Reinsurance News
Insurity’s AI solutions revolutionise policyholder experience, slashing support time by 75%
4th December 2023
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, announced that insurers leveraging Insurity’s AI have reported an astounding 75% reduction in average support time. Insurity's cloud-native AI solutions, strategically designed for the unique needs of P&C insurance, have garnered attention for their transformative impact on ... Read the full article
Beazley to work with DRC’s RS X Rating for Global Enterprise Rating
4th December 2023
Specialist insurer Beazley has selected Decision Research Corporation (DRC), a provider of enterprise software solutions for the Property and Casualty insurance industry, to help power its next generation of pricing tools. To do so, the London-based insurer will work with DRC’s RS X Rating as the Global Enterprise Rating technology. Troy Dehmann, ... Read the full article
Bermuda aims to become the “climate risk capital”, the Government states as COP28 starts
1st December 2023
Bermuda has stated its ambition of becoming the world's “climate risk capital”, from its existing position as the underwriting hub of one third of the world's climate catastrophe insurance. The Government of Bermuda shared this statement in its White Paper, titled "The Bermuda Difference: Bringing expertise, resource, and finance to the ... Read the full article
Lloyd’s Europe names Hanna Norumhas as the General Representative for Norway
1st December 2023
Hanna Norumhas has been appointed as the General Representative for Norway, by Lloyd’s Insurance Company S.A. (Lloyd’s Europe). This appointment follows the retirement of Espen Komnaes, and is effective starting December 1st 2023. Most recently, Norumhas served as a Partner at Advokatfirmaet Berngaard AS, previously she has also served as the Senior ... Read the full article
BroadRiver successfully completes acquisition of Lombard International’s US & Bermuda operations
1st December 2023
BroadRiver Asset Management, L.P. has successfully concluded its acquisition of the US and Bermuda businesses of Lombard International Group. Andrew Plevin, Co-Founder and Co-CEO of BroadRiver, expressed enthusiasm about the transaction, stating, "This transaction is an outstanding opportunity for BroadRiver and its investors and an additional step in BroadRiver’s strategic expansion ... Read the full article
Embrace Partners approved as wholesale broker for Aon
1st December 2023
Aon has approved Embrace Partners, a minority-owned insurance broker and managing general underwriter (MGU), to act as a wholesale broker in the US. With this move, Aon brokers, at its clients' direction, can now begin placing insurance through Embrace. According to the announcement, adding Embrace to the roster of Aon-approved wholesale brokers ... Read the full article
Asian cities face environmental challenges, Singapore tops rankings for resilience: Tokio Marine
1st December 2023
In the face of escalating environmental challenges, Singapore has emerged as the highest-ranked global Asian city for overall resilience, securing the 4th position out of 25 major cities worldwide, according to The Resilient Cities Index 2023 launched by Tokio Marine Group and Economist Impact. The study, sponsored by Tokio Marine Group, ... Read the full article
US 10-year Treasury yields to average 4.2% in the long run: Swiss Re Institute
1st December 2023
US 10-year Treasury yields are expected to average 4.2% over the long term, according to the Swiss Re Institute, a figure 40 basis points above its previous forecast. Long-dated US Treasury bonds have sold off sharply this autumn, surprising many investors and taking yields on the benchmark 10-year bonds to levels ... Read the full article
AIG to offer 35 million shares of Corebridge Financial
1st December 2023
American International Group (AIG) has announced it will sell off another 35 million existing shares of common stock at $20.50 per share, as it continues to raise funds from the retirement services company while remaining the major shareholder. According to the announcement, the insurer has also granted a 30-day option to ... Read the full article
Record-breaking year predicted for UK life insurance in 2023: RBC Capital Markets
1st December 2023
In a recent analysis by RBC Capital Markets, the UK life insurance industry is poised for a remarkable year in 2023, with projected volumes reaching approximately £50 billion, surpassing the previous record of £45 billion in 2019. This surge is attributed to the anticipation of large transactions, including the recent announcements ... Read the full article
HCI’s CORE receives approval to operate in Florida
1st December 2023
HCI Group, Inc. announced its sponsored reciprocal insurer, Condo Owners Reciprocal Exchange (CORE), obtains a certificate of authority from Florida regulators, allowing it to transact insurance in the state. The Florida-based holding company, with interests in homeowners insurance, IT services, real estate, and reinsurance, marks its entry into the commercial residential ... Read the full article
Ryan Specialty appoints Thomas Nash as President of CorRisk Solutions
1st December 2023
International specialty insurance firm, Ryan Specialty, has appointed Thomas Nash as President of CorRisk Solutions, effective December 1st, 2023. CorRisk is the wholesale distribution professional liability managing general underwriter, a part of Ryan Specialty Underwriting Managers. Nash joined Ryan Specialty through the acquisition of Socius Insurance Services in July 2023, where he ... Read the full article
AM Best maintains stable outlook on Vietnam’s non-life insurance segment
1st December 2023
Global credit ratings agency AM Best has confirmed that it is maintaining a stable outlook on Vietnam’s non-life insurance segment. The agency cities premium growth and regulatory enhancements that strengthen risk management and corporate governance, as the key factors contributing towards the outlook. A recent report from Best also showcases the government’s ... Read the full article
Rothesay and Thales seal £2.7bn insurance deal for Thales UK pension scheme
1st December 2023
Rothesay, a prominent UK pensions insurance specialist, has successfully executed a £2.7 billion transaction to insure all liabilities of the Thales UK Pension Scheme. This comprehensive deal covers over 16,000 members, including 10,512 pensioners and dependents, along with 5,915 deferred members. The transaction involved a strategic agreement with Thales, a global high ... Read the full article
Genpact collaborates with Amazon on property loss replacement & claims management
1st December 2023
Genpact, a global professional services firm, is collaborating with Amazon Web Services (AWS) and Amazon Business to introduce a transformed approach to property loss replacement and claims management. The aim is for Genpact to use its claims management expertise as well as Amazon Bedrock generative AI capabilities and Amazon Business procurement ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
