Reinsurance News
Emerald Bay Risk Solutions launches with Bain Capital backing & Ingrey as CEO
28th March 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has formally launched with a significant strategic investment from Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital. Led by Dave Ingrey as Chief Executive Office (CEO), Emerald Bay is an innovative program specialist focused on leveraging core underwriting expertise and ... Read the full article
Parametric insurance, an effective tool to address earthquakes: Swiss Re’s Linkin
28th March 2024
Parametric insurance is becoming more mainstream and has become a great tool to complement traditional insurance as the potential devastating impacts of perils like earthquakes increase, Megan Linkin commented in a recent interview with Reinsurance News. Findings from the latest USGS National Seismic Hazard Model (NSHM) revealed that there is a ... Read the full article
Alexander Pui named SVP, Climate and Sustainability Consulting, Marsh Asia
28th March 2024
Insurance broker and risk advisor Marsh has appointed Alexander Pui as Senior Vice President, Climate and Sustainability Consulting, for Marsh Asia. A renowned figure within the sector, Pui was named the Risk Leader of the Year by the Risk Management Institute of Australia in 2022 . In addition, he founded the global ... Read the full article
Oka closes $10m investor raise funding
28th March 2024
Oka, The Carbon Insurance Company (Oka)™ has announced that it has closed a $10-million investor raise that "sets the foundations for its next phase of growth." Lead investors included Aquiline Capital Partners LP and firstminute capital, which formerly spearheaded Oka's $7-million seed round, and dedicated climate-solutions investor Overview Capital. Moreover, ... Read the full article
UK court to settle $10bn jet dispute in London rather than Moscow
28th March 2024
London's High Court has decided that the $10 billion battle between reinsurers and a host of aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be heard in London rather than Moscow, as per a new report from Reuters. If you remember, back in July ... Read the full article
GIC completes acquisition of Cinven’s shares in UK broker Miller
28th March 2024
Global investment firm GIC has completed the acquisition of Cinven’s shares in Miller, a transaction that “secures long-term independent future for Miller as a leading specialist broker.” Having announced GIC’s acquisition plans back in December 2023, Miller has undergone a period of significant expansion - driven by both strong organic ... Read the full article
The Fidelis Partnership to lead new Lloyd’s Syndicate 3123
28th March 2024
The Fidelis Partnership, formerly known as Fidelis MGU, has confirmed that Lloyd’s has granted “in principle” approval for the launch of Syndicate 3123 in collaboration with Fidelis Insurance Holdings Limited (Fidelis Insurance Group), a global specialty insurer, and Hampden Agencies, the largest provider of private capital to Lloyd’s. At the ... Read the full article
Baltimore bridge an opportunity for us to show the value of insurance: Lloyd’s CEO
28th March 2024
John Neal, Chief Executive Officer (CEO) of the specialist Lloyd's insurance and reinsurance marketplace, said this afternoon that the Baltimore bridge event provides an opportunity for the industry to show the value of insurance. "I've been saying in different conversations this morning that actually the good news there is we are ... Read the full article
Majority of industry respondents expect use of parametric triggers in reinsurance to rise in 2024
28th March 2024
According to a recent Reinsurance News poll, over 80% of industry respondents anticipate the use of parametric triggers in reinsurance arrangements to rise in 2024. Parametric news has featured heavily in our pages so far this year, though admittedly, this has been largely insurance-related. For example, speaking in an interview with ... Read the full article
Blueprint Two phase one digital services cutover pushed back three months
28th March 2024
Velonetic has revealed that the market cutover to Blueprint Two phase one digital services will move from July 2024 to a target date of October 2024, a decision driven by feedback shared by market participants and their respective market associations. If you recall, back in December of 2023, after a ... Read the full article
Chubb’s new platform to provide agents quicker access to flood quotes
28th March 2024
Chubb Personal Risk Services (PRS) has launched Flood Insurance System, a new self-service platform designed to give agents quicker access to flood quotes. Integrated with the Chubb Agent Portal and Masterpiece EZ Quote homeowners platform, this new platform will give seamless support to agent’s personal lines business for primary and excess ... Read the full article
Mosaic expands its political risk coverage to the US
28th March 2024
Mosaic Insurance, a specialist firm, has extended its political risk coverage to the US market and launched a new insurance product named Arbitration Award Default Insurance (AADI), offering a global coverage limit of $65 million. AADI is designed to compensate parties in cases where sovereign states breach investment treaties or contractual ... Read the full article
Lloyd’s Syndicate Ki expands digital follow capacity with Beazley partnership
28th March 2024
Ki, the digital and algorithmically driven Lloyd’s follow platform, has entered into a multi-year partnership with Beazley by adding the insurer’s capacity to its platform. This partnership will include Ki offering additional follow capacity from Beazley syndicate 2623/623 through its digital platform from 2 April 2024. Having grown significantly since its launch ... Read the full article
Moody’s forecasts strong underwriting discipline for trade credit insurers in 2024
28th March 2024
Analysts at Moody’s Investors Service anticipate that trade credit insurers will maintain strong underwriting discipline in 2024, supported by robust financial reserves, despite an increase in insolvencies and claims resulting from a global economic downturn. Moody’s observes a persistent increase in corporate defaults in early 2024, which is expected to lead ... Read the full article
Baltimore bridge insured losses could total as much as $4bn, says Morningstar DBRS
28th March 2024
Depending just how long the Port of Baltimore is blocked for after the collapse of the Francis Scott Key Bridge, and the nature of the Port's business interruption coverage, insured losses could land between $2 billion and $4 billion, according to analysts at Morningstar DBRS. Even at the low-end of the ... 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.
