Reinsurance News
Lloyd’s and London Market insurance services provider, PoloWorks, has unveiled captive manager, Polo Insurance Managers (PIM) after the Guernsey Financial Services Commission granted ‘approval in principle’. According to the announcement, PIM will...
Posted: Feb 12, 2024
Specialist insurance and reinsurance broker BMS has partnered with Artificial Labs to adopt the algorithmic underwriting specialists Contract Builder. According to BMS, Contract Builder will “seamlessly integrate” into its existing Bro...
Posted: Feb 12, 2024
Specialty re/insurer IQUW has announced the appointment of three senior executives to its Property team, Mike Barrett, Jonathan Powell and Charles Tinworth. The new hires, IQUW stated, will enhance service to brokers and support the strategic grow...
Posted: Feb 12, 2024
Recent storms in California have caused heavy flooding in the state resulting in significant economic losses, many of which may not be insured, warned David Blades, associate director, industry research and analytics at AM Best. He stated: “After...
Posted: Feb 12, 2024
Markel has announced the appointment of Jack Matthews as Underwriter for its War and Terrorism portfolio. According to Markel, Matthews’ primary objectives in the new role will involve supporting the senior members of its War and Terrorism t...
Posted: Feb 12, 2024
Cypress Property & Casualty Insurance Company, a provider of an array of insurance products to clients in Florida and Texas, has selected Taurus Flood to become their flood insurance service provider as they are a new participant in the Nation...
Posted: Feb 12, 2024
The World Bank has revealed that its expanded Crisis Preparedness and Response Toolkit has a focus on offering increased protection against large-scale disasters, enabling the mobilisation of private capital and the ability to transfer the risks o...
Posted: Feb 12, 2024
Vouch, a US-based provider of business insurance, has unveiled AI Insurance, a novel insurance product that helps artificial intelligence (AI) startups survive lawsuits and innovate faster. According to the firm, AI Insurance offers coverage for f...
Posted: Feb 12, 2024
PERILS, the Zurich-domiciled catastrophe insurance data provider and CyberAcuView, an independent US-domiciled cyber insurance data provider, have announced the use of their US Cyber Industry Loss Index in the first cyber insurance risk transactio...
Posted: Feb 12, 2024
Prudential Financial, Inc., has announced that Mike Estep, head of product for Group Insurance, will succeed Yanela Frias as president of its Group Insurance business following Frias’ appointment as Prudential’s CFO. The company explained that the...
Posted: Feb 12, 2024
Specialist insurance provider CFC, has announced the creation of a dedicated team to focus on underwriting tax risk in M&A transactions, to be led by Alejandra Hernandez Irizarry in London and Courtney Alonzo based in New York. The risks cover...
Posted: Feb 12, 2024
Prudential Financial, Inc., a global provider of financial services, closed a pension risk transfer transaction with Shell USA, Inc., assuming $4.9 billion in pension obligations for 21,500 of the company’s US retirees. As a result of this transac...
Posted: Feb 09, 2024
Mercury Insurance, a property and casualty insurer, has appointed Simon Zhang to the newly created position of Chief Data and Analytics Officer, as part of the firm’s ongoing effort to utilize advanced data analytics to drive business growth...
Posted: Feb 09, 2024
Parametric re/insurance solutions can be a “beacon” in a challenging market environment as they can provide clients an alternative to traditional products, alongside catastrophe bonds, industry-loss warranties (ILW’s) and retrocession, Augment Ris...
Posted: Feb 09, 2024
DUAL North America has appointed Mike Sherry as the new Head of its Transactional Risk division, splitting his time between San Francisco and New York. Sherry’s remit in the new role includes the responsibility for the strategic direction an...
Posted: Feb 09, 2024
Fidelis Insurance Holdings Limited, the Bermuda-domiciled re/insurer, has hired James Dumelow as Corporate Communications Director, where he will report to Miranda Hunter, Head of Investor Relations. He joins the re/insurer with nearly 15 years of...
Posted: Feb 09, 2024
The hijacking of the Galaxy Leader cargo vessel by the Houthi group and other attacks in the Red Sea has resulted in the diversion of ships towards a longer route, this alongside the cancellation of war cover for these vessels has led to higher ma...
Posted: Feb 09, 2024
AXA XL, the P&C and specialty risk division of global insurer AXA, has appointed Jonathan Kelly as Head of Product Recall – UK & Lloyd’s and Global Underwriting Practice Leader. Kelly has been with AXA XL since 2018. He joined the firm tak...
Posted: Feb 09, 2024
European P&C insurance run-off group, Marco Capital Holdings has announced the launch of Marco Re as the new brand of its recently merged Guernsey subsidiaries Humboldt Re and Kelvin Re. Marco Capital announced the acquisition of Humboldt Re i...
Posted: Feb 09, 2024
Specialty insurance provider, Trisura Group, has posted $25.9 million operating net income in the fourth quarter of 2023, which the company said was achieved through measured growth, profitable underwriting and enhanced investment income – support...
Posted: Feb 09, 2024
Verisk, a global data analytics and technology provider, has introduced an automated generative artificial intelligence (generative AI) record summary capability in its Discovery Navigator platform. Aimed at property and casualty claims profession...
Posted: Feb 09, 2024
As market conditions remain strong, and with no meaningful new capacity entering the market, Everest Group expects conditions for upcoming renewals to remain excellent, according to Juan Andrade, President and Chief Executive Officer of the Bermud...
Posted: Feb 09, 2024
Southlake Specialty, part of Southlake Financial Holdings, a Texas-based group of fronting carriers, has agreed to acquire Nevada General Insurance Company from Western National Mutual Insurance Company. Nevada General Insurance Company is a Prope...
Posted: Feb 09, 2024
Global insurance provider RSA Insurance has strengthened its UK Specialty Lines business with the addition of two new underwriters, John Lawrence and Henry Henderson. UK Specialty Lines is part of Intact’s Global Specialty Lines, which offers inte...
Posted: Feb 09, 2024
Demand for parametric covers from corporates and public entities will continue to increase to provide quick liquidity after a disruptive event, address gaps in traditional insurance coverage, and cover non-traditional risks, according to Aon’...
Posted: Feb 09, 2024