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The Sustainable Markets Initiative (SMI), a global private-sector coalition established by His Majesty King Charles III in 2020 when he was Prince of Wales, has completed a feasibility study examining the proposed creation of Commonwealth Mutual, a sovereign-owned mutual reinsurance vehicle intended to help Commonwealth nations manage financial exposure to extreme weather events and natural…
Swiss Re Corporate Solutions and Old Mutual Insure have entered into a strategic partnership to transfer the former’s insurance portfolio in South Africa to the latter, which will form part of Old Mutual Insure’s corporate property portfolio. The arrangement is subject to applicable regulatory approvals and completion of the agreed transaction steps. Following completion, Old…
Following the news that Russell Brand has been found guilty of rape, it has emerged that further allegations against the comedian are now being investigated. On Thursday afternoon, the stand-up comic, actor and online commentator was found guilty of one count of rape and a further three counts of sexual assault. It was later confirmed…
Gallagher Re, an international reinsurance broking and advisory business, has appointed James Whittingham as Chief Operating Officer (COO) of its UK & Ireland business, effective April 2027, subject ot regulatory approval. In the role, he succeeds Charles Crawford, who is retiring at the end of 2027. Whittingham will join Gallagher’s UK & Ireland executive team…
Russell Brand has been found guilty of rape and sexual assault. The comedian and actor had been at the centre of a three-week-long trial at Southwark Crown Court, facing charges that included three counts of rape, three of sexual assault and one of attempted indecent assault. Members of the jurors began their deliberations on Tuesday,…
AI-driven insurance company Lemonade has reported a record quarterly gross profit of $118.1 million for Q3 2026, up 48% from $79.9 million a year earlier. The insurtech said the result reflected a 73% jump in revenue to $336.1 million, helped by growth in gross earned premium and a higher premium retention rate following reduced quota…
Reinsurance broker Gallagher Re’s latest Global InsurTech Report found that global InsurTech funding fell 44.6% to $1.36 billion in Q3 2026 compared with the previous quarter, driven by a reduction in mega-round fundraising activity. According to the report, $100 million+ mega-round funding declined to $660 million in Q3’26 from $1.67 billion in Q2’26, accounting for…
Canada Life Re, Great-West Lifeco’s Capital and Risk Solutions reinsurance operation, delivered a 17% year-on-year increase in base earnings to CAD 309 million in the third quarter of 2026, mainly driven by strong new business growth in Capital Solutions. The global provider of risk and capital optimisation solutions has again delivered quarterly base earnings of…
Prices in British shops will soar next year unless the war in Iran ends, the head of the Bank of England has warned. Andrew Bailey said the rate of inflation will rise to nearly 5% – more than double the 2% target – unless a peace deal is agreed soon. He was speaking as the…
Global legacy acquirer RiverStone International has entered into a loss portfolio transfer (LPT) with Clear Spring Property and Casualty Company, a subsidiary of Delaware Life Insurance, covering approximately $325 million in net reserves. This announcement comes days after RiverStone International unveiled its ILS debut with an LPT of portfolios associated with funds managed by Leadenhall…