Reinsurance News
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
Lockton names Mark Drummond-Brady as Advisor to Senior International Leadership Team
22nd June 2023
Global insurance broker Lockton has announced the appointment of Mark Drummond-Brady as Advisor to the Senior International Leadership Team, effective July 1, 2023. Drummond-Brady, a highly experienced insurance industry veteran with over 40 years of expertise, will provide valuable advice and counsel to support Lockton's ongoing growth plans. Drummond-Brady's career in the ... Read the full article
NACD and Marsh McLennan urge greater board risk oversight
22nd June 2023
The National Association of Corporate Directors, the authority on boardroom practices representing more than 23,000 directors, in partnership with Marsh McLennan, have published their Risk Committee Blueprint as part of the NACD Future of the American Board initiative. The Risk Committee Working Group is a panel of corporate board leaders from ... Read the full article
HDI TH!NX launches Leak360 for early detection and prevention of water leaks
22nd June 2023
HDI TH!NX, a subsidiary of the HDI Group and a renowned leader in IIoT-based solutions and risk management, has unveiled Leak360, an innovative system designed to identify and prevent water leaks in buildings. Recognising that water leaks pose a significant financial burden, HDI TH!NX aims to provide round-the-clock protection and minimise ... Read the full article
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