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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
Nirvana Insurance capacity growth supported by top-tier reinsurers
11th March 2024
Commercial insurer Nirvana Insurance has announced it has doubled capacity with the support of a number of top-tier reinsurance partners, becoming one of the fastest-growing trucking insurers of all time. Driven by artificial intelligence (AI), telematics, and computer vision, Nirvana was founded in 2021 looking to improve safety for everyone on ... Read the full article
More advanced & specialised conversational AI to be developed in the near term: AM Best
11th March 2024
Credit ratings agency AM Best has revealed that it expects to see more advanced and specialised conversational AI developed over the near term to handle more complex situations across the insurance industry. As many are aware, insurers have been very active by adopting AI for customer service via conversational AI, which is ... Read the full article
DeNexus new Executive Cyber Risk Report to streamline compliance to SEC regulation
8th March 2024
DeNexus US users are to benefit from the firm's newly launched DeRISK Executive Report, a solution that will automatically map cyber risk metrics to SEC requirements for annual reporting of cyber risk management and governance. The Executive Report and the cyber risk analyses detail an estimation of Annual Expected Losses and ... Read the full article
Inigo, Samsara launch data-driven product to revolutionise fleet insurance
4th March 2024
Inigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets. Inigo plans to utilise Samsara's telematics data to develop a new type of insurance product tailored ... Read the full article
Echo Re uses ACORD’s ADEPT for seamless data exchange with Guy Carpenter
4th March 2024
Echo Reinsurance Limited (Echo Re), a global reinsurer, has recently announced its adoption of ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform and Translator) to streamline digital data exchange with Guy Carpenter. ADEPT, developed by ACORD, is designed to facilitate real-time data exchange, translation, and transformation, making it easier for industry ... Read the full article
AXA XL’s US Mid-Market insurance business rolls out XL Plus
27th February 2024
AXA XL has announced that it's US Mid-Market insurance business is extending its general liability coverage for mid-size businesses by rolling out its new XL Plus broadening endorsement, which offers more than two dozen expanded protections. According to the company, the XL Plus endorsement expands the scope and depth of coverage. AXA ... Read the full article
AXA XL’s CoR strengthens to 93.2% as GWP hits €53bn in 2023
22nd February 2024
Global insurer AXA's P&C and specialty risk division, AXA XL, recorded a 4.2 percentage point improvement in its combined ratio in 2023 to 93.2%, as gross written premiums (GWP) and other revenues rose 7% year-on-year to €53 billion, despite a reduction in the reinsurance arm. At AXA XL Reinsurance, premiums decreased ... Read the full article
Coalition report reveals rising cyber threats amidst business vulnerabilities
22nd February 2024
Coalition, an active cyber threat insurance provider, has released its Cyber Threat Index 2024, offering insights into cybersecurity trends from 2023 and emerging threats for 2024. The index projects a substantial 25% increase in common vulnerabilities and exposures (CVEs) for 2024, totalling 34,888 vulnerabilities. Tiago Henriques, Head of Research at Coalition, ... Read the full article
Miller named EVP and CSO of Topsail Re and President of Capital Partners unit
21st February 2024
Topsail Re has announced that Christopher Miller has joined as Executive Vice President and Chief Strategy Officer of Topsail Re, as well as President of Topsail Capital Partners. Miller holds almost 25 years of experience in the industry, with extensive expertise working with specialty (re)insurance carriers, MGAs, and insurtech firms. "Miller brings ... Read the full article