Reinsurance News
Verisk, a global data analytics and technology provider, has appointed Greg Hendrick as an independent director of its Board of Directors, effective immediately. Lee Shavel, President and Chief Executive Officer, Verisk commented on the appointmen...
Posted: Apr 02, 2024
The Pacific Catastrophe Risk Insurance Company (PCRIC) and the United Nations World Food Programme (WFP) have partnered aiming to reinforce disaster risk financing in the Pacific region. A Memorandum of Understanding (MoU) has been signed by PCRIC...
Posted: Apr 02, 2024
Core Specialty has been highlighted as being Duck Creek Technologies’ first customer transacting its Duck Creek OnDemand subscription on Microsoft’s commercial marketplace to use its existing Microsoft Azure Consumption Commitment (MACC). In...
Posted: Apr 02, 2024
KGM, DUAL UK’s specialist motor MGA, has appointed Ciaran Astin as its Managing Director, subject to regulatory approval. The MGA noted that this appointment is in line with its strategy to attract industry-leading talent to realise its growth amb...
Posted: Apr 02, 2024
Insurtech Faura has successfully raised $500k to help insurance companies and homeowners reduce their natural disaster risk. Cities throughout the US have been impacted by natural catastrophes, like wildfires in Maui and flooding across the Northe...
Posted: Apr 02, 2024
Insurtech Faura has successfully raised $500k to help insurance companies and homeowners reduce their natural disaster risk. Cities throughout the US have been impacted by natural catastrophes, like wildfires in Maui and flooding across the Northe...
Posted: Apr 02, 2024
W. R. Berkley Corporation has announced that its Union Standard Insurance Group is rebranding to Berkley Southwest to better reflect its commitment to serving the needs of clients and partners in the U.S. Southwest. Berkley Southwest, led by presi...
Posted: Apr 02, 2024
The April 1st, 2024, reinsurance renewals were “more predictable and generally favorable to reinsurance buyers,” with pricing broadly flat for property catastrophe reinsurance, according to insurance and reinsurance broker Aon. AonR...
Posted: Mar 28, 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has formally launched with a significant strategic investment from Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital. Led by Dave Ingrey as Chief Execut...
Posted: Mar 28, 2024
Parametric insurance is becoming more mainstream and has become a great tool to complement traditional insurance as the potential devastating impacts of perils like earthquakes increase, Megan Linkin commented in a recent interview with Reinsuranc...
Posted: Mar 28, 2024
Insurance broker and risk advisor Marsh has appointed Alexander Pui as Senior Vice President, Climate and Sustainability Consulting, for Marsh Asia. A renowned figure within the sector, Pui was named the Risk Leader of the Year by the Risk Managem...
Posted: Mar 28, 2024
Oka, The Carbon Insurance Company (Oka)™ has announced that it has closed a $10-million investor raise that “sets the foundations for its next phase of growth.” Lead investors included Aquiline Capital Partners LP and firstminut...
Posted: Mar 28, 2024
London’s High Court has decided that the $10 billion battle between reinsurers and a host of aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be heard in London rather than Moscow, as per a new report...
Posted: Mar 28, 2024
Global investment firm GIC has completed the acquisition of Cinven’s shares in Miller, a transaction that “secures long-term independent future for Miller as a leading specialist broker.” Having announced GIC’s acquisition plans back in December 2...
Posted: Mar 28, 2024
The Fidelis Partnership, formerly known as Fidelis MGU, has confirmed that Lloyd’s has granted “in principle” approval for the launch of Syndicate 3123 in collaboration with Fidelis Insurance Holdings Limited (Fidelis Insurance Group), a global sp...
Posted: Mar 28, 2024
John Neal, Chief Executive Officer (CEO) of the specialist Lloyd’s insurance and reinsurance marketplace, said this afternoon that the Baltimore bridge event provides an opportunity for the industry to show the value of insurance. “I&#...
Posted: Mar 28, 2024
According to a recent Reinsurance News poll, over 80% of industry respondents anticipate the use of parametric triggers in reinsurance arrangements to rise in 2024. Parametric news has featured heavily in our pages so far this year, though admitte...
Posted: Mar 28, 2024
Velonetic has revealed that the market cutover to Blueprint Two phase one digital services will move from July 2024 to a target date of October 2024, a decision driven by feedback shared by market participants and their respective market associati...
Posted: Mar 28, 2024
Chubb Personal Risk Services (PRS) has launched Flood Insurance System, a new self-service platform designed to give agents quicker access to flood quotes. Integrated with the Chubb Agent Portal and Masterpiece EZ Quote homeowners platform, this n...
Posted: Mar 28, 2024
Mosaic Insurance, a specialist firm, has extended its political risk coverage to the US market and launched a new insurance product named Arbitration Award Default Insurance (AADI), offering a global coverage limit of $65 million. AADI is designed...
Posted: Mar 28, 2024
Ki, the digital and algorithmically driven Lloyd’s follow platform, has entered into a multi-year partnership with Beazley by adding the insurer’s capacity to its platform. This partnership will include Ki offering additional follow capacity from...
Posted: Mar 28, 2024
Analysts at Moody’s Investors Service anticipate that trade credit insurers will maintain strong underwriting discipline in 2024, supported by robust financial reserves, despite an increase in insolvencies and claims resulting from a global econom...
Posted: Mar 28, 2024
Depending just how long the Port of Baltimore is blocked for after the collapse of the Francis Scott Key Bridge, and the nature of the Port’s business interruption coverage, insured losses could land between $2 billion and $4 billion, accord...
Posted: Mar 28, 2024
Hong Kong-based global reinsurer Peak Re has posted a record net profit of $200 million for 2023, despite the year being characterised by high inflation, rising interest rates and a continuation of costly natural catastrophe events. According to t...
Posted: Mar 28, 2024
Independent insurance broker The Ardonagh Group has seen a rise in full year 2023 reported income when compared with the prior year to $1.6 billion, as reported adjusted EBITDA increased 42.5% to $522 million. For 2023, the broker has reported pro...
Posted: Mar 28, 2024