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Catastrophe risk modeller Moody’s RMS Event Response has estimated total US private market insured losses from Hurricane Isaias to range from $2.5 billion to $4.5 billion, with a best estimate of $3.5 billion. Hurricane Isaias marks the ninth named storm and the first hurricane of the 2026 North Atlantic hurricane season. On 10 October 2026,…
Stand, a property insurance company that helps homes withstand natural disasters, has secured $70 million in Series C funding at a $1 billion valuation. Announced on 15 October 2026, the investment takes the company’s total funding to $130 million. Saga Ventures led the round, which also attracted investment from Lowercarbon, Eclipse, Equal Ventures, Inspired Capital,…
Travellers has announced its financial results for the third quarter of 2026, reporting a net income of $1.917 billion, increasing from $1.888 billion in the same period last year, despite a year-on-year rise in catastrophe losses in the period. Core income in the current quarter was $1.947 billion, compared to $1.867 billion in the prior…
Marsh Re’s Leon Janeke expects Baden-Baden to “confirm and further entrench” a buyer-favourable reinsurance market ahead of the 1 January renewals, with reinsurers set to take a greater share of large and catastrophe losses as the market rebalances risk. In an interview ahead of the industry event in Germany, Janeke, head of UK Property &…
Cyber risk can hold flat for years, then jump sharply once attackers find a way to exploit a new technology, an artificial intelligence (AI) appears that is heading down a similar path, cyber insurance specialist Coalition believes. The insurance industry collectively has close to a trillion dollars of cyber insurance limits outstanding. Underwriters face two…
Lloyd’s has granted in-principle approval for the establishment of Credeq Syndicate 1998, marking a significant step in Credeq’s global growth strategy. Headquartered in London, Credeq is a global specialist credit risk insurance provider, with expertise spanning Guarantees & Surety, Trade Credit, Credit Risk Insurance and AI Risk. It operates across the UK, Europe, Africa, Australia…
Nepal and the World Bank (International Bank for Reconstruction and Development, IBRD) have signed a mandate agreement to explore the development of a catastrophe bond for quicker access to funds in case of a major earthquake. The agreement between the two parties marks the beginning of a collaboration to assess how capital markets can support…
Hannover Re, one of Europe’s big four reinsurers, has appointed Wesley Clay as Chief Executive Officer (CEO) of its South Africa operations, subject to regulatory approval. Clay has over two decades of industry experience, having joined Hannover Re in 2002 as a Portfolio Manager, and was a member of the Life Management team for six…
Aon, the professional services firm specialising in risk, retirement and health solutions, has appointed Chris Rafferty as the new Chief Integration Officer for its Integration Management Office (IMO). Rafferty joined the group in 2007 as Chief Operating Officer, a role he held for nearly 15 years. He then became Global Specialty Product Leader at the…
CCRIF SPC, the regional parametric risk pool for the Caribbean and Central America, has announced it is to make a payout of US$17.4 million to the Government of Panama following the magnitude 7.7 earthquake that struck the country on October 9, 2026. In line with CCRIF’s operational mandate to provide rapid liquidity to its members, the…