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The Australian Prudential Regulation Authority (APRA) has released the Insurance Climate Vulnerability Assessment (Insurance CVA), a prudential stress test that shows how climate-driven premium pressures can significantly widen the household insurance protection gap and weaken the resilience of Australia’s financial system. APRA’s insurance CVA examines how home insurance cover is expected to decline by 2050…
UK-based flood science specialist JBA Risk Management has extensively updated its global flood model, enhancing it with updated hazard maps and an expanded set of future climate events, while improving processing speed and risk classification. These developments are designed to enable reinsurers, insurers, brokers, risk managers and asset managers to better map current and changing…
Specialty insurance provider Westfield Specialty International has announced the promotion of Katie MacGregor to Chief Operating Officer (COO). In her role, McGregor will lead the operational function for the international business – covering the UK, Middle East and Europe – working closely with senior leadership to support growth in these markets. She will report to…
Specialty insurer Mosaic Insurance has announced the reorganization of its two core underwriting centers to better integrate international resources and support its next phase of growth. As part of the restructuring, current CEO of Mosaic’s Singapore operations, Benn Wilson, will relocate to Dubai, United Arab Emirates, to lead activities across the Middle East and Asia…
Specialty Managing General Agent (MGA) Amiga Specialty has signed a major capacity agreement with AXA XL which will strengthen its financial institution (FI) proposition and accelerate its growth in international markets. The transaction focuses on insuring core financial risks, including directors and officers (D&O) liability, professional liability and crime. Adam Kembrooke, founder and CEO of…
OAK Global is targeting increasingly interconnected climate and technology risks with the launch of OAK Horizon, a new underwriting arm designed to bring capital into emerging risk exposures, with CUO Tom Dickson noting that the window to address growing volatility across sectors including food security, energy and supply chains is shrinking. Dickson, whose responsibilities have…
HDI Global, the corporate and professional insurance company of the Talanx Group, announced positive financial results for 2025, with insurance revenue rising by 5% to 10.3 billion euros, adjusted for currency effects. The insurer said growth was primarily driven by inflation-related price adjustments in new and existing business. Dr. Edgar Puls, CEO of HDI Global,…
Global reinsurance brokerage Gallagher Re, in partnership with MIT and Testudo, has released a new white paper arguing that existing insurance frameworks are unable to cope with the risks posed by artificial intelligence (AI). Gallagher Re said that as companies integrate AI systems into their daily operations, they are creating risk exposures beyond the scope…
Alacrity Solutions, a US-based insurance services company specializing in complex and catastrophe-driven claims, has opened a UK office in London’s Lloyd’s Building to support insurers and policyholders taking on US risks through the London market. Alacrity, which has extensive experience handling high-volume claims across all 50 US states, explained that its launch in the UK…
AM Best maintains its stable outlook on the UK non-life insurance business, noting that despite elevated geopolitical risks, headwinds and tailwinds affecting the operating environment for the business remain broadly balanced. The ratings agency said continued minimal economic growth and rising unemployment through 2026 mean insurers may face lower demand for discretionary insurance products and…