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Scattered thunderstorm activity affected parts of Western and Central Europe in June amid an intensifying heat wave, causing economic and insured losses that could reach hundreds of millions of euros, according to Aon’s latest weekly Cat Report. In addition, the report said that extreme heat has killed dozens of people, and as excess mortality data…
Zambia-based reinsurer Klapton Reinsurance (Klapton Re) has announced the appointment of Aloisia Panashe Kufakunesu as Head of Risk Insights and Actuarial Affairs. In her new role, Aloisia will lead Klapton Re’s risk insights and actuarial functions, providing strategic actuarial expertise to enhance risk management, support product development and deliver data-driven insights to drive value for…
Insurance and reinsurance broker Aon believes that despite a rapid increase in investment in cybersecurity in recent years, cyber insurance still accounts for only a small portion of overall cyber spending. The company believes that as cyber incidents cause greater operational and financial losses, many organizations continue to retain significant cyber-related financial risks on their…
Global insurance intermediary platform ANV Group has entered into a definitive agreement to acquire Assured Underwriting Group Limited (AUG), a specialist MGA that provides insurance-backed financial protection products to tour operators and the travel industry in the UK and Europe, from private equity firm Mobeus. Founded in 1983 and headquartered in London, AUG is led…
Direct-to-consumer home and auto insurer Kin today confirmed that its three mutual exchanges have completed reinsurance programs at renewal on June 1, providing more than $1.9 billion in coverage for natural catastrophe events, with the combined cost per dollar of risk coverage reduced by 25% compared to the cost paid at renewal in 2025. The…
HDI Global (HDI), the corporate and specialty insurance company of Talanx Group, has appointed Justin Gress as chief operating officer (COO) of its US operations. In her new role, Gress will be tasked with managing a broad range of operational responsibilities, including product development, transformation, talent management and the enhancement of data and technology capabilities….
Lemonade, a digital insurer powered by artificial intelligence and social impact, has chosen to reduce its quota share transfer from 20% to about 18% at renewal on July 1, meaning the insurer will retain a larger share of its expanding gross profits. In addition to the reduced quota share for the 2026-2027 reinsurance program, Lemonade…
Global insurance brokerage and risk advisory firm Marsh believes that despite rapid growth in cybersecurity investment in recent years, cyber insurance still accounts for only a small portion of overall cyber spending. The company believes that as cyber incidents cause greater operational and financial losses, many organizations continue to retain significant cyber-related financial risks on…
Specialty private equity firm Flexpoint Ford has closed a single asset continuation vehicle for SageSure, a general underwriter (MGU) specializing in the catastrophe risk market, with total commitments in excess of $460 million, including commitments from the general partner and rollover investors. The continuation vehicle, led by Lexington Partners with participation from Barings and Round2…
Howden Re said the July 1, 2026 reinsurance renewals in Latin America were completed in a market with ample capacity, increased competition and growing demand for structural innovation, with rate reductions of 15% to 20% for property catastrophe excess loss plans. Expanding interest from the Bermuda, London and MGA markets was reported in Latin America’s…