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Canada Life, a British insurer that provides life insurance and pension risk transfer services, has completed a £48 million acquisition of the oil and gas industry pension scheme. The deal secures future benefits for more than 500 pensioners and deferred members. WTW serves as lead broker and also provides plan actuary, administration through its OneDB…
The Travelers Companies, Inc., a provider of property and casualty insurance for auto, home and business, has developed TravelersLLM, a proprietary large language model tailored specifically for its property and casualty business. Trained on millions of company documents and built by Travelers engineers and data scientists, TravelersLLM builds on the company’s domain expertise by enhancing…
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re, has appointed Yann Krattiger as head of commercial growth initiatives for Alternative Risk Transfer (ART). The company said Krattiger has helped shape its alternative risk transfer offerings over the years, contributing extensive expertise and a collaborative approach to complex risk challenges. Swiss Re Corporate…
AM Best, a global credit rating agency, said that although insurance companies have become increasingly picky about the underwriting capabilities they provide and pay more attention to underwriting performance and long-term profitability, the delegated underwriting enterprise (DUAE) market still maintains strong growth momentum. in its latest Best’s segment market reporting, managing general agents adapting to…
Specialty insurance and reinsurance group Fidelis Partnership (TFP) has announced that one of its Lloyd’s syndicates, Syndicate 3123, has successfully secured $75 million in reinsurance protection from the capital markets through its first catastrophe bond transaction, Woody Re 2026-1. The catastrophe bond notes have a three-year term ending on June 30, 2029, through a segregated…
ICEYE, the company that operates the world’s largest synthetic aperture radar (SAR) satellite constellation, has announced the expansion of its wildfire intelligence capabilities into Canada, a country of high concern. A country hit by wildfires. A recent report from the Canadian Climate Institute highlighted the surge in wildfire activity, noting that three of the worst…
Olivia Bishop has been named chief global catastrophe underwriting officer for Bermuda-based reinsurer Partner Re, a role she will hold in conjunction with her current role as senior vice president and head of North America catastrophes. “As the disaster landscape evolves, I am excited to help drive our underwriting strategy and create value for our…
According to Aon’s recent Reinsurance Market Dynamics report, Florida insurers enter mid-year renewals in a strong position, securing an additional $5-7 billion in reinsurance underwriting as ample supply is sufficient to meet growing demand. In addition to stronger balance sheets, Florida insurers began mid-year renewals and improved underwriting performance, marked by recent legal reforms to…
Malibu Life Holdings Limited, a London Stock Exchange-listed insurance holding company focused on the U.S. retirement and annuity market, has completed the acquisition of TruSpire Retirement Insurance Company, which will be renamed Malibu Life USA. The acquisition was initially announced in October 2025, when Malibu Life signed a definitive agreement to acquire TruSpire. TruSpire (now…
The political violence and terrorism (PV&T) reinsurance market faces an “exceptionally active” environment during the July 1 renewal season, Howden said, as underwriting appetite in the Middle East is reshaped and broader changes in global risks, from civil unrest in the Americas to active attacks in Europe, further increase complexity for existing insurers and new…