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A majority of insurance chief risk officers (CROs) expect cybersecurity to be a top concern over the next 12 months, with a significant proportion also ranking third-party and vendor cyber risk among their top five concerns, according to survey results from professional services firm EY. The company reports that many CROs are prioritizing AI-based risk…
Robert Ali, chief operating officer of Active Re, said Barbados is emerging as an excellent opportunity for the development of managing general agents (MGAs), mainly due to its dedicated regulatory framework and efficient business environment. Speaking at the Barbados Risk and Insurance Management Conference (BRIM), Ali noted that the island’s risk-based capital framework, efficient licensing…
Robert Ali, chief operating officer of Active Re, said Barbados is emerging as an excellent opportunity for the development of managing general agents (MGAs), mainly due to its dedicated regulatory framework and efficient business environment. Speaking at the Barbados Risk and Insurance Management Conference (BRIM), Ali noted that the island’s risk-based capital framework, efficient licensing…
Global reinsurance brokerage and risk advisory firm Gallagher Re reports that a series of severe convective storms (SCS) in the central and eastern United States in April 2026 is expected to result in insured losses exceeding $1 billion. The broker attributed the damage primarily to large hail, at least 124 confirmed tornado touchdowns and widespread…
Hartford reported a 36% increase in net income for the first quarter of 2026, driven by lower catastrophe losses, higher investment income and continued premium growth in its property and casualty business. Net profit attributable to common shareholders in the first quarter of 2026 reached US$851 million, up from US$625 million in the same period…
Agam Capital, a global provider of insurance-related asset and liability analysis, has formed a long-term strategic partnership with 1823 Partners (US) LLC, an asset management firm focused on insurance-led investment strategies to support global insurance companies. Agam Capital and 1823 Partners said the collaboration aims to provide permanent capital to insurers through reinsurance structures, particularly…
The Lloyd’s Market Association (LMA), the body representing the interests of managing agents and Lloyd’s brokers, has partnered with professional services consultancy Barnett Waddingham, part of Howden, to launch an AI adoption toolkit to support managing agents (MGAs) in developing and strengthening an artificial intelligence (AI) governance framework across the Lloyd’s market. As AI use…
Moody’s upgraded Peak Re Insurance Financial Strength Rating (IFSR) to A3 from Baa1, an improvement the Hong Kong-based reinsurer attributed to strong fundamentals underpinned by continued solid operating performance, disciplined underwriting and prudent risk management. The rating agency also upgraded the secured subordinated debt rating on permanently subordinated guaranteed capital securities issued by Peak Re’s…
Universal Insurance Holdings reported net income to common shareholders in the first quarter of 2026 of $54.3 million, a year-over-year increase of 31%, driven by a lower net loss rate and higher net investment income. Universal’s underwriting performance also improved significantly in the first quarter of this year, with the net loss rate falling to…
UK-based pensions and financial services consultancy Hymans Robertson has launched a new service designed to help defined benefit (DB) pension scheme trustees and sponsors better understand and manage their scheme data and member benefits. According to Hymans Robertson, the service, called Precision, has been developed to enable trustees and sponsors to assess whether their data…