Reinsurance News
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
Insurers continue to face capital challenges: Aon
18th June 2024
Aon, a global insurance and reinsurance broking group, has released its latest capital poll, highlighting the capital challenges and growth prospects for insurers. The challenges faced in 2023 significantly reduced the financial buffers that many insurers previously benefitted, leading to a heightened focus on capital management and diverse funding sources. Despite robust ... Read the full article
SanlamAllianz appoints Nakesh Dussee as Fac Underwriter for Francophone market
18th June 2024
SanlamAllianz, a Pan-African non-banking financial services company formed jointly by Sanlam and Allianz, has recently appointed Nakesh Dussee as Facultative Reinsurance Underwriter, Property & Engineering for the Francophone market. Vashish Reetoo, Executive Head of Facultative at SanlamAllianz, expressed his enthusiasm for Dussee’s appointment, stating, “Nakesh brings a wealth of experience ... Read the full article
Extreme heat triggers combined insurance loss of income policy pay out to over 46k women in India
18th June 2024
Thousands of low-income women based in India are receiving assistance to deal with the economic and health effects of the extreme heat temperatures that are currently gripping the country. From what we understand, extreme heat temperatures in India triggered insurance and cash payments in 22 districts across the states of Rajasthan, ... Read the full article
Consilium hires Wallace to lead new Credit and Political Risk solutions
18th June 2024
Consilium, the global speciality re/insurance broking business of the Aventum Group, has entered the Credit and Political Risk insurance market, adding a “much needed choice” at a time when its clients face heightened political and economic uncertainty. Its new Credit and Political Risk specialty will cover the full range of client ... Read the full article
Fitch upgrades German non-life insurance sector outlook to ‘improving’
18th June 2024
Fitch Ratings, a financial analysis firm operating out of Frankfurt and London, recently announced a notable change in its evaluation of the German non-life insurance sector. The outlook has been elevated from 'neutral' to 'improving,' driven by expectations of heightened profitability fuelled by robustly increasing premium rates. Despite some European counterparts, recent ... Read the full article
Aon unveils new platform for motor fleet operators
18th June 2024
Global insurance and reinsurance broker Aon, has launched a new platform to help motor fleet operators understand where risk is within their fleet. The new platform, which is called Fleet Risk Intelligence, aims to reduce accidents, improve operations and reduce costs. According to the broker, the platform provides actionable insights to fleet operators ... Read the full article
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