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Zambia-based international reinsurer Klapton Reinsurance has been upgraded to a positive outlook by credit rating agency Moody’s, while the company has also affirmed Klapton Re’s Insurance Financial Strength Rating (IFSR) of Caa1. Moody’s explains that these changes reflect Klapton Re’s growing premium size and market influence as a smaller reinsurer focused on less mainstream reinsurance…
Willis Re, the reinsurance advisory and brokerage joint venture between Bain Capital (BCIS) and WTW, has announced the appointment of David Kim as a new reinsurance broker to strengthen its maritime and non-maritime reinsurance capabilities. Kim joins the company with 20 years of experience in the marine and non-marine reinsurance markets. He most recently served…
Antares’ Lloyd’s Syndicate 1274 supports a new aggressive cyberwarfare cover targeting U.S. critical infrastructure and essential service providers. These include operators of electricity, water, gas and electricity infrastructure who have a clear and obvious need to be protected from hostile states and state-sponsored actions. The wording, developed in conjunction with Canopius and approved by Lloyd’s,…
Canada Life, a British insurer that provides life insurance and pension risk transfer services, has completed a £48 million acquisition of the oil and gas industry pension scheme. The deal secures future benefits for more than 500 pensioners and deferred members. WTW serves as lead broker and also provides plan actuary, administration through its OneDB…
The Travelers Companies, Inc., a provider of property and casualty insurance for auto, home and business, has developed TravelersLLM, a proprietary large language model tailored specifically for its property and casualty business. Trained on millions of company documents and built by Travelers engineers and data scientists, TravelersLLM builds on the company’s domain expertise by enhancing…
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re, has appointed Yann Krattiger as head of commercial growth initiatives for Alternative Risk Transfer (ART). The company said Krattiger has helped shape its alternative risk transfer offerings over the years, contributing extensive expertise and a collaborative approach to complex risk challenges. Swiss Re Corporate…
AM Best, a global credit rating agency, said that although insurance companies have become increasingly picky about the underwriting capabilities they provide and pay more attention to underwriting performance and long-term profitability, the delegated underwriting enterprise (DUAE) market still maintains strong growth momentum. in its latest Best’s segment market reporting, managing general agents adapting to…
Specialty insurance and reinsurance group Fidelis Partnership (TFP) has announced that one of its Lloyd’s syndicates, Syndicate 3123, has successfully secured $75 million in reinsurance protection from the capital markets through its first catastrophe bond transaction, Woody Re 2026-1. The catastrophe bond notes have a three-year term ending on June 30, 2029, through a segregated…
ICEYE, the company that operates the world’s largest synthetic aperture radar (SAR) satellite constellation, has announced the expansion of its wildfire intelligence capabilities into Canada, a country of high concern. A country hit by wildfires. A recent report from the Canadian Climate Institute highlighted the surge in wildfire activity, noting that three of the worst…
Olivia Bishop has been named chief global catastrophe underwriting officer for Bermuda-based reinsurer Partner Re, a role she will hold in conjunction with her current role as senior vice president and head of North America catastrophes. “As the disaster landscape evolves, I am excited to help drive our underwriting strategy and create value for our…