All News articles – Page 49
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News(Re)insurance sector can no longer ‘waste time’ when it comes to tackling systemic risks – PWC
Finding industry-wide ways to deal with systemic risks is ‘not an urgent task’ the (re)insurance sector has so far undertaken – but this needs to change, says PWC partner
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NewsReinsurers risk misunderstanding secondary perils due to cat models
PWC predicts a ‘pretty expensive year’ as secondary perils drive up losses ahead of H2’s Florida hurricane season
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NewsReinsurance sector needs to invest in cloud-enabled analytics
Although PWC partner believes reinsurance is ‘a little bit behind’ the primary market in terms of digital transformation, Acord vice-president thinks the sector is ‘on the edge of insurtech’
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NewsNew cyber syndicate gets green light from Lloyd’s
Trium Cyber, a risk carrier backed by Jim Stanard’s Pelican Ventures, expects to write $50m of gross premiums in 2023
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NewsAXA launches forest restoration program
Research from the program will be shared at a European level, to strengthen biodiversity and climate resilience
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NewsLosses paid to Florida carriers quadruple in just three years
Losses paid by US-domiciled reinsurers topped $1 billion in 2021, prompting market correction - AM Best
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NewsInsurance industry must support roll out of green technology - PWC
The sector has previously shown ‘inexcusable laziness’ by simply being reactive to client problems, but now the industry must lead on green tech cover to support UK’s transition to net zero
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News Gallagher Re names Swiss Re’s Choniski head of Embedded Insurance
He will be responsible for creating an embedded insurance solution for clients in North America
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NewsChedid Re names Elie Abi Rached global CEO
Joe Asmar has been named deputy CEO, whilst retaining his role as group head of facultative reinsurance
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NewsProperty cat retrenchment is improving market ‘stability’
Most large European players remain committed to cat business, but are moving away from lower layers of protection - AM Best
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NewsAsta and Acrisure to launch 'low-touch' Flux syndicate
Flux is expected to generate gross written premium of £106.7 million in 2023, of which 70% is new to Lloyd’s
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NewsAvoid sensationalist renewal headlines - Tom Wakefield
Clients are leaving Monte Carlo feeling more confident about what they can get done, says Gallagher Re UK boss
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NewsUS insurers have minimal investment in ILS and cat bonds - AM Best
Just five companies accounting for 70% of industry investments, despite significant growth of alternative market
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NewsLondon market still catching up on admin backlog caused by pre-pandemic ‘creaking systems’
London market firms are ‘leaning into the need to move to a digital marketplace’, causing a technology ‘revolution’
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NewsGallagher Re names Steve Bowen chief science officer
He joins following 15 years at Aon, where he most recently served as managing director and the head of Catastrophe Insight
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NewsBasi: Ukraine is the ‘Hurricane Andrew’ of the specialty markets
Industry must brace for profound changes ahead as economies shift away from globalisation after three decades
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NewsAriel Re: It’s time to stop selling Ferraris at Ford pricing
Reinsurer’s Joel Willens expects to see a further reduction in appetite for property cat going into the renewal season
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NewsLondon market has ‘real opportunity’ to be ‘an innovator’ for climate change transition risks
Brokers, insurers, regulators and markets all have a role to play in supporting the transition to net zero carbon emissions, says professional services firm partner
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NewsHiscox Re and ILS reports profitable H1 in 2022 despite US and Australia weather events
H2 is off to a positive start as well because it is ‘the first time in 25 years we haven’t had named storms make landfall since August’, says chief underwriting officer
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NewsDon’t miss the transformation boat - Xceedance
Times may be uncertain, but reinsurers must continue to invest in both quick wins and longer term transformation projects
