Reinsurance News
Counterpart, an AI-driven management and professional liability insurtech has entered into a new partnership with Westfield Specialty Insurance, to provide an admitted product for Counterpart’s small business customers and, for the first time, non...
Posted: Jun 13, 2024
WindBorne Systems secures $15 million in Series A funding to expand its balloon constellation AI weather modelling, aimed at mitigating weather-related losses. With extreme weather events on the rise, the World Economic Forum (WEF) has identified...
Posted: Jun 13, 2024
INSUREtrust, a cyber insurance and risk management specialty broker within CRC Group, has hired Sonja Kozel as Senior Vice President. In her new role, Kozel will focus on broadening the group’s footprint through internal collaboration as well as e...
Posted: Jun 13, 2024
The Insurance Council of Australia (ICA) has announced that insured damages from the severe storms that hit Queensland, New South Wales, and Victoria during the Christmas and New Year period have exceeded $1.2 billion, with more than 97,000 claims...
Posted: Jun 12, 2024
Business owners are focusing on preparing for the unforeseeable as they worry their business insurance will not cover specific losses, a recent study by insurance broker Gallagher has found. A survey was conducted among 1,000 US business owners wh...
Posted: Jun 12, 2024
According to findings from Deep Sky, a Canadian carbon removal project developer, the frequency of extreme fire risk in the US has surged by 20 times. Deep Sky Research and its Wildfire Risk Model reveal that what used to be a once-in-a-century oc...
Posted: Jun 12, 2024
Truist Insurance Holdings (TIH), an insurance brokerage in the US, announced recently the appointment of Mike Conway as Chief Financial Officer (CFO), effective June 10. Conway brings over 30 years of experience in leading large, complex business...
Posted: Jun 12, 2024
Newly formed CRC / INSUREtrust Cyber Practice Group has entered a new exclusive wholesale partnership with Darkweb IQ to help clients prevent ransomware attacks by leveraging exclusive visibility into the criminal ecosystem. CRC Group, a wholesale...
Posted: Jun 12, 2024
Moody’s, a credit rating agency, has released a report highlighting that European property and casualty (P&C) insurers are facing a structural, rather than cyclical, increase in vulnerability to weather events. This change is primarily d...
Posted: Jun 12, 2024
Following on from last year’s challenging property insurance market, 2024 is proving to be a “more stable and capitalized market,” according to USI Insurance Services. In their latest Commercial Property & Casualty Market Out...
Posted: Jun 12, 2024
The Federal National Mortgage Association (Fannie Mae) has executed its fourth Credit Insurance Risk Transfer (CIRT) transaction of 2024, transferring $284.8 million of mortgage credit risk to private insurers and reinsurers. 25 insurers and reins...
Posted: Jun 12, 2024
Nascent Group, an insurance management and reinsurance transformer company, has received its insurance management licence to operate in the Cayman Islands, enabling it to offer ILS, reinsurance, and captive management services in this region. This...
Posted: Jun 12, 2024
Lockton Re, the reinsurance arm of independent insurance broker, Lockton, has announced that Andy Wakefield will be joining the company as a Senior Broker within its Marine & Energy division later this year. In the role, he will be based in Lo...
Posted: Jun 12, 2024
Insured losses from hurricane events – which are expected during what is predicted to be a very active 2024 Atlantic Hurricane season – will be particularly impacted by demand surge related cost increases for building materials and lab...
Posted: Jun 12, 2024
Amwins has released its State of the Market: A Focus on Builders Risk report, highlighting a notable shift in market dynamics from the previous year, characterised by increased capacity helping to drive more competitive terms and conditions. The r...
Posted: Jun 12, 2024
The Dubai International Financial Centre Insurance Association (DIFCIA), an association comprised of the whole insurance, reinsurance, and wealth management sectors within the DIFC and wider insurance related services, has announced a reciprocal m...
Posted: Jun 12, 2024
Property and casualty re/insurer AXA XL’s alternative capital team has selected Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, to provide strategic support for a portion...
Posted: Jun 12, 2024
Increasing weather-related natural disasters not only cause property damage but also pose serious risks to supply chains, leading to business interruptions and potential economic slowdown, according to Swiss Re’s 2024 SONAR report. Swiss Re highli...
Posted: Jun 12, 2024
Hamilton Insurance DAC, the designated activity company of Bermudian re/insurer Hamilton Insurance Group, has appointed Ross Reynolds as Chief Executive Officer, subject to regulatory approval. Reynolds, who is also joining the Hamilton Insurance...
Posted: Jun 12, 2024
Global insurance and reinsurance broker Aon has collaborated with the U.S. International Development Finance Corporation (US DFC) on a new $350 million insurance program designed to accelerate new capital investments and economic recovery in Ukrai...
Posted: Jun 12, 2024
hyperexponential, a company specialising in pricing decision intelligence solutions, and Send, a provider of underwriting workbench capabilities, have joined forces in a partnership which integrates their technologies to create a comprehensive pri...
Posted: Jun 12, 2024
Invictus Capital Partners, an alternative credit asset manager, recently announced the launch of its new Insurance Solutions Business, which will be led by Senior Managing Director, Carl D. Bell. The launch of the Insurance Solutions Business addr...
Posted: Jun 12, 2024
Argenta Holdings Ltd, a subsidiary of Hannover Re, has hired Niranjan Nathan as group chief risk officer, subject to regulatory approvals. He assumes the role from Carol-Ann Burton, who will continue to serve as group general counsel and complianc...
Posted: Jun 12, 2024
AM Best has downgraded Louisiana Farm Bureau Mutual Insurance Company credit ratings and assigned them a negative outlook, a move that reflects the company’s deterioration of its key balance sheet strength. Louisiana Farm Bureau Financial Strength...
Posted: Jun 12, 2024
CFC, an insurance provider known for emerging risks in the cyber insurance market, has announced a significant update to its fintech insurance coverage. This revamped offering, available in the UK, Canada, and Australia, provides a streamlined, co...
Posted: Jun 12, 2024