German Private Health Insurance (PKV) has announced that the organisation is releasing a new project capital fund to examine and manage the quality of health care in Germany through digitalisation. The health insurance companies taking part within the organisation will grant a minimum to be attained a volume of EUR100...
The aviation industry is preparing itself for insurance premium escalations that may run into double digits, for the first time in 15 years. Insurers have been battling higher costs due to aircraft groundings following fatal crashes. Renewals since 2017 have shown increasing premium pricing in the aftermath of costly plane...
Swiss Re expects further rate increases for loss-affected and underperforming businesses and broadly stable rates in other areas, amid continued capital abundance in the reinsurance market. A report by the organisation suggests that further rate increases are needed to ensure a long-term sustainable reinsurance market. Swiss Re’s CEO for reinsurance,...
Allianz X, the digital investment unit of the Allianz Group, has invested in the American B2B platform Fundbox as part of a Series C financing round. Headquartered in San Francisco, Fundbox deploys big data analytics, engineering, and predictive modelling to help small businesses optimise their cash flows with outstanding invoices....
The Thinking Ahead Institute (TAI) recently released research that highlights the growing importance of the private equity market to both companies and investors. Increasing demand from investors for private equity has been significant, with the industry growing more than 500 percent since 2000, valued at over USD3 trillion in 2019....
global reinsurance industry, earnings and capital volatility could be on the rise for some. After a prolonged soft market cycle underpinned by falling rates and intense competition, many reinsurers have been taking advantage of subsequent rate increases and growing their exposure in loss-affected regions and lines. While this has been...
Guy Carpenter & Company, LLC, has been selected as the sole reinsurance intermediary for the newly formed California Wildfire Fund, which is currently being administered by the California Earthquake Authority (CEA). Guy Carpenter will provide strategic reinsurance and advisory services to develop a risk transfer and reinsurance strategy for the California Wildfire Fund. Together,...
Farmers who signed up for specialist parametric policies that would insure them against natural catastrophe are getting swift payouts which could help them recover from heatwaves and prolonged droughts that hit parts of the country. Temperature records tumbled during late July’s European heatwave, the second to hit Europe in a...
Home insurance startup Hedvig has raised EUR9.3 million from San Francisco based Obvious Ventures and Swedish retailer group Axel Johnson’s venture leg D-Ax. The company uses technology to automate many of the processes including pricing and claims. According to cofounder Lucas Carlsén, much of the claim process is already automated. “It means that if you...
The German Insurance Association has said that the insurance industry has faced around EUR1.3 billion worth of claims to pay from natural phenomena such as windstorms, hail, lightning and heavy rain in the first half of 2019. Windstorms and hail drove a significant proportion of the losses, with convective weather...
