Reinsurance News
Specialty managing general agent (MGA) Nirvana has announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £10mn Media Liability line. It has also expanded authority in Technology an...
Posted: Jun 06, 2024
Insurtech Sixfold has raised $15 million in a Series A funding round led by Salesforce Ventures, in a move that is set to enable the company’s expansion to the UK and Europe. The funding round also featured participation from Scale Venture P...
Posted: Jun 06, 2024
Independent specialist re/insurer Apollo has appointed Monica Cramér Manhem as the new Independent Non-Executive Director of Apollo Syndicate Management Limited. Manhem is an industry veteran with extensive experience in various leading roles. Mos...
Posted: Jun 06, 2024
Paul Gooch, Head of Large Account Cyber at Tokio Marine Kiln, has advised companies to adopt the mindset ‘not if, but when’ in their approach to cybersecurity, following the attack on hospitals in London targeting NHS IT firm Synnovis....
Posted: Jun 06, 2024
Sompo, a global provider of commercial and consumer property, casualty, and specialty re/insurance, has announced the appointment of Thomas Leone as Chief Investment Officer. In his new role, Leone will directly report to Nicolas Burnet, SompoR...
Posted: Jun 06, 2024
Pen Underwriting, an Arthur J. Gallagher & Co. subsidiary, has acquired Wrightway Underwriting Limited, a Republic of Ireland-based MGA that specialises in transportation and haulage, for an undisclosed sum. Based in Wexford, Wrightway is a ma...
Posted: Jun 06, 2024
As sales of annuities – notably fixed annuities and fixed-indexed annuities – by U.S. life insurers have ballooned since 2021, S&P Global Ratings explores the challenges facing life insurers. In a recent report released by the firm...
Posted: Jun 06, 2024
In a recent interview with Reinsurance News, Natraj Nukala, Founder of Kshema, the fully digitally powered Indian agricultural insurer, stated that the company is not afraid of competition entering the Indian market post easing of regulations by t...
Posted: Jun 06, 2024
Everest Reinsurance, the reinsurance arm of insurance giant, Everest Group, Ltd., has appointed Mayur Doshi as the Head of North America Treaty Casualty, reporting to Jiten Voralia, Head of North America Treaty Reinsurance. Voralia commented on th...
Posted: Jun 06, 2024
Climate risk-solving insurance provider Understory has announced the closing of its Series A funding round, securing $15 million to drive its expansion into the renewable energy sector. This funding round, co-led by True Ventures and Prelude Ventu...
Posted: Jun 06, 2024
PoloWorks, a collective of Lloyd’s and London Market insurance services businesses, has announced the appointment of Mel Carvill as Chairman of Polo Insurance Managers. Mark Elliott, CEO of Polo Insurance Managers, commented: “We are delighted tha...
Posted: Jun 06, 2024
Aeolus Capital Management and RED – Risk Engineering + Development (RED) have announced a collaborative research initiative focused on assessing earthquake risk. This study will be led by Pete Dailey, Head of Research at Aeolus, renowned for...
Posted: Jun 06, 2024
McKenzie Intelligence Services (MIS), a provider of geospatial data and analysis to the insurance industry, has announced the launch of a cutting-edge AI damage classifier to enhance its human intelligence-led damage assessments for insurers follo...
Posted: Jun 06, 2024
Insurers are set to keep increasing their private credit holdings throughout the coming years, with almost 80% saying they plan to increase their holdings of at least one class of private credit over the long term, according to a recent analysis b...
Posted: Jun 06, 2024
Global re/insurance marketplace, Lloyd’s has announced the opening of a new office in Miami, a move that is designed to strengthen its Latin America and Caribbean business. The new office, which will open from 1 September 2024, will enable Lloyd’s...
Posted: Jun 05, 2024
The California Earthquake Authority (CEA) has renewed $3.73 billion of reinsurance in 2024 so far, having secured almost $1.2 billion in new protection at the April 1st renewals. At the end of 2023, the earthquake insurer had $9.1 billion of prote...
Posted: Jun 05, 2024
Specialist Risk Group’s managing general agent (MGA), MX, has recently secured a new capacity agreement with Accredited Insurance (Europe) Limited (AIEL), which significantly boosts MX’s capacity in the UK and Ireland. Established in 2...
Posted: Jun 05, 2024
Earlier today it was announced that Ambac Financial Group had signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited. This afternoon, a conference call was held which involved members of Ambac and Beat, d...
Posted: Jun 05, 2024
Majesco collaborates with Microsoft to develop Majesco Copilot, which integrates cutting-edge generative artificial intelligence (GenAI) into the company’s solutions to revolutionise and encourage operational optimisation across the insurance indu...
Posted: Jun 05, 2024
Ambac Financial Group, Inc., an insurance holding company, has announced it is to sell its legacy financial guarantee businesses, Ambac Assurance Corporation (AAC) and Ambac UK (AUK), to funds managed by Oaktree Capital Management, L.P.. The compa...
Posted: Jun 05, 2024
Insurance broker Verlingue has established a new dedicated construction practice to be led by Harvey Monk, Sales Director South, who will work with a team of specialists from across the company. The broker launched this new practice to serve the U...
Posted: Jun 05, 2024
Moody’s has changed the outlook for the US property & casualty (P&C) personal insurance sector to stable from negative, reflecting continued improvement in underwriting results. According to the rating agency, insurers in this sector...
Posted: Jun 05, 2024
Alta Signa Europe B.V., the European boutique managing general agent (MGA), is expanding its presence in the DACH region by opening a new office in Switzerland. This new office will have access to high-quality insurance options from trusted partne...
Posted: Jun 05, 2024
Following the launch of Connected Underwriting Life Workbench in North America last year, Appian, a software company that automates business processes, in partnership with Swiss Re, has made the solution available in select countries in Asia Pacif...
Posted: Jun 05, 2024
Ambac Financial Group has signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners Limited, a London-based insurance underwriting and managing general agency (MGA) incubation platform, for approximately $282 millio...
Posted: Jun 05, 2024