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Conning, an investment management firm specializing in insurance and institutional investors, has released a new perspective examining how property and casualty (P&C) insurers can adjust their portfolios as underwriting conditions become more competitive and the benefits of rising interest rates begin to wane. In the next differentiator: investment strategies in the evolving property and casualty…
The Insurance Information Institute (Triple-I), a U.S. insurance industry research and education organization, reports that lightning-related homeowners insurance losses will increase significantly across the United States in 2025 due to increased claims volume and rising repair and reconstruction costs. Insurers will pay an estimated $1.65 billion in lightning-related homeowners insurance claims during 2025, up from…
CRC Group, an independent wholesale specialty insurance distributor, announced the launch of a mid-market property program on its Insurrisk platform, providing responsiveness and specialty underwriting solutions for non-catastrophe commercial property risks. The program supports single location and small value accounts with a streamlined underwriting approach and efficient market access. It is supported by papers rated…
Gallagher Re said that severe convective storm (SCS) activity occurred almost daily during the first two weeks of June, affecting several major metropolitan areas from the Rockies to the Northeastern United States, and estimated to cause billions of dollars in total losses to the insurance industry. Dozens of confirmed tornado touchdowns, damaging large hail, damaging…
Lloyd’s has formed a new market alliance, with Chubb as lead underwriter and supported by participating Lloyd’s syndicates and specialist partners, to provide additional maritime war risk insurance capacity for ships and cargo transiting the Strait of Hormuz. According to an official announcement from Lloyd’s, the alliance brings together leading underwriting expertise and additional market…
The Australian Reinsurance Pools Corporation (ARPC), the government agency that manages Australia’s terrorism and cyclone reinsurance arrangements, has appointed Cameron Hick as its new chief underwriting officer (CUO). Hick has assumed the role of incoming CUO and will work closely with current ARPC CUO Michael Pennell (PSM) to ensure an orderly transition. Pennell will begin…
UK-based insurance, wealth and retirement group Aviva has announced plans to rebrand Probitas 1492 as ‘Aviva Syndicates’ as part of the ongoing integration of its Lloyd’s platform into the company’s Global Corporate and Professional (GCS) division. The new branding is expected to be launched by the end of September, with brokers and clients seeing the…
Africa Specialty Risks (ASR), the developing markets-focused reinsurance group, has announced the appointments of Keith Barrett and Yassine Asskour to underwriting roles. Barrett joins the company as marine underwriter and will be based in London, reporting to Aurelien Sauty, head of aviation and marine. He has over 40 years of experience in the African insurance…
Malaysia Reinsurance Corporation (Malaysia Re) and China Re Life Insurance Company Limited (China Re Life) have signed a landmark reinsurance treaty to support a dedicated framework for cancer precision medicine (CPM) treatment coverage in Malaysia. This marks Malaysia’s first reinsurance framework for advanced cancer treatments, including CAR-T cell therapy, targeted therapies and access to overseas…
Re, an on-chain protocol that connects real-world reinsurance capital with decentralized finance, has received a strategic investment from Coinbase Ventures, the venture capital arm of Coinbase, to accelerate its mission of bringing reinsurance capital on-chain and opening up one of the world’s largest and most traditional financial markets to a wider range of investors. Re…