Reinsurance News
Fathom, the flood risk intelligence organisation, part of reinsurance giant Swiss Re, and catastrophe model developer Aon’s Impact Forecasting, have been granted a contract by Public Safety Canada, to enhance its understanding of flood hazar...
Posted: Aug 13, 2024
The United States has been hit with record heat, wildfires and Hurricane Beryl in July alone, with the country experiencing the second highest number of year-to-date billion dollar disasters, according to the National Oceanic and Atmospheric Admin...
Posted: Aug 13, 2024
Aegis Professional Risk, part of Aegis General Insurance Agency and K2 Insurance Services, has partnered with Sentry Insurance to launch a new Errors and Omissions (E&O) program. Sentry will offer primary and excess coverage up to $5 million f...
Posted: Aug 13, 2024
Meanwhile, the first and only life insurer operating entirely in Bitcoin (BTC), has received regulatory approval from the Bermuda Monetary Authority (BMA) to function as a permanent commercial long-term insurer. This approval follows MeanwhileR...
Posted: Aug 13, 2024
Global re/insurance broking group Aon has announced the appointment of Nick Nudo as Senior Managing Director of Reinsurance for Chicago, effective immediately. Nudo joins Aon from SCOR, where he worked for over 14 years most recently as chief unde...
Posted: Aug 13, 2024
Property and casualty insurer Skyward Specialty Insurance Group Inc. has entered the mortgage re/insurance market and announced that Jean-Philippe “JP” Latour will lead the new unit. In support of this new venture, Latour joined the firm in May 20...
Posted: Aug 13, 2024
The surplus lines market in the state of Florida, US, yielded $1.6 billion in premiums for the month of July, marking a 21% increase compared to July 2023, according to the Florida Surplus Lines Service Office. In its most recent FL Premium Report...
Posted: Aug 13, 2024
Arch Insurance North America has partnered with Cytora, the digital risk processing platform, in a move that is set to further digitise the company’s risk intake and streamline underwriting workflows. From what we understand, Arch Insurance...
Posted: Aug 13, 2024
INSTANDA, a no-code, digital platform for insurance carriers and managing general agents, has hired Professor Andy Pardoe to the position of interim Chief AI Officer, where he will work directly with INSTANDA’s Co-Founder and CEO, Tim Hardcastle,...
Posted: Aug 13, 2024
Analysts at JMP have described the recent selloff in Skyward Specialty Insurance shares as “overdone”, attributing it largely to a misinterpretation of details in the company’s 10-Q disclosure. This misunderstanding, they argue,...
Posted: Aug 13, 2024
Global property and casualty (P&C) insurer Chubb has announced three executive appointments in its finance organisation, effective September 4th, 2024. George Ohsiek has been named Vice President of Chubb Group and Chief Accounting Officer, su...
Posted: Aug 13, 2024
Liberty Mutual Reinsurance (LM Re), a division of Liberty Mutual Insurance Group, has announced a new collaboration with Insurtech firm Sprout, Inc. and Britam, a financial services company serving as the local underwriter. Together, they are intr...
Posted: Aug 13, 2024
Milliman, a global consulting and actuarial firm, estimates that the total economic cost of remediating perfluoroalkyl and polyfluoroalkyl substances (PFAS) contamination in US drinking water systems will range from $120 billion to $175 billion. P...
Posted: Aug 13, 2024
Miller, the independent specialist reinsurance and insurance broker, has appointed Cedric Thevenot as an Account Executive for Sports and Entertainment, effective September 2nd 2024. He is based in Paris, working closely with Didier Loiseau, Head...
Posted: Aug 13, 2024
Flood Re has appointed Tony Ballance to its Board of Directors as a Non-Executive Director, where his expertise in sustainability and regulation will reportedly be invaluable as climate change continues to intensify and increase flood risk, ahead...
Posted: Aug 13, 2024
hyperexponential, a pricing platform for global re/insurers, has observed that while new technology has opened up significant opportunities, issues with the broader ecosystem and outdated systems are hindering innovation and limiting insurers̵...
Posted: Aug 13, 2024
The International Underwriting Association (IUA) has announced the appointment of two new staff members to its secretariat supporting companies in the London re/insurance market, May El Mantawy and Faye Hepburn. El Mantawy and Hepburn have both st...
Posted: Aug 13, 2024
Insurity, a provider of cloud software for insurance carriers, brokers, and MGAs, has released insights from its 2024 Severe Weather P&C Consumer Pulse survey. This survey highlights consumers’ concerns about their property and casualty...
Posted: Aug 13, 2024
Global insurers Allianz and Fortegra have strategically partnered with Jetty, the fintech company, to provide reinsurance for all new policies written under its core products Jetty Deposit and Jetty Renters Insurance. Jetty, the US domiciled finte...
Posted: Aug 13, 2024
Credit insurer Coface has reported its first half of 2024 results with an improved combined ratio of reinsurance and a net income of €142.3 million, up 10% compared to the same period the year prior. For H1 2024 the insurer also recorded a consoli...
Posted: Aug 13, 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has signed an agreement with Thailand’s CHAZ Insurance Brokers to offer expertise in Parametric and Trade Credit Insurance. Kairos will assist CHAZ with marketing a...
Posted: Aug 13, 2024
Analysts at Morningstar DBRS predict that the total insured losses from the recent UK riots will be manageable for British insurers, estimating that they will remain below £250 million. The impact on the insurance industry is expected to be limite...
Posted: Aug 12, 2024
Insurance brokerage firm, Brown & Brown has announced the appointment of Stephen P. Hearn to its board of directors. H. Palmer Proctor, Jr., Brown & Brown’s lead independent director and chair of the Nominating/Corporate Governance Committ...
Posted: Aug 12, 2024
Global specialist insurer Hiscox has gone live with its Google Cloud-backed generative artificial intelligence (AI) underwriting model for sabotage and terrorism insurance quotes. Considered the London insurance market’s first underwriting model o...
Posted: Aug 12, 2024
African Risk Capacity (ARC) Ltd., the parametric insurer and financial affiliate of the ARC Group, has released its 2023 annual report, revealing a net profit of $13 million, a significant recovery from a $29 million loss over the past two years....
Posted: Aug 12, 2024