Swiss Re sets up partnership with Daimler to reinvent car insurance

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With customer needs changing rapidly, two giants in their respective worlds have formed a partnership that looks to take automotive and mobility insurance to the next level.

Swiss Re and Daimler Insurance Services have formed a 50/50 joint venture, known as Movinx. Located in Berlin, the firm has been set up as an insurance intermediary and service provider and has already received competition clearances.

“We believe that partnering with Daimler Insurance Services and establishing Movinx will take us to the next level in innovating mobility insurance,” said Swiss Re digital transformation officer Pravina Ladva. “Our joint long-term ambition is to

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Confirmed: Arch Capital Group to purchase Watford Holdings

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“This consideration represents a premium of approximately 74% to Watford’s unaffected closing common share price on September 08, 2020, the last trading day prior to media reports about the possibility of a transaction between Watford and Arch.”

For Watford president and chief executive Jon Levy, the sale signifies “a clear path forward” for the property and casualty (re)insurer, whose operating subsidiaries’ financial strength ratings were placed under review with negative implications by A.M. Best in May.

Levy, who sees the transaction as delivering an attractive premium to shareholders, added: “We believe that Watford will be better positioned as a standalone

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Singapore to offer COVID-19 insurance for short-term visitors

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As Singapore relaxes its restrictions on essential and business travel, it is now offering COVID-19 insurance to short-term visitors, in case they contract the viral disease during their stay.

The product, known as ChangiAssure, offers up to SG$100,000 in hospitalisation cover, The Business Times reported. It is underwritten by HL Assurance and distributed by Changi Travel Services, a wholly-owned subsidiary of the Changi Airport Group.

Singapore currently accepts travellers from Brunei, China, Japan, Malaysia, South Korea and vice-versa for essential and business-related travel. Visitors from Australia (excluding Victoria), New Zealand, and Vietnam who have applied for an Air Travel Pass

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AXA XL unveils key appointments globally

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Asia and Europe business unit appointments

  • Marie Charbonnier, global programs and captives director, Asia and Europe.
  • Matthew Daubin, chief underwriting officer, marine, Asia and Europe.
  • Yannick Daucourt, chief underwriting officer, specialty, Asia and Europe.
  • Simon Fumagalli, chief underwriting officer, global financial lines, Asia and Europe.
  • Michael Maier, chief underwriting officer, aerospace, Asian and Europe, and underwriting manager, aerospace, Switzerland.
  • Daniel Maurer, chief underwriting officer, casualty, Asia and Europe.
  • Laurent Richème, chief underwriting officer, property, construction and energy, Asia and Europe.
  • Corinne Southarewsky, chief claims officer,
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