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Tropical cyclones Fitia and Rezanifer affected more than 500,000 people and caused widespread damage to infrastructure, livelihoods and basic services in many regions of Madagascar. US$29 million has been raised to support response and recovery efforts through a combination of pre-arranged parametric financing solutions driven by African Risk Capabilities (ARC) and its partner institutions. According…
Barbados-based reinsurer Active Capital Reinsurance, Ltd. (Active Re) has successfully completed its global retrocession program, purchasing more comprehensive coverage in terms of scope and geography. Retrocession programs are used as part of a capital protection strategy designed to maintain balance sheet strength throughout market cycles. The protection covers Active Re’s in-house underwriting with its selected…
Global insurance and reinsurance brokerage group Aon has announced the appointment of George Attard as global head of analytics for Reinsurance Solutions, who will also serve as Chief Strategy Officer for Reinsurance Solutions. In this expanded role, Attard will accelerate the development and utilization of Aon Re’s analytical capabilities to help insurers navigate volatility, optimize…
Bermuda-based insurer and reinsurer Lancashire Insurance Holdings is “very pleased” with its inward and outward reinsurance renewal results on January 1, 2026, chief underwriting officer (CUO) Paul Gregory said, as the company used the opportunity to tailor better structured products to help manage its earnings volatility at this stage of the cycle. Gregory and Lancashire…
International credit ratings and research firm Morningstar DBRS said the U.S. government’s proposal to provide insurance support for ships transiting the Strait of Hormuz may not be enough to quickly resume commercial navigation in the region. Morningstar DBRS noted in a recent commentary that the escalating conflict in the Middle East has severely disrupted shipping…
Global insurance and reinsurance broker Marsh has announced the appointment of Dereck Wischmeyer as senior advisor to its global digital infrastructure industry practice. In this role, Wischmeyer will lead Marsh’s contract strategy across leases, customer agreements, supplier contracts and partnerships to help clients address risks associated with asset lifecycles and reinvestment timing. He has 12…
Aviation reinsurance underwriters are expected to implement tighter renewals by the end of 2025 as they struggle under the pressure of major claims, but direct insurers will be able to negotiate relatively modest renewals in early 2026, WTW said. WTW noted in its latest aerospace insurance market renewal outlook that while rumored 2026 renewal reinsurance…
Oneglobal Broking, an international insurance and reinsurance brokerage group providing specialist risk advisory and placement services in global markets, has announced the appointment of new leadership in Colombia and Central America as part of efforts to further consolidate its regional structure. Ernesto de Lima was appointed President of Colombia and Central America. De Lima will…
Citizens Property & Casualty Insurance Company’s rates continue to decline, reflecting a shrinking risk base as the number of policies declines and Florida’s property insurance market stabilizes. The Florida Office of Insurance Regulation has set new pricing levels that will take effect July 1 for new business and renewals of existing policies, with regulators this…
BirdsEyeView, a European Space Agency-backed insurtech company specializing in natural disaster modeling and risk management, has launched AI Data Cleansing, a new feature designed to automate statement of value (SOV) data cleaning and geolocation to support large-scale disaster modeling. AI Data Cleaning uses advanced artificial intelligence (AI) to automatically clean, standardize, and geolocate submitted Excel…