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Insurers in Slovakia to implement Intermap’s flood risk solution for insurance applications
22nd April 2024
KBC Slovakia and UNIQA Slovakia have signed multiyear subscriptions to Intermap Technologies’ Aquarius RMA software and the latest generation of flood risk solutions for Slovakia. Intermap is a provider of geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. ČSOB Poisťovňa and ČSOB ... Read the full article
Tractable AI’s Aleksander Surowiak joins Previsico as Head of Sales
10th April 2024
Live flood forecasting Insurtech Previsico has hired Tractable AI's Aleksander Surowiak as Head of Sales to bolster Previsico’s growth and nurture pivotal partnerships across the insurance industry. Surowiak brings a vast degree of startup scaling experience towards the role, having previously spearheaded sales in Northern and Central Europe at Tractable AI. Previously, ... Read the full article
US commercial P&C rates decelerate in Q1’24, personal lines steady: MarketScout
5th April 2024
Commercial rates in the US went up 3.9% on all property and casualty placements in the first quarter of 2024, a notable decline compared to the plus 5.6% in Q4 2023, while personal insurance rates held steady at plus 4.75% in the period, according to MarketScout. “January and February posted very ... Read the full article
Amwins launches digital platform for streamlined carrier quote access
4th April 2024
Amwins has launched Amwins InstantQuote (Amwins IQ), an online marketplace providing rapid access to firm, bindable quotes from multiple carriers, aiming to combine the convenience of online quoting with the scale of the nation's largest P&C wholesaler. With Amwins IQ, users can instantly obtain quotes, easily compare multiple markets, and promptly ... Read the full article
Florida insurance market continues to strengthen following impactful legislation: OIR
4th April 2024
The Florida insurance market continues to strengthen, showing signs that recent legislation is having positive impacts on the property insurance market, according to the state's Insurance Commissioner Michael Yaworsky. Yaworsky's comments stem from the Florida Office of Insurance Regulation's (OIR) update on the state's property and casualty insurance market. As per the ... Read the full article
Global reinsurer capital up 17% to $670bn in 2023: Aon
3rd April 2024
Global reinsurer capital rose by approximately 17% to $670 billion in 2023, with growth of 17% in traditional reinsurance capital and 16% growth in alternative capital to a new all-time high, according to insurance and reinsurance broker Aon. The broker's April 2024 Reinsurance Market Dynamics report shows that the rebound in ... Read the full article
MGA Devonshire launches to positively disrupt transactional risk insurance market
2nd April 2024
Managing General Agent Devonshire Underwriting has today announced its market launch, focussed on "positively disrupting" the transactional risk (TR) insurance space. The MGA will be led by four founders and partners – Natasha Attray, James Dodd, James Fletcher and Charles Turnham. These specialists hold a collective 30 years of transactional liability underwriting ... Read the full article
Fleming still willing to acquire JRG Re on the right terms: CEO Haller
2nd April 2024
Fleming Insurance Holdings CEO Eric Haller has suggested that while the firm will continue to defend itself against the "meritless lawsuit" recently filed by James River Group Holdings, Fleming remains willing to acquire JRG Re "if James River cures its breaches of the agreement.” If you recall, on the 8th ... Read the full article
April 1 reinsurance renewals more favourable to buyers: Aon
28th March 2024
The April 1st, 2024, reinsurance renewals were "more predictable and generally favorable to reinsurance buyers," with pricing broadly flat for property catastrophe reinsurance, according to insurance and reinsurance broker Aon. Aon's latest Reinsurance Market Dynamics report, scheduled to be released on April 2nd, reveals that market conditions since 1/1 2024 have ... Read the full article
Lloyd’s Syndicate Ki expands digital follow capacity with Beazley partnership
28th March 2024
Ki, the digital and algorithmically driven Lloyd’s follow platform, has entered into a multi-year partnership with Beazley by adding the insurer’s capacity to its platform. This partnership will include Ki offering additional follow capacity from Beazley syndicate 2623/623 through its digital platform from 2 April 2024. Having grown significantly since its launch ... Read the full article
The Ardonagh Group sees reported income rise 33.5% in 2023
28th March 2024
Independent insurance broker The Ardonagh Group has seen a rise in full year 2023 reported income when compared with the prior year to $1.6 billion, as reported adjusted EBITDA increased 42.5% to $522 million. For 2023, the broker has reported pro forma income of $1.9 billion and pro forma adjusted EBITDA ... Read the full article
IRDAI makes regulation changes to develop India’s reinsurance sector
25th March 2024
In a move aimed at fostering a conducive insurance regulatory environment and aiding the systematic development of the country's reinsurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has announced the approval of eight principle-based consolidated regulations. According to the IRDAI, these changes mark a significant milestone in regulatory ... Read the full article
Zurich and Klook launch parametric benefit to provide real-time lounge access for delayed flights
21st March 2024
Zurich Insurance has partnered with travel and leisure e-commerce platform Klook to introduce FlyEasy coverage, which, powered by Zurich Edge platform with micro-services from Blink Parametric, aims to reduce customer stress from long flight delays at airports. Available for Singapore residents, FlyEasy offers travellers real-time, complimentary lounge access - available through ... Read the full article
Insurers exiting high-risk areas as climate losses rise 360%: Bloomberg
14th March 2024
Bloomberg Intelligence (BI) has said that a 360% rise in insured losses in the past three decades from the increased frequency and intensity of natural disasters is causing insurers to "hike premiums and exit high-risk areas,". At the same time, transition risk associated with the assets backing these liabilities is said ... Read the full article
David Wynn joins DWF as Head of Casualty
13th March 2024
DWF, a provider of integrated legal and business services, is expanding its global insurance practice with the appointment of disease and casualty expert David Wynn as a new Partner. Taking over the role of Head of Casualty, Wynn will be based at DWF's Manchester office, he will also be serving as ... Read the full article