Captive News

Global captive market updates, regulatory news and industry insights

London Insurance Startup Zego Raises £6 Million in Series A Funding

London startup Zego, which offers insurance products for the sharing economy, has reportedly raised £6 million in Series A funding. In the sharing economy era, many food delivery workers are not full-time; they work fixed part-time hours or even deliver in scattered spare time. Therefore, unlike traditional expensive insurance, Zego charges by the hour, saving delivery riders on insurance costs. Drivers only buy insurance when logged into the various delivery order platforms.

2017-11-20

Author：Editorial Team
CVS Reportedly in Talks to Buy Insurance Giant Aetna in a Deal Worth Up to $66 Billion

According to foreign media reports, CVS Health, the second-largest drugstore chain operator in the United States, is in talks to acquire insurance giant Aetna in a deal that could be worth as much as $66 billion.

2017-10-28

Author：Editorial Team
Uber France Offers Free Accident Insurance to Contracted Drivers, Seeking to Repair Trust

According to an October 26 report by France's "European Times" citing AFP, the French ride-hailing platform Uber began offering all Uber drivers free insurance against traffic accidents while carrying passengers, starting October 26 local time.

2017-10-28

Author：Editorial Team
Teaming Up with Insurance Companies—Can the Apple Watch Make a Glorious Turnaround?

Apple is seeking to cooperate with John Hancock, one of the largest life insurance companies in the United States, to sell discounted Apple Watches to the insurer's new and existing customers, helping them maintain a healthy lifestyle.

2017-10-26

Author：Editorial Team
VYV, Europe's Largest Health Insurance Group, Established—Injecting New Momentum into the Social Security System

Recently, VYV Group, Europe's largest health insurance group, announced its establishment. Launched and led by France's two major mutual health insurance groups, MGEN and Harmonie, and formed with the participation of several mutual insurance institutions, it has become France's largest health insurance group in one stroke, as well as the largest local non-profit private group providing health care and social services. Its establishment represents an innovative measure and unremitting effort by the mutual insurance industry to improve the social security system and promote social benefits.

2017-10-26

Author：Editorial Team
Amazon Announces Entry into the UK Insurance Market; Traditional Insurers Will Be Hit

Today, society as a whole is gradually transforming toward an intelligent, interconnected model, and Amazon's smart home layout meets the current basic needs of smart homes and home insurance. People increasingly like this kind of closely interactive service relationship, which the traditional annually settled insurance process cannot replace.

2017-10-21

Author：Editorial Team
Share of Self-Operated Online P&C Insurance Sales Declines; Scenario-Based Insurance Becomes the Main Driver of Innovation

The share of premiums that P&C insurers collect through their own online channels has declined, while the share of third-party online platforms has gradually increased. The August "Monthly Overview of Internet and Telephone Sales of Property Insurance" released by the Insurance Association of China shows that in the first eight months of this year, P&C insurers achieved premium income of RMB 16.865 billion through their PC official websites and mobile terminals, accounting for 52.59% of online P&C premiums—a notable decline from 67.75% at the end of last year.

2017-10-21

Author：Editorial Team
United States: Wildfires Cause Insured Losses Exceeding $1 Billion

On the 19th, the California Insurance Commissioner said that according to data provided by the eight largest insurance companies in the fire-affected areas, insured losses from the recent fires are preliminarily estimated at more than $1 billion, and the figure is expected to rise further.

2017-10-21

Author：Editorial Team
Insured Losses from U.S. Hurricanes and Mexico Earthquakes Reach $95 Billion

Survey data released by Swiss Re show that total claims paid by insurance companies to disaster victims from Hurricanes Harvey, Irma and Maria in the United States and the earthquakes in Mexico reached about $95 billion.

2017-10-21

Author：Editorial Team
Cayman Captive Insurance Companies Maintain Growth Momentum So Far in 2017

So far, the Cayman Islands Monetary Authority (CIMA) has issued 23 new insurance company licenses, including 20 Class B licenses—11 of which may conduct third-party business—and 3 Class C licenses.

2017-10-18

Author：Editorial Team

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