A Bavarian start-up is developing a five-seat “flying taxi” after successful test flights over Germany of a smaller version of the electric jet, the company said on Thursday. Munich-based Lilium, backed by investors who include Skype co-founder Niklas Zennstrom, said …
Nirvana Risk Partners has launched as an underwriting cell on Castel Underwriting Agencies’ MGA formation platform, targeting media, technology and cyber liability risks. Nirvana will underwrite risks for small and large enterprises on a global basis with a particular emphasis …
Britain’s financial watchdog is investigating five insurance brokers over information-sharing on aviation insurance, the companies said, in one of the first cases of its kind by the watchdog. Aon, Jardine Lloyd Thompson (JLT), Marsh , UIB and Willis Towers Watson …
The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is likely to …
Warburg Pincus is the frontrunner to acquire a minority stake in Indian insurer ICICI Lombard General Insurance Co. from Prem Watsa’s Fairfax Financial Holdings Ltd., according to people familiar with the matter. Toronto-based Fairfax, which owns 35 percent of ICICI …
Building on their existing collaboration, Beazley and Munich Re’s Corporate Insurance Partner announced the creation of “Vector,” a partnership that aims “to bring innovation and capacity to the large cyber market.” Vector cements a relationship the two insurers forged a …
AXA announced that Jad Ariss, currently CEO of AXA Middle East & Africa, has been appointed group head of Public Affairs & Corporate Responsibility. He will report in his new role to George Stansfield, group general secretary and a member …
It was the third hour of doing nothing that broke James Scott. The 25-year-old researcher was sitting at his desk at an insurance firm in northern England when the internet went down. And with it went access to all of …
Technology is expected to be a major driver of liability claims in the years ahead – cutting frequency and increasing new threats such as cyber, product liability and recall risk, according a report published by Allianz Global Corporate & Specialty …
A windstorm that hit parts of southern Ontario on March 8, 2017 has caused almost C$100 million (US$73.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), which quoted a report from Catastrophe Indices and Quantification Inc. …
