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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

Specialty Program Group forms new wholesale insurance division

13th October 2022

Specialty Program Group LLC (SPG) and Program Brokerage Corporation (PBC), has announced that PBC is spinning off its general wholesale, environmental, construction, cyber and professional liability divisions to SPG and will operate under the brand Specialty Wholesale Insurance Solutions (SWIS). SWIS will become a division within Specialty Program Group LLC. SPG is ... Read the full article

Optimal risk-sharing fundamental to green transition: FERMA’s Wegener

12th October 2022

Optimal risk-sharing is fundamental to a successful transition to carbon neutrality and in the battle against cyber-crime, according to Dirk Wegener, President of the Federation of European Risk Managers (FERMA). Speaking at the FERMA Forum this week, Wegener raised three main areas of concern for risk managers: the transition to carbon ... Read the full article

Over a quarter of firms have suffered data breaches costings millions: PwC

12th October 2022

A new report from PwC says that 27% of companies have suffered a data breach leading to costs between $1m and $20m in the last three years. The survey, which the financial giant says was conducted amongst 3,500 senior executives in sixty-five countries, found that 34% of North American firms reported ... Read the full article

Lipman outlines opportunities for development in Lloyd’s Canada market update

12th October 2022

Marc Lipman, Attorney in Fact in Canada for Lloyd’s Underwriters and president of Lloyd’s Canada, provides a market update outlining opportunities for growth and development in the region's (re)insurance sector. At the end of 2021, premium income to Lloyd’s from Canada grew by 22%, with Lipman noting that Lloyd's underwrote over ... Read the full article

Consilium appoints six financial lines specialists from Ed Broking

10th October 2022

International re/insurance broker, Consilium, part of the Aventum Group, has appointed six financial lines specialists from Ed Broking. Neal Hughes and Nick Bachmann, previously Divisional Directors at Ed have been appointed Managing Partners at Consilium. Hughes spent six years at Ed Broking, as well as nine years at WTW, six years at ... Read the full article

Reinsurers must seek government backing for biggest risks: PwC’s Bichard

10th October 2022

Jim Bichard, Global Insurance Leader for PwC, has urged the insurance and reinsurance industry to seek bolder collaboration with governments and public bodies to handle the largest risks facing the market. Speaking to Reinsurance News at the recent RVS 2022 event in Monte Carlo, Bichard discussed the main trends and challenges ... Read the full article

Hurricane Ian to “dramatically” impact Florida rates: MarketScout

7th October 2022

Analysts at MarketScout, a Managing General Agent, Lloyd's Coverholder and wholesale broker, have suggested that losses from Hurricane Ian will “dramatically” impact insurance pricing across both commercial and personal lines. MarketScout data shows that the commercial market composite rate for the third quarter 2022 increased 5.28%, with property rates up 7.67%. It’s ... Read the full article

Nils Arne Fagerli to lead Marsh Specialty’s Norwegian business

7th October 2022

Insurance broker and risk advisor, Marsh, has appointed Nils Arne Fagerli as Head of Specialty in Norway. Based in Oslo, Fagerli will start his new role in April 2023. He will assume overall responsibility for Marsh Specialty’s Marine & Cargo, Energy & Power, and Construction industry clients in the country. Additionally, the ... Read the full article

Elpha Secure raises $20m in Series A funding led by Canapi Ventures

7th October 2022

Elpha Secure Technologies has completed a $20m Series A funding round led by Canapi Ventures, with participation from Stone Point Ventures, AXIS Capital, State Farm Ventures, The Hartford STAG Ventures, Fermat Capital Management, and EOS Venture Partners. Elpha Secure provides a cyber protection solution for small and midsize businesses that marries ... Read the full article

Munich Re acquires API-focused insurtech

6th October 2022

Reinsurance giant Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software-as-a-Service (SaaS) for the insurance industry’s ecosystem. apinity is an API software platform that enables insurers to utilise third-party API services, in turn making it possible to transparently manage both ... Read the full article

Remediation is bearing fruit at Lloyd’s ahead of 1/1 filled with opportunity: LMA’s Davison

6th October 2022

Following a strong underwriting performance in the first-half of 2022, remediation efforts at the specialist Lloyd’s insurance and reinsurance marketplace are proving successful, which puts the sector in a good position ahead of the important January 1st, 2023, reinsurance renewals. While investment losses dented the market’s overall result for H1, Lloyd’s ... Read the full article

Aon expands reputational risk data and analytics capabilities

6th October 2022

Global professional services firm, Aon, has expanded its data and analytics capabilities for reputational risk with the acquisition of advanced analytics and advisory services provider, Pentland Analytics’ reputation crisis database. The transaction also includes Pentland’s proprietary modelling algorithms and a cloud-based web app for clients. According to the announcement, the reputation crisis ... Read the full article