Reinsurance News
Oakbridge Insurance expands presence in North Carolina through partnership with JHARM
10th July 2023
Oakbridge Insurance Agency LLC, one of the largest independent insurance and risk management agencies in the US, has entered into a new partnership with JHA Risk Management (JHARM), a personal and commercial P&C insurance agency, based in Rocky Mount, North Carolina. By specialising in risk management solutions, surety bonds, employee benefits ... Read the full article
Charles Taylor InsureTech & ReSpark announce partnership to strengthen policy administration
10th July 2023
Charles Taylor InsureTech (CTI), the global provider of technology solutions for the insurance market, has announced its partnership with ReSpark, a company specialized in automated management of quotes, rates, and diverse regulatory requirements including taxes, to facilitate business operations worldwide. This partnership will integrate ReSpark's portfolio of Policy Administration Solutions into ... Read the full article
Falvey appoints Juanita Shaikh as VP of Marine Cargo
10th July 2023
Falvey Insurance has announced the appointment of Juanita Shaikh to its underwriting team as Vice President, Marine Cargo. Shaikh will be located in Houston, TX and will conduct business there from a remote office. Shaikh is a market veteran with experience spanning over 22 years in the marine insurance industry. Prior to ... Read the full article
CoreLogic integrates with Databricks Marketplace to expand accessibility
7th July 2023
The global property information, analytics, and data-enabled solutions company, CoreLogic, has announced its integration with Databricks Marketplace. This move expands the accessibility of CoreLogic's comprehensive datasets and analytics tools. The collaboration amplifies CoreLogic’s commitment to meeting clients’ needs and allows a wider range of real estate, insurance and mortgage professionals to ... Read the full article
AM Best upgrades ratings of Odyssey Group Holdings’ subsidiaries
7th July 2023
AM Best has upgraded the credit ratings of the subsidiaries of Odyssey Group Holdings, Inc., and assigned a stable outlook. The firm’s members now have a Financial Strength Rating (FSR) of A+ (Superior) which was previously A (Excellent), and its Long-Term Issuer Credit Ratings (Long-Term ICRs) is now “aa-” (Superior), which ... Read the full article
Barnett Waddingham advises Chubb Trustees to insure £1bn of liabilities with Standard Life
7th July 2023
Barnett Waddingham (BW), a leading independent UK professional services consultancy across risk, pensions, investment and insurance, advised Chubb Trustees to insure £1 billion of liabilities with Standard Life. According to the announcement, the buy-ins were agreed with Standard Life (part of Phoenix Group) in June 2023, with benefits being insured for ... Read the full article
Zurich announces partnership with insurtech Qover
7th July 2023
Zurich Insurance Group has joined forces with Belgium-based Qover, to expand its embedded insurance capabilities. The insurer entered this partnership through Zurich Global Ventures as part of which Zurich is also joining the insurtech’s Series C funding round. Qover was founded in 2016 with the vision to simplify the future of insurance; ... Read the full article
Skyline Partners to work with risk expert MacDonald for parametric support
7th July 2023
Broking veteran Ken MacDonald is to advise and support Skyline Partners’ clients in product development, distribution, and funding, through MacDonald’s newly launched Ri3K Consulting, the parametric specialist has announced. “Parametric structures are rapidly being adopted as a credible and extremely efficient alternative to conventional risk transfer. They are delivering a radical ... Read the full article
Howden CAP forms partnership with Pernix, employing the efficiency of Structured Credit APIs
7th July 2023
Insurance broker Howden has announced that Pernix Specialty Limited has joined Howden CAP as its latest API (Application Programming Interfaces) partner. This partnership heavily reflects both Howden CAP and Pernix’s commitment to use digital platforms to improve efficiency in the marketplace, as well as provide enhanced solutions for clients and lead ... Read the full article
Specialty MGA UK gets Lloyd’s accreditation
7th July 2023
Recently formed Specialty MGA UK, which is focused on providing additional capacity for specialty lines of businesses, has been approved as a Lloyd’s Coverholder. After being set up last year, Lloyd’s accreditation represents another significant step for the company as it builds its international offering. Philippe Bara, Chief Underwriting Officer at ... Read the full article
Tokio Marine introduces Global Digital Market Intelligence Platform
7th July 2023
Tokio Marine Holdings has introduced a group-wide market intelligence platform to support operations related to collaboration with external companies. According to Tokio Marine, the system allows the firm to share information, including the status of search and scouting for potential future business partners, as well as meeting minutes. "As open innovation is ... Read the full article
Reinsurance recovery unlikely to be derailed by capital raised YTD: JP Morgan
7th July 2023
Capital raised (YTD) will unlikely dent the recovery the re/insurance sector has seen in pricing and improvements in terms and conditions year to date, according to a recent JP Morgan report. At this stage, analysts believe that the capital raised YTD on a net basis totals well under $10bn. Therefore, while broker ... Read the full article
Updated CSU 2023 Atlantic hurricane season forecast calls for “above average” activity
7th July 2023
An updated 2023 Atlantic hurricane season forecast released by the Colorado State University (CSU) anticipates more tropical cyclone activity than previously projected. In June it was reported that CSU was anticipating 14 additional named storms rather than 13, as well as seven hurricanes instead of six, ... Read the full article
Kingstone finalises reinsurance program for 2023-2024
7th July 2023
Kingstone Companies, Inc., an American P&C insurance holding company, has announced the finalisation of its reinsurance program for the period between July 1, 2023 through June 30, 2024. "I am delighted to let you know that Kingstone has finalized its 2023- 2024 catastrophe reinsurance placement," Meryl Golden, Kingstone COO, stated. "Kingstone purchased ... Read the full article
IAG purchases less aggregate reinsurance with higher attachment point at renewal
7th July 2023
Australian insurer IAG has confirmed the completion of its whole-of-account quota share arrangement, aggregate reinsurance and third/fourth event covers for the financial year ending June 30th, 2024. The primary insurer has adjusted its aggregate reinsurance coverage for FY24 in light of current reinsurance market conditions. This year, IAG has secured aggregate reinsurance ... Read the full article
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