Reinsurance News
Oxbridge Re’s SurancePlus closes $2.4m capital raise of its tokenized reinsurance security
28th June 2023
Oxbridge Re Holdings Limited has announced that its Web3-focused, wholly-owned subsidiary, SurancePlus Inc., has closed a $2.4 million private capital raise through the sale of 244,776 of its tokenized reinsurance security, DeltaCat Re. According to the announcement, the tokens will be issued on the Avalanche blockchain. Oxbridge Re announced the incorporation ... Read the full article
Hedemark to succeed Wegener as FERMA President
28th June 2023
The Federation of European Risk Management Associations (FERMA) has announced the election of Charlotte Hedemark as its next President. Her tenure as President will start on 17 October. She will be succeeding Dirk Wegener following the completion of his four-years as President. Hedemark is a Risk Management Expert at SAP and is ... Read the full article
BoE’s PRA thematic review reveals concerns over general insurance claims inflation
28th June 2023
In a recent thematic review conducted by UK regulator the Prudential Regulation Authority (PRA), part of the Bank of England, across the general insurance sector, concerns have been raised regarding the impact of claims inflation on general insurance claims. The review focused on how insurance firms have responded to a previous ... Read the full article
1-in-100 year flooding in the US can now be expected every 8 years: First Street Foundation
28th June 2023
What is currently estimated to be an infrequent and severe 1-in-100 year flood event can now be expected every eight years, the First Street Foundation, a nonprofit research group, has revealed. The 8th National Risk Assessment: The Precipitation Problem, captures climate-driven changes in heavy rainfall events for the United States and ... Read the full article
Ageas Re bolsters out leadership team with several appointments
28th June 2023
Ageas groups reinsurance brand Ageas Re has bolstered out its leadership team through a series of appointments. Firstly, Stephan Rappaz from Peak Re has been appointed to the role of Underwriting Director Casualty, where he will be based in Aegas Re's Zurich office. Rappaz joins Ageas Re from August 1, 2023. He ... Read the full article
INSHUR taps Google for cloud and generative AI
28th June 2023
On-demand insurance platform, INSHUR, has announced it is working with SADA, a leading business and technology consultancy and award-winning Google Cloud partner, to bolster global growth. According to the announcement, this joint effort will help enhance INSHUR’s Google Cloud strategy, enabling the business to bring new products to market more quickly, ... Read the full article
Flow Capital invests in Wrisk to accelerate international growth
28th June 2023
Flow Capital, a provider of flexible growth capital and alternative debt solutions, has closed an investment in B2B2C insurtech Wrisk Limited. Wrisk is a digital-first insurance business that works with automotive brands to "shape the future of their customers' mobility and insurance experiences." The insurtech offers an embedded white-labelled insurance platform to ... Read the full article
Marsh names Kelly Butler as UK Cyber Leader to strengthen cyber insurance
28th June 2023
Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan, appointed Kelly Butler as the UK Cyber Leader, effective October 2023. As part of her new role, Butler will be based in London and report directly to Beth Thurston, CEO of UK Financial & Professional Lines ... Read the full article
Everest Insurance appoints Scott Leney as Head of Asia Pacific, International Division
28th June 2023
Everest Insurance, the insurance division of Everest Re Group, Ltd., has appointed Scott Leney as Head of Asia Pacific for its International Division, effective November 6. He will be based in Sydney, Australia and will report to Adam Clifford and Jason Keen, co-heads of Everest Insurance International. Adam Clifford, co-head of ... Read the full article
We have to continue to look for new solutions within cyber, Allianz AGCS’s Sayce
28th June 2023
A joint report from Federation of European Risk Management Associations (FERMA) and its industry partners, which examines how Europe can be the driving force towards cyber resilience, was recently published earlier this month. The report was produced in partnership with leading industry players including Allianz Global Corporate & Specialty, AXA ... Read the full article
Asian Re re-elects Chairman, elects Vice Chair
28th June 2023
Asian Re, the intergovernmental organization established in May 1979 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) has re-elected Dr Gholamreza Soleymani unanimously as the Chairman of Bangkok-based Asian Reinsurance Corporation (Asian Re). This is Dr Soleymani's full term as Chairman for ... Read the full article
GeoX partners with Insurity to enhance P&C insurers risk assessments
28th June 2023
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has partnered with GeoX to provide P&C insurance organisations with geospatial property data and first floor elevation data to more accurately classify and assess risk. Insurity suggests that its customers can now leverage GeoX’s proprietary artificial intelligence ... Read the full article
Kwaku Baah-Nuakoh named SeyRe Global CEO
28th June 2023
Kwaku Baah-Nuakoh has become the new Chief Executive Officer of Seychelles Reinsurance Global Ltd (SeyRe Global), a Barbados-based re/insurer. The reinsurer's aim is to achieve a consistent growth target over its first five years and to leverage on the brand and rating of Ocean Re, its fronting partner, to position itself ... Read the full article
AAIS names Werner Kruck as President and CEO
28th June 2023
American Association of Insurance Services (AAIS) has announced the selection of Werner E. Kruck as its new President and Chief Executive Officer, effective June 26, 2023. With an extensive background in the insurance industry, Kruck brings over 45 years of experience to his new role. He has held various leadership positions in ... Read the full article
Afreximbank launches intra-Africa trade supporting insurance subsidiary
28th June 2023
The African Export-Import Bank today in Accra launched its wholly-owned insurance management services subsidiary, AFREXInsure, which took place on the sidelines of Afreximbank’s 30th Anniversary Annual Meetings. The launch comes with a commitment to provide a single-entry point for all specialty insurance needs to assist in optimally managing related risks for ... Read the full article
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