Category: Insurance

Fitch Ratings has upgraded Swiss-based reinsurer Echo Reinsurance Limited (Echo Re)’s Insurer Financial Strength (IFS) rating to A+ from A, with a stable outlook. Fitch said the upgrade reflects Echo Re’s strengthening strategic importance within its parent DEVK Group, driven by continued financial performance, growing geographic diversification and “increasing synergies” with its sister company DEVK…

Zambia-based reinsurer Klapton Reinsurance has announced the appointment of Mukuma Musenge as Chief Technology Officer. In his new role, Musenge will lead Klapton Re’s technology function, focused on driving the development of integrated systems and data-led solutions to improve efficiency, enhance customer experience and support smarter business decisions. The executive is an experienced ICT and…

Constellation Institutional Markets, specialists in large institutional finance and insurance solutions and part of Constellation Insurance Company, has announced that it will re-enter the pension risk transfer (PRT) market. With this move, the company aims to expand its institutional capabilities and offering of long-term retirement solutions. Constellation Institutional Markets now offers group annuity contracts through…

Global reinsurance brokerage and advisory firm Gallagher Re has appointed Shreyaa Vohra as executive director of Dubai International Financial Center (DIFC). In her new role, Vohra will lead the broker’s interim team in Dubai. Most recently, she served at Forbes Price. Vohra has over 14 years of international experience in London and the Middle East,…

Driven by increasing competitive pressure, market softening and rapid advances in AI, four in 10 insurers are now using artificial intelligence in underwriting, a move that marks a key stage in their digitalization, new research from Sollers Consulting shows. Underwriting automation is quickly becoming a strategic priority for insurers in all major markets. This marks…

The Foreign, Commonwealth and Development Office (FCDO), which is responsible for the UK’s global diplomacy, development and consular work, has committed an additional £3 million to the Technical Assistance Facility (NDF TA Facility) run by the Natural Disasters Fund (NDF), a hybrid risk transfer instrument designed to mitigate climate-related challenges and build resilience in low-…

Clear Group, an independent insurance and employee benefits group with operations across the UK and Ireland, continues to expand its leadership team with the appointment of two senior executives to support its long-term growth plans. The company has appointed Phil Williams as group chief commercial officer (CCO) and Matthew Alcott as UK retail chief executive….

Hamilton Insurance Group, Ltd., a specialty insurance and reinsurance company headquartered in Bermuda, announced the appointment of Mike Mulray as President of Hamilton Select and the appointment of Daniel Tague as Chief Underwriting Officer of Hamilton Select. Hamilton Select is the primary carrier for Hamilton’s domestic U.S. over- and over-capacity routes. The leadership appointments support…

Sidecar formation is set to grow significantly in 2025, driven by strong annuity sales in the United States, according to a new report from credit ratings agency AM Best. During this period, total reserves provided to these entities increased to more than $90 billion, a significant increase from $55 billion in 2023. Sidecars act as…

Sidecar formation is set to grow significantly in 2025, driven by strong annuity sales in the United States, according to a new report from credit ratings agency AM Best. During this period, total reserves provided to these entities increased to more than $90 billion, a significant increase from $55 billion in 2023. Sidecars act as…