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as Chizai A new incentive scheme has been launched to encourage members to re-include terrorism cover as standard in SME property policies, CEO says Tom Clementi It said the initiative has the potential not only to increase the resilience of SMEs, but also to improve economic security and significantly increase the uptake of terrorism insurance…
Marsh, a global firm specializing in risk, insurance and advisory services, announced that Mark McGivney will serve as the firm’s executive vice president and chief operating officer. His new responsibilities will be in addition to his current role as chief financial officer of Marsh, a position he has held for more than a decade. Since…
A paper by the European Insurance and Occupational Pensions Authority (EIOPA) and the European Stability Mechanism (ESM) proposes risk-sharing mechanisms at the European level, including natural catastrophe insurance pools and loan-based support, aimed at enhancing overall risk tolerance and closing Europe’s huge protection gap. The increasing frequency and severity of natural disasters poses significant economic…
PwC highlights the increasingly important role that asset-intensive reinsurance (AIR) plays in establishing the Cayman Islands as a key center for capital-efficient, asset-driven reinsurance solutions. PwC noted that the Cayman Islands has solidified its position as a vibrant reinsurance center, supported by regulatory stability, strong capital markets and a commitment to innovation. Earlier this year,…
Brace Underwriting Limited, a multi-line and alternative risk specialist underwriter backed by Octave Specialty Group Inc., has promoted Richard Wheeler to head of US underwriting and Michael Davis to head of Brace’s London underwriting. The pair previously served as senior underwriters. Their appointments reflect a new management structure designed to support Brace’s expansion across its…
The total amount of life reinsurance earmarked capital has grown significantly in traditional and asset-intensive markets over the past decade, and Guy Carpenter and AM Best expect this trend to continue, with a further 10% growth by 2025, with total global deployment expected to exceed $160 billion. The expansion of dedicated life reinsurance capital is…
HDI Global, a Germany-based corporate and specialty insurance company part of the Talanx Group, has appointed Philip Beblo as Head of Property Underwriting, effective May 1, 2026. He will assume global responsibility for the company’s property local risk business and will be responsible for further developing the portfolio and supporting its international expansion. Beblo has…
Specialist insurance intermediary PIB Group Ltd has announced the appointment of Rob Houghton as Chief Operating Officer (COO). In his new role, Horton will join the group’s executive leadership team. His responsibilities will span technology and operations, working closely with CEOs and leaders across the group to drive growth while simplifying and scaling operations and…
Insurance services provider Amynta Group has strategically merged its underwriting arm Scion Underwriting Services into Ambridge Group to expand its wholesale professional casualty business. The combined new business unit will operate as Ambridge Group’s specialty casualty underwriting division, providing underwriting solutions and expanding services to Amynta’s brokerage partners. Ambridge Specialty Casualty is designed to provide…
A new report from Standard & Poor’s suggests that growing demand for data center insurance could generate $10 billion in new premiums by 2026, underscoring the market’s growing importance and the scale of the opportunity for the global reinsurance industry. The ratings agency also said annual investment in data centers could exceed $300 billion by…