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AM Best upgraded Ocean International Reinsurance Co., Ltd. (Ocean Re)’s financial strength rating to A (Excellent) from A- (Excellent), its long-term issuer credit rating to “a” (Excellent) from “a-” (Excellent), and the rating outlook was adjusted to stable from positive. AM Best noted that the upgrade reflected Ocean Re’s “very strong” balance sheet strength and…
A recent report from the Swiss Re Institute shows that the data center industry is evolving into increasingly complex, high-energy-density facilities that concentrate risk within a single site, with underwriting success dependent not only on capacity but also on professional technical assessment and rigorous accumulation management. Swiss Re highlighted that the data centers that power…
XS Global, the independently owned managed general underwriting (MGU) platform, has announced the appointment of Daniel Abramson as head of Asia Pacific construction underwriting based in Hong Kong. Abramson has more than 25 years of insurance industry experience, including construction and energy underwriting. Prior to joining XS Global, he served as Head of Construction at…
The Southeast Asian Disaster Risk Insurance Fund (SEADRIF) Insurance Company, a regional initiative supporting disaster risk financing solutions, and the ASEAN Coordinating Center for Humanitarian Assistance in Disaster Management (AHA Centre), the regional body for disaster response coordination, recently signed a Memorandum of Intent (MoI) in Bali, Indonesia. The agreement establishes a collaborative framework to…
UK registered life insurance broker Reassured has reached the milestone of offering over 2 million life insurance and critical illness policies to customers since 2009. In December 2025, the broker confirmed that the number of households protected through term insurance had increased by 16% so far this year. This comes against a backdrop of overall…
WTW said a protracted Middle East conflict is emerging as the most likely near-term scenario to impact terrorism and political violence reinsurance renewals, and the market has entered a new equilibrium. Fergus Critchley, global head of terrorism and political violence at WTW, speaking ahead of renewals on April 1, said the market appeared to have…
Infosys, a provider of digital services, business consulting and outsourcing services, is to acquire Stratus, a technology solutions provider for the property and casualty (P&C) insurance industry. The acquisition, which is expected to be completed by the first quarter of fiscal 2027, subject to satisfaction of closing conditions, is aimed at strengthening Infosys’ position in…
Credit rating agency AM Best has removed the positive under review status and affirmed Sompo Japan Insurance Inc. and its subsidiaries’ A+ (senior) financial strength rating and “aa-” (senior) long-term issuer credit rating. The outlook on the financial strength rating is stable, while the outlook on the long-term issuer credit rating is positive, AM Best…
Specialty insurer Tokio Marine Kiln (TMK) has appointed Francesca Kevill as underwriter in its cyber and enterprise risk teams, effective immediately. In her new role, Kevill will report to Ellie Webb, head of commissioned networks and intellectual property. Her appointment builds on a period of significant investment in TMK’s cyber capabilities. The company recently launched…
Global insurance and reinsurance brokerage group Aon’s weekly catastrophe report cited Hawaii government officials as saying that the back-to-back Kona storms that brought extreme rainfall and subsequent flooding to much of Hawaii from March 10 to 24 will result in total economic and insured losses of at least $1 billion. Aon’s report explains that the…