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Arch Insurance International names Senior Underwriter for Terrorism and Political Violence
9th June 2023
Arch Insurance International, part of Arch Capital Group Ltd., has appointed Jalal Chtioui as the Senior Underwriter for Terrorism, Political Violence, and War, effective immediately. In this role, Chtioui will primarily focus on underwriting political violence risks in the Middle East and North Africa (MENA) region, while also supporting Arch's expansion ... 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
Reinsurers to continue to protect their balance sheets: KBW
6th June 2023
Reinsurers' focus on protecting their balance sheets rather than absorbing earnings volatility has led to a trend of shifting unprofitable loss layers back to primary carriers, and executives expect this trend to continue throughout 2023 and likely into 2024, KBW noted. This trend is driven by rising reinsurance rates and ... Read the full article
USQRisk appoints Alex Chen as Head of US Pricing and Senior Underwriter
6th June 2023
USQRisk, the international managing general agent specialising in alternative risk transfer solutions, has appointed Alex Chen as Head of US Pricing and Senior Underwriter. According to USQRisk, Chen will be involved in its underwriting of alternative risk transfer solutions globally and will be leading the pricing of the MGA’s US deals. He ... Read the full article
Corvus Insurance names Albert Zhou as Chief Risk Officer
2nd June 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced the appointment of Albert Zhou as Chief Risk Officer. Zhou will report directly to Corvus Insurance's President, Prashanth Gangu, and join the company's leadership team. Zhou, a seasoned insurance professional with over 12 years of cross-functional experience in actuarial, risk, and analytics, will ... Read the full article
Treefrog Consulting new Risk Management Services to meet BMA September 1st regulations
1st June 2023
Bermuda-based Treefrog Consulting has announced s Risk Management Services specifically designed to help organisations in the re/insurance, and ILS sector meet Bermuda Monetary Authority's (BMA) new Insurance and Cyber Codes of Conduct regulations. Coming into effect on September 1, 2023, the BMA regulations call for the implementation of an effective Risk ... Read the full article
Duck Creek names Chris McCloskey as Chief Operating Officer
31st May 2023
Duck Creek Technologies has announced the addition of Chris McCloskey to its leadership team as Chief Operating Officer. Duck Creek states that the addition of McCloskey will be instrumental in driving key strategy, operational and transformation initiatives across the entire business, particularly within its customer and professional services organisations. McCloskey joins Duck ... Read the full article
WTW launches intangible asset policy
30th May 2023
Global broker WTW has announced the launch of a financial product targeting clients looking to protect their intangible assets. Described as a first-of-its-kind product, WTW said its Intangible Asset Protection (IAP) looks to meet client demand and to fill a coverage gap in the market. An intangible asset is one that is ... Read the full article
WTW launches insurance product to protect intangible assets
25th May 2023
WTW, a global advisory, broking and solutions company, has introduced a new financial product targeting clients intending to protect and leverage their intangible assets by considering a transfer of the associated risks. An intangible asset is one that is not physical in nature but one that can hold significant value, and ... Read the full article
Verisk appoints new senior leaders for PCS
25th May 2023
Verisk has announced that Ted Gregory and Alex Mican will be assuming new leadership roles in the PCS business unit of the organization. Mican and Gregory are both market veterans each having a decade's worth of experience at Verisk. They have also driven many of PCS’s most important innovations during this period, ... Read the full article
Cowbell strengthens underwriting capabilities with key hires to UK and US teams
24th May 2023
Cyber insurance provider Cowbell has announced significant enhancements to its underwriting capabilities through the appointment of new team members in the UK and the US. Claud Bilbao, a seasoned underwriter with extensive experience in the cyber and technology insurance sector, has joined Cowbell as the UK Director of Underwriting. Bilbao, who will ... Read the full article
Howden, SMI & R-Cities launch joint global partnership to address urban climate change vulnerabilities
24th May 2023
International insurance group Howden Group Holdings, The Sustainable Markets Initiative (SMI), and Resilient Cities Network (R-Cities) have announced a “first of its kind” top talent secondment programme that this year will place five insurance professionals into five cities’ leadership teams for three to six months each. According to the announcement, this ... Read the full article
Ryan Specialty to acquire Socius by July 2023
24th May 2023
Ryan Specialty, an international specialty insurance firm, has announced that it has signed a definitive agreement to acquire Socius Insurance Services. Although the terms of the acquisition were not disclosed, it is expected to close in July 2023. Socius is a national wholesale insurance broker headquartered in Northern California. This will be ... Read the full article
London’s share of global insurance market ‘stagnant’ at around 8%, says LMG CEO: FT
23rd May 2023
Caroline Wagstaff, CEO of the London Market Group, which represents the specialist insurance sector in the City, points out that London's portion of the worldwide insurance market has been "stagnant", hovering around 8% in recent times, the Financial Times reported. London's insurance market, centered around Lloyd's of London, is facing challenges ... Read the full article
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