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Verisk, a global data analytics and technology provider to the global insurance industry, has expanded its strategic collaboration with KYND, a provider of cyber risk management services, to bring enhanced cyber risk intelligence to the insurance market. According to KYND’s research, 80% of the UK’s top 50 retailers face at least one critical cyber breach,…

Insurance intermediary group Howden has announced that Clive Strickland has joined the company to establish and lead its new dedicated space insurance business. An industry veteran with more than 25 years of experience in the field, Strickland brings deep market relationships and expertise to Howden with a proven track record of success in building and…

As the digital threat landscape becomes more volatile and disturbing, cyber insurance is expected to become mandatory for doing business, driven by pressure from large enterprise customers, according to market forecasts from Tom Pelham, global head of cyber and data, and Arran Roberts, partner at Kennedys. In a recent report, executives offered five predictions outlining…

The Abu Dhabi Investment Office (ADIO) and Prudential Financial Corporation (PFI) have signed a strategic cooperation agreement to expand Abu Dhabi’s reinsurance capabilities as well as long-term investments, retirement savings and income. PFI has joined Abu Dhabi’s FinTech, Insurance, Digital and Alternative Assets (FIDA) Cluster, a strategic initiative led by the Abu Dhabi Department of…

The International Finance Corporation (IFC), a member of the World Bank Group, will acquire approximately 20% of each of USG and Kniazha, two Ukrainian non-life insurance companies owned by the Vienna Insurance Group (VIG), through a capital increase, subject to regulatory approval. With IFC’s support, the companies are expected to expand their product portfolios and…

Specialist reinsurance broker Willis Re has welcomed three new employees: Freddie Vaughan, Graham Devlin and Nicola McIntosh, who join the company from Marsh McLennan’s reinsurance arm Guy Carpenter. Vaughan has over 14 years’ experience in the specialty reinsurance market, having started his career in JLT Re’s Marine Energy and Terrorism team where he worked for…

Cyber ​​reinsurance/insurance companies face pricing pressure and increased competition in mature markets, particularly the U.S., despite growth opportunities in underpenetrated regions and small and medium-sized players, according to new analysis from S&P Global Ratings. Standard & Poor’s has given a stable outlook to the global cyber insurance industry, driven by its favorable profitability and expectations…

Global insurance and reinsurance brokerage group WTW has agreed to acquire San Francisco-based Newfront, a top 40 U.S. broker with deep expertise and cutting-edge technology, for $1.3 billion upfront and contingent consideration. With this acquisition, WTW will expand its presence in the U.S. mid-market and in high-growth specialty areas such as technology, fintech and life…

Canada Life UK has completed a £330 million plan-wide buy-in deal with Comet Pension Plan, ensuring future benefits for 4,500 pension plan members. According to Canada Life UK, the sponsoring employer of the Comet Pension Plan is part of Fnac Darty, Europe’s top omni-channel retailer of electronics, appliances, culture and leisure products. The scheme was…

Ortec Finance, known for its technology and risk management expertise in finance, has released new findings highlighting how quickly climate pressures are reshaping the insurance industry’s financial outlook. The firm’s research concludes that insurers need to make a fundamental shift in their investment strategies if they intend to protect their portfolios and maintain operational stability…