Reinsurance News
Ascot expands its Environmental insurance portfolio with new offering
10th October 2023
Global specialty insurance firm Ascot, has expanded its environmental offering with the launch of Prime PREMIER, a new fixed-site pollution product designed for clients focused on real estate, manufacturing, distribution, warehousing, industrial and development. Prime PREMIER was named for Protecting Real Estate, Manufacturing, and Industry from Environmental Risk. According to the announcement, ... Read the full article
Fiji welcomes first ever parametric insurance product
10th October 2023
Fiji has joined the Pacific Catastrophe Risk Insurance Company (PCRIC), a parametric disaster insurance pool for the Pacific, and signed a commitment letter for the country’s first ever parametric insurance product. The signing of the agreement took place in Morocco, with Deputy Prime Minister and Minister for Finance Professor Biman Prasad, ... Read the full article
BHSI names Ana Fuertes Head of Energy and Construction in Spain
10th October 2023
Berkshire Hathaway Specialty Insurance (BHSI), a global insurance provider, has announced the appointment of Ana Fuertes as Head of Energy and Construction in Spain. Based in Madrid, Fuentes joins BHSI with two decades of insurance industry experience. Her career has included several leadership roles in construction, energy and technical lines at ... Read the full article
Aon digitises and automates reinsurance claims process with Appian
10th October 2023
Global re/insurance broker Aon has transformed its reinsurance claims processing with the use of The Appian Platform, an AI-powered process platform that helps design, automate, and optimise complex processes. Aon's Reinsurance Solutions started an operational transformation program in 2018, making adjustments to daily roles and responsibilities for the broker’s staff around ... Read the full article
EIOPA lays down strategic priorities for 2024/26 with focus on managing uncertainty
10th October 2023
The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the period 2024-2026, highlighting its plans to “focus on managing the uncertainty in times of transformation so that the insurance and pensions sectors can continue to deliver value to policyholders and beneficiaries.” In a statement, the EIOPA ... Read the full article
Pro Global hires news US Head of Audit & Advisory
10th October 2023
Pro Global has announced that it has appointed Robert Sherman as its new US Head of Audit and Advisory. Based in the US, in his new role, Sherman will lead Pro’s US Audit strategy and business development, with a particular focus on insurance audit and advisory services. Sherman joins Pro Global from ... Read the full article
Bermuda’s position as financial hub won’t be unduly impaired by tax reforms: KBRA
10th October 2023
In a recent report, credit rating agency KBRA (Kroll Bond Rating Agency) has affirmed Bermuda's long-term issuer ratings and short-term issuer ratings of the sovereign. The agency's stable outlook for Bermuda underscores its confidence in the island's ability to weather global corporate tax reform efforts without significant disruption to its status ... Read the full article
Insurance industry faces growing concerns over cyber cat risk: Gallagher Re
10th October 2023
Gallagher Re's report underscores the rising concern among business and insurance sector leaders regarding the potential for a large-scale systemic cyber attack, commonly known as a "cyber catastrophe" risk, due to the complex challenges and uncertainties it presents. The report underscores that while the cyber insurance market is rapidly evolving, it ... Read the full article
Mark Shumway joins Inver Re as Head of Advisory
10th October 2023
Mark Shumway, formerly of insurance and reinsurance broker Howden, has joined Inver Re, the reinsurance broking arm of the Ardonagh Group, as Head of Advisory. Shumway joined Hyperion X, which later became Howden, from JLT Re in 2019, which followed Marsh McLennan's acquisition of JLT Group earlier that year. During ... Read the full article
AXA Climate appoints Behrmann Head of London Market & Private Public Partnerships
10th October 2023
Parametric insurance specialist, AXA Climate, has appointed Toby Behrmann as Head of London Market & Private Public Partnerships, based in London. In his new role, Behrmann will be tasked with utilising the power of the London Market to drive AXA Climate's purpose to make regenerative business universal and the Private Public ... Read the full article
CCRIF collaborates with The UWI to reduce the impacts of wildfires in Barbados
10th October 2023
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has announced that it is collaborating with The University of the West Indies (The UWI) in an effort to reduce the impacts of wildfires on the people, communities, and the economy of Barbados. According to the announcement, CCRIF has provided a grant of approximately US$25,000 ... Read the full article
Brown & Brown completes acquisition of Kentro
10th October 2023
Insurance broker, Brown & Brown, Inc. has completed its previously announced acquisition of Kentro Capital Limited into the operations of Brown & Brown Europe. London-domiciled Kentro is an insurance industry brokering group managing over £500 million of gross written premiums since its founding in 2008. Kentro companies, Nexus, Xenia, Millstream, Capstone Brokers and ... Read the full article
PPL to pilot market APIs in Q4 with WTW & Tysers
10th October 2023
Placing Platform Limited has confirmed that it will begin to pilot its new generation of Market APIs during the fourth quarter of 2023, working initially with broker WTW and independent Lloyd's broker, Tysers. According to the announcement, the pilot is designed to exercise and validate the end-to-end integrated process and will ... Read the full article
Commercial insurance rates moderate in Q3’23: MarketScout
10th October 2023
In the third quarter of 2023, commercial insurance rates in the United States saw a moderation in their upward trajectory, according to a report by MarketScout. The data showed that rates increased by 3.72% during this period, a notable deceleration compared to the 5% surge witnessed in the second quarter of ... Read the full article
European Insurance M&A activity surges in H1’23: FTI Consulting
10th October 2023
In the first edition of FTI Consulting's European Insurance M&A Barometer Report for 2023, the firm highlights a robust surge in insurance deal activity across the region during the first half of the year. The report provides insights into key trends in the insurance mergers and acquisitions (M&A) market, showcasing notable ... Read the full article
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