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Credit ratings agency AM Best upgraded the financial strength ratings of specialty insurer RLI Corp.’s insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company to A++ (senior) from A+ (senior). In addition, the rating agency also upgraded the company’s long-term issuer credit rating from “aa” (senior) to “aa+” (senior)….
Technology-enabled reinsurer Northern Re has revealed that it has increased committed capital by $150 million, with support from new and existing investors, bringing total platform capacity to $325 million. With platform development beginning in 2020 and the company officially launching in 2022, Northern Re enters the mortgage reinsurance and insurance-linked securities (ILS) markets with a…
Technology-enabled reinsurer Northern Re has revealed that it has increased committed capital by $150 million, with support from new and existing investors, bringing total platform capacity to $325 million. With platform development beginning in 2020 and the company officially launching in 2022, Northern Re enters the mortgage reinsurance and insurance-linked securities (ILS) markets with a…
AIA Australia has become the fifth major life insurance company in Australia and New Zealand to implement VClaims, a digital rules engine developed by SCOR Digital Solutions and local technology provider Adviser Connect. The deployment, to be completed in 2025, marks another important milestone in the development of SCOR Digital Solutions’ claims automation capabilities in…
International insurance brokerage group Lockton has promoted Michael Lombardi to president of Lockton Global Solutions and Lockton Global Partners. Lombardi has been with Lockton for more than 22 years, serving as executive vice president of Lockton Global Solutions for the past seven years. He previously served as senior vice president, head of Northeast international operations…
After legislative changes enacted in 2025 reduced the level of catastrophe financing required by the Texas Windstorm Insurance Association from a 1-in-100-year Probable Maximum Loss (PML) to a 1-in-50-year Probable Maximum Loss (PML), the TWIA Board of Directors adopted a $4.3 billion 1-in-50 PML for the 2026 storm season. The one-fiftieth PML represents a loss…
South African short-term insurer Santam has appointed Nico Conradie as Chief Executive Officer (CEO) of Santam Re, the insurer’s independent non-life treaty reinsurer, effective March 1, 2026. He takes over from Santam Re chief financial officer (CFO) Kush Padia, who had served as interim CEO while the insurer continues its search for an executive head…
Hiscox Re, the reinsurance business and third-party capital platform of specialty insurer Hiscox, reported pre-tax profits of $286.7 million in 2025, up 7% from the previous year, with the unit’s undiscounted combined ratio rising to 67.4%. The global specialty insurer’s reinsurance arm will deliver insurance contract premiums (ICWP) of $1.094 billion in 2025, up 6%…
Bishop Street Underwriters has expanded its partnership with AI-powered underwriting solutions specialist Kalepa to support its London-based managing general agents (MGAs), Avid Insurance Services and Landmark Underwriting. The two companies initially collaborated in 2024 to improve the underwriting quality and execution of insurance platform MGA’s business. Based on the positive results from the initial deployment,…
Global advisory, brokerage and solutions provider WTW has appointed Krista Cinotti as head of placement strategy. This position has been created to enhance the integration, representation and strategic delivery of the firm’s placement and brokerage solutions functions. In her expanded role, Krista Cinotti will lead projects focused on strengthening operational standards, encouraging innovation, refining customer…