Reinsurance News
Insurance news
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.
Duck Creek Technologies partners with Charlee.ai to improve claims management
15th July 2024
Charlee.ai, a provider of AI-based predictive analytic solutions, and Duck Creek Technologies, a provider of SaaS core systems for the insurance industry, have partnered to create a solution to enhance claims management processes. The collaboration will integrate Charlee.ai's advanced AI technology into Duck Creek Claims solution, which is a comprehensive claims ... Read the full article
Tyler Dickson named Global Head of Client Relations at Blackstone Credit & Insurance
12th July 2024
Blackstone Credit & Insurance (BXCI), a division of the global investment firm Blackstone, recently announced the appointment of Tyler Dickson, the former Global Head of Investment Banking and Vice Chair of Banking & International at Citi, as its Global Head of Client Relations. Dickson will manage BXCI’s Institutional Client Solutions team, ... Read the full article
Socotra and Oka form partnership to enhance carbon market insurance solutions
12th July 2024
US carbon-credit insurance carrier Oka, and Socotra, a provider of modern policy administration systems, have formed a strategic partnership aimed at the carbon markets and scaling climate solutions. This partnership combines Oka's team and artificial intelligence (AI) with Socotra's technology to reduce the risks associated with carbon credits. Within 12 months, Oka ... Read the full article
Fintech industry shifts focus to profitability during growth challenges: BCG
12th July 2024
The fintech industry is poised for significant growth despite recent challenges, according to a recent report by Boston Consulting Group (BCG), a management consulting firm, and QED Investors, a venture capital firm specialising in fintech, titled Global Fintech 2024: Prudence, Profits, and Growth. Drawing insights from interviews with over 60 global ... Read the full article
Global M&A activity gains momentum in 2024 amid regional challenges: WTW
11th July 2024
Global mergers and acquisitions (M&A) activity continues to build on the positive momentum seen at the beginning of 2024, with the second quarter's completed deals surpassing those of the same period last year, WTW's Quarterly Deal Performance Monitor (QDPM) reports. In collaboration with the M&A Research Centre at Bayes Business School, ... Read the full article
Aspen Data Labs launches to enhance digital and AI capabilities
11th July 2024
Aspen Insurance Holdings Limited, a provider of insurance and reinsurance solutions, has launched Aspen Data Labs, a new platform designed to advance its digital capabilities and enhance its focus on data and artificial intelligence (AI). Aspen Data Labs will facilitate collaboration among employees and partners on data science and AI projects ... Read the full article
Eastern Alliance implements CLARA AI to enhance workers’ comp claims management
11th July 2024
Eastern Alliance Insurance Group, a fully owned subsidiary of ProAssurance Corporation, has chosen the CLARAty.ai platform from CLARA Analytics, a provider of artificial intelligence (AI) technology for optimising insurance claims, to enhance claims management. This platform will help improve medical outcomes for injured workers, increase the accuracy of reserves, and reduce ... Read the full article
Climate change threatens electric grid resilience, urging insurance-backed adaptation: Swiss Re
10th July 2024
According to Mitali Chatterjee, Insurance Research Manager at Swiss Re, the global reinsurer, climate change is intensifying severe weather events worldwide, significantly impacting the electric grid, emphasising the need of insurance in funding adaptation efforts and enhancing infrastructure resilience. An analysis of US power outages from 2012 to 2023 indicates that ... Read the full article
Rokstone announces launch of new US Sports & Leisure Casualty division
10th July 2024
Rokstone, an international specialty (re)insurance MGA within the Aventum Group, has announced the launch of its new Sports & Leisure Casualty division in the United States. Heading this initiative is Charles Landrum, a professional in the US commercial casualty market with over four decades of expertise in crafting specialised solutions for ... Read the full article
Assured Guaranty to merge US financial guaranty insurers
10th July 2024
Assured Guaranty Municipal Corp. (AGM), an Assured Guaranty Ltd. subsidiary that provides financial guarantees for municipal bonds, will merge with Assured Guaranty Inc. (AG), a company that offers financial guarantees and credit enhancement products, anticipated to take effect on August 1, 2024. The merger of AGM and AG into a single ... Read the full article
NEAM forms strategic partnership with Nassau Financial Group for private placements
10th July 2024
New England Asset Management, Inc. (NEAM), a provider of insurance investment solutions, announced a strategic partnership with Nassau Financial Group (Nassau), a diversified financial services firm. Through this collaboration NEAM will manage Nassau’s existing private placements portfolio, a move that will enhance the company's investment offerings by adding new private placements ... Read the full article
Yixiang Yang named APAC Head of Accident and Health at Tokio Marine Kiln
8th July 2024
Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has appointed Yixiang Yang as the new Head of Accident and Health for the Asia-Pacific region, effective immediately. Yang is an expert in accident and health underwriting with nearly 20 years of experience in the APAC region. He joins TMK from ... Read the full article
SMEs to benefit from Aurora’s newly launched flagship Commercial Combined offering
8th July 2024
Aurora, a digital commercial insurance business, has launched its flagship Commercial Combined solution, supported by AXA Insurance, for small or midsize enterprises (SMEs). The new product will encompass Property, Business Interruption, Employers Liability and Public Liability, and will be available to brokers and insureds online via Aurora’s dynamic, algorithmic and data-driven ... Read the full article
Fannie Mae closes fifth 2024 credit insurance transfer on $8.2bn single-family loans
8th July 2024
Fannie Mae, a government-sponsored enterprise and provider of mortgage financing in the United States, has completed a new Credit Insurance Risk Transfer transaction, known as CIRT 2024-L3. This initiative transferred $337.2 million in mortgage credit risk to private insurers and reinsurers. "We appreciate the support of the 27 insurers and reinsurers that ... Read the full article
Several macro forces can drive corporate progress between now and 2026: Mayer Brown
8th July 2024
Financial leaders brace for change to address multiple threats as they face significant gaps in organisational preparedness for successful business transformation, a recent Mayer Brown study has found. "The Next Organization: Seven Dimensions of Successful Business Transformation (A Financial Services Report), which includes insights from 197 leaders from financial services firms, ... Read the full article
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