Latest news
Zywave: How AI is changing the insurance industry’s reputation
Artificial Intelligence has the potential to benefit both insurance professionals and consumers, says Doug Marquis, chief technology officer at Zywave.
Coalition: Addressing the information breakdown in the cyber reinsurance market
In the evolving age of digital risk, cyber insurance has emerged as a preferred method for businesses to protect themselves, writes Shawn Ram, head of insurance at Coalition.
BMS Specialty rehires Phillips as African practice leader
The specialty broking arm of BMS makes a return hire, who rejoins from Afro Asian Insurance Services, where he was group CEO.
Saudi Re highlights impact of local market reinsurance premium cession
The Saudi regulator’s regime for local market reinsurance premium cession takes effect from 1 January 2025, affecting at least 30% of all reinsurance treaties and facultative risks, Saudi Re noted in remarks published on the country’s stock exchange website.
Montreal Port strike to cost $55m a day, says Russell
The Montreal Port strike is expected to cost the Canadian economy an estimated $55m per day, according to analysis by data and analytics firm Russell Group.
Eight tips to avoid a data migration migraine – Xceedance
In an era where data is pivotal, effective data migration is critical for insurance companies aiming to stay competitive. Jarno Seegers, vice president, business development at Xceedance, looks at the intricacies of data migration and offers eight top tips to deliver migration projects.
Howden builds Hong Kong presence with Storfield acquisition
Re/insurance broking group buys an Asia Pacific specialist in small-to-medium sized enterprises and high-net-worth clients.
Envelop Underwriting launches with Dom Peters as CEO
New entity to encompass all existing underwriting activities, including Envelop Risk Bermuda and Envelop at Lloyd’s, including its special purpose arrangement, Envelop Risk SPA 1925.
Oasis publishes exposure management C-suite guidance
“Navigating the Storm - The C-Suite Guide to Mastering Exposure Management”, from the the open source cat modelling platform, aims to provide best practices for resilience, compliance, and profitability in an unpredictable global environment.
Hannover Re CEO Henchoz to step down in 2025; CFO Jungsthöfel to take top job
Clemens Jungsthöfel will take over the group chief executive role at Hannover Re from 1 April 2025.
‘Rosy picture’ belies the challenges carriers face, Convex’s Brand warns
Speaking at an AM Best event in London, Convex’s CEO gave a (re)insurance carrier’s perspective to challenges, from claims activity, operating expenses and market cyclicality, to the balance of power between brokers and carriers.
Swiss Re strengthens US liability reserves by $2.4bn
The reinsurer made its “ad hoc announcement”, saying it would miss its combined ratio target for the year as a result, with third quarter net income of $0.1bn.
Pool Re appoints Stark as head of underwriting
Andrew Stark starts a newly created role at the UK’s terrorism reinsurance public-private partnership.
‘Polycrisis’ presents insurers with ‘impactful’ opportunity – Axa UK & Ireland CEO
Plus, Aviva’s UKGI boss emphasises that insurers must ‘put our money where our mouths are’ when it comes to engaging on ‘collective goals’.
Two-thirds of insurers plan to implement AI predictive models within two years – Earnix
The technology firm surveyed more than 400 global insurance executives to uncover technology and artificial intelligence (AI) trends, revealing that replacing legacy systems remains a significant challenge.
‘Inflection point’ reached in US casualty reserving – Lockton Re
Reinsurance broker’s paper highlights potential end to material adverse development in casualty lines for calendar year 2025.
Aon Underwriting Managers hires new CUO
Simon Clapham, formerly of Brit and Liberty Specialty Markets, joins Aon’s MGA operation as its chief underwriter.
Extinction Rebellion targets multiple London market insurance firms
The climate change protest group has carried out a campaign of protests targeting insurance companies across London.
Reinsurer ROEs rise on underwriting, investment results – AM Best
AM Best’s DuPont analysis indicated reserve leverage for the composite dropped, led by non-life reinsurers, other than the ‘big four’, whose reserve leverage was relatively stable.
RiverStone and QBE announce loss portfolio transfer deal
Run-off re/insurer takes on reserves of $1.2bn for Lloyd’s syndicate legacy business from QBE.
Saudi Vision 2030 & GHE 2024: where the tech revolution and health re/insurance meet
Editor of GR, David Benyon, reflects on health technology trends for re/insuring the sector, from a recent trip to Saudi Arabia, attending GHE 2024.
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