Reinsurance News
Product Launch
GCube announces official launch in Australia
23rd February 2023
GCube, an underwriter for renewable energy projects and member of the Tokio Marine Group, has officially launched in Australia, offering a range of products to meet the risks faced by local renewables developers. GCube products will now be underwritten on locally authorised paper issued by Tokio Marine & Nichido Fire Insurance ... Read the full article
WTW launch analytics platform ESG Clarified
3rd February 2023
Broking and solutions company WTW has launched ESG Clarified, an analytics platform to help organisations better understand and address their climate, sustainability and wider ESG risks. ESG Clarified offers a comprehensive, analytical solution, underpinned by multiple data sources to assist with trending insight, scenario analysis and reporting. WTW suggests that the rapidly ... Read the full article
Everest Insurance announces official entrance into Spain
31st January 2023
Everest Insurance, the insurance division of Everest Re Group, has announced its expansion into the Spanish market. The Spain branch is headquartered in Madrid, with another office opening in Barcelona. José Ramón Morales will lead the operations as Head of Spain. Everest suggests that its Spanish offices will provide a bespoke range of insurance ... Read the full article
Coalition launches Coalition Insurance Company
31st January 2023
Cyber insurance provider Coalition has announced the launch of Coalition Insurance Company (CIC), a full-stack, Active Cyber Insurance carrier. The launch of CIC is a milestone for the firm, expanding its available capacity in the cyber insurance market and facilitating its transition to a full-stack insurance organisation. Coalition notes that CIC, which ... Read the full article
The Hanover launches specialty general liability solution
25th January 2023
The Hanover Insurance Group has announced the expansion of its casualty offering with the launch of a specialty general liability solution. The firm suggests that with the new offering, its agents and brokers can provide an admitted general liability and excess coverage solution for hard-to-place risks, including manufacturing, distribution, wholesale and ... Read the full article
Munich Re and Unifiedpost partner on financing for German SMEs
25th January 2023
Munich Re has partnered with e-invoicing solutions provider, Unifiedpost Group, to provide invoice financing to the users of Unifiedpost’s SME platform Banqup. The strategic partnership, acting through Ireland-based Talaria One DAC, will co-create a functionality-integrated platform that allows users to get their outstanding invoices paid immediately, unlocking liquidity for SMEs. The first ... Read the full article
Apex Group, Mosaic & Aon launch fund-insurance platform
11th January 2023
Global financial services provider Apex Group has announced the launch of fund-insurance platform, Apex Protect, in partnership with specialty insurer Mosaic Insurance and Aon. Apex Protect offers enhanced directors and officers (D&O) coverage for funds, factoring ESG credentials, provided by Apex ESG Invest Check, into the insurance risk assessment. The initiative ... Read the full article
Kin’s second reciprocal exchange gets Demotech A rating
11th January 2023
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced that financial analysis firm Demotech has assigned an FSR of A, Exceptional, to the Kin Interinsurance Nexus. The Kin Interinsurance Nexus is Kin’s second reciprocal exchange and utilises a direct-to-consumer model and efficient technology ... Read the full article
Zurich & ICS launch Envision Re as sustainability-focused group captive
10th January 2023
Zurich North America has collaborated with Innovative Captive Strategies (ICS) to launch Envision Re, Ltd., a captive insurance company that will bring together businesses that want to optimise their risk management programs while reducing their carbon footprint. Dawn Hiestand, Head of Group Captives at Zurich North America, commented, "Envision Re's sustainability ... Read the full article
Gallagher to launch energy & power risk services in Middle East
10th January 2023
Gallagher has announced that it is launching energy and power risk services for clients in the Middle East, naming Jack Wishart to lead the new practice as Divisional Director & Head of Risk Engineering. Wishart, who is currently Vice President, Risk Engineer, at Marsh in the UAE, will join Gallagher in ... Read the full article
Aldagi to become first reinsurance company in Georgia
14th December 2022
Aldagi, the leading P&C insurance company in Georgia, is set to further expand its business and become the first reinsurance company in the country. Aldagi expects that with this expansion, the firm will emerge as an important regional player, allowing it to better meet the needs of both local and ... Read the full article
Miller launches new D&O product for UK Construction sector
9th December 2022
Specialist re/insurance broker Miller has announced the launch of D&O Construct, a new product for the UK construction sector, designed exclusively with DUAL. According to Miller, the product is designed to support a variety of occupations across the construction sector, including architects, developers, building contractors and surveyors. The firm adds that through ... Read the full article
Milliman launches new asset/liability management software
28th November 2022
Global consulting and actuarial firm Milliman has announced the release of Milliman Agile ALM, a software package that makes asset/liability management (ALM) and stochastic valuation accessible to insurers, helping them comply with Solvency II, IFRS 17, and other requirements. The firm states that, unlike traditional dynamic ALM models, Milliman Agile ALM ... Read the full article
Fanhua agrees to acquire Chinese life MGA Zhongrong, launches new tech offering
25th November 2022
Independent Chinese financial services provider, Fanhua Inc., has announced the execution of a term sheet to acquire majority interests in Zhongrong Smart Finance Information Technology. The proposed transaction will involve the issuance of up to 62 million new ordinary shares of Fanhua, representing 5.44% of its enlarged share capital, in exchange ... Read the full article
Skyward Specialty & Understory launch captive solution for auto dealer market
15th November 2022
Skyward Specialty Insurance Group and Understory Inc. have partnered to launch a new insurance solution to help U.S. automotive dealerships control the rising cost and instability of inventory coverage. The new solution combines Understory's weather technology and expertise in risk mitigation with Skyward Specialty's underwriting, claims and captive experience to pioneer ... Read the full article
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