Reinsurance News
Climate-related disclosure data can help reveal insurers’ business-critical risk insights: Quiroga, Swiss Re
16th October 2024
Insurance and reinsurance companies can use climate-related disclosure data to reveal business-critical risk insights, point to growth opportunities and lift the quality of their underwriting, according to Swiss Re’s Paloma Quiroga. In a recent interview with Reinsurance News, Quiroga, Head Risk Consulting & Analytics explained that insurers face an array of ... Read the full article
Insured nat cat losses reach $108bn in first 9 months of 2024: Gallagher Re
16th October 2024
In the first 9 months of 2024, losses covered by the private insurance market or public insurance entities totalled at least $108 billion, 5% higher than the decadal average of $102 billion, driven by a higher frequency of low/mid-size events, especially in parts of the world with higher coverage, a ... Read the full article
Verisk estimates Milton’s insured losses to range between $30bn – $50bn
16th October 2024
According to the Extreme Event Solutions group at Verisk, insured industry losses to onshore property for Hurricane Milton will range between $30 billion and $50 billion. The firm explained that this estimate includes losses due to wind, privately insured estimates of storm surge, and privately insured precipitation induced flood losses resulting ... Read the full article
Embroker collaborates with Everspan to digitise insurance through Embroker’s ONE platform
16th October 2024
Digital insurance company Embroker has partnered with Everspan, the specialty property and casualty insurer, in a move that is expected to further enhance the digital insurance experience. Through this strategic partnership, Everspan now underwrites new coverage programs on Embroker's ONE platform, which includes their newly released packages for accountants, bookkeepers, tax preparers, ... Read the full article
LM Re appoints Cara Sweeney as Specialty Casualty Underwriting Manager
16th October 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Mutual, has appointed Cara Sweeney as Specialty Casualty Underwriting Manager, based in Stamford. In her new role, Sweeney's responsibilities includes oversight of the underwriting strategy and performance of LM Re’s US Specialty Casualty portfolio. She will report to Chantal Rodriguez, Chief ... Read the full article
Ascend & QuoteWell partner to simplify non-admitted markets’ quoting process
16th October 2024
Ascend, a comprehensive accounting operations platform for insurance, has partnered with QuoteWell, a commercial insurance managing general agent (MGA) and wholesale brokerage, to modernise MGA accounting and workflows. This partnership aims to seamlessly integrate QuoteWell's innovative technology-driven submission and quote process with Ascend's automated payments and financing tools. Together, the two companies ... Read the full article
Sompo appoints new Chief Operating Officer, Asia Pacific
16th October 2024
Sompo, a global provider of commercial and consumer property and casualty re/insurance, has appointed Maya Dongyoung Lee as Chief Operating Officer (COO), Asia Pacific (APAC), effective October 16, 2024. She will report to Daniel Englberger, COO, Sompo International Holdings and Kenneth Reilly, Chief Executive Officer, Insurance, APAC. She ... Read the full article
mea Platform and AXIS expand strategic partnership
16th October 2024
mea, a GenAI-powered global platform that aims to simplify insurance processes, has renewed and expanded its strategic partnership with AXIS, a global specialty re/insurer. Through the partnership, AXIS will expand its use of mea’s generative artificial intelligence (GenAI) with the aim of delivering operational efficiencies while enhancing the speed and service ... Read the full article
LIMOSS extends McKenzie Intelligence contract to improve cat response capability
16th October 2024
McKenzie Intelligence Services (MIS) and London Market Operations & Strategic Sourcing (LIMOSS) have signed a new contract that will give Lloyd’s Managing Agents and associated company market business greater flexibility to access additional services when adopting MIS’ geospatial intelligence platform in 2025. Since 2020, MIS, a geospatial intelligence provider for the ... Read the full article
Markel names Stacey Hinton Senior Underwriter and Head of Jewellers Block, Specie
16th October 2024
Markel Group Inc., a reinsurance company, has announced the appointment of Stacey Hinton as Senior Underwriter, Head of Jewellers Block, Specie. In her new position, Hinton will focus on enhancing the profitability of Markel's international Jewellers Block portfolio while building and nurturing relationships with brokers and clients. She will collaborate closely with ... Read the full article
CIMA reveals strong growth in the Cayman Islands insurance sector
16th October 2024
Growth continues for the Cayman Islands insurance sector, according to the Cayman Islands Monetary Authority (CIMA) licensing statistics for the third quarter of 2024. During the period of July to September, CIMA granted five new international insurer licences, including three B(i) and two B(iii) licences, which marked sustained progress within the ... Read the full article
Clearwater Analytics expands EMEA leadership team with three key hires
16th October 2024
Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has announced three new appointments to its EMEA leadership team. Notably, Clearwater Analytics was recently awarded Investment & Portfolio Management Technology of the Year at the Insurance Investor European Awards, recognising its innovative solutions for delivering top-tier investment ... Read the full article
Insurance CEOs focus on workforce growth and generative AI: KPMG survey
16th October 2024
CEOs in the insurance industry are optimistic about their companies' growth potential over the next three years, even in the face of challenges related to digital transformation, talent acquisition, and sustainability, according to a survey of 120 leaders from around the globe. The KPMG CEO Outlook, now in its tenth year, ... Read the full article
Sprout.ai’s growth advisory board adds ex-Zurich officer Ian Thompson
16th October 2024
Sprout.ai, a claims automation insurtech, has appointed Ian Thompson as the first member of its growth advisory board, effective immediately. In this role, Thompson helps in shaping Sprout.ai’s strategic product direction and go-to-market strategy while supporting business opportunities in the insurance market. The appointment aligns with Sprout.ai’s ambitions to promote innovation in ... Read the full article
Tokio Marine HCC enters Excess Casualty market led by David Perez
15th October 2024
Tokio Marine HCC (TMHCC), a specialty insurance provider, has announced its entry into the Excess Casualty market, appointing David Perez to lead the new offering. TMHCC’s entry into the Excess Casualty market comes at a crucial time, providing much-needed capacity for insureds as insurers continue to reduce limits in response to ... Read the full article
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