Reinsurance News
The Joint Excess Loss Committee of the Lloyd’s Market Association (LMA), an organisation that represents the interests of the Lloyd’s underwriting community, and the International Underwriting Association (IUA), which represents intern...
Posted: Jun 19, 2024
Appian has recently partnered with PwC UK to enhance its ability to deliver innovative services aimed at streamlining processes, improving customer experiences, and boosting operational efficiency for insurance companies on the Appian Platform. Pw...
Posted: Jun 19, 2024
Australian insurer QBE has announced the closure of its North America middle-market segment to “refocus its strategy in the region on those businesses which hold more meaningful market position, relevance and scale.” The segment repres...
Posted: Jun 19, 2024
As large jury verdicts increase in number and cost, many companies do not have adequate liability insurance to cover these losses effectively, a recent analysis by insurance company Chubb has revealed. According to Chubb’s 16th annual Liabil...
Posted: Jun 19, 2024
Reinsurance giant Swiss Re and carbon removal solutions provider, Carbonfuture, have signed a seven-year contract, which will see Swiss Re supply a minimum of 70,000 tonnes of Biochar Carbon Removal (BCR) credits from Carbonfuture partner, Exomad...
Posted: Jun 19, 2024
Brace Underwriting Limited, the Beat Capital-backed, multi-line and alternative risk specialist underwriter, has appointed Michael Davis as Senior Underwriter. Davis holds more than 13 years of industry experience, having previously worked as a pr...
Posted: Jun 19, 2024
Credit rating agency AM Best has downgraded the financial strength rating of reinsurer Sun Re L from B+ (Good) to B (Fair) and lowered its Long-Term Issuer Credit Rating from “bbb-” (Good) to “bb” (Fair). These Credit Ratings are now under review...
Posted: Jun 19, 2024
Large U.S. insurance companies are improving in sharing information about their climate-related risks and strategies, but many gaps and inconsistencies persist; for instance, only 29% disclosed metrics and targets related to climate risks, accordi...
Posted: Jun 19, 2024
Analysts at BMO Capital Markets have estimated that insurer Allstate Corporation will see Q2 2024 catastrophe losses of around $2.65 billion, of which $2.15 billion is made up from May to June. If you recall, the US primary insurer disclosed in Ma...
Posted: Jun 19, 2024
ZA Tech, the next-generation insurance core system SaaS provider, has announced its rebrand as Peak3 and the successful completion of its $35mn Series A fundraising that will accelerate its expansion in the EMEA region. Founded in 2018, Peak3 has...
Posted: Jun 19, 2024
Ledger Investing, the insurtech and insurance-linked securities (ILS) focused venture-backed company, has appointed industry veteran Amy Stern from Pie Insurance as Chief Executive, Reinsurance. With a career that spans over 25 years across the se...
Posted: Jun 19, 2024
AM Best has upgraded the Issuer Credit Rating of PURE Specialty Exchange, citing the firm’s financial flexibility, high-quality assets, and conservative investment portfolio. Spelt out, AM Best has upgraded the Long-Term Issuer Credit Rating...
Posted: Jun 19, 2024
Sydney, Australia headquartered insurer QBE has recently announced the appointment of Jeremy Lau as Chief Underwriting Officer for its Asian business. Lau takes over from Andy White, who is now Group Head of Underwriting Strategy and Performance....
Posted: Jun 19, 2024
Tampa, Florida headquartered property insurer, American Integrity Insurance, is set to grow its footprint with expansion into the State of Georgia, establishing its presence in the region with the launch of a HO-5 homeowners policy for homes up to...
Posted: Jun 19, 2024
Following evaluation from its Board, R&Q has confirmed that it will be filing for a provisional liquidation in Bermuda and that it expects the previously announced sale of Accredited to Onex Corporation to be implemented through that process....
Posted: Jun 19, 2024
The Sustainable Markets Initiative (SMI), a collaborative effort focused on promoting sustainability in global markets, along with Howden, an international insurance group, and Resilient Cities Network (R-Cities), the city-led network on urban res...
Posted: Jun 19, 2024
Verisk’s Extreme Event Solutions business, a global provider of data analytics and technology, has estimated that insurance industry losses from recent flooding in southern Germany will fall between USD 2.6 billion and USD 3.9 billion (EUR 2...
Posted: Jun 19, 2024
Zurich Insurance Company’s acquisition of a majority stake in Kotak Mahindra General Insurance Company Limited, for a total consideration of Rs. 5,560 crores (USD 670 million), makes it the first foreign insurer to enter India since the FDI...
Posted: Jun 19, 2024
Clyde & Co, a law firm that specialises in insurance, trade, and aviation, reports that 67 percent of leaders surveyed find the risk landscape significantly more complex than it was three years ago during the COVID-19 crisis. Complicated and o...
Posted: Jun 19, 2024
Assurex Global, a private commercial insurance, risk management, and employee benefits brokerage group, has announced the addition of Prudent Insurance Brokers Pvt. Ltd., based in Mumbai, India, to the Assurex Global Partnership as of May 1. Estab...
Posted: Jun 19, 2024
Sapiens International Corporation, a global provider of software solutions for the insurance industry, has launched an advanced AI-driven platform designed to enhance insurers’ offerings and processes. The Sapiens Insurance Platform utilises...
Posted: Jun 19, 2024
Hong Kong Export Credit Insurance Corporation (HKECIC) has introduced a new trade credit insurance solution based on SCOR’s alternative data underwriting engine, SCOR Smart Credit, aimed at supporting cross-border e-commerce trade. This new...
Posted: Jun 18, 2024
Canopius, a global specialty and P&C (re)insurer, has announced the appointment of Mark Houghton to the newly created role of Global Product Leader, Specialty. Starting in October, Houghton will oversee the governance, performance, and standar...
Posted: Jun 18, 2024
The Insurance Council of Australia (ICA), the representative body for the Australian insurance industry, praised the New South Wales (NSW) Government’s 2024-25 budget for its significant resilience funding, aimed at improving community prote...
Posted: Jun 18, 2024
Lloyd’s Europe has announced the appointment of Diana Santin as the new General Representative for Italy, pending regulatory approval. According to the announcement, Nicoletta Andreotti, who has been serving as General Representative ad interim, w...
Posted: Jun 18, 2024