery remains fragile. However, the fact that CCN's performance remained stable in a challenging first half year reinforces our resilience.