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According to the Insurance Council of Australia (ICA), insurers have received 1,386 claims arising from the severe bushfires affecting Victoria since January 7, 2026, with 30 per cent of all property claims currently being total losses. The ICA declared the bushfires a major incident on January 12, and over the past few days they have…
Swiss Re has announced that Fathom’s flood hazard and terrain data are now integrated into its internal catastrophe models to enhance the reinsurance giant’s understanding of global flood risk. Swiss Re said that since acquiring Fathom in December 2023, its team has been working to expand and harmonize Fathom’s core data sets to support the…
International business insurer QBE has appointed Henrik Hansen to the newly created position of Nordic senior life sciences underwriter. Headquartered in Copenhagen, Denmark, Hansen is responsible for developing QBE’s pharmaceutical life sciences (PLS) portfolio in the region. The appointment is in line with the insurer’s long-term growth plans in the life sciences sector in the…
The newly formed Niyam Group has received in-principle approval from the specialist Lloyd’s re/insurance market to form Syndicate 2047, which will be managed by Polo Management Agency (PMA), part of the PoloWorks Group, and is expected to commence underwriting on 1 April 2026. The approval marks a major milestone in the group’s plans to provide…
Mutual insurance and reinsurance group Groupama has issued its first hail-focused catastrophe bond, structured as a blanket indemnity to protect its property and automotive portfolio in mainland France from annual losses caused by hail. The €120 million Quercus II Re DAC issuance is effective from January 1, 2026, has a validity period of 2 years,…
Markel Insurance, the insurance arm of Markel Group Inc., announced the appointment of Preeti Gureja as chief risk officer for the United States and Bermuda. In her new role, Gureja will lead the risk agenda for Markle’s U.S. and Bermuda insurance businesses. She will be based in New York and report to Markel Insurance Chief…
Specialty re/insurer Advanced Technology Assurance Limited (ATA) has launched new insurance instruments worth up to $750 million to support the global expansion of artificial intelligence infrastructure, an industry expected to attract nearly $7 trillion in investment by 2030. ATA’s global data center and AI infrastructure insurance facility is backed by a consortium of more than…
Global specialty reinsurance group Chaucer has appointed Les Loh as CEO of Singapore (subject to regulatory approval) and Dan Bryan as head of reinsurance for Asia Pacific, reporting to Loh. Loh will take office on March 2, 2026, and Bryan will take office in the second quarter of 2026. Loh joins Chaucer from Guy Carpenter,…
While global natural catastrophe losses totaled $244 billion in 2025, below the 10-year average, insured losses once again exceeded $100 billion, reaching $108 billion, according to Munich Re, one of the world’s leading reinsurers. 2025 is one of the years when insured losses surpass the $100 billion mark, although this is down from $147 billion…
Amiga Specialty has secured support from Lloyd’s for its Financial Institutions (FI) products, strengthening its ability to deliver specialist, underwriting-driven solutions to a wide range of financial and professional organizations across the UK, Europe and international markets. Amiga explained that its financial proposition provides asset managers, investment firms, funds, banks and fintech companies with tailor-made…