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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
Acrisure announces rebrand with the aim to unify its subsidiaries under one umbrella
22nd May 2023
Acrisure has announced that it will begin to unify under a single brand to best represent its status as a global fintech company that offers multiple financial products and services. The company will organize by geographic region and operating platforms led by existing Acrisure Partners. The rollout of the platforms and ... Read the full article
Nirvana partners with Insureflow, to help drive efficiencies and grow the business
19th May 2023
Nirvana, the Media, Tech and Cyber-focussed managing general agent (MGA), has announced it has chosen to partner with Insureflow, an insurance software solutions provider, to help drive efficiencies and grow the business. Chanrai, the Founding Director of Nirvana said, “We are excited about our partnership with Insureflow. We think Insureflow’s technology ... Read the full article
Softer pricing for U.S. D&O insurance segment as market stabilizes in 2023: AM Best
18th May 2023
After two years of hard market conditions, the U.S. directors and officers (D&O) insurance market stabilized toward the end of 2022. AM Best noted that pricing increases moderated and renewal pricing was flat on average indicating the stabilisation. In 2022, D&O liability coverage was one of the property/casualty lines that were ... Read the full article
Cowbell appoints Andrea Collins as Chief Marketing Officer
17th May 2023
Cyber insurance provider Cowbell has announced the appointment of Andrea Collins as its first Chief Marketing Officer. Collins, a marketing and communications expert with over two decades of experience, will join the executive leadership team, reporting directly to Cowbell's founder and CEO, Jack Kudale. In her new role, Collins will be responsible ... Read the full article
Hiscox hires Beth Boucher as Independent Non Executive Director
16th May 2023
International specialist insurer Hiscox, has appointed Beth Boucher as Independent Non Executive Director, subject to regulatory approval. Boucher brings over 25 years of industry experience towards the role. Throughout her career, she has led global teams and initiatives across multiple industries. During her time working at numerous firms, such as Fortium Partners, ... Read the full article
Corvus delivers “industry-leading” loss ratio of 36%
15th May 2023
Corvus Insurance, an AI-powered cyber specialty insurer, has announced its US “industry-leading” 2022 ultimate loss ratio of 36%. According to the announcement, this figure has been independently verified and includes all lines and all risk capital partner results. The insurer highlighted that its leading loss ratio is indicative of the strength of ... Read the full article
CFC appoints Lori Marino to Distribution Leader, USA
11th May 2023
CFC, a specialist insurance provider, has appointed Lori Marino to the newly created role of Distribution Leader, USA. In this new role, Marino will be based out of New York, where she will hold responsibility for broker relationship management, as well as CFC’s distribution strategy across the US market. She joins CFC ... Read the full article
Aon flags continued upward pricing pressure through Q1
11th May 2023
Analysts at global professional services firm Aon have noted continued upward pricing pressures through the first quarter of 2023, including ongoing inflation and rising loss costs, as well as surging reinsurance pricing and a contraction of reinsurance capacity. At the same time, however, a strengthening of insurer profitability and pressure to ... Read the full article
AXIS Capital makes two key leadership appointments
9th May 2023
AXIS Capital, a global specialty underwriter and provider of re/insurance solutions has appointed Mark Gregory as Head of Global Markets and Michael J. McKenna as Head of North America. Both appointees will report directly to Vince Tizzio, President and CEO of AXIS. In his new role as Head of Global Markets, Gregory, ... Read the full article
1.4 methodical & measured as pricing momentum continued: Swiss Re
9th May 2023
"While 1.1 was quite uncertain, 1.4 was much more methodical, market and economic conditions and dynamics didn’t change dramatically, so the process was much more measured," suggests Gianfranco Lot, Chief Underwriting Officer P&C Reinsurance at Swiss Re. According to Lot, expectations were better managed for 1.4, as the 1.1 renewal enabled ... Read the full article
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