Reinsurance News

Your search for “matic”

BMA & White Rock joint action violates automatic stay provision, says Vesttoo

21st August 2023

In a recent filing to the U.S. bankruptcy court, insurtech Vesttoo has said that joint action launched in the Supreme Court of Bermuda by the Bermuda Monetary Authority (BMA) and Aon's White Rock (SAC) Ltd. last week, violates the automatic stay under its Chapter 11 cases. On Friday, the BMA ... Read the full article

BoE’s PRA thematic review reveals concerns over general insurance claims inflation

28th June 2023

In a recent thematic review conducted by UK regulator the Prudential Regulation Authority (PRA), part of the Bank of England, across the general insurance sector, concerns have been raised regarding the impact of claims inflation on general insurance claims. The review focused on how insurance firms have responded to a previous ... Read the full article

U.S. hurricane losses to increase by 10% over 20 years due to changes in climatic activity: Aon

21st June 2023

Aon plc, the global professional services firm, has revealed how its academic collaborations are progressing climate science, enhancing catastrophe model development and helping organizations to fulfil Environmental, Social and Governance mandates. Aon’s work with Columbia University has revealed that under selected scenarios, U.S. hurricane losses would increase by at least 10% ... Read the full article

Howden announces UK launch of Telematics Data Services

31st May 2023

International insurance broker Howden, has announced the launch of its Telematics App & Data Beacon ‘Howden Drive’ in the UK insurance market to help lower motor insurance premiums for customers. Howden Drive will also help to optimise loss ratios for brokers and insurers, as well as to improve road safety. Its ... Read the full article

Business intelligence & telematics latest risk mitigation trends in P&C: Waterstreet

9th March 2023

Business intelligence and telematics will be the latest trends in the property and casualty (P&C) insurance industry emerging for the second quarter, a recent analysis by insurance solutions provider Waterstreet Company has revealed. The company’s findings also highlighted the importance of innovative technologies and practices that reduce risk and improve the ... Read the full article

Customers are ready for telematics motor insurance products: Swiss Re

30th January 2023

There is a significant target market for telematics motor insurance products, a recent survey by IoT Insurance Observatory and the Automotive and Mobility Solutions team at Swiss Re has confirmed. Telematic insurance products have been going through years of development and refinement, despite this they are not mainstream yet, Swiss Re ... Read the full article

Swiss Re partners with insurtech Jooycar to boost auto insurance telematics

2nd November 2022

Global reinsurance giant Swiss Re has entered an alliance with Latin American auto insurtech Jooycar to boost auto insurance telematics benefiting small and medium-sized commercial fleets in Mexico. The insurtech will offer its fleet management service, "Fleetr by Jooycar", to the Mexican market, which it states was a success in its ... Read the full article

Hurricane Ian to “dramatically” impact Florida rates: MarketScout

7th October 2022

Analysts at MarketScout, a Managing General Agent, Lloyd's Coverholder and wholesale broker, have suggested that losses from Hurricane Ian will “dramatically” impact insurance pricing across both commercial and personal lines. MarketScout data shows that the commercial market composite rate for the third quarter 2022 increased 5.28%, with property rates up 7.67%. It’s ... Read the full article

Fairmatic raises $42m in funding round, Aquiline among leaders

2nd September 2022

Following its latest Series A funding round, insurtech company Fairmatic has raised a total of $42M from Aquiline Technology Growth, Foundation Capital, and other insurtech, fintech and technology angel investors. The funding comes at a time of development for Fairmatic, having emerged from stealth with a C-suite of insurance and technology ... Read the full article

Vida Capital says ‘dramatic change’ to R&Q leadership and strategy would be ‘counterproductive’

17th August 2022

Investment firm Vida Capital, Inc. has today expressed its support of both the current leadership and strategy of R&Q Insurance Holdings Ltd. Vida Capital Management currently manages funds owning some 9.07% of the outstanding shares of R&Q. In a statement, the company, which is a vertically integrated, uncorrelated investment firm specialising in ... Read the full article

Insurance premiums to reach record highs due to inflation, climate change – Matic

1st July 2022

Matic, an insurtech platform, says that home insurance premiums in the US are rising faster than ever before, increasing at a record rate of 5.5% between June 2021 and May 2022. According to Matic’s 2022 mid-year findings, which aggregated data from a random sample of 70,000 insurance policies, a ... Read the full article

Cyber buyers should “prepare to face dramatic premium increases”

21st June 2022

As cyber markets continue to limit their exposure, buyers should be prepared to face dramatic premium increases or non-renewals if they are unable to demonstrate certain minimum-security standards, according to WTW’s 2022 Spring update.  Primary and excess cyber renewals are now averaging premium increases in excess of 200% ... Read the full article

Renewal rate increases imply dramatically better returns: KBW

6th January 2022

Analysts at KBW have said that rate increases for property and casualty business at the January 1 reinsurance renewals imply “dramatically improved expected returns” for reinsurers. Although individual cedents' rate changes varied widely, property catastrophe reinsurance rate increases were measured at around 9% globally and 6.5% in the US, according to ... Read the full article

Berkshire Hathaway GUARD selects new commercial fleet telematics program

11th December 2020

Berkshire Hathaway GUARD, a subsidiary of Warren Buffett’s global re/insurer, has selected IMS to provide a new commercial fleet insurance program. TrackMRI (Monitor, React, Improve) is a commercial fleet insurance telematics solution that includes device logistics support, data collection, scoring, fleet behaviour assessment and program analytics. As part of the program, IMS ... Read the full article

McGill & Partners highlights “dramatic” early growth, names key hires

18th December 2019

Specialty risk solutions business McGill & Partners, founded this year by insurance broking veteran Steve McGill, has grown its employee headcount from five to 134 and is set to oversee $250 million of premium flow going into 2020. The build-out and growth of the business was financed through an initial ... Read the full article