TigerRisk appoints industry veteran to lead MGA business

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TigerRisk, a risk, capital and strategic advisor to the global insurance and reinsurance industries, has appointed Jim Kilduff (pictured) to head up its managing general agents (MGA) business. Kilduff, who has served the reinsurance industry for 17 years and has two decades of experience in the MGA and program space, joins from his role as CEO of Harbor Hill Solutions.

In a press release, TigerRisk noted that Kilduff has extensive experience in helping MGAs to find and secure carriers partners as well as working with insurtechs, program managers, insurance and reinsurance companies, and retail and wholesale distributors. Before his role

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What’s triggered an uptick in M&A insurance claims?

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“We’re getting significantly more claims, but the business that we’re writing has grown by the same amount, so it’s in line with expectation,” he said. “One new trend is that claims are coming in quicker. It used to be the case that if you wrote a policy in 2010, you wouldn’t expect to see a claim on that policy until 2012 at the earliest. Now that claim is coming in within the first 12 months of writing the policy.”

According to Liberty GTS’s 2021 M&A Claims Briefing, 57% of claim notifications were made in the first 12 months of the

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Apollo Group Holdings obtains multi-million investment

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Lloyd’s business Apollo Group Holdings Limited will be backed by Alchemy Special Opportunities Fund IV LP (Alchemy) through an agreed investment worth US$90 million (around SG$122.01 million).

In a release, the independent specialist (re)insurer said the amount will support the continued growth of its hybrid underwriting model. The company, which leads a number of London market consortia, provides underwriting and syndicate management services for third parties alongside Apollo’s own balance sheet.

“We are delighted to be forming this new partnership with Alchemy,” commented Apollo chief executive David Ibeson. “It reinforces our belief in the continued opportunity provided in the Lloyd’s

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EBA CLEARING, SWIFT and TCH to pilot fast cross-border payments

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Banks from both sides of the Atlantic have successfully exchanged payment messages for a faster cross-border payments as part of a proof of concept demonstrating the feasibility of synchronising settlement across existing instant payment systems in one of the world’s largest currency corridors.

EBA CLEARING, SWIFT and TCH team to pilot fast cross-border payments

The three private-sector, member-owned companies, EBA CLEARING, SWIFT and The Clearing House (TCH), completed a proof of concept as part of a new initiative, Immediate Cross-Border Payments (IXB), that demonstrates the ability to synchronise settlement in one instant payment system with settlement in the other and

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