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Australia’s non-life insurance industry has shown resilience in the face of an increasingly complex and interconnected risk landscape, with total insurance revenue of approximately A$77.7 billion (US$54.1 billion) in the year to June 30, 2025, according to AM Best. Best’s market segmentation report “Australian Non-Life Insurance Segments: Leading Growth in a Volatile Environment” shows that…
JBA Risk Management, a specialist firm specializing in flood hazard modeling and climate risk analysis, has launched a new set of global flood maps that incorporate climate change projections. These tools are designed to help insurers, investors, businesses and other stakeholders assess how actual flood risk changes over time. According to JBA Risk Management, the…
Selective Insurance Group, Inc. reported higher revenue and investment income and continued growth in book value per share in the first quarter of 2026, despite rising catastrophe losses impacting underwriting profitability. In the first quarter of this year, Selective’s total revenue increased 6% year-on-year to $1.36 billion, and net premium income increased 5% to $1.22…
Openly, a technology-enabled homeowners insurance provider, announced the expansion of its long-term reinsurance partnership with Allianz Re, strengthening the structure that supports its homeowners insurance portfolio. The company also closed a growth investment round led by existing investors Eden Global Partners, Advance Venture Partners and Gradient, with strategic participation from Allianz X. Publicly stated that…
Global specialty insurance and reinsurance group Ascot announces the appointment of Kristyn Smallcombe as Chief Underwriting Officer (CUO) of Ascot US In her new role, Smallcombe will be responsible for developing and executing Ascot’s US underwriting strategy, with a focus on profitability, growth and diversification across the insurance platform. She will report to Ascot US…
Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings, provides property and casualty solutions to the plan insurance market. The company reported that it has achieved Class IX AM optimal financial size category (FSC) with policyholder surplus of more than $250 million. Spinnaker Insurance Company said the development enhances its ability to provide greater…
Guernsey-based Category 4 commercial general reinsurer Clockwork Re has appointed Mark Elliott, who has more than 25 years’ experience in the reinsurance, insurance and insurance-linked securities (ILS) sectors, as director. Currently, Elliott serves as Chief Executive Officer (CEO) of Marco Capital Re and PoloWorks Insurance Managers. In the past, Elliott has served as CEO of…
As conflicts in the Middle East and the blockade of the Strait of Hormuz disrupt global trade, a new study by Coface highlights that the Arctic route is attracting growing interest as a potential alternative. However, the company said the commercial potential of the Arctic route “remains limited” in the short term despite changes in…
Global reinsurance brokerage Gallagher Re has announced the appointment of Christopher Lynch as Vice President, US Casualty Brokerage. With more than two decades of insurance and reinsurance industry experience, Lynch has deep expertise and a proven track record of delivering results in complex risk environments. “His experience spans multiple casualty lines and a broad range…
Changing flood and drought patterns are reshaping the risk profile of global insurance and reinsurance markets, according to the 2026 Climate and Catastrophe Insights (CCI) report released ahead of Earth Day by global professional services firm Aon plc. Using its catastrophe data and forward-looking climate models, Aon reports that natural climate risks are continuing to…