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DUAL, the specialist underwriting arm of Howden Group Holdings, has significantly strengthened its European marine capability by acquiring Swiss Re’s Genoa-based Marine team, and has authority to write marine business for the global reinsure...
Posted: Apr 16, 2024
King Insurance Partners, considered one of the fastest-growing U.S. brokerages, has added another producer to its lineup: The Dave Alton Agency, with offices in Greenville, Plymouth and Washington, North Carolina. The Alton agency, in business for tw...
Posted: Apr 16, 2024
The U.S. cyber insurance line generated strong direct underwriting profits for the second straight year in 2023, but written premium volume has stalled amid renewed pricing pressure, according to a Fitch Ratings analysis. For standalone cyber coverag...
Posted: Apr 16, 2024
Coalition, an active cyber insurance provider, has revealed new integrations between Coalition Control, its cyber risk management platform, and cloud services providers, which includes Microsoft 365, Google Workspace, and Amazon Web Services. It h...
Posted: Apr 16, 2024
With rising cyber threats, the U.S. cyber insurance market faces hardening conditions in 2024, as KYND Ltd.'s survey reveals increased rates and underwriting standards. The post
Posted: Apr 16, 2024
Four people, including a Cuban-born former Major League Baseball player who earned more than $15 million in his playing career, have been charged with staging an auto accident and defrauding an insurance carrier. Yuniesky Betancourt, 42, who played n...
Posted: Apr 16, 2024
INSUREtrust, formerly housed in Starwind, has integrated into the Wholesale Brokerage Division of CRC Group, a wholesale specialty insurance distributor in North America, to form a cyber practice group. This strategic combination broadens INSUREtr...
Posted: Apr 16, 2024
The first quarter Small Business Index, which measures small business owner confidence, is 62.3—similar to last quarter’s score of 61.3—reflecting a stable business climate. More small businesses see an improving economy, which drove the headli...
Posted: Apr 16, 2024
SageSure, an MGU focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (SURE) have closed the Gateway Re 2024-2 second and subsequent event catastrophe bond at $130 million. The issuance marks SURE’s second succes...
Posted: Apr 16, 2024
Insurance Business Magazine - US
Posted: Apr 16, 2024
As P&C carriers and reinsurers retool for the future, three innovations rise above others as a potential path forward for homeowners insurance.
Posted: Apr 16, 2024
Aspen will be the sole cedant to Pando Re and PIMCO will be the exclusive investment manager for Pando Re.
Posted: Apr 16, 2024
PoloWorks, a Lloyd’s and London Market insurance services business, has announced the appointment of Raphael Borrel to the role of Chief Risk Officer (CRO). In his new position, Borrel will be responsible for leading the risk and compliance functi...
Posted: Apr 16, 2024
Brokerslink has announced that cyber security business McAfee has joined its broking network as a ‘B.Tech affiliate’. By integrating McAfee’s industry-leading consumer cybersecurity expertise into its network, Brokerslink aims to support the...
Posted: Apr 16, 2024
Beat Capital Partners, a London-based venture capital investor that focuses on the insurance industry, announced it is planning to launch a specialty and tech-enabled credit non-payment insurance underwriter. Called “Convergence,” the bus...
Posted: Apr 16, 2024
Berkshire Hathaway Specialty Insurance (BHSI), the property & casualty insurer, is expanding its global marine capabilities in the US by launching Ocean Marine Insurance. The firm has also appointed Ben Wyatt as Head of Marine, and Chris Frick...
Posted: Apr 16, 2024
Jensten Group, the London-based independent insurance broking group, announced it will invest up to £1 million (US$1.3 million) this year to help 15 individuals start their own independent brokerages. The investments will be made through Coversure, t...
Posted: Apr 16, 2024
Analysts at JMP Securities report that while the property catastrophe reinsurance market is attracting more capital, recent significant changes in terms and conditions are expected to sustain strong returns despite anticipated minor price reductio...
Posted: Apr 16, 2024
Mark Zuckerberg won his bid to avoid personal liability in about two dozen lawsuits accusing Meta Platforms Inc. and other social media companies of addicting children to their products. US District Judge Yvonne Gonzalez Rogers, who is overseeing the...
Posted: Apr 16, 2024
Inflation continues to have an effect on property exposures with sums insured for European windstorm increasing by 10.1% year-on-year at constant euro exchange rates, at similar levels to 2023, according to PERILS AG, the independent Zurich-based com...
Posted: Apr 16, 2024
UnitedHealth Group expects to take a hit of as much as $1.6 billion this year from disruptions caused by the February cyberattack at its Change Healthcare unit. Despite the disruptions, UnitedHealth still beat estimates for first-quarter adjusted pro...
Posted: Apr 16, 2024
MGA iprism, a specialist in Construction, Property, Commercial and High Net Worth, has announced the appointment of Adrian Saunders to its board as Non-Executive Director. Saunders brings a wealth of experience to iprism, boasting over 24 years of...
Posted: Apr 16, 2024
More than two dozen river barges broke loose from their moorings and floated down the Ohio River in Pittsburgh, striking one bridge that had already been preemptively closed and damaging a marina, officials said. The boats eventually were pinned to &...
Posted: Apr 16, 2024
Fitch Ratings’ analysis of the 2023 Italian Insurance Dashboard reveals a significant downturn in net inflows for the Italian life insurance sector for both traditional savings and unit-linked products. According to analysts at Fitch, this d...
Posted: Apr 16, 2024
Generali Global Corporate & Commercial (GC&C), subsidiary of the Italian insurance giant, has hired Patricia Puerta as the firm’s new GC&C Head of Mediterranean & Latin America, effective May 2, 2024. She joins the company wi...
Posted: Apr 16, 2024
Beat Capital Partners, a long duration investor specialising in the insurance industry, has announced its plans to launch a specialty and tech enabled credit non-payment insurance underwriter, Convergence. With an initial focus on Europe and North...
Posted: Apr 16, 2024
Chaucer, the global specialty re/insurance firm has bolstered it’s leadership team, with the appointments of James Wright, the company’s current Chief Risk Officer (CRO), who has been named the firm’s new Chief Financial Officer...
Posted: Apr 16, 2024
Howden, the global insurance intermediary group, has announced the acquisition of Curran Connolly & Company (Drogheda) Ltd, a commercial and personal lines insurance broker based in County Louth, Ireland. With this acquisition, Howden builds i...
Posted: Apr 16, 2024
This post is part of a series sponsored by AgentSync. As the property and casualty market struggles to find its equilibrium, carriers and reinsurers are retooling their approach to risk and the market. As a Floridian myself, seeing reinsurers pull &#...
Posted: Apr 16, 2024
MS Reinsurance has named Andy Hottinger to lead the growth of its European, Middle East and Africa (EMEA) property and casualty (P&C) business. Hottinger holds 20 years of experience in reinsurance underwriting, having previously held leadersh...
Posted: Apr 16, 2024
An El Niño weather event has ended, Australian weather authorities said on Tuesday, adding that they were uncertain if a La Niña phenomenon would form later this year, as other forecasters have predicted. The cycle between the two is hugely …
Posted: Apr 16, 2024
San Diego, CA. April 16, 2024 — Today, Carrier Management announced the agenda and speakers for The InsurTech Summit 2024. This event will provide valuable insights not found elsewhere and is designed for: carrier executives, entrepreneurs and invest...
Posted: Apr 16, 2024
Aspen Insurance Holdings and PIMCO Investment Management Company have formed Pando Re, a Bermuda-domiciled collateralized (re)insurer focused on casualty business. Aspen will reportedly be the sole cedant to Pando Re and PIMCO will be its exclusiv...
Posted: Apr 16, 2024
Dutch-headquartered chipmaker Nexperia was victim of a hacking attack by cyber criminals last month, the Chinese-owned company said on Friday, and was investigating the incident with the help of outside specialists. “Nexperia has become aware t...
Posted: Apr 16, 2024
Electric car sales already are in a funk in key markets around the globe. Challenges finding enough repair technicians threatens to further stifle demand in the UK, where consumer uptake has stagnated for the better part of two years. A …
Posted: Apr 16, 2024
Insurance Business Magazine - US
Posted: Apr 16, 2024
Leftover blazes from last year’s record wildfire season in Canada are threatening to knock out almost 3% of the country’s natural gas production. A total of 50 so-called zombie fires still smoldering beneath layers of snow are located nea...
Posted: Apr 16, 2024
Lightstone and Converge RE II have announced the appointment of Craig Buck as Chief Executive Officer (CEO) of Converge US, effective May 1, 2024. A renowned figure across the industry, Buck has held a number of different roles throughout his car...
Posted: Apr 16, 2024
Executive Summary: When Mark Cloutier took the helm of Aspen to return the company to profitability, he knew a vital first step would begin with its group of talented people. There were cultural challenges that needed addressing along with the …...
Posted: Apr 16, 2024
U.S. insurance brokerage Alliant Insurance Services has acquired Property Owners Protection Insurance Company, LLC (POPIC), a national captive program manager serving owners and managers of multifamily and single-family residential portfolios. Thi...
Posted: Apr 16, 2024
Posted: Apr 16, 2024
Latin Re has become the first Brazilian reinsurance broker to license RiskExplorer™, the advanced risk management software developed by Ultimate Risk Solutions (URS). RiskExplorer is well known for its sophisticated modeling capabilities. I...
Posted: Apr 16, 2024