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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
Alternative financing, ESG scrutiny to increase in M&A: Report
15th August 2023
Alternative financing is expected to increase over the next 12 months, according to Aon’s and data provider Mergermarket’s M&A Risk in Review latest edition. The survey revealed that 50 senior executives from corporate development teams, private equity firms and investment banks, dealmakers remain upbeat about the health of the M&A arena. Nearly ... Read the full article
Property cat reinsurance rates 1.5x above 2017 trough: Peel Hunt
11th August 2023
The Florida-focused June 1 renewals showed a continued rise in property catastrophe reinsurance rates, with analysts at Peel Hunt highlighting that rates are now 1.5x higher than the 2017 trough and 46% above the previous peak all the way back in 2006. Citing data from broker Howden Tiger, analysts note that ... Read the full article
83% of US businesses actively looking to seek additional insurance policies: Arthur J. Gallagher
11th August 2023
83% of business owners have expressed worries about specific events or losses that have the potential to affect their business, with another 83% stating that they are either actively looking, or very likely to seek additional insurance policies to provide greater protection. Global brokerage, Arthur J. Gallagher & Co., recently commissioned ... 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
M&A activity in global insurance industry sees sharp drop in H1’23: Clyde & Co
11th August 2023
The global insurance industry has experienced a significant decline in mergers and acquisitions (M&A) during the first half of 2023, according to Clyde & Co's Insurance Growth Report mid-year update. Completed deals totaled 171 worldwide, marking a substantial decrease from 207 in the second half of 2022 and 242 during the ... Read the full article
Favourable reinsurance market conditions likely to sustain into 2025, says Munich Re’s Wenning
10th August 2023
Joachim Wenning, Chairman of the Board of Management and CEO at Munich Re, has said that the global reinsurer expects current, favourable market conditions to persist beyond next year and into 2025. Wenning stated in the recently held Munich Re earnings call, that in Munich Re's view, "the favourable market environment ... 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
Vast majority of portfolio is rate adequate, reflecting strong financial position: Hiscox CUO
9th August 2023
In a recent earnings call, Joanne Musselle, Group Chief Underwriting Officer (CUO) of international specialist insurer Hiscox, highlighted the company's satisfaction with the current state of their portfolio's rate adequacy. "Just as a reminder, we've been in a hardening rate market for now five years. We've seen substantial rate increases ... Read the full article
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