PV insurance market can expect further ‘significant claims’ as Middle East conflict persists: Selwyn, Antares
The political violence (PV) insurance market in the Middle East is under increasing pressure, with escalating military action threatening to disrupt commercial operations and lead to further “significant claims” from Gulf states, as PV business insured until the end of February remains at risk, Antares’ Wesley Selwyn has warned. In a recent commentary, Selwyn, political…
Larrondo joins MDS Group’s Marine Insurance business as Global Director
MDS Group, part of The Ardonagh Group, has announced the appointment of Adrián Larrondo as global director of its marine business, based in Madrid. Lalondo will draw on his more than three decades of international experience in the maritime and insurance sectors to lead the business line’s international development. He will be responsible for driving…
CCRIF lifts coverage 9% to $1.57bn for current policy year as membership expands
Ahead of the annual hurricane season, CCRIF SPC (formerly Caribbean Catastrophe Risk Insurance Facility) said it has expanded coverage for the current policy year to $1.57 billion from $1.44 billion a year ago, thanks to a 70% increase in coverage for its Caribbean portfolio and 80% for its Central America portfolio. CCRIF CEO Isaac Anthony…
Alex Brogden joins Bermuda-based InEvo Re as CUO
Alex Brogden has joined InEvo Re, a Bermuda-based specialist life reinsurer backed by Macquarie Asset Management, as chief underwriting officer. Brogden brings extensive market experience, most recently serving four years as group chief underwriting officer at Monument Re Group. He originally joined the company in 2017 as group chief financial officer. Prior to that, the…
3IF Ventures secures $12m first close for Africa-focused inclusive insurance fund
3IF Ventures, a venture capital firm focused on investing in insurance technology businesses in Africa, announced the first close of US$12 million for its inclusive insurance investment fund. The fund focuses specifically on Africa’s insurance start-up market and is backed by FSD Africa Investments (FSDAi) and ZEP-RE (PTA Reinsurance Company) as lead investors. According to…
Milliman expands life insurance asset-liability management services with new SAA solution
Milliman, Inc., a consulting and actuarial firm, has expanded its global life insurance asset liability management (ALM) services with the introduction of advanced strategic asset allocation (SAA) solutions. This new development leverages Milliman’s proven actuarial and ALM capabilities, including its Integrate™ and Milliman Mind® platforms, to better help insurers and their investment partners align investment…
Fortegra appoints Mark Rattner as President
Fortegra Group, a global specialty insurance company affiliated with DB Insurance Co., Ltd., announced the appointment of Mark Rattner as President. Rattner brings more than thirty years of industry experience, including ten years in leadership roles at Fortegra and long-standing relationships with key distribution partners. He joined Fortegra in September 2016 and most recently served…
RSUM promotes Mike Benvenuto to Chief Operating Officer
Ryan Specialty Underwriting Managers (RSUM), the underwriting management arm of Ryan Specialty, announced the promotion of Mike Benvenuto to chief operating officer. Based in Chicago, Benvenuto has more than 20 years of experience in the insurance industry. Most recently, he served as Chief Procurement Officer for Ryan Specialty, driving performance in strategic sourcing, procurement, category…
Zurich expands its data centre insurance to five new countries
Major major carrier Zurich Insurance Group has expanded the availability of Data Center Project Guard, a comprehensive insurance and risk management solution for large-scale construction projects, to meet the growing needs of customers around the world for coordinated protection. The solution’s successful debut in the United States saw Zurich underwrite more than 245 data center…
Honeycomb raises $40m in new funding round led by Zeev Ventures
Honeycomb Insurance, a digital insurance company specializing in apartment buildings and condo associations, has raised an additional $40 million in a new round of funding led by Zeev Ventures. The round also saw participation from existing investor Ibex Investors, as well as new backers Peakline, Alpha Partners, Meitar Partners, Practical VC and former San Francisco…
