Announcing the expansion blueprint of the initiative, the company...
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Willis appoints Aon’s Anant Pawar as Aviation & Space Leader for India
Anant Pawar, Aviation & Space Leader, Willis,India Willis...
Lloyd’s broker UIB charged by UK over alleged Ecuador bribes
UIB sold reinsurance services to state-backed insurers covering...
German ‘insurtech’ Wefox raises $650 mln at valuation of $3 bln
Wefox founder and CEO Julian Teicke told Reuters the Series C round had drawn strong investor demand because Wefox was growing both rapidly and more profitably than rival online insurers that are losing money.
He put that down to Wefox’s strategy of offering digital tools that enable insurance agents to streamline and automate labor intensive processes. Agents sell nine out of every 10 policies in Europe, leaving direct-to-consumer competitors like Lemonade fighting for a smaller piece of the market.
Lloyd’s to partner London Market Insurance Companies and DXC Technology to transform its digital processing
London: Lloyd’s, London Market Insurance Companies and DXC Technology partner to transform the technology and digital processing that powers the world’s largest insurance marketplace. Lloyd’s, DXC Technology, the Boards of the Lloyd’s...
Irdai slaps Rs 24 lakh penalty on Policybazaar for violating advertisement norm
Policybazaar said it had issued the SMS to keep their customers updated and not to mislead the customers. They also confirmed that they have stopped the SMS immediately on receipt of the Authority”s communication, Irdai said.
Howden acquires specialist medical and healthcare broker MPRS
Founded in 2014 by James Dunsby and Chesney Phelps, MPRS is an award-winning insurance broker for medical professionals and healthcare organisations across the UK. It provides accident & health, professional liability, medical malpractice, and commercial combined cover for general practice, private practice and GP federations.
Buffett’s Berkshire buys a $943 million stake in Aon
At Berkshire’s May 1 annual meeting, Buffett said his Omaha, Nebraska-based company would like to spend $70 billion or $80 billion, but would probably not get a chance until the market offered better values.
Insurance for safeguarding employee value:Lloyd’s report
COVID-19 has exacerbated many of the risks involving human capital value. With the pandemic impacting the entire workforce globally, and many organisations still operating under a remote working model, the value of employees in achieving productivity is vital for business continuity. It is becoming increasingly apparent that talent attraction and retention, and employee wellbeing are not just intrinsically linked, they also have a direct impact on business performance.
World Insurance Report 2021: Insurers must blend physical and digital distribution models in a post-pandemic era
AI-based analytical tools and a 360-degree view of customers is essential for a customized customer-experience. The most successful insurers will win and retain customers by reinventing their operating ecosystem to support a ‘phygital’ model based on a mix of physical presence and digital engagement.
“Insurers have an opportunity to convert digital traffic to sales by focusing on a hyper-personalized virtual experience,” said Anirban Bose, CEO of Capgemini’s Financial Services and Group Executive Board Member.
Arthur J. Gallagher & Co to acquire Willis Re and WTW’s corporate risk, broking, health and benefits services for $3.57 billion
Gallagher has agreed to purchase a group of businesses from Willis Towers Watson that includes:
Willis Re operations globally, excluding operations in mainland China and Hong Kong;
Global cedent facultative reinsurance, excluding operations in mainland China and Hong Kong;
Corporate Risk and Broking business unit known as Inspace globally and certain business undertaken for Aerospace Manufacturing clients;
Medi Assist Healthcare Services files IPO papers with Sebi
Those selling shares in the offer for sale include Dr Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC and Investcorp Private Equity Fund I.
As per the draft papers, the company managed Rs 7,829.5 crore of health insurance premiums for the financial year 2020.
For the nine month ended December 2020, the company reported a total income of Rs 257.44 crore against Rs 245.16 crore a year ago. Its profit after tax was at Rs 33.09 crore for the nine months ended December 2020 as compared to Rs 31.04 crore in the same period last year.
Aon forms EMEA M&A and Transaction Solutions Advisory Board to support growth and expansion of M&A practice
The new advisory board will support the growth and development of Aon’s M&A practice across the UK and EMEA, as it continues to expand its client offerings to include solutions for intellectual property, cyber security and digital performance, retirement, benefits, talent and compensation, structured credit, tax and litigation risks, ESG and more.