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While artificial intelligence (AI) is delivering tangible gains for property and casualty (P&C) insurers, retail P&C distribution is the area most vulnerable to near-term disruption due to its high transaction volumes, routine processes and the commoditised nature of its services, according to Moody’s Ratings. In a recent report, Moody’s outlined that AI holds the promise…
Jensten Group, a provider of insurance services in the UK, has entered into an agreement to acquire Coversure Midlands, further strengthening its regional footprint and UK broking capabilities. Coversure Midlands is an independent insurance broker and the largest franchise within Jensten Group’s Coversure network. It operates with around 30 colleagues and has strong expertise across…
Independent specialist re/insurance broker Miller has appointed Harry Vickers as a Senior Director, Property for Miller Bermuda. In the new role, Vickers will lead Miller’s Bermuda Direct and Fac offering, reportedly working closely with teams in London to broaden the solutions available to property clients internationally. Miller noted that the appointment marks a significant step…
Aon, a global professional services company, has appointed Nadin Virani as Interim Chief Financial Officer (CFO), effective immediately, as Edmund Reese, Executive Vice President and CFO, has decided to pursue opportunities outside the firm. Reese will serve as senior advisor to Greg Case, President and Chief Executive Officer (CEO), Aon, through 16 August, 2027, to…
Global reinsurance broker Guy Carpenter, a Marsh business, has appointed David Duffy as Global Property Leader and Chris Ross as Global Casualty Leader, effective immediately. Based in New York, in their newly created roles they will report to John Trace, Chief Executive Officer of North America and Chief Broking Officer, Guy Carpenter. The pair will…
Lockton, a privately held insurance brokerage and risk management firm, has appointed Louis Grundy as Vice President (VP) of Strategic Sales in Denmark. The appointment aims to strengthen the broker’s commercial growth capabilities in the country, and reflects its continued investment in experienced, growth-focused talent. In his new role, Grundy’s remit includes leading the broker’s…
The Inter-American Development Bank (IDB) has issued a parametric insurance coverage for hurricane risk in Belize of up to USD 20 million, subject to a maximum payout of USD 10 million per policy year, backed by Swiss Re, one of the world’s leading reinsurance companies. The transaction saw the IDB arrange the transfer of a…
The Cayman Islands has submitted an application to the US National Association of Insurance Commissioners (NAIC) for Qualified Jurisdiction Status (QJS), marking a long anticipated milestone. The NAIC, a standard-setting body governed by chief insurance regulators from all 50 US states, the District of Columbia, and US territories, coordinates state-level regulation to protect consumers and…
Aon, a global professional services company that provides advice and solutions across risk, capital and human capital, has appointed Brad Lorimer as CEO of its Canadian business, taking up the position on 1 September 2026. Lorimer will be responsible for Aon’s operations across the country, with a focus on helping clients respond to business challenges…
Aon, a global insurance and reinsurance broker and risk advisor, has launched Sidecar X, marking the latest evolution in its Sidecar platform designed to link insurance capital with complex transactional risks. Providing up to $200 million in capacity, the Global Sidecar Platform covers tax insurance as well as representations and warranties products. The platform also…