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African Risk Capacity (ARC) paid $5.5 million in drought insurance payouts in Somalia based on confirmed parametric indices. This amount was paid to the Government of Somalia (SODMA) (62.7% of the total), Start Network (21.5%) and WFP (15.8%). As of May 2026, the three organizations have reportedly supported more than 153,000 people combined through parametric…
An assessment written by Jennifer Chang, senior vice president of sustainable finance credit at Moody’s Ratings, and Firas Saleh, director of North American flood modeling, assessed residential flood risk across the United States and found a large gap between insured and uninsured losses at the county level under different flood scenarios. Moody’s ratings indicate that…
Specialist insurance and reinsurance broker Price Forbes has announced the appointment of Andrew Thompson as director of Price Forbes’ accident, health and emergency team. Thompson brings more than thirty years of London market experience to the role. His deep expertise in emergency response spans some of the world’s most high-profile events, from global concert tours…
BP Marsh & Partners announced that net asset value (NAV) for the year ended 31 January 2026 increased by £33.8 million to £360.2 million, an increase of 10.3% on the previous year. The company’s stock portfolio, adjusted for investments and realizations, grew 21.4% during the same period. However, consolidated pre-tax profits fell to £49m, down…
Liberty Specialty Markets, the commercial and specialty insurance arm of Liberty Mutual Insurance Group, has announced the appointment of Monique Kooijman as general manager for the Netherlands, Belgium and Nordics, subject to regulatory approval. Koaijman will be based in the Netherlands and report to Pierre-Edouard Fraigneau, President of Liberty Europe. She joins the company from…
Canada Life, a British insurance company that provides life insurance and pension risk transfer services, has completed a £36 million full buy-in of the HSB Engineering Insurance Services Limited pension plan. Canada Life said the deal ensures benefits for 191 pensioners and 128 deferred members, providing greater certainty for future benefit payments. Sponsoring employer HSB…
U.S. insurance company Kemper Corporation announced the appointment of Stephen J. McAnena as president and chief executive officer (CEO) and will join the board of directors, effective June 1, 2026. McAnena will also join the company’s board of directors on the same day. C. Thomas Evans, who served as the company’s interim chief executive officer,…
Pace, the artificial intelligence operations partner of the world’s largest insurance company, has raised $46 million in Series B funding, co-led by Thrive Capital and Sequoia Capital, with participation from Emergence Capital and Pruven Capital. According to the announcement, Pace will use the funds this year to help clients expand their agent workforce to handle…
OAK Global, a global risk partner underwriting through two dedicated syndicates owned by Lloyd’s, has announced the launch of ROOT Intelligence, a new technology company designed to drive innovation. ROOT Intelligence combines professional engineering, compliance, data science and artificial intelligence expertise to build and extend proprietary tools that enhance technology-enabled risk insights. The company will…
Independent insurance broker Lockton has announced the appointment of Andrew Wansey as head of growth and client strategy. Wansey has more than 30 years of experience in insurance and risk consulting, with deep expertise in property, construction and casualty placements, transactional risks and alternative risk transfer solutions including captive and integrated risk plans. The executive…