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SageSure, a general underwriter (MGU) specializing in U.S. catastrophe property insurance, and GeoVera Nova, a provider of earthquake, wind, residential and commercial property insurance, announced the completion of the issuance of the first tranche of Meritage Re Ltd. Series 2026-1 catastrophe bonds in the amount of $200 million. This is the first offering from Meritage…

MNK International, an independent broker at Lloyd’s of London, has announced the appointment of Jamie Illing as CEO of MNK International South Africa. He will draw on his more than thirty years of local and international insurance and reinsurance experience to lead the delivery of new services into the South African and wider Southern African…

Lemonade, an AI-powered digital insurance company, has launched Lemonade Self-Driving Car Insurance, a product designed specifically for autonomous vehicles, starting with Tesla FSD. The new product, described as the first of its kind, reduces the per-mile rate for FSD driving by approximately 50%, a reduction that represents a significant reduction in risk during autonomous driving….

London Market Group (LMG) has announced several changes to its board of directors, including the appointment of Marsh UK chief executive Chris Lay as new chairman, succeeding Sean McGovern. Convex UK chief executive Theo Butt will also join the board, succeeding SCOR chief executive Claire Macdonald. This follows Butt’s recent appointment as President of the…

Major US insurer Travelers will be able to “significantly improve” its reinsurance coverage ahead of a key renewal date on January 1, 2026, in part due to better pricing, while also renewing its 20% quota share (QS) with Fidelis, chief financial officer (CFO) Dan Frey said recently. Earlier today, Travelers reported strong results for the…

AXA XL, the property and casualty arm of global insurance company AXA Group, has appointed Liz Rychling as head of large commercial and mid-market broker relations for the Americas. She will be based in New York and report to Matt O’Malley, chief customer and distribution officer, AXA XL Americas. In her new role, Rychling will…

The 2025 hurricane season marks the beginning of a “new era” in meteorology, with official agencies now using artificial intelligence (AI) models to determine the formation, path and intensity of storms, providing the insurance industry with more comprehensive and accurate near-term weather forecasts, according to Gallagher Re. The reinsurer’s 2025 Natural Hazards and Climate Report…

Global professional services company Aon plc has announced the appointment of Neelay Patel as Chief Executive Officer of Malaysia, effective March 2026, subject to regulatory approval. Patel has more than 20 years of experience in the insurance and risk management sector, with a large portion of his career focused on developing commercial strategy and supporting…

Research published by Dun & Bradstreet, a provider of data and analytics for business decisions, shows that the UK insurance industry is moving towards 2026, with a focus on technological advancements and tighter operational risk management. The firm’s findings show that insurers are focusing on expanding the use of artificial intelligence (AI) while increasing oversight…

Travelers has unveiled its new catastrophe excess of losses (XoL) reinsurance program for 2026, which features a significant reduction in retention and the addition of a new lower tier. The planned retention level for 2026 is $3 billion, which marks a decrease from the 2025 threshold of $4 billion. This change reduced travelers’ net exposure…