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A new report from credit rating agency AM Best highlights significant changes in the U.S. life and annuity industry. The assets backing personal annuity products now account for more than 36% of the industry’s total reserves, up from 32% before the 2008 financial crisis, according to AM Best. AM Best explains that this growth reflects…
Novacore, an independent specialty insurance managing general agent (MGA), has launched NovaRe, a new mortgage reinsurance sidecar powered by New Mountain Capital, LLC, a New York-based alternative investment firm, through the formation of VictoryRe. NovaRe marks the company’s entry into the reinsurance carrier market with its long-term vision to build a diversified, multi-line platform. The…
Reliance Global Group, Inc., an insurtech provider of artificial intelligence (AI) and cloud-based technology for insurance companies and brokers, has launched RELI Exchange 2.0, a platform designed to expand recruiting capabilities, improve execution, and enable faster, more efficient growth. RELI Exchange 2.0 is the next phase of the company’s insurtech platform, available to independent insurance…
A report from S&P Global Ratings shows that Asia-Pacific insurance companies have limited direct risk exposure to the Middle East and that risks remain controllable under the base scenario, but risks may escalate if the oil market chaos lasts for a longer period of time. In its report, “Asia Pacific Insurers: Market volatility is the…
Global technology services provider DXC Technology has launched its new Assure smart application based on ServiceNow, designed to help insurance companies accelerate their AI-driven transformation. Launched in March 2026 at the DXC Connect insurance executive forum, the Assure smart app combines DXC’s insurance expertise with ServiceNow’s agent AI and workflow technology to deliver a modular,…
If the Great New England Hurricane of 1938 were to occur again, it would cause more than $20 billion in insured losses in New York alone based on today’s property values ​​and reconstruction costs, according to a recent paper by catastrophe risk modeler Karen Clark & ​​Company (KCC). The KCC warned that while New York…
Aon plc, a professional services firm specializing in risk, retirement and health solutions, reports that longevity risk is becoming an increasingly important concern as UK defined benefit (DB) pension schemes reassess their long-term objectives. In recent years, enhanced funding levels have reshaped the landscape, bringing new opportunities and more complex decisions to trustees and sponsors….
Bridgehaven Europe Specialty DAC (Bridgehaven), a European insurance company specializing in commercial and professional risks, has announced the appointment of Fiona Marry as CEO Europe. Operating out of Bridgehaven’s Dublin office, Marry will be responsible for the firm’s European expansion, with a particular focus on building a more cohesive and connected ecosystem for commercial and…
Global reinsurance broker Gallagher Re has appointed MJ Sung as divisional director of its Korea team. “MJ brings 18 years of experience in the insurance and reinsurance industry. His extensive industry background will support the growth of the Gallagher Re FAC team,” the company said in conjunction with the appointment. Sung’s appointment marks another step…
Zurich-based catastrophe insurance data provider PERILS has raised its second insurance industry loss estimate for the Victorian bushfires that occurred from January 7 to 13, 2026, to $810 million. These fires destroyed 900 buildings, including 330 homes, affected infrastructure, caused the loss of more than 20,000 livestock and, unfortunately, resulted in the death of one…