Munich Re
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The portfolio of InsurTech partnerships will now be overseen by the company’s specialty businesses in the US and UK. -
Hudzik is a thirty-year plus veteran of the (re)insurance market having also worked at Endurance, Zurich and AIG.
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Global clients and Bermuda are also in the CUO’s purview as he replaces Peter Röder on the reinsurer’s management board.
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The start-up has appointed Kristi Matus, a former USAA CFO, as CFO and COO.
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Spruce partners with lenders and real estate companies to offer title insurance to homebuyers.
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The US tech giant has participated in three rounds at the Indian start-up, which is valued at around $500mn.
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To what extent reinsurers will pick up a share of BI exposures is a thorny question.
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The deal follows an earlier fronting agreement supported by Markel, Nephila and RenaissanceRe.
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Axis Capital and Argo Group shares jumped nearly 5%, while shares in Arch, Travelers and Alleghany were all up more than 3%.
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Move comes amid double-digit rate hardening in the US commercial auto market.
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The airline has said that it does not expect a total loss to the $200mn policy with the aircraft repairable.
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Munich Re has also temporarily stopped underwriting Jetty policies.
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