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LM Re to tackle missing data in parametric cover with Celest.Science collaboration

Liberty Mutual Reinsurance (LM Re), the sole treaty reinsurance business of the Liberty Mutual Insurance Group, has partnered with Celest.Science, a  French climate-tech startup, to develop a robust fallback methodology for parametric tropical cyclone risk transfer, addressing data outages and reporting delays during extreme weather events. Parametric insurance provides payment based on pre-agreed event, such…

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Reinsurance impact of civil unrest in France likely to be small: AM Best

New commentary from AM Best has suggested the reinsurance impact of the recent civil unrest in France will likely be small because higher retentions on property catastrophe excess-of-loss treaties and stricter terms and conditions may make it harder for direct insurers to aggregate losses to reach the reinsurance threshold. Media accounts indicate that the current…

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OAK Global bolsters Lloyd’s platform with senior risk and underwriting appointments

OAK Global, a specialist risk and underwriting partner, has strengthened its leadership team with two senior underwriting and risk appointments: Fraser Scott has been promoted to Director of Underwriting Planning and Performance , and John Coe has been named Chief Risk and Compliance Officer.  In his new position, Scott will oversee the coordination of business planning…

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PIC completes £85m buy-in for Interface Europe Pension Scheme

Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension schemes, has concluded an £85 million buy-in with the Trustee of the Interface Europe Pension Scheme. This agreement ensures the long-term protection of benefits for f 1,117 scheme members. Dalriada Trustees Limited serves as the sole professional trustee for the Scheme. Interface, a…

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K2 Insurance Services to close Aegis General’s Executive Risks Division

K2 Insurance Services, a US insurance services provider, has confirmed that its subsidiary, Aegis General Insurance Agency, will discontinue operations within its Executive Risks Division as part of a wider review of its business portfolio. The company announced that the division will stop accepting new business and renewals from 1 November 2026. According to K2…

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