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Insurance market remains strong but faces new challenges: LCP

8th September 2023

LCP's seventh annual analysis of Solvency II reporting has revealed that the financial strength of the UK and Ireland's largest non-life insurers remains robust, with the average eligible own funds ratio standing at 180%. The report indicates that the total eligible own funds for these insurers increased from £97 billion at ... Read the full article

Aurora secures £2.5m funding to accelerate its Algorithmic Trading proposition

6th September 2023

Aurora, a digital commercial insurance platform for micro, small and mediums-sized businesses, has announced that it has secured an additional £2.5 million in funding to accelerate its Algorithmic Trading proposition. The funding total is made up of seven-digit support from Innovate UK, the UK’s national innovation agency, and an equity raise. According to ... Read the full article

European Big Four benefiting from hard reinsurance market conditions: AM Best

31st August 2023

The European Big Four are benefiting from the hard reinsurance market conditions evident during the 2023 renewals with improved pricing and terms and conditions across reinsurance lines of business and geographies, as per a recent AM Best report. According to the rating agency, higher inflation expectations are reflected in pricing, attachment ... Read the full article

China Re reports substantial H1 net profit increase as P&C segment shines

30th August 2023

China’s largest reinsurance company, China Re, has disclosed it achieved a net profit of RMB 2.067 million in H1 of 2023, up substantially from RMB 365,972 in the same period last year. China Re's gross written premiums during H1 amounted to RMB 102.617 million, representing a year-on-year increase of 16.6%. Meanwhile, ... Read the full article

Innovation key for re/insurers as climate trends threaten to widen protection gap: AM Best

24th August 2023

Global ratings agency AM Best has underscored the importance of innovation amid a widening protection gap (disparity between economic and insured losses post-event) driven by climate trends and emerging risks. 2022 was another year of above-average catastrophe losses for re/insurers, and recent analysis has suggested that annual losses will again exceed ... Read the full article

Aviation specialist Simon Harker joins Inigo Limited

24th August 2023

Inigo Limited has announced the appointment of Simon Harker who will work alongside Ed Whitworth who assumes responsibility for Aviation underwriting. Harkerjoins Inigo from insurance broker Marsh, where he most recently served as Global Chairman and CEO of Marsh Aviation. Matthew Rolph, Head of Distribution at Inigo said: "We are very proud ... Read the full article

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

MS Amlin’s John Wynne Davies joins Coalition’s Special Projects team

22nd August 2023

Cyber insurance provider, Coalition has announced that John Wynne Davies has joined the company as its first Special Projects Lead in the UK. Having previously served as MS Amlin’s Strategy Manager for Lloyd’s, in his new role, Wynne Davies will be responsible for developing and implementing Coalition’s strategy in the UK, which ... 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

APAC sees increased demand for solutions in Q2, insurers focused on retention and growth: Aon

21st August 2023

An increased demand for insurance solutions has been seen in the Asia-Pacific region (APAC) as its economies open to the rest of the world and businesses look to grow, this was met by insurers focused on retention and targeted growth, according to Aon’s Q2 2023 Global Market Insights report. The pricing ... Read the full article

Ategrity launches professional lines practise led by Doug Karpp

21st August 2023

Ategrity Specialty Insurance Company, a specialty excess and surplus lines carrier, has launched a Management and Professional Liability business offering products designed for the needs of small- to mid-sized companies. These offerings are part of Ategrity’s broader evolution, since its inception in 2018, toward covering the middle market. Since 2022, the company ... Read the full article

Dynamic shifts reshape global insurance landscape in Q2’23: Aon

18th August 2023

In the second quarter of 2023, the global insurance market experienced a series of dynamic shifts that shaped pricing, capacity, underwriting practices, limits, deductibles, and coverages, according to the Aon Q2 2023 Global Market Insights report. The report indicates a prevailing upward pressure on pricing across most sectors of the insurance ... Read the full article

Commercial insurance premiums continue to rise in Q2’23 – CIAB

17th August 2023

In the second quarter of 2023, the commercial insurance market witnessed a steady trajectory of premium increases, marking the 23rd consecutive quarter of such increments, according to a report by The Council of Insurance Agents & Brokers (CIAB). The average rise stood at 8.9%, a marginal uptick from the previous quarter's ... Read the full article

COGITANDA names Jens Lison as Chief Insurance Officer

16th August 2023

Germany headquartered manager and insurer of cyber risks, COGITANDA Dataprotect AG, has appointed Jens Lison as a member of the Executive Board and Group Chief Insurance Officer (CIO), effective 1st September 2023. Currently, the Executive Team consists of Jörg Wälder, Chief Executive Officer (CEO), Christian Sagawe, Chief Operating Officer (COO) and ... Read the full article

Lockton names Greg Spore as U.S. Financial Services Markets Leader

15th August 2023

Lockton, the world's largest privately held independent insurance brokerage firm, has announced the appointment of Greg Spore as the new U.S. Financial Services Markets Leader. This strategic addition reinforces Lockton's unwavering commitment to innovation, expansion, and unparalleled client service within critical financial sectors. "The addition of Greg, who has a proven track ... Read the full article