Reinsurance News
CAPE Analytics partners with Google Cloud
23rd March 2023
CAPE Analytics, a leader in AI-powered geospatial property intelligence, has partnered with Google Cloud to develop predictive analytics that enhance risk management for insurance carriers and property valuation solutions for the real estate and mortgage industries. CAPE states that by leveraging Google Cloud’s secure cloud infrastructure and machine learning technology, it ... Read the full article
Shreyaa Vohra named Managing Director of Besso Re Middle East
23rd March 2023
Re/insurance broker Besso has announced the appointment of Shreyaa Vohra to the role of Managing Director of Besso Re Middle East. In her new role, based in Dubai, she will be responsible for developing the company’s facultative portfolio, predominantly across the GCC (Gulf Cooperation Council) region. Prior to joining Besso, Vohra spent ... Read the full article
Ardonagh Group sees income swell 30% to $1.5bn in full year results
23rd March 2023
The Ardonagh Group has reported a 30% increase in income to $1.5 billion in its full year results, representing five-fold growth in the five years since its formation. Meanwhile, adjusted EBITDA rose 22% to $476 million from $390 million in 2021. The firm's full year 2022 Pro Forma income stood at $1.8 ... Read the full article
Corvus expands cyber team in Frankfurt
23rd March 2023
Cyber specialist Corvus Insurance has announced that it has expanded its Frankfurt, Germany-based team by appointing cyber underwriters and a local head of cybersecurity services. The addition of these hires will provide support in meeting demand for Corvus’ Smart Cyber Insurance product that was recently launched in Germany and Austria iRead the full article
Insurance M&A activity in Europe reached all-time high in 2022: FTI Consulting
23rd March 2023
Investor appetite for insurance assets achieved a new annual record in 2022, with European insurance M&A activity reaching all-time high despite economic headwinds, according to a recent report by FTI Consulting, Inc. The pace of activity seen in 2021 largely continued through 2022, the report found that 435 deals were recorded ... Read the full article
Lloyd’s reports £2.6bn underwriting profit but investment loss dents full year result
23rd March 2023
Lloyd's, the specialist insurance and reinsurance marketplace, has today announced an improved underwriting profit of £2.6 billion in its 2022 full year results, although a net investment loss of £3.1 billion resulted in an overall loss before tax of £800 million. After numerous years of performance improvement, the Lloyd's market's underwriting ... Read the full article
LMA announces Claims Committee election results
23rd March 2023
The Lloyd’s Market Association (LMA) has announced the results of the LMA Claims Committee (LMACC) elections. The LMACC ballot for five elective membership positions closed at the end of February. Two members of the LMACC who stood for a second term were both re-elected: Nick Doyle from The Hartford, and Steve Yeo ... Read the full article
MGA Nirvana appoints Mannsdorfer to build out European underwriting team
23rd March 2023
Newly-launched media, tech and cyber MGA Nirvana has appointed industry veteran Thomas M. Mannsdorfer as part of its leadership team to build out a European underwriting business. Mannsdorfer has over two decades of experience as a mergers and acquisitions (M&A) underwriter across European markets. In the new role, he is tasked with ... Read the full article
Kin increases Series D round to $109mn
23rd March 2023
Kin, a direct-to-consumer home insurance company has announced that it has conducted a third close, an incremental $15 million, to its Series D round in the fourth quarter of 2022. The company confirmed that the investment came from Geodesic Capital, QED Investors, and additional investors, bringing the total Series D funds ... Read the full article
CFC adds professional liability & tech E&O to admitted product suite
23rd March 2023
Specialist insurance provider CFC has announced the expansion of its admitted product suite offerings with the additions of professional liability and technology E&O. Leveraging CFC’s trading platform and API - Connect - US brokers will now possess the ability to auto-rate and bind admitted professional liability policies for more than 500 ... Read the full article
Cowbell opens new technology center in Pune, India
23rd March 2023
Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs) has announced the opening of a new technology center in Pune, India. The new center will augment the firm’s existing development centers in Pleasanton, California; Plano, Texas; and Toronto, Canada. At the same time, it will also drive further global footprint ... Read the full article
Capital inflows may not be enough to pressure reinsurance prices: Conduit Re
22nd March 2023
Speaking at a conference hosted by investment bank Berenberg, Conduit Re's chairman, Neil Eckert, suggested that despite expecting new capital to be drawn in following the repricing of risk, the inflow may not be large enough to put significant pressure on pricing. According to Berenberg's analysts, Conduit is "upbeat" on the ... Read the full article
Joyn Insurance adds former AIG exec Brian Duperreault to board of directors
22nd March 2023
Insurtech Joyn Insurance has announced the addition of Brian Duperreault, former AIG CEO, to its board as an independent director. This move follows the appointment of Jim Hackbarth as the company’s first independent director announced earlier this month. From 2017 to 2021 Duperreault served as Executive Chairman for AIG’s Board ... Read the full article
Reinsurance buyers to benefit from Tremor’s cross-placement optimization tools
22nd March 2023
Online reinsurance pricing and placing platform, Tremor Technologies has announced the launch of cross-placement optimization tools, which it says will enable buyers to get best execution for all of their reinsurance placements simultaneously. Tremor Multiplace determines prices and allocations for multiple placements simultaneously while automatically managing cross-placement concerns, and Tremor Forwards, ... Read the full article
Leading cloud service providers faced 1000+ disruptions in 2022: Parametrix
22nd March 2023
The world’s leading providers of cloud services suffered 1,190 performance disruptions across their cloud landscape in 2022, of which 492 were classified as critical, according to a report from Parametrix. Businesses were affected by limited access to cloud storage and the cloud-native services provided by Amazon Web Services, Microsoft Azure, and Google ... Read the full article
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