Furtschegger was previously responsible for the international expansion of Entertainment, which is an AGCS line of business since 2015 Entertainment was hit significantly by Covid-19-driven claims in 2020, but is expected to develop into a successful and sustainable book of business for AGCS   Effective immediately, Michael Furtschegger will be appointed as Global Head of Entertainment at Allianz Global Corporate …

Deutsche Rückversicherung will start writing business in Latin America. The Board of Executive Directors has appointed Florian Kummer as Head of Latin American Markets. The German reinsurer, based in Düsseldorf, will focus on traditional property and casualty business in the newly launched market segment. With a view to the upcoming renewals, Deutsche Rück plans to start writing standard property and …

Together, Insuralex  and Lowers Forensics can assist in complex claims that require a high specialization and that have an international component that requires specialized knowledge in diverse jurisdictions. Lowers Forensics International, a globally trusted financial forensics and risk mitigation firm, has joined Insuralex Global Insurance Lawyers Group as a key sponsor. Together, Lowers Forensics and Insuralex are working to create a world-wide referral …

As part of a series of new economic agreements, the UK and Brazil have agreed to further equalise the treatment of foreign and domestic financial companies in Brazil. In particular, this will relate to the re/insurance sector and is expected to support UK re/insurers operating or looking to operate in Brazil. The fourth Economic and Financial Dialogue (EFD) between the …

We are delighted to announce the opening of a new ADVANTA office in Mexico City, Mexico.   This strategic decision will enhance our capability to better service our clients in this regional insurance hub. The opening of ADVANTA Mexico is part of our strategy to expand our global footprint and better meet our clients’ growing needs in Latin America. The new office is headed by Edgardo …

Tony Matta just let iNLIP know about his new possition as President at Lockton Tony has over three decades in the re/insurance industry, both as a reinsurance broker, and as an insurance and reinsurance underwriter. Throughout his career, he has been involved in the underwriting and placement of many of the leading Property, Energy, Education, Government, Hospitality, and Private Sector …

New specialty insurer and reinsurer, Inigo Limited, has now received approval in principle from the Corporation of Lloyd’s and will start writing business for 2021. Additionally, the company announces the appointment of George Stratts, former President and Chief Executive Officer (CEO) of AIG’s Lexington Insurance Company, as Head of First Party. In this role, he will be tasked with building …

Argo Group International Holdings, Ltd., an underwriter of specialty insurance and reinsurance products, today announced an agreement to sell its reinsurance business, Ariel Re, to Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise. Closing of the transaction is subject to regulatory approval and is expected to occur in 2020. “Ariel Re is well …

Insuralex´s exclusive member in the UK publishes a summary and analysis of the judgment in the FCA business interruption insurance test case   Following the hearing of the FCA business interruption insurance test case, which commenced on 20 July 2020 (you can read our summary of the hearing and the background to the claim here), the High Court handed down …

Zurich welcomes the judgment in the UK High Court, which confirms that the wordings represented by Zurich do not provide cover for business interruption in relation to the COVID-19 outbreak Throughout the current crisis the Group has provided a wide range of support and relief to customers including the prompt payment of claims where coverage exists, resulting in a limited …

The High Court has ruled that the majority of businesses who held business interruption insurance and were forced to close due to the COVID-19 pandemic are entitled to be compensated by the insurers and that, subject to the limits of the policy, this compensation should return them to the position they would have been in had the pandemic never happened. …

Chubb announced the launch of Chubb StudioSM, a new global platform that will simplify and streamline the distribution of the company’s insurance products through its partners’ digital channels around the world. The platform enables Chubb’s partners in retail, e-commerce, banking, fintech, airline, telecommunications and other industries to add digital insurance options to their own product and service offerings. Chubb Studio provides partner …

After successful pilots of an inclusive insurance product that helps families and microentrepreneurs to recover from the consequences of natural disasters in Guatemala and El Salvador, MiCRO started a regional expansion to maximize impact and reach scale Activities in the first expansion country, Colombia, are the result of a partnership with SBS Seguros Colombia S.A, and now with the valued …

UK insurers could soon be facing legal action over their refusal to pay out on what many policyholders see as legitimate claims related to BI and the COVID-19 crisis. The Financial Conduct Authority (FCA) has announced that it intends to obtain a court declaration to resolve contractual uncertainty in business interruption (BI) insurance cover relating to the coronavirus pandemic. The …

The Wimbledon Championships’ event cancellation policy that is set to pay out on Covid-19 was underwritten by Lloyd’s, AIG, Argo, Chubb, Hannover Re, Tokio Marine HCC, Munich Re and Swiss Re, with Marsh the broker according to what market sources have told Commercial Risk Europe. Also according to the same source, Commercial Risk Europe publishes that they understand that the …