Reinsurance News
Financial services company Athene Holding Ltd. has confirmed plans to sell $600 million of 5.875% senior unsecured notes due 2034, the proceeds of which will be used to expand its insurance operation. The offering is expected to close on December...
Posted: Dec 08, 2023
As GenerativeAI (GenAI) continues to expand across the insurance and reinsurance sector, Elad Tsur, Co-Founder and CEO of Planck, explained during a recent interview with Reinsurance News how the technology can play a key advantage in helping to r...
Posted: Dec 08, 2023
Wakam, a B2B2C insurance firm has announced a series of leadership hires. Among these appointments is Anouk Bara, who joins Wakam as VP Finance & Corporate Legal and brings over 25 years of expertise across a number of major blue-chip companie...
Posted: Dec 08, 2023
Cerchia, a provider of decentralised risk transfer solutions, has successfully integrated a cyber cat industry-loss index, featuring data sourced from PCS (Property Claim Services), expanding its risk transfer capabilities, beyond classical Nat Ca...
Posted: Dec 08, 2023
Global credit ratings agency AM Best is revising the outlook on India’s non-life insurance segment to Stable from Negative. The agency cited a number of factors towards the outlook. This includes: robust growth potential, driven by economic develo...
Posted: Dec 08, 2023
Global insurtech Novidea has announced the launch of its insurance management platform in Southeast Asia to meet escalating demand for digital transformation in the region. With its open API architecture, Novidea enables brokers, agents, MGAs/MGUs...
Posted: Dec 08, 2023
In the face of ongoing macroeconomic and geopolitical turbulence, the global insurance industry is navigating a landscape marked by inflation, interest rates, regulatory factors, supply chain disruptions, skills gaps, and geopolitical tensions. EY...
Posted: Dec 08, 2023
Following a heavy year of losses, renewing aggregate reinsurance will likely be a challenge for Italian insurers, according to insights from investment bank Berenberg. Analysts believe the greatest challenge insurers in Italy will face in 2024 is...
Posted: Dec 08, 2023
Moody’s has announced its outlook remains negative for the global property & casualty (P&C) insurance sector, based on “continued weak underwriting results in personal lines, particularly in the US and Europe.” Writing in...
Posted: Dec 08, 2023
The insurance industry needs to be cautious about how it positions itself to support the now operational Loss and Damage fund and not over promise on what it can deliver, Dr. Simon Young, Senior Director, Climate and Resilience Hub at WTW, told Re...
Posted: Dec 08, 2023
Specialist re/insurance broker Miller has launched a new artificial intelligence (AI) tool, MillerMo, based on technologies from Microsoft and OpenAI. It was designed to enable Miller employees – more than 800 people across its UK and intern...
Posted: Dec 08, 2023
Crédit Agricole Assurances’ P&C insurance subsidiary Pacifica has made its debut venture into the insurance-linked securities (ILS) market with the sponsoring of a €160 million catastrophe bond issued by Taranis Re DAC, a special purpose...
Posted: Dec 08, 2023
Pan-African focused insurer and reinsurer, Africa Specialty Risks (ASR), has now received ‘in-principle’ approval to launch a Lloyd’s syndicate in 2024, which aims to begin underwriting in March 2024 with a focus on underwriting business across Af...
Posted: Dec 08, 2023
A Memorandum of Understanding (MOU) has been signed at the 26th ASEAN Insurance Regulators’ Meeting & 49th ASEAN Insurance Council Meeting, to establish the ASEAN Renewable Energy Pool (AREP), which will support ASEAN governments’ renewa...
Posted: Dec 08, 2023
In a recent report titled “Hail No! Defending Solar from nature’s cold assault,” GCube Insurance underscores the urgent need for practical solutions to the growing threat of hailstorms on the solar industry. With climate change-induced...
Posted: Dec 08, 2023
The National Association of Insurance Commissioners (NAIC) membership has voted to adopt the Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers during the 2023 Fall National Meeting. “This initiative represents a c...
Posted: Dec 08, 2023
Assured Guaranty Municipal Corp., a subsidiary of financial guaranty insurer Assured Guaranty Ltd., has insured $800mn of bonds for the JFK International Airport’s New Terminal One project. The bonds insured by AGM are part of a $2 billion issue o...
Posted: Dec 08, 2023
Igloo, a regional insurtech has closed a US$36 million Pre-Series C funding round. Global investment firm Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, led the investment. At the same time, Openspace and La Maison,...
Posted: Dec 08, 2023
The California Earthquake Authority (CEA) is hopeful it will be able to successfully renew $2.2 billion of expiring reinsurance limit at the upcoming January 1st, 2024, renewals, which is its largest syndicated placement, amid a continuation of hi...
Posted: Dec 07, 2023
After a request from the Lloyd’s Market Association (LMA) Board, Velonetic and the Lloyd’s marketplace have decided to move the launch date of phase two of Blueprint Two digital services (which includes the Digital Gateway) to April 2025. Earlier...
Posted: Dec 07, 2023
Allstate’s CEO, Tom Wilson, unveiled key insights into the company’s underwriting and growth strategy at the Goldman Sachs 2023 US Financial Services Conference, expressing confidence in the overall trajectory of the business while sim...
Posted: Dec 07, 2023
Rosetta Risk Management (RRM) has secured investment from Howden Ventures, which is set to “accelerate its transition to a fully tech-enabled construction insurance MGA.” Currently a SaaS platform, RRM said it will aggregate constructi...
Posted: Dec 07, 2023
Concert Group Holdings, Inc. a privately owned insurance holding company, has promoted Alison Davidsen to the newly created role of Chief Operating Officer. Davidsen joined Concert in July 2022 taking on the role of Vice President, Client Manageme...
Posted: Dec 07, 2023
The International Underwriting Association (IUA) has welcomed Claire McDonald, a Member of the Executive Board for HDI Global SE, as the new Chair. She will formally take over the position on January 1, 2024. McDonald – who is replacing Phil...
Posted: Dec 07, 2023
Global Indemnity Group, LLC, a provider of specialty property and casualty insurance coverages, has suspended the exploration of the sale or merger of Penn-America, Global Indemnity’s insurance group, and Global Indemnity itself at this time. Saul...
Posted: Dec 07, 2023