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Munich Re backs Amber Group digital asset cover by Arch & OneDegree

21st June 2022

Global digital asset platform Amber Group has secured insurance coverage for its wallet infrastructure from Arch Syndicate 2012 at Lloyd's and insurtech firm OneDegree, which is supported by a multi-year reinsurance partnership with Munich Re. The comprehensive global insurance coverage will protect digital assets held in Amber Group’s wallet infrastructure on ... Read the full article

London market conditions “exciting” for reinsurers: Berenberg

21st June 2022

Analysts at Berenberg have said that “there is a lot for reinsurers and London Market participants to be excited about,” despite the challenges of a difficult macro environment. In a new report, the firm notes that pricing was even better than expected when companies reported at Q1 and the market is ... Read the full article

Corvus appoints Paul Gaspar as Chief Data Officer

16th June 2022

Corvus Insurance, the specialty MGA, has announced the appointment of Paul Gaspar as Chief Data Officer, effective immediately. In this role, Gaspar will lead Corvus’s data infrastructure evolution and innovation. He is charged with scaling Corvus’s core data streams and identifying new sources of information to build upon the company’s ... Read the full article

Crypto & quantum computing among top risks flagged by Swiss Re

16th June 2022

Crypto assets and quantum computing have been flagged by analysts at Swiss Re as two of the most significant emerging risks for insurers and reinsurers, with the potential to create new risks within the global financial system. Swiss Re's 10th edition of SONAR covers 14 emerging risk topics across technological, economic, ... Read the full article

Positive outlook for M&A activity, say Aon and Mergermarket

15th June 2022

The recently released M&A Risk in Review report by Aon and Mergermarket, has found optimism in the market as it suggests that last year's resurgence of M&A activity can be somewhat sustained, yet headwinds persist in the wake of the Covid-19 pandemic. Even though record levels will ... Read the full article

Inflation and geopolitical risks increasing concern for business owners, says Beazley

15th June 2022

A new report from Beazley outlines how business leaders are fearing the consequences of war and inflation. The report, Spotlight on Geopolitical Risks, shows that US and UK business leaders feel able to manage current geopolitical risks, even as concerns over war have risen in the last year. It also found ... Read the full article

US P&C industry’s net incurred losses increases by 12%: AM Best

14th June 2022

According to a new AM Best report, despite witnessing a growth of more than 9% in both direct (DPW) and net premiums (NPW), US property & casualty (P&C) insurers still incurred an $3 billion underwriting loss in 2021. The underwriting loss was largely attributable to a 12.6% increase in net incurred ... Read the full article

Aon agrees to sell eDiscovery practice to TCDI

14th June 2022

Broker Aon, has agreed to sell its eDiscovery practice to TCDI – a leading provider of legal services, software and cybersecurity. The acquisition will strengthen and expand TCDI’s eDiscovery capabilities and geographic reach into the UK. It will also add expansive advisory services such as information and governance to the company’s comprehensive ... Read the full article

“Hard market likely to continue into 2023” – Goldman Sachs

13th June 2022

Goldman Sachs says that the industry is currently in the hardest part of a market cycle that is set to continue into next year. The firm wrote a new note reflecting on the Twenty-Sixth Annual European Financials Conference. In it, it said that claims inflation, geopolitical uncertainty, and natural catastrophe are ... Read the full article

New filters added to the 2022 FM Global Resilience Index

13th June 2022

The 2022 FM Global Resilience Index has been released and updated with 15 economic, risk quality, and supply chain measures that offer insights into the vulnerabilities of a country’s business environment and its resilience. The interactive web tool has been enhanced with climate risks and environmental, social and governance (ESG) filters ... Read the full article

Reinsurers need to rebuild confidence: Ariel Re CEO

10th June 2022

Ariel Re CEO Ryan Mather has asserted that the reinsurance industry needs to work to rebuild confidence in the sector, following a period of challenging conditions and inadequate returns. Speaking in an interview with Reinsurance News, Mather discussed the thinking behind Ariel Re’s "front foot" approach to catastrophe risk and the ... Read the full article

P&C industry strong despite underwriting losses: analysts

10th June 2022

Despite experiencing an underwriting loss, the property andcasualty insurance industry ended 2021 strong and remains able to support policyholders, according to a report from Verisk and the American Property Casualty Insurance Association (APCIA). In 2021, the insurance industry experienced a $3.8 billion net underwriting loss, after a $5.2 billion underwriting gain ... Read the full article

DynaRisk closes seed funding round

10th June 2022

Insurtech firm DynaRisk has closed its seed funding round after raising $7m of capital since its launch. According to the company, this new round of funding will be used to meet the growth demand for its existing products, expand geographically and develop new products to widen the company's reach. Andrew Martin, CEO ... Read the full article

Insurance Europe urges policymakers & public to collaborate to tackle protection gaps

8th June 2022

Speaking at the 12th International Insurance Conference, in Prague, Andreas Brandstetter, Insurance Europe president, urged policymakers, insurers and the public to work together to address the significant protection gaps that exist in societies and economies. Brandstetter stressed the need for policymakers to ensure that regulatory frameworks are fit for purpose and ... Read the full article

Ascot appoints Chiolan as EVP, Management & Professional Liability

8th June 2022

Specialty re/insurer Ascot has appointed Brian Chiolan in the newly created position - Executive Vice President, Management & Professional Liability. He will report directly to Matt Kramer, CEO, US Insurance. Within this new role, Chiolan will have oversight responsibility for the re/insurer’s US Management Liability, Financial Institutions, Professional Liability & Cyber portfolios ... Read the full article