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FERMA urges Belgian Presidency to amplify risk management
31st January 2024
The Federation of European Risk Management Associations (FERMA) has called upon the Belgian Presidency of the Council of the European Union to amplify risk management in efforts to strengthen competitiveness which would benefit the re/insurance sector. It also stated its support and encouragement for the Presidency’s efforts to transition to a ... Read the full article
Re/insurance industry partners to mitigate cloud concentration risks: Swiss Re
31st January 2024
In a strategic collaboration, global reinsurer Swiss Re has joined forces with research partner Carnegie Endowment and major cloud providers to address and mitigate the risks associated with the concentration of cloud services. This partnership has produced the paper "Cloud Reassurance: A Framework to Enhance Resilience in the Cloud," focusing on ... Read the full article
Coalition launches new Miscellaneous Professional Liability Insurance coverage
30th January 2024
Coalition, the Active Insurance provider, has announced it's new Miscellaneous Professional Liability (MPL) Insurance coverage. According to the firm, this coverage helps protect against the impact of a claim that a organisation committed errors and omissions in performing a professional service. From what we understand, the firm's MPL Insurance coverage is available ... Read the full article
Continued underwriting discipline vital after a ‘much more normal renewal’, Swiss Re’s Lot
30th January 2024
Following a difficult January reinsurance renewal season in 2023, it felt "like a much more normal renewal" this year with fewer surprises, but to ensure a sustainable balance in risk sharing, continued underwriting discipline is paramount, according to Gianfranco Lot, Chief Underwriting Officer (CUO), P&C Reinsurance, Swiss Re. "From a reinsurance ... Read the full article
Brace Underwriting launches Brace USA, names Glenn Dorr President
30th January 2024
Beat Capital-backed Brace Underwriting Limited has announced the launch of Brace USA, naming Glenn Dorr as President and Head of Marketing, North America. Headquartered in North Carolina, Brace USA is set to "mirror the appetite" of its London counterpart, focusing exclusively on binder business, excluding natural catastrophe, cyber and long-tail liability ... Read the full article
Mike Baker named Chief Client Officer of Howden Asia
29th January 2024
Howden, the global insurance group, has named Mike Baker as the Chief Client Officer of Howden Asia, with immediate effect, based in Singapore and reporting to Goh Chye Huat, Chief Executive Officer, Howden Asia. Baker’s remit in the new role is to further develop Howden's large client proposition in the region, ... Read the full article
62% of US insurers willing to take more investment risk in 2024: Conning survey
29th January 2024
62% of US insurers have said that they are willing to take more investment risk in 2024, even with concerns rising in regards to election year politics, fiscal/monetary policy, persistent inflation and volatility, according to a recent survey sponsored by insurance asset management firm Conning. According to the survey, risk expectations ... Read the full article
US insurers willing to take more investment risk in 2024 despite concerns: Conning
26th January 2024
Over half of US insurers are willing to embrace more portfolio risk in 2024 and to welcome artificial intelligence tools in the investment process, according to a recent survey by insurance asset management firm Conning. The survey was completed by 300 investment decision makers at US insurance companies in November 2023. It ... Read the full article
UK non-life outlook improving for 2024: Fitch
26th January 2024
Analysts at Fitch Ratings have explained that their sector outlook for the UK non-life London market is improving for 2024, with price increases and higher reinvestment yields expected to offset claims inflation. The rating agency also says that demand should not be much affected by the economic slowdown. At the same time, ... Read the full article
Moody’s sees reinsurance pricing remaining largely favourable in 2024
24th January 2024
Analysts at Moody's have highlighted how the reinsurance industry witnessed strong results in 2023, despite a continued elevated level of catastrophe activity, which saw more than $100 billion global insured losses. Moody's explained that development, which came after many years of challenged results, was aided by a number of factors. This included: ... Read the full article
Beth Diamond to lead claims and litigation team at Beazley
24th January 2024
Specialist insurer Beazley has announced the appointment of Beth Diamond as Group Chief Claims and Litigation Officer. In her expanded role she manages an industry-leading team servicing claims from a diverse variety of specialty insurance lines. Additionally, she leads in the development of an oversight model for all litigation matters and processes, ... Read the full article
Insurance industry responds to evolving risks with innovation and collaboration: Allianz
23rd January 2024
In the face of growing concerns over the insurability of modern risks such as cyber threats and climate-related disasters, the insurance industry is stepping up its game, according to the recently published Allianz Risk Barometer 2024. The report highlights that cyber security has become the top global risk, with cyber-attacks and ... Read the full article
John Peterson named World’s new chief growth officer
23rd January 2024
US insurance brokerage World Insurance Associates LLC (World), has announced the appointment of John Peterson as chief growth officer, effective January 10, 2024. In his new role, based in Chicago, Peterson will be dedicated to driving new business, client cross sell initiatives, and he will also oversee the Retail sales infrastructure. Additionally, ... Read the full article
Reinsurers face challenges in 2024 amidst changing market dynamics: Morgan Stanley
22nd January 2024
According to insights gathered by Morgan Stanley, reinsurers experienced a pullback towards the end of 2023, prompting investors to scrutinise the factors that could drive the industry beyond the highs of the previous year. The report highlights that while reinsurance pricing remains robust, it is not as formidable as in 2023. ... Read the full article
Alta Signa unveils European Marine underwriting unit
19th January 2024
Alta Signa, the European boutique managing general agent (MGA), has launched a new European Marine underwriting business, which is set to focus on core marine lines of business, backed by the firm's panel of insurance partners - Axeria IARD, SiriusPoint and Sompo International. The unit's team bring a deep level of ... Read the full article
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