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The Government of Jamaica has returned to the catastrophe bond market for the third time, issued by the World Bank’s International Bank for Reconstruction and Development (IBRD), renewing a key part of its disaster risk financing infrastructure, following the triggering and full disbursement of a second catastrophe bond in 2025 following Hurricane Melissa. The World…
International insurer and reinsurer QBE has expanded its property product range to include new parametric insurance coverage through a strengthened partnership with K2. The reinsurer explained that the move is a direct result of the growth in complex catastrophic risks, with organizations increasingly seeking innovative coverage and solutions. The collaboration builds on a long-standing relationship…
Aon, a global professional services firm specializing in risk, retirement and health solutions, has appointed Ben Major as head of network brokerage for its global brokerage centers financial business unit. He has extensive experience in the London insurance market, having worked in both the professional and financial sectors, with a focus on the development and…
Property and casualty insurance company Liberty Mutual Insurance announced that it has increased its stake in Liberty General Insurance Limited (LGI) to 74%. Liberty General Insurance Ltd. is a joint venture (JV) between Summit Asia Investments Holdings Pte. Ltd. and Summit Asia Investments Holdings Pte. Ltd. Ltd., a group company of Liberty Mutual Insurance Group,…
Markel Insurance, the insurance business of Markel Group, has announced the appointment of Sebastian Rice as Head of Global Development – Trade Credit. In his new role, Rice will report to Phil Amlot, global head of international trade credit, with whom he will work closely to drive innovative, solution-led underwriting and develop customized products to…
Central and Eastern European insurance group Vienna Insurance Group (VIG) has completed the previously announced acquisition of NÜRNBERGER Beteiligungs-AG. The process began in the summer of 2025, when VIG announced that it was considering acquiring a majority stake in Nuremberg. After completing due diligence, VIG launched a voluntary public takeover offer in October 2025 to…
Indian public sector reinsurer General Insurance Corporation of India (GIC Re) has announced that its board of directors has accepted the resignation of V. Balkrishna as chief financial officer (CFO) and key management personnel. The executive retired under the company’s voluntary retirement plan, according to the announcement. Deputy Managing Director Rajesh Laheri has been appointed…
Mohammad Faizan Huq says climate risk insurance is essential, not optional, as India grapples with intense heat waves triggered by rising climate volatility, with vulnerable workers unable to withstand repeated income shocks bearing the brunt. Huq is vice president and head of reinsurance for the agriculture, parametric and accident and health (A&H) divisions at broker…
Dominick Hoare, chief underwriting officer of Munich Re’s Specialty, Global Markets and Active Underwriting Syndicate 457 Group, will retire at the end of 2026 after more than 32 years of service. Hall joined Munich Re in 1994 and held various senior underwriting and leadership roles during his tenure. He has a strong reputation in the…
Potential growth in the U.S. property and casualty (P&C) insurance industry is expected to fall to -3.7% in the first half of 2026, down from 1.6% in 2025, as insurers continue to contend with catastrophe risks, inflationary pressures and rising claims costs, according to new forecasts from the Insurance Information Institute (Triple-I) and actuarial and…