Reinsurance News
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Insurance news of relevance to the reinsurance market.
Our focus is on insurance and reinsurance news for large account, commercial and specialty lines, as well as pure reinsurance and retrocession news, analysis, insight and interviews.
Global customers look to insurers for innovative solutions amid escalating risks: Geneva Association
21st November 2023
In the face of escalating global risks, a new survey by The Geneva Association reveals that customers worldwide are increasingly turning to insurers for solutions that go beyond traditional coverage. The report, titled "The Value of Insurance in a Changing Risk Landscape," sheds light on the concerns of customers in the ... Read the full article
UK Gov integrates insurance risk transfer into aid and development financing for global resilience
21st November 2023
The UK government has unveiled its white paper on international development, outlining a strategic shift towards incorporating risk transfer, insurance, and innovative financial instruments, including catastrophe bonds, into its aid and development financing approach. The focus is on enhancing disaster resilience in low- and middle-income countries through proactive measures rather than ... Read the full article
Insurers navigate pricing pressures, capacity constraints, and underwriting shifts: Aon
21st November 2023
In the third quarter of 2023, the global insurance market witnessed a dynamic landscape, as outlined in the latest insights provided by Aon. Several key factors shaped the market during this period, influencing pricing, capacity, underwriting practices, limits, deductibles, and coverages across various insurance products. Adverse claims trends exerted upward pressure on ... Read the full article
Shutdown of old PPL platform to go ahead on December 15
20th November 2023
Placing Platform Limited has confirmed that, as planned, the next phase of the shutdown of the old PPL platform will go ahead in one month’s time, on December 15. From December 16, Next Gen, the new version of the London insurance market’s electronic trading platform, will become the only PPL platform ... Read the full article
European insurers face increased weather-related losses amid reinsurance cutbacks: Fitch
17th November 2023
Fitch Ratings highlights the growing vulnerability of European insurers to weather-related losses, primarily attributed to reinsurers reducing coverage against medium-sized natural catastrophe risks. The trend, which commenced in 2022, is exemplified by results from the Italian non-life market, demonstrating a notable impact on profitability following reinsurance cutbacks. Global reinsurers have responded to ... Read the full article
NAMIC urges lawmakers to focus on growing risks to ease rising insurance costs
2nd November 2023
While Congress continues to examine increasing challenges within the property insurance marketplace, the National Association of Mutual Insurance Companies (NAMIC), has warned lawmakers to look beyond obvious weather events and focus on the root problems that are said to be driving insurance cost increases across certain areas. "Insurance is a mechanism ... Read the full article
Cacciatori urges integrated approach to strengthen UK’s insurance resilience post-Babet
1st November 2023
In the aftermath of Storm Babet and the looming threat of further weather-related disasters, Dr. Eugenia Cacciatori, Senior Lecturer in Management at Bayes Business School (formerly Cass), is calling for a comprehensive integration of insurance into the UK's resilience landscape. The recent early autumn storms, including the menacing Storm Ciarán, have ... Read the full article
Trust in insurers is growing in a world in polycrisis: AXA
1st November 2023
Risks associated with artificial intelligence (AI), cybersecurity and global warming are among the main concerns for the general population; however, trust in various players, like insurers and scientists, to limit the consequences of new global crises is growing, according to a recent AXA report. The tenth edition of its Future Risks ... Read the full article
AgentSync raises $50mn in latest funding round
30th October 2023
AgentSync, a company building modern insurance infrastructure that connects carriers, agencies, MGAs, and producers, has raised an additional $50 million in funding to drive operational efficiencies for insurers and distributors. The latest round, co-led by existing investors Craft Ventures and Valor Ventures, brings AgentSync’s total funding to date to $161 million. Since ... Read the full article
Ping An uses insurance as catalyst for conservation, ESG investment
23rd October 2023
Ping An Insurance (Group) Company of China, Ltd. has noted it continues to make strides in the realm of environmental conservation and ESG (Environmental, Social, and Governance) investment by utilising insurance as a catalyst for change. In a groundbreaking move, the company established the Ping An Biodiversity and Environmental Conservation Charitable ... Read the full article
Insurers and banks need to work together for continued success of bancassurance in SE Asia: Swiss Re
20th October 2023
It is essential for insurers to help banks understand the evolving insurance landscape of Southeast Asia for the continued success of bancassurance, a recent survey by the Swiss Re Institute has revealed. Among its highlights, the survey found that bancassurance accounts for an average of 36% of Life and Health (L&H) ... Read the full article
Aon’s Franchise Solutions program launches in North America
20th October 2023
Global re/insurance broker Aon has announced the launch of its multi-industry Franchise Solutions program in North America, designed to better inform, advise and protect businesses. The new offering, powered by CoverWallet technology, aims to help franchise businesses understand and manage risk across their franchisee network, while also delivering customised insurance programs ... Read the full article
The Rockefeller Foundation partners with NEF & Himalayan Everest Insurance
19th October 2023
In a groundbreaking initiative aimed at addressing the escalating climate challenges faced by vulnerable communities in Asia, The Rockefeller Foundation has announced a pioneering collaboration with the Nepal Economic Forum (NEF) and their industry partner, Himalayan Everest Insurance. The primary objective of this partnership is to provide essential financial tools that ... Read the full article
Wikifri launches new cloud-based insurance data platform
17th October 2023
Wikifri, a consulting firm that focuses on innovation in insurance, has launched its cloud-based turnkey insurance data platform, Insurance Daylight (IDDS), offering an efficient way to stabilise data. Data has become a critical asset for insurers, but they are still grappling with disparate systems and fragmented data stores, hampering their ability ... Read the full article
InsurAngels Suisse adds Freuler-Büchel and Michaud to Board of Directors
13th October 2023
InsurAngels Suisse, an angel investor network devoted to insurance opportunities, has expanded its Board of Directors with the addition of Massimo Michaud and the appointment of Ursula Freuler-Büchel as Director of the association. The non-profit association, founded August 2023, aims to promote the creation, development, financing and transfer of companies whose ... Read the full article
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