Reinsurance News
IUA launches London forum for mergers and acquisitions insurance focus
21st June 2024
A new London company market forum, operated by the International Underwriting Association (IUA), which represents London-based international and wholesale insurance and reinsurance companies, is centring its efforts on warranty and indemnity insurance. This type of insurance is crucial in mergers and acquisitions, helping to mitigate losses stemming from contractual warranties. Recently formed, ... Read the full article
ICEYE nat cat data being integrated into Guidewire
20th June 2024
Guidewire, a provider of software solutions to the insurance industry, and ICEYE, of satellite-powered disaster management solutions provider, have launched ICEYE's new Ready for Guidewire validated accelerator on the Guidewire Marketplace, now accessible to ClaimCenter users on Guidewire Cloud. ICEYE, a recent graduate of the Insurtech Vanguards programme and winner of ... Read the full article
Emerald Bay & Lightspeed launch homeowners insurance facility in California
20th June 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has partnered with Lightspeed Specialty Insurance Solutions, a subsidiary of Volnay Insurance Holdings, to launch an insurance facility in California aimed at providing comprehensive coverage to homeowners and landlords in a market that has been underserved. This new initiative will focus on homes ... Read the full article
Marsh’s Chestiperova joins SCOR’s Alternative Solutions Reinsurance team
20th June 2024
Olga Chestiperova has joined SCOR’s Alternative Solutions Reinsurance team as a Senior Underwriter, based in the company's Paris office. The addition of Chestiperova further bolsters a team that has been expanding in recent months. Chestiperova joins the French reinsurer with a background in structured solutions consulting at Marsh France, where she worked ... Read the full article
Kingstone completes 24/25 reinsurance placement with savings of $6mn
20th June 2024
Kingstone Companies, Inc., a US property and casualty insurance holding company, has finalised its 2024/2025 catastrophe reinsurance placement, purchasing a total cat limit of $275 million with savings of $6 million. Jennifer Gravelle, Chief Financial Officer at Kingstone, said: "I am delighted to share that Kingstone has finalised its 2024/2025 catastrophe ... Read the full article
European cyber insurance market now more friendly, says Marsh
20th June 2024
The European cyber insurance market has become much more friendly, with increased capacity per layer, significant overall capacity growth, removal of coverage restrictions, and more enhancements and innovative coverages available, according to Macarena Bandres, Cyber Placement Leader at Marsh Europe. Bandres’ spoke this morning at Marsh’s Europe Cyber Market Update, noting ... Read the full article
Keystone Agency to acquire Keystone Insurers Group, strengthening partnership
20th June 2024
Keystone Agency Partners (KAP), an insurance brokerage platform, has signed a definitive agreement to acquire Keystone Insurers Group (Keystone), a premier independent agency network, marking a significant milestone in its strategic growth plan. This acquisition aims to strengthen integration and alignment, enabling KAP to maintain its leadership in a dynamic market ... Read the full article
Allstate’s May catastrophe load takes YTD losses to $2.62bn
20th June 2024
Large US primary insurer Allstate has reported estimated catastrophe losses of $1.4 billion ($1.1bn after-tax) for the month of May, taking total catastrophe losses for May year-to-date to $2.62 billion. At $1.4 billion, May 2024 catastrophe losses are up by $515 million, or 58% from the $885 million of May ... Read the full article
K2 International unveils new division, K2 Rubicon Specialty
20th June 2024
K2 Group Holdings Limited (K2 International), the specialty re/insurance underwriting platform, and division of K2 Insurance Services, has announced the launch of K2 Rubicon Specialty. According to the announcement, K2 Rubicon Specialty will write across multiple lines including Marine and U.S. Property in the London Market. The new division was founded by ... Read the full article
Aon sells intellectual property platform assets to Moat Metrics
20th June 2024
Global re/insurance broker Aon has sold technology and intellectual property (IP) assets to Moat Metrics Inc., a Washington-based company that delivers AI driven business and research intelligence. Lee, founder and CEO of Moat Metrics, said: “We are grateful for our time at Aon as IP Solutions became a leading provider of ... Read the full article
Chubb hires AIG’s Roos as Technology & Climate Tech Industry Practice Leader for NE region
20th June 2024
Chubb, the property and casualty (P&C) insurer, has appointed American International Group's (AIG) Robin Roos as Technology and Climate Tech Industry Practice Leader for the firm's Northern Europe Region. In the role, he is expected to lead Chubb's multi-line proposition for Technology clients. In addition, he will also lead the company's proposition ... Read the full article
A young cyber market has matured, but enhancing preparedness and resilience is key: Kreuzer, Munich Re
20th June 2024
In a recent interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, discussed how the firm stays ahead of the evolving cyber threat landscape and how companies can enhance their preparedness against these threats. Kreuzer offers his perspective on the current state of the cyber re/insurance ... Read the full article
ZestyAI partners with Duck Creek for property and climate risk analytics
20th June 2024
ZestyAI, a provider of AI-driven climate and property risk analytics solutions, has announced a strategic partnership with Duck Creek Technologies, a provider of core systems for property and casualty (P&C) insurance. This collaboration positions ZestyAI as a Solution partner within Duck Creek’s ecosystem, enabling property and casualty insurers to utilise advanced ... Read the full article
Arch names Roberto Tous AIEU Director of Strategy & Distribution for Europe
20th June 2024
Roberto Tous is joining Arch Insurance (EU) dac (AIEU), part of Arch Insurance International, as Director of Strategy & Distribution for Europe, to help expand the company's distribution strategy in the region. In this new role with AIEU, which provides specialist property and casualty insurance solutions within the European Union, Tous ... Read the full article
Fusion Specialty and HDI Global Specialty SE expand partnership into the Americas
20th June 2024
Fusion Specialty, a provider of specialty insurance solutions, has announced the expansion of its global collaboration with HDI Global Specialty SE, a specialty insurer, which is now extending into the Americas. This partnership will offer increased capacity for representations and warranties (R&W), tax, and contingent insurance lines. David Rogers, Fusion’s Executive Chairman, ... Read the full article
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