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UIB announces new Corporate & Capital Risks practice

25th October 2022

Re/insurance broker UIB has announced the formation of its new practice, Corporate & Capital Risks, following a major restructuring of its Specialty Lines division. James Wilson will lead the new practice, which UIB states will cater to ... Read the full article

Moody’s partners with Cytora to digitise core risk workflows

25th October 2022

Moody’s Analytics and insurtech, Cytora, have entered into a partnership to provide the commercial insurance industry a more streamlined and informed understanding of risk. The data provided by Moody’s comes pre-integrated into the Cytora platform, which will provide insurers with a superior risk selection driving uplift to GWP. Commercial insurers will now ... Read the full article

E+S Rück predicts ‘significant’ improvements in P&C reinsurance risk-adjusted prices and conditions

24th October 2022

Hannover Re subsidiary E+S Rück has said it expects significant improvements in risk-adjusted prices and conditions in property and casualty reinsurance on the back of continued heavy claims expenditure and soaring inflation. Dr. Michael Pickel, chief executive officer of E+S Rück, said: "Both insurers and reinsurers alike find themselves facing a ... Read the full article

WTW names Michael Machin Head of Broking for FINEX North America

21st October 2022

Global advisory, broking and solutions company, WTW, has announced the appointment of Michael Machin as Head of Broking for FINEX North America, Corporate Risk & Broking (CRB). Machin will also join the FINEX NA leadership team and partner with the FINEX segment leaders to advance strategic priorities for the business. In his ... Read the full article

Tightening cat market could be a tailwind for Guy Carpenter: Dean Klisura

20th October 2022

The impact of Hurricane Ian on an already stressed property market is expected to be significant and contribute to a much more challenging 1/1 renewals, but further tightening in the catastrophe space could be a tailwind for reinsurance broker Guy Carpenter, according to executives. Earlier today, Marsh McLennan (MMC) reported ... Read the full article

Bleak outlook for Europe as inflation to remain high in 2023: Munich Re

20th October 2022

According to a report from Munich Re, inflation is set to remain high in 2023, leading to a bleaker economic outlook for Europe as mixed crises are causing unprecedented levels of complexity in the business environment for re/insurers worldwide. Thomas Blunck, a Member of the Board of Management, commented, "The outlook ... Read the full article

CFC hires George Beattie to be new head of innovation

20th October 2022

Specialist insurance provider CFC has hired George Beattie to be its new head of innovation. The firm said that Beattie, in his new role, will be leveraging its technology and data science. He begins in January 2023 and joins CFC from Beazley where he has lead the incubation underwriting function for ... Read the full article

Guy Carpenter expands delegated authority capabilities, adds new hires

19th October 2022

Reinsurance broker, Guy Carpenter has announced it has expanded its capabilities in the delegated authority arena. It is welcoming three new members to its GC Access team and forming a new collaboration with Guy Carpenter’s Ratings Advisory Service. Bryan Willingham joins as Managing Director and Co-Head of the Southwest Region. He ... Read the full article

Commercial pricing to carry on showing modest deceleration: Goldman Sachs

18th October 2022

According to a recent Goldman Sachs report, commercial pricing is expected to continue to show modest deceleration in the quarter. This is mainly due to higher investment yields and improved underwriting over the past several years which have modestly outweigh ongoing inflationary pressures. Analysts noted that in the first two months ... Read the full article

Everest expands Europe presence with offices in Paris and Düsseldorf

17th October 2022

Everest Insurance, the insurance division of Everest Re Group, has said it is expanding further into the European market through the opening of new branches in France and Germany. The firm said in a statement that the two branches would be in Paris and Düsseldorf. The French branch will be known ... Read the full article

KBW forecasts decline in specialty reinsurer loss ratios

17th October 2022

Analysts at KBW say they are expecting to see a broad decline in specialty reinsurers’ core loss ratios year-on-year, as they assess the market in the wake of Hurricane Ian and amid the challenging interest rate environment. Looking at the implications of these conditions for various business lines, KBW is forecasting ... Read the full article

SecondSight launches AI-driven platform for underwriting amid funding round

14th October 2022

SecondSight has announced the launch of an AI-driven platform for "inside-out" underwriting, alongside an "oversubscribed" $3 million seed round of financing led by Tim Crown (co-founder of Insight Enterprises) with participation from Indiana Ventures, Cook Ventures, and Flywheel Fund, among other investors. SecondSight states that its product is the insurance industry’s ... Read the full article

Cowbell appoints David Junius to CFO role

13th October 2022

Cowbell has appointed David Junius to be its new chief financial officer. Junius, who recently departed his role of chief financial officer at SiriusPoint, joins the firm in the wake of Cowbell debuting Adaptive Cyber Insurance. Jack Kudale, founder and CEO at Cowbell, said: "I am looking forward to David joining ... Read the full article

Coalition and BDT Capital Partners announce the formation of Ferian Re

13th October 2022

Coalition has announced the formation of Ferian Re – an independent Bermuda-based Class 3B reinsurer that will provide capacity across Coalition’s cyber programs. Ferian Re will be capitalized with approximately $300 million from an investor group led by funds managed by BDT Capital Partners, LLC, an affiliate of BDT & Company, LLC, a merchant ... Read the full article

Embroker hires David Derigiotis to new role as CIO

13th October 2022

Digital platform Embroker has named David Derigiotis as its new chief insurance officer. The firm said in a statement that Derigiotis was coming onboard to lead the development of Embroker’s innovative insurance vertical products, particularly cybersecurity, technology, and privacy offerings. Before taking on this new role, Derigiotis served as corporate senior vice ... Read the full article