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Cayman Finance, the representative body for the Cayman Islands’ financial services industry, reports a significant expansion in the jurisdiction’s reinsurance industry following the release of 2025 insurance statistics by the Cayman Islands Monetary Authority (CIMA). According to the latest data from CIMA, Cayman Financial stated that the number of licensed reinsurance companies has increased from…
Canopius, a global specialty and P&C re/insurer, announced that Canopius US Marine and Globex Underwriting Services have formed a partnership to provide local marine policy underwriting services globally. Globex Underwriting Services, a division of Globex International Group, is an independent service provider supporting the international needs of insurance companies. Through this partnership, Canopius will expand…
Ancient Financial, a newly formed financial services company specializing in life and annuity reinsurance and asset management, has entered into a definitive agreement to acquire Bermuda-based life and annuity reinsurer F&G Re from a subsidiary of F&G Annuities & Life, which will be renamed Ancient Re upon closing. As part of Ancient, Ancient Financial will…
International reinsurance and insurance brokerage United Insurance Brokers Limited (UIB) has partnered with cyber risk analytics provider CyberCube to enhance its cyber insurance capabilities and accelerate growth in Latin America and Asia. As part of this collaboration, UIB will adopt CyberCube’s Brokerage Manager and Preparation modules to enhance the analytical capabilities of its global cyber…
Lumen Holdings, LLC, a technology-based managing general agent (MGA) headquartered in Dallas, Texas, has been acquired by Vistria Group, LP, a middle market private investment firm. The transaction positions Lumen as a new platform investment in Vistria’s financial services strategy. Vistria noted that this move reflects the culmination of years of work focused on the…
Africa Specialty Risks (ASR), a reinsurance group focused on developing markets, has announced the appointment of Laxmeekant Walikar as Chief Officer and Managing Director (MD), India. In his new role, Walikar will facilitate ASR’s entry into the Indian market through GIFT City in Gujarat, culminating in the establishment of ASR’s Lloyd’s Services Company for Syndicate…
Research and advisory firm Gartner, Inc. reports that a low-growth economic environment remains the top emerging risk in the fourth quarter of 2025. The findings come from the firm’s quarterly emerging risks report, which captures the perspectives of enterprise risk management leaders, risk and assurance professionals, auditors and senior executives on developing and longer-term risks….
Stonybrook Capital and Stonybrook Risk Management, a specialist strategic advisory and reinsurance intermediary, have successfully launched and launched a new excess hire and non-owned automobile (HNOA) insurance program. The program is managed by PT Edwards as Managing General Agent (MGA) and is backed by strong reinsurance from Florida Insurance and Reinsurance Company (Florida Re), a…
A new report from Global Parametrics notes that while catastrophe bond structures can be robust and replicable across different trigger points and geographies, several barriers remain to their effective application among humanitarian organizations. The parametric climate risk insurance provider, part of CelsiusPro Group, has therefore called for a “comprehensive assessment” of risks and organizational objectives…
Reinsurance broker and risk advisory firm Guy Carpenter, part of Marsh McLennan, has appointed Angelo De Benedetto as chief commercial officer for its Italian operations. In his new role, DeBenedetto will oversee and coordinate the company’s commercial strategy in the country. His responsibilities include increasing executive-level engagement with key partners and supporting clients as they…