Reinsurance News
Chubb and SentinelOne partner to enhance cybersecurity for U.S. businesses
27th September 2023
In a strategic move aimed at bolstering cybersecurity practices for American businesses, Chubb, the world's largest publicly traded property & casualty insurance company, has embarked on a collaboration with SentinelOne, a renowned leader in the field of cybersecurity. This partnership marks a significant step forward in cyber risk management for Chubb's ... Read the full article
Cyber threats remain top concern for businesses in 2023: Travelers Risk Index
27th September 2023
In the recently released 2023 Travelers Risk Index, The Travelers Companies, Inc. highlighted that for the ninth consecutive year, cyber threats continue to rank among the top three business concerns for a wide spectrum of companies. The annual survey, which encompassed responses from 1,200 participants representing small, medium, and large-sized enterprises, ... Read the full article
Aon launches FI Protect 360 Insurance Solution for financial institutions
27th September 2023
Aon plc, a leading global professional services firm, has unveiled its groundbreaking insurance solution, FI Protect 360, in collaboration with several prominent London market insurers. This innovative offering is tailored to address the critical operational risks confronting modern financial institutions (FIs) comprehensively, revolutionising risk management decisions in the industry. In today's financial ... Read the full article
Safety National Re names Scott Steele as Vice President Treaty Reinsurance
27th September 2023
Safety National Re, a leading provider of insurance and reinsurance solutions, announced the appointment of Scott Steele as Vice President Treaty Reinsurance. In his new role, Steele will spearhead the production and underwriting of broker market casualty reinsurance opportunities. With a career spanning over 25 years in the insurance and reinsurance industry, ... Read the full article
Vantage introduces policy for environmental risks
27th September 2023
Vantage Group Holdings Ltd. has announced the extension of its Contractors Pollution Liability (CPL) and professional liability offerings to Environmental Contractors and Consultants. According to the announcement, this pollution and professional liability policies for environmental risks complement the company's expertise and strong portfolio of insurance products for the US construction industry, ... Read the full article
Carol Sorenson joins Topsail Re as Vice President of Analytics
27th September 2023
Topsail Re has announced the appointment of Carol Sorenson as Vice President of Analytics. In the new role, Sorenson's responsibilities will include pricing accounts and providing actuarial and pricing analytics. Before joining Topsail, Sorenson managed a reserve portfolio and team of actuaries in her role as Vice President and Director at Zurich ... Read the full article
PIC reports “excellent” first half of 2023 results
27th September 2023
Pension Insurance Corporation plc (PIC), the specialist insurer of UK defined benefit pension schemes, has seen an “excellent first half of the year” with an adjusted operating profit (AOPBT) of £506 million and new business premiums of £6.5 billion. According to the Pension Insurance Corporation Group Limited, the ultimate parent company ... Read the full article
Lack of cyber education leaves SMEs vulnerable to cyberattacks: Cowbell
27th September 2023
A new survey commissioned by Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), has revealed a concerning lack of cyber education within businesses, putting 3 out of 4 SMEs at risk due to inadequate risk prevention efforts. The study underscores the pivotal role employees play in ... Read the full article
Surge in climate litigation urges insurers to reassess risk portfolios: Gallagher Re
27th September 2023
In a rapidly changing landscape of environmental concerns and legal action, a new report by Gallagher Re sheds light on the escalating wave of climate litigation and its profound implications for the (re)insurance industry. This report highlights key trends and challenges associated with climate change litigation, emphasising the need for insurers ... Read the full article
McGill and Partners and Renew Risk develop cat models for offshore wind portfolios
27th September 2023
Specialist re/insurance broker, McGill and Partners, has collaborated with Renew Risk, a risk analytics SaaS provider for renewable energy assets, to develop bespoke catastrophe models for offshore wind portfolios. According to the announcement, this collaboration is responding to the increased demand for in depth catastrophe modelling as offshore wind projects venture ... Read the full article
NFP introduces new brand for its specialty program business
27th September 2023
Property and casualty broker, NFP, has introduced Totalis Program Underwriters, a new brand for its specialty program business. “Totalis consolidates top specialty underwriters into a single integrated platform, offering niche specialty solutions across many industries with a full suite of services, including underwriting, product development and distribution,” NFP stated. It will be ... Read the full article
UIB opens two new companies in Peru
27th September 2023
International re/insurance broker UIB has expanded its operations in South America with the opening of two new companies in Peru. South Re, created by Jose Espinosa and Clara Escobar, and JEF Corredores de Seguros, headed by Ignacio Espinosa, will become UIB Corredores de Reaseguros and UIB Corredores de Seguros respectively, as ... Read the full article
Global insurers adapting to challenging macro environment in 2023: BlackRock
27th September 2023
"Global insurers are adopting a strategic asset allocation (SAA) that favours flexibility, allowing them to take advantage of opportunities in public and private markets, and invest in the transition to a low-carbon economy," suggests a new report from asset manager BlackRock. The firm's report included findings from 378 insurance investors surveyed ... Read the full article
Catherine Lyle named Senior VP and Head of Cyber Claims at Tokio Marine HCC – CPLG
27th September 2023
Tokio Marine HCC – Cyber & Professional Lines Group (CPLG) has announced the appointment of Catherine Lyle as Senior Vice President and Head of Cyber Claims & Incident Response, effective September 25, 2023. Lyle will be reporting directly to Michael Palotay, the President of the group. In her new role, Lyle ... Read the full article
Hiscox to sell DirectAsia business to Ignite Thailand Holdings Limited
27th September 2023
International specialist insurer Hiscox has entered into an agreement to sell DirectAsia, its business operations in Singapore and Thailand predominantly providing motor insurance, to Ignite Thailand Holdings Limited, the parent of the Roojai group of companies. DirectAsia was founded in Singapore in 2010 and launched in Thailand in 2013. Hiscox describes ... Read the full article
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