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Asian Re achieves 76% increase in net profit in 2023 fiscal year
18th June 2024
Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, has reported a substantial 76% rise in net profit to USD 3.21 million for the fiscal year 2023, marking a significant milestone in its financial performance. Underwriting and operating performance metrics are expected to improve in the intermediate term as Asian Re ... Read the full article
Intensified regulatory scrutiny on EU life insurers potentially hitting profits: Moody’s
17th June 2024
Moody's, a credit rating agency, has released a report emphasising intensified regulatory scrutiny on European Union life insurers to ensure their products deliver "value for money," potentially impacting profitability and operational strategies, particularly for unit-linked and hybrid products. Since 2018, reports from the European Insurance and Occupational Pensions Authority (EIOPA) have ... Read the full article
Trisura Group reveals new senior management team
14th June 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inception, has been appointed Chief Underwriting Officer. Initially leading the Corporate Insurance practice and most recently serving as ... Read the full article
BILTIR report analyses Bermuda’s long-term insurance market status
14th June 2024
The Bermuda International Long Term Insurers and Reinsurers (BILTIR), a trade association with over 70 member (re)insurance companies and service providers, has published a report examining the history and present condition of Bermuda's long-term insurance sector. The report, "Building for the Long Term: Examining the History, Future, and Importance of Bermuda’s ... Read the full article
Invictus Capital Partners launches Insurance Solutions Business
12th June 2024
Invictus Capital Partners, an alternative credit asset manager, recently announced the launch of its new Insurance Solutions Business, which will be led by Senior Managing Director, Carl D. Bell. The launch of the Insurance Solutions Business addresses the growing interest and inquiries from Invictus's insurance company partners and prospects, demonstrating the ... Read the full article
Mel Carvill appointed Chairman of Polo Insurance Managers
6th June 2024
PoloWorks, a collective of Lloyd’s and London Market insurance services businesses, has announced the appointment of Mel Carvill as Chairman of Polo Insurance Managers. Mark Elliott, CEO of Polo Insurance Managers, commented: “We are delighted that Mel has joined PIM as Chairman. He brings a level of seniority and experience which ... Read the full article
Record investment income for US P&C insurers in 2023: AM Best
4th June 2024
In 2023, net investment income for the US property/casualty insurance sector reached a record $73.9 billion, boosted by higher interest rates, according to a new report by AM Best, a credit rating agency for the insurance industry. The Best's Special Report, “US P/C Insurers Achieve Record Investment Income in 2023,” reveals ... Read the full article
Cover Whale secures $27.5m investment from Morgan Stanley Expansion Capital
28th May 2024
Cover Whale Insurance Solutions, Inc., has announced a $27.5 million funding boost in debt and equity from investment funds managed by Morgan Stanley Expansion Capital. This round of funding, which includes existing debt investors converting into Series A preferred shares, will fuel Cover Whale's ongoing expansion efforts and expedite its mission ... Read the full article
Rising rates boost US life/annuity insurers’ returns in 2023: AM Best
22nd May 2024
A new AM Best report indicates that rising interest rates in 2023 increased the portfolio yields of US life/annuity insurers by nearly 30 basis points, from 4.47% to 4.74%. The Best’s Special Report, “US Life/Annuity Investment Portfolio Yields Rebound in 2023,” attributes the improvement in total portfolio yield to the reinvestment ... Read the full article
DeNexus set to launch Bermudian subsidiary this year
7th February 2024
DeNexus, a provider in cyber risk modeling for industrial networks, has announced plans to launch its subsidiary, DNX Intermediaries (Bermuda) Ltd, this year. This announcement came as DeNexus also announced significant investments from energy and insurance companies to meet the escalating global demand amid evolving cyber threats to critical infrastructure and ... Read the full article
The decision is in the data. How accounting is evolving in a Gen AI world
5th February 2024
In uncertain times, trustworthiness comes from accurate, actionable, and timely data. And data-driven insights can power a forward-looking approach to accounting, according to executives at BlackRock®. Especially for insurers, data is key, as it acts as the “raw material for competitive innovation, risk management, and decision-making power,” said Griff Norquist, U.S. ... Read the full article
BlackRock’s Aladdin technology: Touching all aspects of an evolving investment ecosystem
12th September 2023
Unifying the investment management process on BlackRock’s technology platform, Aladdin promotes the creation of a surface for data to flow, enabling integration and data consistency for clients, according to David Schneid, General Manager of Aladdin Accounting. The platform combines sophisticated risk analytics with comprehensive portfolio management, trading, operations, ... Read the full article
One-third of insurers are rethinking their investment strategy and making big changes: Nuveen
15th May 2023
As part of its annual institutional investor study, EQuilibrium, Nuveen, a financial planning company states that strategic and tactical asset allocations are evolving, private markets continue to be in favour, and impact investing with balance sheet assets is here to stay. These have been the three biggest takeaways from the ... Read the full article
Re/insurers leaning heavily into fixed income investments: Goldman Sachs
4th April 2023
Amid increasing global economic volatility, and with a US recession seemingly on the horizon, re/insurers are leaning heavily into fixed income investments and are seeking to increase duration and credit risk, according to analysts at Goldman Sachs. Goldman Sachs Asset Management’s latest global insurance investment survey shows that more than half ... Read the full article
Liquidity risks “remote” for most re/insurers amid banking crisis: Twelve Capital
24th March 2023
Analysts at Twelve Capital, an independent investment manager specialising in insurance investments, have commented on the potential fallout of the crisis currently affecting the banking sector, concluding that “liquidity risk is remote” for most re/insurers. However, they warned that life-savings insurers, in addition to banks, could be more exposed to liquidity ... Read the full article
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