Reinsurance News
Cayman Islands Monetary Authority names Kara Ebanks as Head of Insurance Supervision Division
23rd June 2023
The Cayman Islands Monetary Authority (CIMA) has announced the appointment of Kara Ebanks as the new Head of its Insurance Supervision Division. Ebanks previously served as Deputy Head since April 2021. Ebanks has been an integral part of CIMA since joining the organisation in 2007. Throughout her tenure, she has established herself ... Read the full article
France and Germany experience sharp rise in civil unrest incidents: Chaucer
23rd June 2023
France and Germany witness substantial increases in civil unrest incidents, with France experiencing a staggering 55% surge and Germany reporting a 13% rise in social unrest during the first quarter of 2023 compared to the same period in 2022, according to a report by specialty re/insurance group Chaucer. The study conducted ... Read the full article
Marsh McLennan to help Ukraine access global insurance market
22nd June 2023
Re/insurance brokerage, Marsh McLennan, has announced it will work with the Ukrainian government to help it unlock access to the global insurance market. As part of the support, the broker said it will provide services on a pro-bono basis to design and deliver a risk data platform that will allow insurers ... Read the full article
Vortex provides parametric rain cover to PGA golf event
22nd June 2023
It has been confirmed that for the second consecutive year, Vortex Weather Insurance will provide a rain insurance policy for the DICK'S Sporting Goods Open - a PGA TOUR Champions Event that takes place June 23–June 25 in Endicott, New York. John Karedes, Executive Director of DICK'S Sporting Goods ... Read the full article
Accelerant launches Risk Exchange platform to support specialty underwriters
22nd June 2023
Insurtech firm Accelerant has announced the launch of its Risk Exchange platform to further support specialty underwriters and drive market-leading, profitable growth. According to the announcement, The Accelerant Risk Exchange, now in beta, is available to Member specialty underwriters, insurers, and risk capital partners. The firm noted that the platform connects specialty ... Read the full article
Slide fortifies financial position with additional $35m of capital
22nd June 2023
Full-stack homeowners insuretech Slide Insurance has announced the closing of a $35 million senior credit facility with Regions Bank. This investment fortifies the financial position of the Florida-based firm, according to the announcement. “Securing the capital structure to support our technology development and growth has been a key focus since our inception," ... Read the full article
Insurance prices expected to rise for several years due to inflation, says Gallagher CEO to FT
22nd June 2023
Inflation-driven insurance price hikes are anticipated to persist for "a couple of years at least," according to Patrick Gallagher, CEO of Gallagher in an interview with the Financial Times. Gallagher highlighted that rising costs of claims have necessitated the insurance industry to raise premiums as part of a professional and astute ... Read the full article
Lemonade renews reinsurance program, creates risk-bearing entities
22nd June 2023
Insurtech firm Lemonade has announced the successful renewal of its reinsurance program. It has also formed Lemonade Re and a captive cell to retain some of their risk. According to the announcement, the program is to be led by the same tier-one carriers as the expiring one and was oversubscribed on ... Read the full article
Prescriptive analytics to drive over $100 billion growth in insurance industry by 2030: Aon
22nd June 2023
Aon plc, the global professional services firm, has released its Transformative Trends report, identifying prescriptive analytics as the leading megatrend with the potential to exceed $100 billion in gross written premium (GWP) by 2030 by applying machine learning and data influx to generate actionable insights for the re/insurance industry. However, its ... Read the full article
OxCarbon and Kita collaborate to drive financial investment in climate impact projects
22nd June 2023
OxCarbon, a not-for-profit spin-out from the University of Oxford, and Kita, the carbon insurance specialist, have signed a Memorandum of Understanding (MOU) aimed at facilitating increased financial investment in climate impact projects. The partnership focuses on employing scientific and data-driven approaches to scale up investments and develop viable insurance products for ... Read the full article
Sedgwick launches power & energy division in the UK
22nd June 2023
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has launched a new power and energy division in the UK, which will be led by industry veteran David Ward. Sedgwick states that the division will focus on claims affecting the energy and power sectors, with the capabilities to ... Read the full article
Alliant Insurance Services appoints Eric Edwards as its SVP for Americas
22nd June 2023
Eric Edwards has joined Alliant Insurance Services within its Alliant Americas division as Senior Vice President. Edwards will be based in New Orleans and will focus on developing comprehensive and cost-effective risk management solutions for a wide range of businesses and organizations across the Southeast. For more than two decades, Edwards has ... Read the full article
Hymans Robertson promotes Church to Head of Core Transactions
22nd June 2023
Leading pensions and financial services consultancy, Hymans Robertson has promoted Iain Church to Head of Core Transactions, as part of an enhanced and expanded risk transfer team. The company stated that in this newly created role, Church will be leading the firm’s drive to support smaller schemes as they reach buy-out ... Read the full article
Insurance Quantified acquires P&C data provider Groundspeed Analytics
22nd June 2023
Insurance Quantified, a commercial P&C underwriting technology provider, has acquired the ingestion and data solutions firm, Groundspeed Analytics. According to Insurance Quantified, the acquisition will strengthen its market leadership in underwriting technology and further its mission to maximise the value of data for commercial P&C insurers. The deal was completed on June ... Read the full article
Crop resilience shows significant progress, but more efforts required: Swiss Re Institute
22nd June 2023
Swiss Re Institute's recent Sigma Report recognises substantial global progress in crop resilience but emphasises the urgent need for additional efforts to address the significant $113 billion crop protection gap. Crops, which account for 65% of global agricultural output, serve as a crucial indicator of the overall resilience of the agriculture ... Read the full article
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