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Akur8, the AI-driven insurance pricing solution, has acquired Arius, the property & casualty (P&C) reserving software for insurers and reinsurers, owned by Milliman. The Arius software helps insurers manage risk and improve financial perfo...
Posted: Sep 09, 2024
Global insurance and reinsurance group Aon has introduced the Growth Decision Framework, a consulting service designed to help insurers enhance decision-making for optimal performance and market cycle resilience. As insurers approach the January 2...
Posted: Sep 09, 2024
At least 14 people have died and 176 others injured in Vietnam after Typhoon Yagi slammed the country’s north, state media said Sunday, as officials warned of heavy downpours despite its waning power. Described by Vietnamese officials as one of...
Posted: Sep 09, 2024
In its latest cyber report, reinsurance broker Lockton Re evaluates vulnerability scanning tools and highlights the need for multiple methods to assess and manage cyber risk amid growing digital complexity. As digital networks become more complex,...
Posted: Sep 09, 2024
California homeowners could be required to pay a surcharge if the state’s insurer of last resort is unable to cover losses from a catastrophic wildfire. The California Department of Insurance sent a bulletin to insurance companies this week out...
Posted: Sep 09, 2024
A fast-growing wildfire in Southern California, has burned 27 square miles, forcing thousands to evacuate had is putting roughly 35,000 homes and buildings at risk. The Line fire near San Bernardino more than quadrupled in size over the weekend, prom...
Posted: Sep 09, 2024
The U.S. Commerce Department said Monday it is proposing to require detailed reporting requirements for advanced artificial intelligence developers and cloud computing providers to ensure the technologies are safe and can withstand cyberattacks. The...
Posted: Sep 09, 2024
Elementum, an alternative investment manager, has announced the appointment of Andreas von Reitzenstein as the new Senior Vice President (SVP), Underwriting at its Hamilton office. In his new role, von Reitzenstein will be a key member of the inve...
Posted: Sep 09, 2024
Insurance Business Magazine - US
Posted: Sep 09, 2024
US life insurers are increasingly turning to the Cayman Islands for reinsurance; however, Moody’s Ratings considers this trend a net credit negative for the sector due to heightened counterparty risk, reduced international recognition, and less tr...
Posted: Sep 09, 2024
Alphabet Inc.’s Google heads back to court Monday to face US Justice Department allegations that it manipulates the $677 billion display advertising market in violation of antitrust laws, just one month after losing a landmark ruling that it il...
Posted: Sep 09, 2024
Specialty reinsurer BMS Re announced the appointment of Anthony Mirabal as CEO of the Latin America and Caribbean (LAC) Division, effective November 2024. Mirabal has more than 30 years of experience in reinsurance, first as a casualty underwriter wi...
Posted: Sep 09, 2024
The global specialty reinsurance market has stabilised after a period of disruption marked by sharp rate fluctuations, tighter terms and conditions, and rising attachment points, according to James Boyce, CEO of Global Specialties at Guy Carpenter...
Posted: Sep 09, 2024
The re/insurance industry plays a pivotal role in supporting the global shift towards renewable energy, which is crucial for both the climate and the future of the global economy, says Howden Re, the reinsurance and risk advisory arm of Howden. Th...
Posted: Sep 09, 2024
The reinsurance market has reached an equilibrium, with increased capital supply from accumulated earnings meeting higher demand for reinsurance protection from cedents. As such, margins will peak in 2024, although reinsurers should continue to produ...
Posted: Sep 09, 2024
The latest people news in the industry today. The post Amelie Fava-Verde Appointed as Senior Vice Presid...
Posted: Sep 09, 2024
Speaking in PwC’s executive breakfast briefing at the 66th Rendez-Vous de Septembre (RVS) in Monte Carlo, Lloyd’s CEO John Neal emphasised the critical nature of the re/insurance market, noting that perhaps for the first time ever, it...
Posted: Sep 09, 2024
Coalition today announced the creation of its reinsurance intermediary, Coalition Re, to provide capacity for cyber reinsurance treaties and expand on its mission to protect more unprotected businesses. Coalition Re provides capacity for non-proporti...
Posted: Sep 09, 2024
The latest people news in the industry today. The post Josh Korzon Steps Up as Chief Operating Officer for the Northeast at...
Posted: Sep 09, 2024
Bermuda-based re/insurance start-up, Mereo Insurance, sees the current market opportunity as very attractive and is expected to be operational for the January 1st, 2025, reinsurance renewals. As reported by our insurance-linked securities (ILS) fo...
Posted: Sep 09, 2024
The latest people news in the industry today. The post Jared Wise Named Chief Risk Officer at Penn State appeared first on
Posted: Sep 09, 2024
Reinsurance broker Lockton Re is planning to add between 80 to 90 new people to the company this year as part of its growing strategy as it focuses on growing the business’ infrastructure to deliver “the highest possible service levels.” “We conti...
Posted: Sep 09, 2024
The latest people news in the industry today. The post Theresa Biedermann Promoted to SVP at Berkshire Hathaway Specialty I...
Posted: Sep 09, 2024
Global reinsurer QBE Re is in growth mode, and as the firm pivots towards a longer-term view of the business and the client base continues to shift, deeper and more enduring relationships are paramount, according to Jamie Cook, Chief Partnership O...
Posted: Sep 09, 2024
BATON ROUGE, La. (AP) — An abandoned, 22-story building in Lake Charles, Louisiana — once an icon in the city that became a symbol of destruction from hurricanes Laura and Delta — was imploded Saturday after sitting vacant for nearly …
Posted: Sep 09, 2024
The Lloyd’s market continues to outperform US and Bermudian reinsurers on loss experience, however underwriting performance remains subject to volatility due to its exposure to catastrophe risks and long-tail lines of business, according to...
Posted: Sep 09, 2024
Four years after COVID-19, many companies are still battling supply chain challenges. Have we learned anything? The post
Posted: Sep 09, 2024
September is National Suicide Prevention Month. Dr. Joel Axler of Brown & Brown marks the occasion with a conversation about the ongoing importance of mental health awareness and education, and proactive strategies employers are utilizing.
Posted: Sep 09, 2024
BMS Re, the reinsurance division of global broker BMS Group, has announced the appointment of Anthony (Tony) Mirabal as CEO of its Latin America and Caribbean Division, effective November 2024. Mirabal will report to Nick Gillett, CEO of BMS Inter...
Posted: Sep 09, 2024
Swiss Re expects growing demand for reinsurance protection to be a key topic of discussion at the 2024 Rendez-Vous de Septembre. As it has been noted, there has been a growing demand for protection in property and specialty lines driven by elevate...
Posted: Sep 09, 2024
Demand for reinsurance protection is strong in Europe and is expected to remain so in 2025, but it’s important that structural corrections achieved in the past two years are maintained, according to Clarisse Kopff, Member of the Board of Managemen...
Posted: Sep 09, 2024
Posted: Sep 09, 2024
Posted: Sep 09, 2024
Posted: Sep 09, 2024
ANDERSON, Ind. (AP) — A single-engine plane traveling from Iowa to Indiana crashed in a central Indiana cornfield Friday, killing everyone on board, authorities said. The plane left Fort Dodge, Iowa, just after 6:45 a.m. and was projected to land ...
Posted: Sep 09, 2024
Coalition, an active insurance provider focused on preventing digital risks before they occur, has launched Coalition Re, a reinsurance intermediary offering active cyber reinsurance through two products supported by Aspen-led capacity. Coalition...
Posted: Sep 09, 2024
Despite an unsettled 12 months, recent deal activity heavily suggests that the market for legacy transactions remains strong, with the North American market in particular showing resilience, bouncing back after a quiet 2023. A new analysis from Pw...
Posted: Sep 09, 2024
Large European reinsurer Hannover Re is seeing robust demand for “high-quality” reinsurance protection and is well placed for profitable growth ahead of the January 1st, 2025, reinsurance renewals. This morning, Hannover Re discussed current reins...
Posted: Sep 09, 2024
Insurance Business Magazine - US
Posted: Sep 09, 2024
According to Isabelle Clausner, VP, client executive – EMEA at Xceedance, opportunities for re/insurers to enhance operations with GenAI are many and varied, and although it will take a lot of work and introspection to achieve individual aims, the...
Posted: Sep 09, 2024
Insurance origination and distribution specialist Amwins is expanding its reinsurance broking capabilities, with the latest being the move of part of the Equinox Re team from Price Forbes Re to the company, including Nick Foden-Pattinson and Jere...
Posted: Sep 09, 2024
Wisconsin health officials initiated a recall of eggs following an outbreak of salmonella infections among 65 people in nine states that originated on a Wisconsin farm. The Wisconsin Department of Health Services said in a statement Friday that among...
Posted: Sep 09, 2024
BMS Group (BMS), the independent specialist re/insurance broker, has appointed Anna Painter as Head of Global Healthcare Technical Operations, a newly created role based in London. Painter will report to Rob Wendin, Managing Director of the Global...
Posted: Sep 09, 2024
A new report from Marsh McLennan and Zurich titled “Closing the cyber risk protection gap” is calling for a closer collaboration between the insurance industry and the public sector as cyber insurance coverage gaps remain. “Both the...
Posted: Sep 09, 2024