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Gallagher appoints Jamie Gee as Associate Director, Financial Lines, Middle East & Africa

22nd August 2023

Global insurance broker Gallagher has announced the appointment of Jamie Gee as Associate Director within its financial lines practice in the Middle East and Africa business. Daniel Miller, Divisional Director of Gallagher, commented on the hire, “Jamie brings fantastic technical knowledge and strengthens our existing capability and proposition. His experience in ... Read the full article

HDI Global SE’s insurance revenue rises by 10% in H123

22nd August 2023

The industrial insurer HDI Global SE part of the Talanx Group has reported that insurance revenue rose by a clear 10% to €4.2 billion in the first half of the year, compared to €3.8 billion from the same period last year. According to the firm, this solid performance was partly due ... Read the full article

AI becomes one of the top five emerging risks in Q2 2023: Gartner

11th August 2023

Generative artificial intelligence (AI), such as OpenAI’s ChatGPT and Google Bard, has become a top concern for enterprise risk executives in the second quarter of 2023, according to a recent report by Gartner, Inc. In May 2023, Gartner surveyed 249 senior enterprise risk executives to provide leaders with a benchmarked view ... Read the full article

Resilience raises $100m in Series D funding round

10th August 2023

Resilience has announced a $100 million equity financing round to accelerate its global expansion. The company also plans to scale the adoption of its holistic cyber risk platform, the Resilience Solution launched earlier this year. The Series D round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, ... Read the full article

Travelers secures additional hurricane reinsurance at renewal, upsizes Northeast property cat treaty

20th July 2023

US primary insurer Travelers has again increased the size of its Northeast property catastrophe excess-of-loss (XoL) reinsurance treaty by $100 million at the mid-year renewals, during which the firm also entered into a new personal insurance hurricane catastrophe XoL treaty. Renewed at the July 1st, 2023, reinsurance renewals, Travelers' Northeast property ... Read the full article

London Market fundamentals “very strong”, outlook positive: Berenberg

15th June 2023

"We struggle to identify a recent period when the fundamentals of the London Market sub-sector have been so strong, both on the asset and the liability side of the balance sheet," suggest analysts at investment bank Berenberg. Given the strong rate momentum year to date, Berenberg anticipates an improvement in London ... Read the full article

Ransomware trends on a rise, but Beazley well positioned to maintain growth: Paul Bantick

7th June 2023

Ransomware trends are on the rise but Beazley does not see its portfolio being affected as the company is well positioned to maintain growth and deliver strong profitability, specialist re/insurer Beazley's Paul Bantick said on a call held with JP Morgan analysts. Bantick, Global Head of Cyber & Tech at Beazley, ... Read the full article

June 1 renewals reflect trends that were witnessed in 1/1: Peel Hunt

6th June 2023

The recent June 1 renewals which mainly focuses on the Florida market, showed that property catastrophe reinsurance rates rose 33% on average according to Howden Tiger, However, analysts from Peel Hunt say that this lies within the 25-40% range, which reflects similar trends that were witnessed in the 1/1 renewals ... Read the full article

DeNexus to partner with NAES Corporation

21st April 2023

NAES Corporation, a provider of operations, maintenance for power generation services companies, has partnered with cyber risk modeller DeNexus, to understand, quantify, plan and mitigate risk of cyber events to critical infrastructure. Through this collaboration, NAES - a company dedicated to optimising the performance of energy facilities across the power generation, ... Read the full article

80% of insurers planning for significant growth within sustainable energy, Howden’s survey finds

30th March 2023

A recent survey conducted by international insurance broker Howden, shows that 80% of insurers are planning to achieve significant growth within sustainable energy throughout 2023, with an average planned GWP growth of 13% across respondents. The broker’s annual London Market Appetite Survey assesses the underwriting appetite by line of business and ... Read the full article

Cowbell opens new technology center in Pune, India

23rd March 2023

Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs) has announced the opening of a new technology center in Pune, India. The new center will augment the firm’s existing development centers in Pleasanton, California; Plano, Texas; and Toronto, Canada. At the same time, it will also drive further global footprint ... Read the full article

Fenix24 gets funding from insurtech investor Eos Venture Partners

21st March 2023

Cyber disaster recovery firm Fenix24 has announced a $5 million investment by Eos Venture Partners, a prominent insurtech investor. Fenix24, a sister company of Conversant Group, provides a professional cybersecurity force focused exclusively on restoring companies after cyber breach events. The firm states that Eos' investment will support it in serving additional ... Read the full article

Cowbell launches 24/7 policyholder guide service

6th March 2023

Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the launch of Cowbell 365, an around-the-clock service that offers policyholders support for risk improvement and incident response. The new service will provide 24-hour availability, 365 days of the year. Theresa Le, chief claims officer at Cowbell, commented on ... Read the full article

CloudCover partners with Hylant Global Captive Solutions

17th February 2023

CloudCover Re, a subsidiary of AI-generative cybersecurity threat prevention platform CloudCover, has announced the launch of a new cyber security captive insurance offering in partnership with Hylant Global Captive Solutions. Described as the world's first cybersecurity "rent-a-captive" insurance program, CloudCover CyberCell is a formal structure to affordably finance self-insured cyber risks. CloudCover ... Read the full article

Our journey with clients is all about meeting them where they are: Resilience’s Bryant

15th February 2023

In an Interview with Reinsurance News, Kyle Bryant, Chief Underwriting Officer at cyber risk solutions firm, Resilience, discussed the implications of a lack of reinsurance appetite for cyber risk, alongside how the firm is handling the current challenges in the market. When answering a question regarding the challenges that a lack ... Read the full article

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