Reinsurance News
QBE Asia appoints Jeremy Lau as Chief Underwriting Officer
19th June 2024
Sydney, Australia headquartered insurer QBE has recently announced the appointment of Jeremy Lau as Chief Underwriting Officer for its Asian business. Lau takes over from Andy White, who is now Group Head of Underwriting Strategy and Performance. In his new role, Lau will work closely with Rob Kosova, CEO of QBE Asia, ... Read the full article
Florida’s American Integrity expands into Georgia property insurance market
19th June 2024
Tampa, Florida headquartered property insurer, American Integrity Insurance, is set to grow its footprint with expansion into the State of Georgia, establishing its presence in the region with the launch of a HO-5 homeowners policy for homes up to five years old. The move into Georgia comes two years after American ... Read the full article
R&Q confirms provisional liquidation in Bermuda to facilitate Accredited sale
19th June 2024
Following evaluation from its Board, R&Q has confirmed that it will be filing for a provisional liquidation in Bermuda and that it expects the previously announced sale of Accredited to Onex Corporation to be implemented through that process. If you recall, on the 13th of June, R&Q released an update ... Read the full article
Global Risk and Resilience Fellowship aims to de-risk investment using insurance
19th June 2024
The Sustainable Markets Initiative (SMI), a collaborative effort focused on promoting sustainability in global markets, along with Howden, an international insurance group, and Resilient Cities Network (R-Cities), the city-led network on urban resilience, has launched the second cohort of the Global Risk and Resilience Fellowship in five cities worldwide. This year's ... Read the full article
Verisk pegs insured losses from southern Germany flooding at up to $3.9bn
19th June 2024
Verisk's Extreme Event Solutions business, a global provider of data analytics and technology, has estimated that insurance industry losses from recent flooding in southern Germany will fall between USD 2.6 billion and USD 3.9 billion (EUR 2.4 billion to EUR 3.6 billion). Between May 31st and June 3rd, up to 160 ... Read the full article
Zurich acquires 70% of India’s Kotak General Insurance
19th June 2024
Zurich Insurance Company's acquisition of a majority stake in Kotak Mahindra General Insurance Company Limited, for a total consideration of Rs. 5,560 crores (USD 670 million), makes it the first foreign insurer to enter India since the FDI rules were changed to allow up to 74% foreign ownership in 2021. Together, ... Read the full article
Companies are facing ‘polycrisis’ of risk, reports Clyde & Co
19th June 2024
Clyde & Co, a law firm that specialises in insurance, trade, and aviation, reports that 67 percent of leaders surveyed find the risk landscape significantly more complex than it was three years ago during the COVID-19 crisis. Complicated and often contradictory global regulatory risks are major obstacles to corporate growth. The ... Read the full article
Assurex Global welcomes Prudent Insurance Brokers to its partnership
19th June 2024
Assurex Global, a private commercial insurance, risk management, and employee benefits brokerage group, has announced the addition of Prudent Insurance Brokers Pvt. Ltd., based in Mumbai, India, to the Assurex Global Partnership as of May 1. Established in 2005, Prudent Insurance Brokers began as an intermediary for TATA-AIG General Insurance Co. ... Read the full article
Sapiens launches AI-driven insurance platform to streamline operations
19th June 2024
Sapiens International Corporation, a global provider of software solutions for the insurance industry, has launched an advanced AI-driven platform designed to enhance insurers' offerings and processes. The Sapiens Insurance Platform utilises digital engagement, data intelligence, core business processing, and machine learning and generative AI (GenAI) capabilities. This helps insurers innovate seamlessly, ... Read the full article
SCOR backs new collaborative solution for cross-border e-commerce trade
18th June 2024
Hong Kong Export Credit Insurance Corporation (HKECIC) has introduced a new trade credit insurance solution based on SCOR's alternative data underwriting engine, SCOR Smart Credit, aimed at supporting cross-border e-commerce trade. This new product provides protection for trade loans granted by FundPark to merchants registered in Hong Kong. Its aim is ... Read the full article
Mark Houghton joins Canopius as Global Product Leader, Specialty
18th June 2024
Canopius, a global specialty and P&C (re)insurer, has announced the appointment of Mark Houghton to the newly created role of Global Product Leader, Specialty. Starting in October, Houghton will oversee the governance, performance, and standards of Canopius’ specialty underwriting lines across the business. He will also drive product development and innovation while ... Read the full article
ICA welcomes NSW budget’s major investments in resilience and flood protection
18th June 2024
The Insurance Council of Australia (ICA), the representative body for the Australian insurance industry, praised the New South Wales (NSW) Government's 2024-25 budget for its significant resilience funding, aimed at improving community protection and insurance affordability. Andrew Hall, CEO, Insurance Council of Australia, commented: "Today’s budget announcements are important investments in ... Read the full article
Lloyd’s names Diana Santin General Representative for Italy
18th June 2024
Lloyd’s Europe has announced the appointment of Diana Santin as the new General Representative for Italy, pending regulatory approval. According to the announcement, Nicoletta Andreotti, who has been serving as General Representative ad interim, will stay in the role until regulatory approval has been obtained for Santin. In addition to her new ... Read the full article
Kita and Wilder Carbon reveal “first ever” policy for buffer pool of carbon credits
18th June 2024
Specialist carbon insurance company, Kita, and UK-based carbon standard, Wilder Carbon, have announced a "first ever" insurance policy for a buffer pool, with capacity provided by specialist (re)insurer, Chaucer. According to Wilder Carbon, the buffer is a central pool of carbon credits to which each project developer is required to contribute ... Read the full article
TIH names Chris Grady EVP and Head of Strategy and Corporate Development
18th June 2024
US insurance brokerage TIH has appointed Chris Grady as Executive Vice President and Head of Strategy and Corporate Development, effective June 17. An experienced executive in the insurance industry with a strong track record in strategic planning, corporate development and M&A, Grady has been tasked with leading TIH’s strategic planning, merger ... Read the full article
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