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Global reinsurance brokerage Gallagher Re, in partnership with MIT and Testudo, has released a new white paper arguing that existing insurance frameworks are unable to cope with the risks posed by artificial intelligence (AI). Gallagher Re said that as companies integrate AI systems into their daily operations, they are creating risk exposures beyond the scope…
Alacrity Solutions, a US-based insurance services company specializing in complex and catastrophe-driven claims, has opened a UK office in London’s Lloyd’s Building to support insurers and policyholders taking on US risks through the London market. Alacrity, which has extensive experience handling high-volume claims across all 50 US states, explained that its launch in the UK…
AM Best maintains its stable outlook on the UK non-life insurance business, noting that despite elevated geopolitical risks, headwinds and tailwinds affecting the operating environment for the business remain broadly balanced. The ratings agency said continued minimal economic growth and rising unemployment through 2026 mean insurers may face lower demand for discretionary insurance products and…
Global reinsurer Ariel Re has announced a number of promotions across its Bermuda and London offices, strengthening its ‘Academy Company’ approach as it continues to position itself as a place where reinsurance professionals can learn, grow and build their careers. Ariel Re said this year’s promotions span a range of positions and departments. Namely, within…
Specialist insurance company Brit Group Holdings Limited has launched ‘BRIDGE’, a new freight alliance offering up to $80 million in shipping capacity. According to Brit, the consortium will become one of the largest in the freight market. The insurer explained that BRIDGE will meet the needs of a range of brokers and clients, providing comprehensive…
Chaucer, the global specialty re/insurance group, and Ceto AI, a technology company specializing in predictive analytics for the maritime industry, have launched a new Maritime Managing General Agency (MGA) to operate as a Lloyd’s underwriter. Under the agreement, Ceto is authorized to bind the ship’s hull on behalf of Chaucer’s Lloyd’s consortium, with additional capabilities…
OAK Global has launched OAK Horizon, a new cross-category strategic business unit designed to capture underwriting opportunities at the intersection of climate and technology risks, supported by the capabilities of its existing Lloyds syndicates. OAK Horizon will reportedly adopt a systems-based underwriting approach that incorporates climate and technology considerations into portfolio construction. The unit is…
Peak Re, the Hong Kong-based global reinsurer, has hired Swiss Re’s Victor Kuk as its new chief executive officer (CEO), replacing co-founder Franz-Josef Hahn, who moved to special adviser after leading the company for more than a decade. Subject to regulatory approval, Cook will serve as CEO of Peak Re from April 20, 2026. He…
Relation Insurance Services, an American insurance brokerage, has acquired the assets of Chinook Insurance Group, LLC, a commercial insurance brokerage specializing in the subsea and aquaculture industries. Headquartered in Seattle, Washington, Chinook Insurance Group has additional expertise in directors and officers liability, employment practices liability, professional liability, cyber, and kidnapping and extortion. Christopher Trainer, CEO…
Pro Global, a specialist advisor to the specialty insurance industry, is accelerating its expansion in Latin America through continued investment in its regional headquarters in Argentina. This growth reflects the increasing adoption of outsourcing and hybrid operating models by international and domestic carriers, brokers and managing general agents (MGAs). Pro Global has been operating in…