AXA XL launches Underwriting Innovation Office & more…Keep up with what has been happening this week in our latest insurance news round-up…
Aegon NV said on Thursday smaller rival ASR would buy its Dutch insurance operations in a cash and shares deal worth around 4.9 billion euros ($4.93 billion) that would see ASR replace it as the country’s second-largest insurer.
AXA XL Insurance has announced the launch of an Underwriting Innovation Office in the US. The company has appointed Rose Hall, currently head of construction innovation, as head of innovation, Americas, to lead the office.
The Co-op Group’s insurance arm and mutual LV= are among the businesses signing up for Amazon’s new price comparison venture, Insurance Store. Co-op Insurance says customers will be able to purchase its policies on Amazon’s UK platform “alongside products they may need for their home like gadgets, electrical items, books and household items”.
The Asia-Pacific reinsurance sector will contend with increasing downside risks amid global headwinds, according to a report by S&P Global Ratings. The report, titled Asia-Pacific Reinsurance Sector Update: Volatility Ahead For Risks And Returns, found that underinsurance, anticipated rate hikes, and diversification will lead to moderate growth prospects for premiums.
Acrisure, the Grand Rapids, Mich.-based insurance broker and fintech specialist, announced the acquisitions of Sutton Winson and Sutton Specialist Risks (SSR), in the UK.