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Descartes adds Blanca Berruguete as Head of EMEA Distribution and Client Management
7th February 2025
Descartes, the corporate parametric insurance solutions for climate, cyber, and emerging risks, has appointed Blanca Berruguete as Head of Europe, the Middle East and Africa (EMEA) Distribution and Client Management, with a special focus on Europe. She will report to Descartes’ Co-founder and Chief Insurance Officer, Sébastien Piguet, and will be ... Read the full article
Poll suggests re/insurers to prioritise AI and machine learning in 2025
7th February 2025
As the re/insurance market progresses into 2025, the industry is prioritising innovation to stay ahead, with a high percentage (55%) focusing on AI and machine, a recent Reinsurance News poll has revealed. This emphasis on AI and machine learning reflects the growing recognition of its transformative potential in areas such ... Read the full article
Cowbell launches new unit to support US businesses against AI-driven threats
5th February 2025
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has launched the Cowbell Resiliency Services (CRS) unit to complement its existing risk management program. The unit was created in response to a rise in the frequency, severity, and diversity of cyber threats. Simultaneously, the unit also aims to tackle sophisticated ... Read the full article
Global commercial insurance rates down 2% in Q4’24: Marsh
5th February 2025
After seven years of rate increases, global commercial insurance rates declined for the second consecutive quarter in Q4 2024, by 2% following a 1% fall in Q3, continuing the moderating trend seen in the Marsh Global Insurance Market Index since Q1 2021. The analysis from insurance broker Marsh shows that during ... Read the full article
MGA Onda welcomes Stuart McMillan to UK sales team
5th February 2025
Cyber managing general agent (MGA) Onda has announced the addition of Stuart McMillan to its UK sales team as Distribution Director. McMillan brings a wealth of experience in international markets and a deep understanding of cyber insurance products to the role. The executive joins Onda from Coalition, where he most recently served ... Read the full article
Ryan Specialty Underwriting Managers launches Celerity Risk
4th February 2025
Ryan Specialty Underwriting Managers (RSUM) has launched Celerity Risk, a newly rebranded business unit formed following its acquisition of Innovisk Capital Partners in November 2024. The launch sees the integration of CorRisk Solutions, the U.S. wholesale division of Ryan Financial Lines, with Celerity Pro, formerly part of Innovisk. This combined entity ... Read the full article
Markel realigns US professional liability products into four segments
4th February 2025
Markel, the insurance arm of global re/insurer Markel Group Inc., has reorganised its US professional liability products into four distinct pillars: management liability, errors and omissions (E&O), cyber, and financial institutions. The company states that this realignment is an effort to serve its clients better. As part of the restructuring, Markel will ... Read the full article
Hiscox looks to strengthen market position with new FI offering
3rd February 2025
Specialist insurer and reinsurer Hiscox has launched a new Financial Institutions (FI) offering, providing clients with four areas of cover including Directors’ and Officers’ (D&O), Professional Indemnity/Errors and Omissions, Crime, and Cyber. The product expansion is expected to strengthen Hiscox’s position in the market, and will be led by recently-appointed Joe Dearsley, ... Read the full article
CFC promotes Jason Hart and James Burns to senior roles
3rd February 2025
CFC, a specialist insurance provider focused on emerging risks and cyber, has promoted James Burns to Global Head of Cyber and Jason Hart to Managing Director, Proactive & Global Security Services. In this newly created role, Burns will oversee CFC’s global cyber strategy, underwriting, and sales teams. Burns has been with CFC ... Read the full article
Bermuda re/insurers’ underwriting results to weaken but strong returns should persist: Fitch
3rd February 2025
According to global ratings agency Fitch Ratings, due to premium rates being pressured and the increase in loss costs, Bermuda-domiciled re/insurers' underwriting results are expected to deteriorate in 2025, although strong returns should continue as capital remains "robust." Bermuda-based insurer and reinsurers are expected to continue producing favourable returns in 2025 ... Read the full article
Ki welcomes QBE as capacity partner on its platform
30th January 2025
Ki, the algorithmically-powered Lloyd’s digital follow platform, has entered into a strategic partnership with QBE to add the global insurance and reinsurance company's capacity to its platform starting February 3rd, 2025. In addition to this, Ki has confirmed that it will offer enhanced partner capacity for risks incepting from March 1st, ... Read the full article
Cowbell appoints James Porter as Lead Underwriter UK
30th January 2025
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has announced the appointment of James Porter as Lead Underwriter for the UK’s middle market segment. In this role, Porter will lead a team to deliver tailored cyber insurance solutions for UK businesses. Simon Hughes, SVP, Global Distribution at Cowbell, expressed ... Read the full article
AXIS reports solid underwriting result across insurance and reinsurance as premiums swell
30th January 2025
Bermudian re/insurer AXIS Capital has reported net income of $286 million and $1.1 billion for the fourth quarter and full year 2024, respectively, as the company's insurance and reinsurance segments produced an underwriting profit for both periods, despite elevated catastrophe activity. AXIS Capital's President and CEO, Vince Tizzio, has described 2024 ... Read the full article
RIMS sets key legislative priorities for 2025 to drive risk management advocacy
29th January 2025
RIMS, the risk management society, is committed to advancing the profession by guiding its members through complex legislative, regulatory, and legal matters, with its Public Policy Committee analysing these issues, recommending policies, responding to emerging risks, and educating members on their impact, while setting key legislative priorities for 2025 to ... Read the full article
Chubb names Stapleton CUO & Neu EVP, Financial Lines, Overseas General Insurance
27th January 2025
Global property and casualty insurer Chubb has announced two key leadership appointments within its Overseas General Insurance (COG) business, Tim Stapleton as Chief Underwriting Officer (CUO) and Jason Neu as Executive Vice President (EVP), Financial Lines. As CUO of COG, a newly created role, Stapleton will be responsible for advancing the ... Read the full article
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