Publication: Insurance Business Review

First reported 3 hours ago - Updated 3 hours ago - 1 reports

USI to acquire Willis’ retail insurance brokerage locations in US

USI Insurance Services (USI) has entered into an agreement with certain subsidiaries of Willis North America (Willis), part of Willis Group Holdings, to acquire seven of Willis' retail insurance brokerage locations across the US.These locations will expand ... [Published Insurance Business Review - 3 hours ago]
First reported 9 hours ago - Updated 9 hours ago - 1 reports

ACE launches suite of professional indemnity insurance wordings for media professionals

ACE Group launched a suite of professional indemnity (PI) wordings aimed exclusively at media companies domiciled outside the USA and Canada as it continues to expand its specialist capabilities for this growing sector of the economy.Technological developments ... [Published Insurance Business Review - 9 hours ago]
First reported 10 hours ago - Updated 10 hours ago - 1 reports

Voya Financial offers Critical Illness Insurance products in New York

Voya Financial, formerly known as ING US, is providing Compass-branded Accident Insurance and Specified Disease Insurance (Critical Illness Insurance) products to customers in the state of New York. ... [Published Insurance Business Review - 10 hours ago]
Entities: New York City, Accident
First reported 14 hours ago - Updated 14 hours ago - 1 reports

China pilots new catastrophe insurance system

China is reportedly pilot testing a catastrophe insurance system as part of plans to boost and extend the country's insurance market.A top regulator was quoted by Reuters as saying that the system testing is being carried out to evaluate the feasibility ... [Published Insurance Business Review - 14 hours ago]
Entities: China, Natural Disaster
First reported Aug 20 2014 - Updated Aug 20 2014 - 1 reports

CNinsure receives final approval of class action lawsuit settlement from US court

The US District Court for the Southern District of New York has granted final approval for China-based CNinsure for the settlement of consolidated class action lawsuit against the company.The company said that it received the final judgement, which dismissed ... [Published Insurance Business Review - Aug 20 2014]
First reported Aug 20 2014 - Updated Aug 20 2014 - 1 reports

QBE may sell US underwriting business unit after 18% decline in profit

Australia-based QBE Insurance Group may sell its US underwriting agency businesses and other assets and issue new shares, in a bid to raise $1.5bn after an 18% drop in first-half profit. ... [Published Insurance Business Review - Aug 20 2014]
First reported Aug 20 2014 - Updated Aug 20 2014 - 1 reports

ABG and Mutual of Omaha partner to offer graded benefit Whole Life Insurance

Affinion Benefits Group (ABG), the insurance division of Affinion Group and one of the nation's largest third-party administrators (TPA) of insurance services, and Mutual of Omaha, released a graded benefit whole life insurance product that can be offered ... [Published Insurance Business Review - Aug 20 2014]
First reported Aug 20 2014 - Updated Aug 20 2014 - 1 reports

Mutual of Omaha launches Group Accident Insurance

Mutual of Omaha, a leading provider of group benefits, has announced a new Accident product that allows employers to enhance their benefits coverage, while providing employees and their loved ones with added protection if an accident occurs.Accident insurance ... [Published Insurance Business Review - Aug 20 2014]
First reported Aug 19 2014 - Updated Aug 19 2014 - 1 reports

Fosun to acquire 20% stake in Ironshore for $464m

Shanghai-based Fosun International has signed an equity purchase agreement with Ironshore to acquire 20% stake in the US insurer for $463.83m.Upon completion of the acquisition, Fosun will become the largest shareholder of Ironshore.The acquisition will ... [Published Insurance Business Review - Aug 19 2014]
First reported Aug 18 2014 - Updated Aug 18 2014 - 1 reports

Intellectual Property Insurance Services launches complimentary services

IPISC, the intellectual property (IP) insurance industry leader, announced that Litigation Management Services (LMS) has been included as a service to all IPISC policyholders.The Litigation Management Services team assists policyholders by managing the ... [Published Insurance Business Review - Aug 18 2014]
First reported Aug 18 2014 - Updated Aug 18 2014 - 1 reports

San Cristóbal selects Guidewire’s software for claims management

Argentina-based insurer San Cristóbal Seguros has selected ClaimCenter as its new claims management system.The system is said toHelp San Cristóbal to replace its core systems and optimize business processes.The system will enable the company to streamline ... [Published Insurance Business Review - Aug 18 2014]
First reported Aug 18 2014 - Updated Aug 18 2014 - 1 reports

Cigna’s Proprietary Retail Exchange launches nationally

Cigna is launching its proprietary private retail exchange in new markets and expanding in others, offering employers a new, cost-effective way to give employees more benefit choices, all in one place."Cigna's goal is to offer a full range of plan choices ... [Published Insurance Business Review - Aug 18 2014]

Quotes

Michael J Sicard, USI's chairman president and chiefchief executive officer, explained, "We are excited to have this accomplished, experienced group of insurance professionals join us as new partners and associates."
Steve Driscoll, Product Head, UK and International Professional Lines, ACE Global Markets, said: "While ACE has been providing professional indemnity cover for many years, we are always looking at ways to respond better to clients' needs and develop our covers accordingly. In today's digital age, media companies face very specific exposures to which we are responding with this suite of covers. In addition, our team of underwriters brings with them a wealth of experience in underwriting professional indemnity with Adelle Gruber who has significant experience in the London market and Geoff Russell in dealing with our broker community and customers in the regions outside London."
...approach to insurance to a wider array of customers," said John O'Malley, National Director of Partnership Sales and Marketing for Mutual of Omaha. "ABG has extensive experience with these institutions, and can quickly expand our presence in this valuable channel."
CNinsure CEO Chunlin Wang CEO said: "We are pleased to have this matter resolved and behind us, so that we can now focus on executing our strategies for delivering strong financial results and creating value for our shareholders over the long run."

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USI to acquire Willis’ retail insurance brokera... [Published Insurance Business Review - 3 hours ago]
ACE launches suite of professional indemnity in... [Published Insurance Business Review - 9 hours ago]
Voya Financial offers Critical Illness Insuranc... [Published Insurance Business Review - 10 hours ago]
China pilots new catastrophe insurance system [Published Insurance Business Review - 14 hours ago]
QBE may sell US underwriting business unit afte... [Published Insurance Business Review - Aug 20 2014]
ABG and Mutual of Omaha partner to offer graded... [Published Insurance Business Review - Aug 20 2014]
Mutual of Omaha launches Group Accident Insurance [Published Insurance Business Review - Aug 20 2014]
CNinsure receives final approval of class actio... [Published Insurance Business Review - Aug 20 2014]
Fosun to acquire 20% stake in Ironshore for $464m [Published Insurance Business Review - Aug 19 2014]
Intellectual Property Insurance Services launch... [Published Insurance Business Review - Aug 18 2014]
Cigna’s Proprietary Retail Exchange launches na... [Published Insurance Business Review - Aug 18 2014]
San Cristóbal selects Guidewire’s software for ... [Published Insurance Business Review - Aug 18 2014]
NFP buys Poulos Insurance, Altus Specialty Grou... [Published Insurance Business Review - Aug 15 2014]
Piraeus Bank agrees to divest ATE Insurance to ... [Published Insurance Business Review - Aug 15 2014]
Aegon Q2 underlying earnings increased to €514m [Published Insurance Business Review - Aug 14 2014]
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Philippines central bank permits banks to sell ... [Published Insurance Business Review - Aug 12 2014]
North American life insurer uses Kofax Software... [Published Insurance Business Review - Aug 12 2014]
AJG acquires Minvielle & Chastanet Insurance Br... [Published Insurance Business Review - Aug 12 2014]
Arthur J Gallagher & Co purchases Trip Mate [Published Insurance Business Review - Aug 11 2014]
Tata AIG General Insurance unveils three new he... [Published Insurance Business Review - Aug 11 2014]
Health Insurance Innovations acquires American ... [Published Insurance Business Review - Aug 11 2014]
Gen Re signs as reinsurance partner [Published Insurance Business Review - Aug 11 2014]
Russia Pension move negative for life insurance... [Published Insurance Business Review - Aug 08 2014]
Electric Insurance Company taps Agencyport Soft... [Published Insurance Business Review - Aug 08 2014]
Confie Seguros acquires three insurance brokera... [Published Insurance Business Review - Aug 08 2014]
FCA fines Stonebridge £8.4m for mis-selling acc... [Published Insurance Business Review - Aug 08 2014]
Swiss Re Q2 profit increases to $802m [Published Insurance Business Review - Aug 08 2014]
Arthur J Gallagher & Co acquires Denman Consult... [Published Insurance Business Review - Aug 07 2014]
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