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Underwriting discipline likely to remain for majority of market: William Ho, MS Amlin

Reinsurance News

In an interview with Reinsurance News, William Ho, Chief Executive Officer of MS Amlin for Asia Pacific, affirmed that although reinsurance market dynamics in Asia have shifted in 2024, discipline is expected to persist as the company continues to...

Posted: Nov 28, 2024

CFC unveils new insurance solution for mid-size to multinational tech companies

Reinsurance News

Specialist insurance provider, CFC has announced the launch of a new comprehensive insurance solution which will provide coverage for technology and cyber risks faced by tech businesses with revenues exceeding $250 million. This new product, desig...

Posted: Nov 28, 2024

S&P projects cyber insurance premiums to hit $23bn by 2026

Reinsurance News

S&P Global Ratings, a provider of credit ratings, research, and analytics, maintains a stable outlook on the global cyber insurance and reinsurance industry, supported by solid underwriting profitability in 2023 and 2024, with expectations for...

Posted: Nov 28, 2024

Gallagher welcomes Neil Clutterbuck as Non-Exec Director

Reinsurance News

Neil Clutterbuck has been appointed as the Chair of Pen Underwriting and an Independent Non-Executive Director of Arthur J Gallagher Holdings (UK) Limited, subject to regulatory approval. Clutterbuck brings a wealth of experience to his new positi...

Posted: Nov 28, 2024

QBE names Jamie Kelly Group Chief Compliance Officer

Reinsurance News

Australian insurer QBE has appointed Jamie Kelly as its Group Chief Compliance Officer, following Ed Rainsford’s recent transition to the role of Chief Risk Officer, AUSPAC. In the new role, Kelly reports to Fiona Larnach, the Group’s Chief...

Posted: Nov 28, 2024

Miller adds industry veteran Guy Pierpoint to its Marine team

Reinsurance News

Independent specialist re/insurance broker Miller, has appointed Guy Pierpoint to its Marine team in a leadership role which will see him focus on business development. Pierpoint joined the broker at the beginning of the month, bringing almost fou...

Posted: Nov 28, 2024

Direct Line rejects ‘highly opportunistic’ £3.28bn takeover bid from Aviva

Reinsurance News

Direct Line has unanimously rejected Aviva’s £3.28 billion ($4.16 billion) 100% acquisition proposal, stating that it does not adequately reflect the firm’s standalone value, describing the offer as “highly opportunistic” a...

Posted: Nov 28, 2024

Root debuts new certified Developer Community Program

Reinsurance News

Root, an end-to-end digital insurance platform, has announced the launch of a certified developer community programme that aims to enhance scalability, efficiency, and cost-effectiveness. The programme has been designed to support in-house develop...

Posted: Nov 28, 2024

UK P&I Club appoints Richard Offord as Chief Executive of Singapore Branch

Reinsurance News

The UK P&I Club, a provider of protection and indemnity insurance to the global shipping industry, has announced the appointment of Richard Offord as Chief Executive of its Singapore Branch, effective 1 December 2024. Offord succeeds Yiah Soon...

Posted: Nov 28, 2024

AM Best assigns A- ratings to Fed Re with stable outlook

Reinsurance News

Global credit ratings agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Fed Re Ltd. (Fed Re) (Bermuda), with a stable outlook. According to AM Best, the ratings re...

Posted: Nov 28, 2024

Expenses Needed To Start an Insurance Agency

Insurance Journal

This post is part of a series sponsored by Darkhorse Insurance. Having to start an agency is an exciting and rewarding venture, but it’s crucial to plan for the financial commitments involved. From initial setup costs to ongoing expenses, under...

Posted: Nov 28, 2024

Allianz Partners Names Michael Buttstedt CFO and Board Member

IIR

With a tenure of over 25 years within the Allianz Group, Buttstedt was most recently CFO at Allianz Italy.

Posted: Nov 27, 2024

Lawsuit Seeks OSHA Records on Deaths of 3 Amazon Workers

Insurance Journal

A worker activist has sued the Department of Labor (DOL) to force the release of records surrounding the deaths of three workers at New Jersey Amazon workplaces in 2022. The lawsuit says DOL’s Occupational Safety and Health Administration (OSHA...

Posted: Nov 27, 2024

Modernizing Life & Annuities for Millennials

Insurance Thought Leadership

Modernizing Life & Annuities for Millennials Life & Health ClareCarroll1

Posted: Nov 27, 2024

The Future of CX: Synchronizing AI, Human Interaction

Insurance Thought Leadership

The Future of CX: Synchronizing AI, Human Interaction Customer Experience ClareCarroll1...

Posted: Nov 27, 2024

Rising Car Thefts, VIN Cloning Top Concerns: CARFAX Canada

Carrier Management

Rising Car Thefts, VIN Cloning Top Concerns: CARFAX Canada Canada's rising car theft problem sho...

Posted: Nov 27, 2024

More Than Half of Workers Are Satisfied With Their Job: Survey

Carrier Management

More Than Half of Workers Are Satisfied With Their Job: Survey Worker concerns about well-being are trending dow...

Posted: Nov 27, 2024

Cyberattacks Cost UK Businesses £44 Billion During Past 5 Years, Howden Survey

Insurance Journal

Cyberattacks cost UK businesses approximately £44 billion (US$55.3 billion) in lost revenue over the past five years, according to research published by Howden, the London-based insurance intermediary group. Half of those businesses (52%), or 1.3 mil...

Posted: Nov 27, 2024

Profitable growth expected for UK P&C insurers in 2025 amid moderating price momentum: Goldman Sachs

Reinsurance News

Goldman Sachs, a global investment banking, securities, and investment management firm, has analysed the current pricing trends across the UK’s property and casualty (P&C) insurance sector, suggesting that profitable growth opportunities...

Posted: Nov 27, 2024

Louisiana Gov. Landry Raises Concerns Over $3B Coastal Restoration Project

Insurance Journal

NEW ORLEANS (AP) — Louisiana Gov. Jeff Landry raised serious objections Thursday to a $3 billion project long hailed as key to restoring the state’s eroding coastline, decrying the growing cost and predicting dire harm to a coastal culture depe...

Posted: Nov 27, 2024

Wisconsin Man Charged With Crop Insurance Fraud

Insurance Journal

A Wisconsin man has been charged with defrauding the Federal Crop Insurance Program, the U.S. Attorney’s Office for the Western District of Wisconsin announced. Lance G. Meier, 52, Ogema, is charged with defrauding the federal crop insurance pr...

Posted: Nov 27, 2024

Insurers in the US to benefit from Near Space Labs’ enhanced aerial imagery

Reinsurance News

Near Space Labs, an aerial imagery provider for insurance applications among others, has announced the deployment of stratospheric robots across the United States, which will contribute to delivering improved aerial imagery throughout the country....

Posted: Nov 27, 2024

Tank Containing Oil Drilling Byproducts Explodes Near GM Plant in Michigan

Insurance Journal

BRIGHTON Mich. (AP) — A tank containing byproducts from oil drilling operations exploded and caught fire Tuesday near the General Motors Proving Ground in southeastern Michigan, damaging two nearby homes but causing no injuries, a fire chief said. Fi...

Posted: Nov 27, 2024

AM Best Upgrades Credit Rating of Texas Mutual

Insurance Journal

AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa-” (Superior) from “a+” (Excellent) of Texas Mutual Insurance Company (Texas Mutual) based in...

Posted: Nov 27, 2024

Patronis to Leave Florida CFO Job to Run for Gaetz’ Seat in Congress

Insurance Journal

Florida’s chief financial officer, Jimmy Patronis, whose office oversees insurance agent and adjuster licensing, along with insurance fraud investigations, plans to step down and run for Congress next year. News outlets reported that Patronis,...

Posted: Nov 27, 2024

Flooding risk presents major credit challenges for Eastern and Southern US: Moody’s 

Reinsurance News

Destructive flooding recently caused by hurricane Helene highlights an increasing flood risk for local economies and tax bases, notably across the Eastern and Southern United States, says Moody’s Ratings. However, according to analysts, as c...

Posted: Nov 27, 2024

Arrests Made in Ring Suspected of Stealing $1M in Lululemon Clothes

Carrier Management

Arrests Made in Ring Suspected of Stealing $1M in Lululemon Clothes A Connecticut couple has been charg...

Posted: Nov 27, 2024

A Cornucopia of Agentic AI Agents: Revolutionizing Industries One Task at a Time

coverager

What Are Agentic AI Agents? Agentic AI Agents are more than just sophisticated algorithms; they are goal-oriented digital systems capable of: Autonomy, Adaptability, Goal Orientation, Context Awareness, Multi-Modal Interaction

Posted: Nov 27, 2024

6 Variations on Producer Licensing for Travel Lines

coverager

Travel lines might fall under P&C. Or maybe it’s a limited line. State variations make producer licensing across states a real challenge.

Posted: Nov 27, 2024

People Moves: Coalition Taps Munich Re’s Foster as Head of London Mkts.; Hamilton Re Expands Into Cr...

Insurance Journal

This edition of International People Moves details appointments at the MGA Coalition and Hamilton Re. A summary of these new hires follows here. Coalition Taps Munich Re’s Foster as Head of London Markets Coalition, the San Francisco-based cybe...

Posted: Nov 27, 2024