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Indian public sector reinsurer General Insurance Corporation of India (GIC Re) has announced that its board of directors has accepted the resignation of V. Balkrishna as chief financial officer (CFO) and key management personnel. The executive retired under the company’s voluntary retirement plan, according to the announcement. Deputy Managing Director Rajesh Laheri has been appointed…
Mohammad Faizan Huq says climate risk insurance is essential, not optional, as India grapples with intense heat waves triggered by rising climate volatility, with vulnerable workers unable to withstand repeated income shocks bearing the brunt. Huq is vice president and head of reinsurance for the agriculture, parametric and accident and health (A&H) divisions at broker…
Dominick Hoare, chief underwriting officer of Munich Re’s Specialty, Global Markets and Active Underwriting Syndicate 457 Group, will retire at the end of 2026 after more than 32 years of service. Hall joined Munich Re in 1994 and held various senior underwriting and leadership roles during his tenure. He has a strong reputation in the…
Potential growth in the U.S. property and casualty (P&C) insurance industry is expected to fall to -3.7% in the first half of 2026, down from 1.6% in 2025, as insurers continue to contend with catastrophe risks, inflationary pressures and rising claims costs, according to new forecasts from the Insurance Information Institute (Triple-I) and actuarial and…
Reinsurance and capital solutions broker Augment Risk has confirmed that Crystal Maragh has joined its global parametric specialist division in Miami. In this role, she will focus on supporting the growth and delivery of parametric trading, leveraging her experience in actuarial science, parametric product development and risk analysis, as part of the firm’s wider strategy…
Following consultation with Lloyd’s and 68 organizations across the London Market, London Market Group’s Data Committee has updated the Core Data Record (CDR) to version 3.3, introducing new data fields designed to support treaty reinsurance operations. The scope of the new v3.3 placement CDRs has been expanded from the current v3.2 standard covering open market…
CopperPoint Insurance Company, a Phoenix-based specialty provider of workers’ compensation and commercial insurance solutions, has signed a definitive agreement to acquire General Indemnity Group (GIG), an insurance holding company focused on commercial and contract surety solutions in all 50 states and Washington, D.C. The transaction includes GIG subsidiary United Casualty & Surety Insurance Company (UCS),…
Ivans, a division of Applied Systems, has released Ivans Index results for April 2026, showing year-over-year growth in average premium renewal rates for Commercial Auto, Business Owners Policy (BOP), General Liability, Commercial Real Estate and Umbrella. Conversely, workers’ compensation premium renewal rates declined during the same period. On a quarter-over-quarter basis, commercial auto, commercial property…
CFC, a specialist insurance provider focused on emerging risks and recognized as a market leader in cyber insurance, has appointed industry veteran John Howard as chairman, subject to regulatory approval. Howard brings more than three decades of industry experience, including a strong track record in the U.S. specialty, CFC’s largest distribution market and a priority…
In Lloyd’s second quarter market news, Rachel Turk, head of performance and strategy, warned that cyber risk vectors continue to evolve, with artificial intelligence adding further complexity and uncertainty through the use of threat actors and raising new questions around potential coverage. Lloyd’s has classified the network business for a “marginal” adequacy assessment, indicating significant…