Reinsurance News
Your search for “cyber attack”
Reinsurance News – Wednesday 9th November 2016
9th November 2016
Here’s your daily Reinsurance News for Wednesday 9th November 2016: Low cat losses helps Munich Re's operating profit rise in Q3 Reinsurance giant Munich Re has released its Q3 results, posting a net income of €684 million, and €2.1 billion for the first nine months of the year. Low ... Read the full article
Reinsurance News – Friday 4th November 2016
4th November 2016
Here’s your daily Reinsurance News for Friday 4th November 2016: IAG adding to NZ quake reinsurance reflects ongoing loss creep It's been revealed that IAG New Zealand has extended its reinsurance cover to help pay for claims from the Canterbury quakes, purchasing $900 million of adverse development cover. Read the full article
Reinsurance News – Thursday 3rd November 2016
3rd November 2016
Here’s your daily Reinsurance News for Thursday 3rd November 2016: 9 month 2016 net income down by $700 million at Swiss Re, combined ratio up Reinsurance giant Swiss Re has reported its results for the first nine months of the year, posting a net income of $3 billion, compared with ... Read the full article
Reinsurance News – Tuesday 9th August 2016
9th August 2016
Here’s your daily Reinsurance News for Tuesday 9th August 2016: Munich Re Q2 profit down to €974 million as nat cat losses rise Global reinsurer Munich Re has reported its second-quarter 2016 results, posting a consolidated profit of €974 million, down from the €1.075 billion reported a year earlier. ... Read the full article
Reinsurance News – Tuesday 26th July 2016
26th July 2016
Here’s your daily Reinsurance News for Tuesday 26th July 2016: Reinsurance losses may be sufficient to install pricing floor: Macquarie Analysts at Macquarie have said that global catastrophe losses sustained in the second-quarter of 2016 might be enough to establish a pricing floor at the January 2017 renewal. ... Read the full article
Reinsurance News – Thursday 21st July 2016
21st July 2016
Here’s your daily Reinsurance News for Thursday 21st July 2016: $30 billion of insured losses in H1 from nat cats, highest since 2011 Reinsurance broker Aon Benfield has revealed that global catastrophes in the first-half of 2016 caused an insurance industry loss of $30 billion, and a global economic ... Read the full article
Qubit completes Pre-Series A fundraising to bolster growth and research
10th April 2024
Qubit Underwriting, a Managing General Agent (MGA) recently launched in Hong Kong specialising in digital asset insurance, has successfully completed its Pre-Series A fundraising. The raised funds will help to fuel Qubit’s expansion efforts to reach global markets and bolster research and development initiatives, particularly in harnessing artificial intelligence for underwriting. Having ... Read the full article
Moody’s forecasts strong underwriting discipline for trade credit insurers in 2024
28th March 2024
Analysts at Moody’s Investors Service anticipate that trade credit insurers will maintain strong underwriting discipline in 2024, supported by robust financial reserves, despite an increase in insolvencies and claims resulting from a global economic downturn. Moody’s observes a persistent increase in corporate defaults in early 2024, which is expected to lead ... Read the full article
Preparing insurers for future Generative AI advancements: MAPFRE
20th March 2024
In a recent report conducted by Spanish insurer MAPFRE, a framework of actions is presented for insurers to consider in anticipation of potential advancements in Generative Artificial Intelligence (AI), aimed at mitigating risks and fostering a positive impact on society. The report, titled, “Exploring tomorrow: the role of insurers in a ... Read the full article
Resilience enhances incident response capabilities with BreachQuest acquisition
22nd February 2024
Resilience, a cyber risk management firm, has fortified its position in combating cyber threats by acquiring BreachQuest, an innovative incident response technology solution. With the digital landscape evolving rapidly and risks escalating, this strategic move aims to enhance incident response mechanisms, particularly against Business Email Compromise (BEC) attacks, which have emerged ... Read the full article
Insurance industry responds to evolving risks with innovation and collaboration: Allianz
23rd January 2024
In the face of growing concerns over the insurability of modern risks such as cyber threats and climate-related disasters, the insurance industry is stepping up its game, according to the recently published Allianz Risk Barometer 2024. The report highlights that cyber security has become the top global risk, with cyber-attacks and ... Read the full article
Insurance market expected to develop new forms of cover for war risks in 2024: DAC Beachcroft
19th January 2024
The insurance market is expected to continue developing new forms of cover for war risks throughout 2024, according to analysts from international insurance law firm, DAC Beachcroft. In a report released by the firm, analysts highlighted how insurance of war risks has been confined predominantly to marine and aviation hull, however ... Read the full article
Cowbell to cover UK mid-market businesses with up to £1bn turnover
8th January 2024
US-domiciled cyber insurer Cowbell has extended its cyber insurance capabilities by now catering to mid-market businesses in the UK with an annual turnover of up to £1 billion. Previously, the insurer only catered to small and medium-sized enterprises. The cyber insurer is backed by A+ rated re/insurers, and officially entered the UK ... Read the full article
Insurers remain cautious about adopting AI for customer-facing activities: EY
6th December 2023
It should not come as a surprise that insurers are remaining somewhat cautious about adopting AI for customer-facing activities, especially given the lack of regulatory clarity. However, the opportunities to use AI technology to differentiate the value proposition and enrich customer experiences cannot be overlooked, according to EY. The company states that ... Read the full article
Canopius grows cannabis insurance offerings in transportation and distribution
13th November 2023
Canopius Group, a global specialty lines re/insurer, has expanded its cannabis insurance product, now covering transportation of cannabis products from cultivation to distribution. The re/insurer started to underwrite cannabis-exposed risks in April 2023. This offering is for privately owned and not-for-profit organisations in US states where medical and recreational adult-use ... Read the full article