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After successfully pricing its latest catastrophe bonds, the Texas Windstorm Insurance Association (TWIA) now needs approximately $1.23 billion in new reinsurance to meet risk transfer requirements through 2026, our insurance-linked securities (ILS) sister publication Artemis reports. We reported in February that the TWIA board set a $4.3 billion fiftieth PML for the 2026 storm season,…
Willis, a WTW company, has announced the launch of a new carbon capture and storage (CCS) insurance solution. The fully integrated insurance suite is designed to support developers and operators across the entire CO2 capture, transportation and storage value chain. According to the announcement, the new solution adapts upstream energy, ocean, liability and environmental protection…
Howden Re, the reinsurance, capital markets and strategic advisory arm of Howden, has announced further changes to its Swiss platform and leadership team as the company continues to strengthen its presence in Europe. Switzerland remains a strategically important market, the company said, highlighting its ongoing efforts to build on the platform it established following the…
Odyssey Reinsurance Company (OdysseyRe), the property and casualty reinsurance division of Odyssey Group Holdings, Inc., a subsidiary of Fairfax Financial Holdings Limited, has appointed Tegwen Gromellon and Anne-Claire Serres as co-chief underwriting officers (CUO) for its Europe, Middle East and Asia (EMEA) division, effective July 1, 2026. The pair succeed long-time CUO Gaël Le Païh,…
The European Center for Medium-Range Weather Forecasts (ECMWF), the European intergovernmental organization specializing in weather and climate forecasting, has signed a memorandum of understanding with international insurance company and asset manager Generali Group to expand the use of quality-assured climate information to support climate risk resilience across Europe. The agreement strengthens the existing relationship between…
Cyberattacks are expected to cost large UK businesses £11.7bn in 2025, with shareholder litigation accounting for £3.7bn of the total cost, according to new research by international insurance broking, risk management and consultancy firm Gallagher, in collaboration with the Center for Economics and Business Research (CEBR). The study simulated a scenario in which each affected…
Aon has unveiled plans to launch the Aon Digital Placement Exchange (Aon DPX), a new digital trading platform that will modernize the placement of Follow Line businesses in the London market by using structured data and algorithmic trading to more effectively connect brokers, capital and risk. The platform plans to go online in the second…
Novatae Risk Group (Novatae), the wholesale insurance business of World Insurance Associates, has announced the appointment of Brian Voorhees as Managing Director (MD) of Personal Lines. In his new role, Voorhees will lead Novatae’s personal lines business and be responsible for setting strategic direction, driving growth and delivering strong operational and financial results. He will…
Markel, the insurance business unit of Markel Group Inc., has expanded its professional liability offerings to provide insurance protection against rapidly evolving creative, digital and professional risks. The enhanced ProSolutions product portfolio is a suite of professional liability products designed for specific risks and designed to eliminate insurance blind sports. By consolidating multiple insurance needs…
Incline P&C Group, an Austin, Texas-based property and casualty insurance planning platform with more than $2 billion in total written premiums, announced the appointment of Michelle Hubicki, AFIS, as director of reinsurance. In her role at Incline P&C Group, she will be responsible for leading the execution of core treaty renewals and project placements across…