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A record $8.4 billion of catastrophe bond and related insurance-linked securities (ILS) issuance occurred in the second quarter of 2024, taking first half issuance to a new high of $12.6 billion, and the outstanding market to a record $48 billion,...
Posted: Jul 02, 2024
Specialist insurer Beazley has appointed Lucien Mounier as Head of Europe, Cyber Risks. Reporting to Alessandro Lezzi, Head of International Cyber Risks, Mounier will be responsible for the establishment and oversight of Beazley’s cyber portfolio...
Posted: Jul 02, 2024
Monument Re has announced that its Belgian subsidiary, Monument Assurance Belgium, has successfully acquired a branch 21 closed book classical group life insurance portfolio from Contassur. Koen Depaemelaere, CEO of Monument Assurance Belgium and...
Posted: Jul 02, 2024
CRESTA, a provider of insurance industry loss data on non-US catastrophe events which have driven losses of above $1 billion, has released the Q2 2024 update of its CRESTA Industry Loss Index (CLIX), revealing that aggregate losses in the first ha...
Posted: Jul 02, 2024
Westfield, a US-based property and casualty company, has announced a new program designed to help prevent home electrical fires. The new solution, Ting, uses advanced smart plug-in sensors to monitor the electrical network of a home to help detect...
Posted: Jul 02, 2024
Coverys Limited, part of the company’s dedicated London platforms which include both insurance company and MGA operations, (collectively Coverys London), has launched as a company market underwriting platform following approval from the Prud...
Posted: Jul 02, 2024
Specialist reinsurance broker, CG Re (Africa) Ltd has announced the opening of its London office, part of the company’s expansion strategy to become an international and global reinsurance broker. The new office, which will open from 10 July 2024,...
Posted: Jul 02, 2024
Global insurance and reinsurance broker Aon has announced the appointment of Lisa Stevens to the newly established role of Chief Administrative Officer. In her new role, Stevens will continue to oversee the firm’s People Organisation, with expande...
Posted: Jul 02, 2024
Insurtech wefox Holding AG, at its General Meeting, saw investors reaffirm their support for the company by providing an immediate fresh capital injection of €25 million. This capital will support the ongoing restructuring efforts for which the co...
Posted: Jul 02, 2024
Jack Kuhn, president of Westfield Specialty, discusses the latest happenings and opportunities for his business and insurance at large at RISKWORLD 2024. The post
Posted: Jul 02, 2024
Japan’s four top property and casualty insurers, along with other financial firms, are planning to sell around ¥500 billion ($3.1 billion) worth of shares in Honda Motor Co., Reuters reported. Tokio Marine Holdings Inc., Sompo Holdings Inc. and...
Posted: Jul 02, 2024
Reinsurance Group of America, Incorporated (RGA) has reached an agreement with Tongyang Life Insurance Company for an RGA subsidiary to reinsure a 200 billion Korean Won (KRW) (USD 144m) in-force block of life policies through coinsurance, marking...
Posted: Jul 02, 2024
Insurtech firm Lemonade has successfully renewed its reinsurance program, led by the same tier-one carriers as the expiring treaty, the 2024 placement was oversubscribed on all dimensions as the company secured improved terms. At the program’s cor...
Posted: Jul 02, 2024
A political tilt to the right in Europe and a potential Trump presidency in the U.S. will not derail climate efforts as businesses are increasingly locked into green strategies, delegates at London Climate Action Week heard. A big election year, R...
Posted: Jul 02, 2024
Labuan International Business and Financial Centre (Labuan IBFC), an Asian financial hub known for its insurance, reinsurance, Islamic finance, and digital business solutions, achieved significant growth in 2023, with continued expansion expected...
Posted: Jul 02, 2024
China’s new financial stability law draft bill improved provisions on financial risks prevention and control, according to draft revisions released on Monday. Revisions to the draft bill underwent the second round of review by China’s top...
Posted: Jul 02, 2024
Cytora, a digital risk processing platform, brings fast, reliable, and secure address capture capabilities with the integration of Autoaddress’ Address Capture into its underwriting productivity tool. Autoaddress delivers accurate address an...
Posted: Jul 02, 2024
Insurance Business Magazine - US
Posted: Jul 02, 2024
Insurer Allianz Trade and credit and political risk insurance broker, BPL, have launched a collaboration to transform the way underwriters and brokers share enquiry data using Application Programming Interface (API) integration through the indepen...
Posted: Jul 02, 2024
Howden, a global insurance intermediary group, has appointed four new hires to its aviation division, including former Gallagher Partner Matthew Giddings, and hull war expert Mike Hart. As part of the Howden Aviation team, Hart is going to leverag...
Posted: Jul 02, 2024
Scientists tracking the spread of bird flu are increasingly concerned that gaps in surveillance may keep them several steps behind a new pandemic, according to Reuters interviews with more than a dozen leading disease experts. Many of them have been...
Posted: Jul 02, 2024
Hurricane Beryl has reached Category 5 strength, the earliest ever in the Atlantic, as the storm headed toward Jamaica with house-wrecking winds and heavy rainfall. Maximum sustained winds have increased to 160 miles (260 kilometers) per hour with hi...
Posted: Jul 02, 2024
Fitch Ratings, a financial analysis and credit rating agency, reports that the political uncertainty in France, stemming from President Emmanuel Macron’s call for an early parliamentary election, has not impacted the ratings of French insure...
Posted: Jul 02, 2024
Executive Summary: For a multinational insurance company like Zurich Insurance Group, which can find itself delivering large, complex policies in multiple languages to a single international customer, there’s a logical use case for Gen AI’...
Posted: Jul 02, 2024
Hackers' Tactics Just Keep Morphing PaulCarroll
Posted: Jul 02, 2024
Research provider MSCI and global ratings agency, Moody’s Corporation, have entered a strategic partnership aimed at enhancing transparency in ESG and sustainability and improving decision-making capabilities by leveraging each other’s stren...
Posted: Jul 02, 2024
The US Justice Department will charge Boeing Co. with criminal fraud, leaving the planemaker to choose between pleading guilty or taking the risk of going to trial, according to people familiar with the matter. Boeing has until the end of …
Posted: Jul 02, 2024
The Supreme Court’s move to curb federal agency powers could curtail efforts by the U.S. Securities and Exchange Commission to establish new rules to police Wall Street and invite more litigation, legal experts said in the wake of Friday’...
Posted: Jul 02, 2024
CDK said on Monday it anticipates all dealers to be live on its dealer management system (DMS) by late July 3 or early morning on July 4. The company, which provides software to car dealerships, had briefly shut down all …
Posted: Jul 02, 2024
Domestic workers in Rhode Island will now be paid the state’s minimum wage under a bill signed into law by Democratic Gov. Daniel McKee. Traditionally, domestic workers haven’t been given that protection as the Rhode Island minimum wage h...
Posted: Jul 02, 2024
CHARLESTON, W.Va. (AP) — The head of the national mine workers’ union on Friday condemned what he characterized as an effort by House Republicans to block enforcement of a long-awaited federal rule directed at curbing workers’ exposure to...
Posted: Jul 02, 2024
A South Carolina man with a long criminal history has pleaded guilty to multiple insurance fraud and identity fraud schemes that had netted him more than $139,000. Marcus Blair, of Florence, South Carolina, has been convicted 18 times previously and...
Posted: Jul 02, 2024
The Florida Insurance Guaranty Association now has an auto insurance representative on its board. Florida Chief Financial Officer Jimmy Patronis announced last week that he has appointed D. Ryan West, the senior director of physical damage claims at...
Posted: Jul 02, 2024
Marsh McLennan, a global re/insurance broker, has appointed Sarah Triggs to the newly created role of Marsh McLennan UK Healthcare Industry Leader. Based in London, Triggs is expected to join the business in Q3 2024 and will have a reporting line...
Posted: Jul 02, 2024
The White House is seeking roughly $4 billion in additional emergency funding from Congress for costs related to the collapse and repair of the Francis Scott Key bridge in Baltimore and to respond to other disasters that have occurred around …
Posted: Jul 02, 2024
Arthur J. Gallagher & Co. acquired Rancho Cucamonga, California-based Cornerstone Commercial & Personal Insurance Services Inc. Phil Hakopian, Allison Hakopian and their team will remain in their current location under the direction of Scott...
Posted: Jul 02, 2024
Insurance brokerage Relation Insurance Services reports it has acquired the assets of York Insurance Services, Inc. in Forest Hill, Maryland. The transaction went into effect on May 31, 2024. Terms of the transaction were not disclosed. York owner Bu...
Posted: Jul 02, 2024
Projected changes to California workers’ comp claims frequency and severity due to industry mix of employment are negligible through 2026, while employment in most industries fully recovered from the initial pandemic related changes by the end...
Posted: Jul 02, 2024
One80 Intermediaries (One80), an insurance broker based in Boston, announced the launch of GeneBridge, an innovative product designed to reduce the financial burden of high-cost gene therapy claims. Matthew Power, President, One80, commented: “Wit...
Posted: Jul 01, 2024
This post is part of a series sponsored by AgentSync. Salesforce is a powerhouse across complex industries, and insurance is no exception. Many carriers and agencies alike choose Salesforce as their client relationship management (CRM) system. For in...
Posted: Jul 01, 2024
Posted: Jul 01, 2024