Latest Smartphones, Gadgets and Startups News
Insurance
AXA XL, the property and casualty specialty risk division of AXA, has announced the appointment of Matt Waters as Head of its Large Commercial and Specialty business unit, effective immediately. In his new role, Waters will be responsible for leading AXA XL’s Large Commercial and Specialty lines portfolio across the US, Canada, and Bermuda. He…
The global data centre insurance market is forecast to more than double to over USD $24 billion by 2030, as the rapid expansion of artificial intelligence infrastructure increases the value, complexity and concentration of risks faced by insurers, according to Allianz Commercial, the commercial insurance business of Allianz Group. Allianz Commercial estimates that the market…
Florida-based property and casualty insurer Mangrove Property Insurance Company has announced the establishment of Grove Re Ltd., a Bermuda-domiciled Class 3A insurance company to support its long-term risk management and underwriting strategy. The formation of Grove Re reflects Mangrove’s disciplined, data-driven approach to underwriting, its strategic vision to operate for the long-term across market cycles….
Sven Althoff, Member of the Executive Board for Property & Casualty at large reinsurer Hannover Re, said today that the company is comfortable growing in this P&C market environment, while the firm expects property catastrophe price reductions to decelerate heading into the January 1st, 2027, renewals. This morning, Althoff, alongside other executives at global reinsurer…
Atrium, a specialty insurer at Lloyd’s, has announced the appointment of Alice Gilbert as Underwriter, effective in the first quarter of 2027. In her new role, Gilbert will work with Matthew Greaves, Head of Diversified Risk Underwriting, to build Atrium’s growing Diversified Risk book, with a focus on sustainable growth. Diversified Risk is written as…
Tokio Marine’s international business has posted 16.6% growth in net premiums written to 934.7bn yen ($5.9bn) in the first quarter of fiscal 2026, with underwriting performance remaining broadly ahead of plan despite pockets of deterioration, including losses tied to the Middle East conflict. According to Tokio Marine, the increase leaves it broadly on track against…
AM Best, the credit rating agency, says reinsurers continued to achieve returns above their cost of capital in 2025, extending a trend seen over the previous two years. The company attributed the performance to stronger underwriting results, following earlier changes to pricing and reductions in the level of risk held within reinsurance portfolios. AM Best…
David Soutter, who joined RiverStone International last year as Head of Risk in Bermuda, has been promoted to Group Chief Risk Officer (CRO) at the global acquirer and reinsurer of legacy and discontinued business. Soutter has more than 25 years of insurance and reinsurance market experience, with expertise across enterprise risk management, finance, capital oversight,…
Suncorp Group has reported a net profit after tax of AU$1.027 billion and cash earnings of AU$1.042 billion for the year ended 30 June 2026. The group declared a fully franked final ordinary dividend of 52 cents per share, with CEO Steve Johnston noting that the result was achieved despite natural hazard expenses exceeding the…
CatIQ, the independent Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has disclosed its sixth and final industry loss estimate for flooding caused by the remnants of Hurricane Debby in Ontario and Quebec between 9 and 10 August 2024, putting losses at CAD 2.8 billion. The final loss figure provides a…