March 25, 2022
Via: Reinsurance NewsGreenlight Re Innovations (GRI), part of Greenlight Capital Re, has announced an investment in AuditCover Australia Pty Limited, a tax audit insurtech. AuditCover is structured as a tech-centric, end-to-end digital audit insurance platform that connects directly to accountants’ core systems. […]
March 8, 2022
Via: Insurance BusinessPrivate equity firms, corporations and strategic investors increasingly sought out transactional risk insurance last year to reduce deal risk, according to a new report by Marsh. The report, Transactional risk insurance 2021: Year in review, found that the transactional risk […]
January 20, 2022
Via: Reinsurance NewsThe Travelers Companies has today reported its net income of $1.3 billion for the fourth quarter of 2021, which was driven by higher net investment income and a higher underlying underwriting gain. At $1.333 billion, the insurer’s net income hit […]
December 21, 2021
Via: Reinsurance NewsNephila Capital, the world’s largest insurance-linked securities (ILS) investment manager, has announced plans for its Lloyd’s specialty syndicate 2358, as the firm looks to provide investors with greater access to the wider specialty insurance market. Set to commence trading in […]
September 20, 2021
Via: Insurance JournalFoxquilt, a Toronto-based insurtech, announced it has raised an $8 million financing round led by Luge Capital with participation from AmTrust Financial, Extreme Venture Partners and Side Door Ventures. The new capital will be used to support talent acquisition, product […]
September 7, 2021
Via: Reinsurance NewsAnalysts at Fitch Ratings are forecasting significant improvements in reinsurers’ financial performances next year due to higher prices in a hardening market, a strong rebound in economic activity and lower pandemic-related losses. The rating agency says these positive factors should […]
August 4, 2021
Via: Reinsurance NewsFlorida headquartered insurer Universal is said to be hyper-focused on driving more primary rate into its portfolio, according to Chief Executive Officer Steve Donaghy. Speaking at a recent earnings call, Donaghy described how the two pillars of price and exposure […]
July 28, 2021
Via: Reinsurance NewsRyan Specialty Group Holdings has announced that underwriters have purchased an additional 8,537,742 shares of its Class A common stock at the initial public offering (IPO) price of $23.50 per share. Ryan Specialty logoThe group previously announced an IPO of […]
July 27, 2021
Via: Reinsurance NewsGlobal commercial insurance prices increased 15% in the second quarter of 2021, according to the latest market index report by Marsh. marsh-logoIt’s reported that this year marks the 15th consecutive quarter of rate increases in the global commercial insurance market. […]
Geo-Political, Risk Management
July 27, 2021
Via: Reinsurance NewsCatastrophe risk modelling firm AIR Worldwide has updated its earthquake and typhoon models for Japan to help provide re/insurance companies with a more comprehensive view of risk in the region. air-worldwide-logoAIR’s earthquake model captures the country’s seismicity by generating events […]
July 20, 2021
Via: Reinsurance NewsThe Travelers Companies, Inc. has reported a significantly improved net income of $934 million for the second-quarter of 2021 on the back of lower catastrophe losses, favourable reserve development, and a vastly improved investment result. Net income of $934 million […]
May 28, 2021
Via: Reinsurance NewsMore than half of US mortgage reinsurance is backed by the Bermuda reinsurance market, according to new analysis by the Association of Bermuda Insurers & Reinsurers (ABIR). mortgageReinsurance companies on the island provided increased capacity to US monoline private mortgage […]
Geo-Political, Risk Management
May 6, 2021
Via: Artemis BMPalomar Insurance Holdings, the speciality California-headquartered insurer that provides largely catastrophe exposed property products, sought to add to its reinsurance arrangements in Q1 2021 with a new $25 million aggregate layer of cover. The company had also secured its $400 […]
April 5, 2021
Via: Insurance BusinessVarney Insurance Agency has announced the formation of Varney Re, a Bermuda-based reinsurance company. Varney Re is a specialist alternative risk transfer reinsurance company that will serve a North American client base. Tod Austin (pictured above) has been appointed chief […]
March 23, 2021
Via: Reinsurance NewsA number of the world’s biggest players in re/insurance have committed additional funds to support the development of open source catastrophe modelling platform Oasis. Companies include Aon, Allianz, AXA, Chubb, Guy Carpenter, Hannover Re, Lloyd’s, RenaissanceRe, Swiss Re, SCOR, Willis […]
March 12, 2021
Via: Business InsuranceAn insurer that paid defense costs for a policyholder involved in a liability dispute can recoup those costs if it is later determined that it did not owe a duty to defend the case, a divided Nevada Supreme Court ruled […]
March 5, 2021
Via: Insurance JournalSpecialist Risk Group (SRG), a London-based insurance broker, has agreed to acquire CLS Risk Solutions (CLS RS), subject to regulatory approval. Financial details of the acquisition — its fourth so far this year — were not disclosed. Established in 2010, […]
March 3, 2021
Via: Artemis BMInsurance and reinsurance broker Aon, working with cryptocurrency and smart contract focused insurtech start-up Nayms and Bermuda specialist insurer Relm, aims to open up the capital markets to digital asset risk, to source risk capacity for the burgeoning crypto space. […]
February 24, 2021
Via: Insurance BusinessRESILIENT. It’s a term often used to describe the insurance distribution market, and one that continues to attract the hungry eyes of the investment community. Despite the COVID-19 pandemic and resulting socio-economic challenges – a global recession and strained labor […]
Financial, InsurTech, Risk Management
January 19, 2021
Via: Business InsuranceFunding for technology companies focused on the insurance industry will likely be robust this year and into 2022 as so-called insurtech companies mature, according to a recent report and other industry sources. Although insurtech investments slowed after the outbreak of […]