Reinsurance News
As per analysts from BMO Capital Markets, tax-related legislation, which is likely to be passed by the Bermudian government this week, “will push GAAP corporate income tax rates materially higher.” Analysts at BMO said that this is a &...
Posted: Dec 13, 2023
Upfort, a cyber security and insurance platform and Arch Insurance, a global provider of specialty risk insurance solutions, have entered into a strategic partnership to transform cyber insurance programs for small and medium-sized enterprises (SM...
Posted: Dec 13, 2023
The London Market Group (LMG) has welcomed the new metrics, on which the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will be asked to report. The list of the metrics, recently published by the UK Treasury, outli...
Posted: Dec 13, 2023
Cyber analytics firm CyberCube has launched Version 5.0 (v5) of Account Manager, the software-as-a-service (SaaS) solution designed for underwriters, with expanded financial quantification insights and several data enhancements. Account Manager v5...
Posted: Dec 13, 2023
Specialist insurer of defined benefit pension schemes, Pension Insurance Corporation plc (PIC) has announced that it has concluded a £65 million full buy-in of the Chemring Group Staff Pension Scheme. From what we understand, the transaction secur...
Posted: Dec 13, 2023
Financial advisory firm KPMG has appointed Huw Evans as its Head of Insurance in the UK, replacing Trevor Jones, who retires in April 2024 and will work closely with Evans to ensure a smooth transition. Karim Haji, Global and UK Head of Financial...
Posted: Dec 13, 2023
Atain Insurance Companies, an insurer and member of H.W. Kaufman Group, has appointed Cara Delestienne as Vice President (VP) and Head of Binding Authority, based in Pittsburgh and reporting to Linc Trimble, Chief Underwriting Officer. In this new...
Posted: Dec 13, 2023
Global advisory, broking, and solutions company, WTW has announced the launch of CyProtect Bermuda, a cutting-edge cyber insurance product designed and tailored to be a comprehensive solution for financial, professional, and executive risks. WTW’s...
Posted: Dec 13, 2023
The Standard Insurance Company has promoted Tony Fung to second vice president of IDI Underwriting and GSI. In his new role, Fung is expected to lead the fully underwritten and Guaranteed Standard Issue Individual Disability Insurance underwriting...
Posted: Dec 12, 2023
In its new strategy cycle through to 2026, reinsurance giant Hannover Re has asserted it aims to showcase “industry-leading performance” in terms of profitability and earnings growth, alongside maintaining its “lasting stability...
Posted: Dec 12, 2023
Nirvana Insurance, an AI and Technology-powered insurance provider specialising in US commercial auto insurance, has entered into a new strategic partnership with specialty re/insurer SiriusPoint to expand its offering with a new non-fleet program...
Posted: Dec 12, 2023
Howden Tiger has appointed Wolfram Schultz as the new Head of Casualty Reinsurance, Continental Europe. Schultz is scheduled to commence his role on February 1st, with his base of operations situated in Cologne, Germany. Reporting directly to Mass...
Posted: Dec 12, 2023
Looking ahead into the coming year for the insurance market, Clyde & Co states that regulators will look to step up scrutiny of insurers and insurtechs in order to protect consumer interests. Whilst insurers have traditionally relied on the co...
Posted: Dec 12, 2023
Property and casualty insurer Chubb has announced the appointment of Federico Spagnoli as Division President, Consumer Lines for Overseas General Insurance, the company’s international general insurance operations. In this newly created role...
Posted: Dec 12, 2023
Fadata, a provider of software solutions for the insurance industry, highlighted the pivotal role of digitalisation in shaping the future of insurance in 2024. The company identifies three major trends, predicting that the adoption of Cloud servic...
Posted: Dec 12, 2023
Mulberri, the AI-driven embedded business insurance platform, has announced its $6.75 million Series A funding round led by Eos Venture Partners, with participation from existing investors Hanover Technology Management, MS&AD Ventures, and Alt...
Posted: Dec 12, 2023
W. R. Berkley Corporation has appointed S. Akbar Khan as president of Preferred Employers Insurance, a specialty provider of workers’ compensation insurance exclusively for California employers. Berkley describes Khan as an accomplished property a...
Posted: Dec 12, 2023
Following seismic activity and a magma dike opening crevasses in Grindavík, Iceland, Hulda Ragnheiður Árnadóttir, director of the Natural Catastrophe Insurance of Iceland, has said the damage to homes and infrastructure could amount to ISK 10 bill...
Posted: Dec 12, 2023
Florida’s homeowner insurers have experienced a positive turn of events in 2023, benefiting from a milder hurricane season and groundbreaking legislative reforms, according to KBRA. The state’s insurance landscape, marred by years of s...
Posted: Dec 12, 2023
Specialist global insurer Hiscox has collaborated with Google Cloud to create the first AI-enhanced lead underwriting model in the London Market insurance industry. According to the announcement, the collaboration combines Hiscox London Market’s r...
Posted: Dec 12, 2023
Ryan Specialty’s transactional risk managing general underwriter, Ryan Transactional Risk (RTR), has appointed Marta Batalla and Luc Joordens as Co-Heads of Continental Europe. Batalla and Joordens first joined Ryan Transactional Risk in 201...
Posted: Dec 12, 2023
McKenzie Intelligence Services (MIS), a provider of geospatial data and analysis to the insurance industry, has secured a strategic investment from Maven Capital Partners (Maven), a private equity firm focused on investing in fast growth businesse...
Posted: Dec 12, 2023
Florida-based HCI Group, Inc. has closed the underwritten public offering of 1,150,000 shares of its common stock at $78 per share, before underwriting discounts and commissions. HCI confirms that this includes the underwriters’ option to pu...
Posted: Dec 12, 2023
According to Fitch Ratings, the outlook for Italian insurance is improving for non-life compared with 2023 actuals, while life remains neutral. Fitch’s non-life sector is improving due to the expectation that widespread tariff increases to m...
Posted: Dec 12, 2023
Despite 99% of financial services leaders in a recent EY survey reporting that their organisations were deploying Generative AI (GenAI) in some manner, over one in five respondents said they are nervous or sceptical about the potential impact of t...
Posted: Dec 12, 2023