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Tearfund, a UK-based international humanitarian and development organization, has reported the first drought insurance payout of its kind in Nepal, helping vulnerable families avoid severe food shortages and deeper poverty following a failed harvest. The payout was triggered through a parametric insurance product developed by Global Parametrics (part of Celsius Pro Group), which uses satellite…
Santam Group, Africa’s largest non-life insurance company, has appointed Hemant Gulati as country head and chief officer of its operations at GIFT City, India’s first operational greenfield smart city and international financial services centre, pending regulatory approval. In his new role, Gulati will lead Santam GIFT City operations with a focus on strengthening the specialty…
ICIEC, a Sharia-based multilateral insurance company and a member of the Islamic Development Bank Group, has signed a framework reinsurance agreement with the OeKB (acting as agent of the Republic of Austria under the Export Guarantees Act) to strengthen export credit and investment risk protection. The agreement, signed during the 2026 Berne Union Spring Meeting,…
ICIEC, a Sharia-based multilateral insurance company and a member of the Islamic Development Bank Group, has signed a framework reinsurance agreement with the OeKB (acting as agent of the Republic of Austria under the Export Guarantees Act) to strengthen export credit and investment risk protection. The agreement, signed during the 2026 Berne Union Spring Meeting,…
Speaking on Accelerant’s first-quarter 2026 earnings call, Accelerant co-founder and CEO Jeff Radke highlighted the productivity gains the company has achieved through the use of artificial intelligence, including the development of in-house solutions designed to reduce and potentially eliminate reliance on expensive third-party software systems. Radke, who has previously highlighted that AI forms a core…
Global insurance broker Howden has announced major leadership changes at Howden Asia, appointing Alaric Lee as CEO of Hong Kong and Alfred Sham as Chief Strategy Officer of Asia. Lee currently serves as chief commercial officer for Asia and will assume his new role on July 1, 2026. He has over a decade of market…
Japanese insurance group MS&AD Insurance Group Holdings, through its subsidiary Mitsui Sumitomo Insurance Co., Ltd. (MSI), has completed the acquisition of an 18% stake in Barings Bank, the global alternative asset management subsidiary of MassMutual Bank. Upon completion of the transaction, which was initially announced in November 2025, MS&AD becomes a long-term strategic partner of…
Robert Lewis, CEO of INTX Insurance Software, emphasized that the company’s assumed and ceded reinsurance products are of interest because of their ability to manage complex reinsurance treaties and temporary contracts, with flexibility and configurability at the core of their value proposition. INTX offers two reinsurance products: INTX Re, a purpose-built operating system for assumed…
Novella, an artificial intelligence (AI)-powered wholesale insurance broker, has raised $21 million in funding to expand its business, hire agents and develop its proprietary AI platform. The financing was led by Brewer Lane Ventures, with participation from Box Group; Crystal Venture Partners; SV Angels; Avid Ventures; Verissimo Ventures; Blank Ventures; and global insurance firm Arch….
Insurance industry leaders emphasize that artificial intelligence (AI) is fundamentally changing the way insurers interact with people, emphasizing that the technology should enhance rather than diminish empathy, personalization and face-to-face interactions, according to a recent report by Sollers Consulting. The report is based on insights from 11 CEOs of the world’s leading insurance companies. It…