American International Group, Inc. announced that Richard Olsen will join the company as Chief Actuary, General Insurance, effective immediately. Mr. Olsen will be based in New York and will report to Mark Lyons, Executive Vice President & Chief Financial Offer, AIG. Mr. Olsen will lead the General Insurance global actuarial organization, with responsibility for aligning… Continue reading AIG Appoints Richard Olsen Chief Actuary, General Insurance
Tag: insurance
Ryan Specialty Group and Nationwide to Launch New Reinsurer Geneva Re in Bermuda
Ryan Specialty Group (RSG) has teamed up with insurance and financial services provider Nationwide to launch a new reinsurance company based in Bermuda, Geneva Re. Nationwide will own 50 percent of the new entity, with RSG and RSG-related investors holding the remaining 50 percent. Both the parties have agreed to a strategic partnership that will… Continue reading Ryan Specialty Group and Nationwide to Launch New Reinsurer Geneva Re in Bermuda
Chubb Enhances Multinational Capabilities with Cutting-Edge Policy Translation Solution
Chubb announced several key improvements to its proprietary digital Worldview® platform, adding new features and improved functionality to better serve its multinational clients and brokers. The most notable of these enhancements is its new policy translation solution that is exclusive to Chubb and its current multinational customers. “Chubb is dedicated to providing its customers and… Continue reading Chubb Enhances Multinational Capabilities with Cutting-Edge Policy Translation Solution
Jardine Lloyd Thompson Reports Underlying Growth Ahead of Takeover
Jardine Lloyd Thompson Group PLC – which is in the process of being taken over by US insurance provider Marsh & McLennan Cos Inc – on Tuesday said its annual underlying profit and revenue increased. Under London Stock Exchange regulations, JLT has to update the market on key financial items despite shareholders approving the GBP4.3… Continue reading Jardine Lloyd Thompson Reports Underlying Growth Ahead of Takeover
Hiscox Profits Treble As Insurer Reaps Benefits of Overhaul
Insurer Hiscox’s profits trebled last year, despite a series of large natural catastrophes and volatile investment markets. The company on Monday said it was reaping the benefits of action it had taken over the past few years to restructure its London Market business, which sells specialist commercial insurance in the City of London. That part… Continue reading Hiscox Profits Treble As Insurer Reaps Benefits of Overhaul
Cohen & Co. Targets Reinsurance & Insurtech Acquisitions
Cohen & Company, LLC, a fixed income financial services specialist with over $3 billion under management, is seeking to raise capital for what is termed a blank check company that will target acquisitions in the insurance, reinsurance and insurtech space under the leadership of John Butler. Cohen & Company hired John Butler as Managing Director… Continue reading Cohen & Co. Targets Reinsurance & Insurtech Acquisitions
Mark Zuckerberg Ordered to Answer Claims that Facebook Exposed Private Health Data
US committee has demanded Mark Zuckerberg answer claims that Facebook failed to protect users’ health data, leaving vulnerable people open to harassment and discrimination. The House of Congress Energy and Commerce Committee, which has been tasked with scrutinising social media companies, suggested that Facebook misled users into joining “anonymous” groups without realising they were exposing… Continue reading Mark Zuckerberg Ordered to Answer Claims that Facebook Exposed Private Health Data
CT Insurance Dept. Recoups $8M for Policyholders, Taxpayers
The Connecticut Insurance Department said it recovered nearly $8 million for policyholders and taxpayers in 2018, according to Acting Commissioner Paul Lombardo. Lombardo, serving in place of former Commissioner Katharine L. Wade, on Friday said his agency’s Consumer Affairs Unit handled 6,350 complaints and inquiries in 2018, resulting in over $5.5 million being returned to… Continue reading CT Insurance Dept. Recoups $8M for Policyholders, Taxpayers
IoT Could Unleash More Insurance Innovation: Lloyd’s
The advent of the Internet of Things (IOT) has the potential to increase complexity and amplify risk, but it could also enable more innovation throughout the entire insurance value chain, including the way claims are settled in future, according to new research from Lloyd’s. “Networked World: Risks and Opportunities in the Internet of Things”, published… Continue reading IoT Could Unleash More Insurance Innovation: Lloyd’s
Applying AI to Insurance Documents, Omni:us Raises Its First Series A Funding
Earlier this year omni:us, an AI-driven service which is able to process digital documents (some of which contain handwriting) by classifying them and extracting the valuable data, revealed it was working with over half of the top 10 insurance providers in the German-speaking DACH region. It’s now closed a Series A round of funding bringing… Continue reading Applying AI to Insurance Documents, Omni:us Raises Its First Series A Funding