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A new report from Swiss Re suggests that while insurance coverage has largely kept pace with rapidly growing risks, the rising value of assets affected by natural disasters, and the resulting increase in absolute coverage gaps, continues to pose a resilience risk, highlighting the need for targeted adaptation projects to reduce expected losses, reduce physical…
Gallagher Re has announced the deployment of the Allphins risk management platform, becoming the first reinsurance broker to be licensed for the tool. The global broker has signed a multi-line agreement covering real estate, onshore energy and terrorism businesses for the platform. The deployment comes at a time of continued pressure on property catastrophe rates,…
Arch Capital Group Ltd., a global provider of insurance, reinsurance and mortgage insurance, has expanded President Maamoun Rajeh’s responsibilities to include oversight of its insurance division in addition to the reinsurance and mortgage businesses he already leads, as the company adopts a single-president model. Archie explained that David Gainsbourg will step down as president and…
International specialist insurer and reinsurer Convex Group Limited has launched a wholly-owned, technology-enabled managed general agency (MGA) called Kinetic Insurance Services (Kinetic), which will commence trading in the final quarter of this year. The reinsurer explained that MGA, based in the UK, has FCA regulatory approval and will target specialist and niche business areas that…
Resilience, a cyber risk solutions company that combines cybersecurity expertise, risk management technology and cyber insurance services, has launched a new Private Equity Cyber Risk program designed to help private equity (PE) firms better understand and control cyber risks in their portfolios. The program combines Arc, Resilience’s cyber risk management platform for complex organizations, with…
Bermuda-based insurer Mereo Insurance Limited (Mereo) has begun underwriting the first excess casualty energy policies under a renewal rights deal between Everen and Cedar Trace, an insurance, reinsurance and asset management group that is strategically aligned with Mereo. This follows a reported acquisition of Everen Specialty Ltd.’s (ESL) excess casualty energy portfolio renewal rights and…
Investment banking and research firm TD Cowen released a report titled: Our view on the E&S market, Review the latest developments in the excess and surplus (E&S) insurance industry. TD Cowen pointed out in the analysis that the recent slowdown in E&S growth is mainly related to weak pricing conditions, especially in the property and…
Istanbul-based insurance brokerage Monopoli Sigorta Aracılık Hizmetleri A.Ş. has joined the international platform of global insurance brokerage Acrisure as part of its new strategic partnership. This partnership marks an important milestone for Monopoli Sigorta and the wider Turkish insurance intermediary industry. This is also Acrisure’s first cooperation in the Turkish market. Founded 25 years ago…
Pro Global, a provider of professional services and advisory solutions to the insurance industry, has launched Pro Broker Europe GmbH, a new European platform designed to support UK brokers looking to establish and grow their businesses in Europe. The launch follows Pro Broker Europe GmbH’s receipt of Lloyd’s European certification, which Pro said strengthens the…
Core Specialty Insurance Holdings, Inc. and its subsidiaries announced the appointment of Jeff Consolino, the company’s founder, president and chief executive officer, as executive chairman and announced other changes to the board of directors. Consolino will succeed Ed Noonan, who has resigned as executive chairman of Core Specialty’s board of directors. Noonan, who has served…