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Accelerant expands presence to Canada through acquisition of Omega Insurance

16th October 2023

Insurtech firm Accelerant is set to expand its presence into the Canadian market through the acquisition of Omega Insurance Holdings, Inc., from Till Capital Ltd. Omega Insurance Holdings offers secure, innovative and customized solutions for re/insurers entering and exiting the Canadian insurance market. Jeff Radke, CEO and co-founder of Accelerant, commented: “Accelerant’s entry ... Read the full article

Insurance innovation hub Howden Ventures launches with £500m underwriting capacity

16th October 2023

Global insurance group Howden has unveiled an innovative venture known as Howden Ventures, pending approval from Lloyd's, aimed at accelerating insurance product development. Described by the broker as a world-first insurance innovation hub, the initiative launches with £500 million in delegated underwriting capacity and seeks to become an investment and risk ... Read the full article

Insurtech Reserv raises $20m Series A round to accelerate growth

5th October 2023

Reserv, a leader in AI-driven insurance claims processing, has announced the close of its $20M Series A round of financing to expand its generative AI claims data analysis tools. This latest funding round was co-led by Altai Ventures and Bain Capital Ventures (BCV) with participation from AXIS Capital, Arch Capital Group, ... Read the full article

Origami Risk makes senior-level appointments within Core Solutions unit

3rd October 2023

Risk, safety, and insurance Software as a Service (SaaS) technology firm, Origami Risk, has named Chris Bennett as Chief Strategy Officer, and Mike Kaplan as Division President within its Core Solutions arm. With these appointments, the division is positioned to sustain its accelerated growth in serving insurers, managing general agents, program ... Read the full article

APAC reinsurers pivot to non-property lines in search of earnings diversification: AM Best

19th September 2023

AM Best’s report on a select group of Asia-Pacific reinsurers, reveals that some players have pivoted towards non-property lines of business as appetite for catastrophe-exposed property risk has diminished on the back elevated catastrophe activity in the region. Various reinsurers in the region cut their participation in both domestic and overseas ... Read the full article

Dubai DIFC continues to attract new re/insurers, on track for 20% annual growth

18th September 2023

The Dubai International Financial Centre (DIFC) has granted several licenses to insurance and reinsurance firms in recent months, with the sector on track for 20% year-on-year growth. In the first half of the year, gross written premiums rose 18% on H1 2022 and 34% on H1 2021 to USD 1.2 billion, ... Read the full article

Origami Risk expands P&C insurance solutions with Dais acquisition

15th September 2023

Origami Risk, a risk, safety, and insurance Software as a Service (SaaS) technology firm, has acquired Dais Technology, a provider of no-code insurance technology. Terms of the transaction were not disclosed. This move will increase Dais’ market reach and client support capabilities and expands Origami’s innovative suite of property and casualty ... Read the full article

Cowbell and Zywave partner to expand cyber insurance access for SMEs

14th September 2023

Cowbell, a prominent provider of cyber insurance tailored for small- and medium-sized enterprises (SMEs), has announced a strategic partnership with Zywave, a leading insurtech solutions provider. This groundbreaking collaboration is facilitated by Herald, a digital infrastructure provider connecting software developers to commercial insurance carriers through a unified API. It leverages Cowbell's cutting-edge ... Read the full article

Chedid Capital acquires UK-based Trilogy MGA

12th September 2023

Chedid Europe Insurance & Reinsurance Brokerage Limited, a subsidiary of Chedid Capital, has acquired 100% of the share capital of UK-based Trilogy Managing General Agents Limited (Trilogy MGA) from Resolution Underwriting Holdings Limited. According to Chedid, this acquisition is in line with its strategy to grow its business in the United ... Read the full article

Latin American reinsurers capitalise on global players’ caution: AM Best

12th September 2023

A new report by AM Best, titled "Fewer Major Cat Events Limit Claims Activity for Latin America Reinsurers," reveals that the global reinsurance landscape is experiencing a shift, with limited interest from global reinsurers in Latin American markets. This shift has created opportunities for domestic and regional reinsurers in the region. ... Read the full article

Asset-light structures play a critical role in insurance: Howden Tiger, Conning

10th September 2023

Reinsurance broker Howden Tiger, in collaboration with insurance research group Conning, has released a new report examining the growing importance and influence of asset-light structures to the re/insurance industry during times of heightened underwriting and investment volatility. The comprehensive report, Travelling Light, explores the rise and impact of asset-light insurance structures, ... Read the full article

CLARA and ClaimDeck partner to enhance insurance claims litigation management

29th August 2023

CLARA Analytics (CLARA) and ClaimDeck, prominent players in the realm of artificial intelligence-driven solutions for insurance claims optimisation, have announced a strategic partnership aimed at revolutionising the management of litigation rates within the commercial insurance sector. The collaboration seeks to empower insurance carriers with the tools necessary to effectively navigate and ... Read the full article

The firms that are producing the best results are the ones that possess better data: HSCM’s Jones

21st August 2023

During a recent interview with Reinsurance News, Adrian Jones, Partner, HSCM Ventures, explained how one of the biggest issues that he hears across the industry is the quality of data reaching reinsurers and retrocessionaires. Data and technology are two fundamentals of re/insurance. The most successful brokers and insurers are the ones ... Read the full article

SiriusPoint partners with property casualty MGA Eaton Gate

7th August 2023

Global specialty re/insurer, SiriusPoint has announced its partnership with Eaton Gate, a London-based Managing General Underwriter (MGU), which will be primarily focused on UK property casualty insurance business. Eaton Gate writes in excess of £100 million through its group of managing general agents (MGA’s) and is one of the largest MGU/MGAs ... Read the full article

AM Best assigns credit ratings to UK hybrid fronting carrier Bridgehaven Insurance