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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…
Pool Re, the UK’s largest terrorism reinsurer, has launched a new incentive scheme for its members, which comes into effect on April 1, offering discounts on reinsurance costs when members bring terrorism cover back as standard on their SME property policies. “Members can elect to reinstate coverage on some or all of their commercial real…
Gartner, a research and advisory firm specializing in business and technology insights, predicts that by the end of 2026, there will be more than 2,000 legal claims globally related to so-called “artificial intelligence death” events. This forecast reflects growing awareness of the legal and financial consequences of the continued deployment of artificial intelligence across industries….
Euclid Transactional, a managing general agent (MGA) specializing in transactional insurance underwriting and claims processing, has announced 21 senior promotions across regions and functions globally. The 21 promotions are part of 47 title and role changes across Euclid Transactional’s global claims, operations and underwriting teams. Euclid Transactional said the promotion reflects the company’s continued investment…
Jean-Jacques Henchoz, former CEO of Hannover Re, a large European reinsurance company, has been elected as a new member of the board of directors of Swiss Re, one of Europe’s four largest reinsurance companies. Swiss Re revealed plans to nominate Henchoz to its board of directors back in February and confirmed his election at its…
Liberty Mutual Insurance announces a $600 million endowment for the Liberty Mutual Foundation to build stronger, more resilient communities. This meaningful investment marks an important milestone in the company’s long-term commitment to supporting people and communities through enduring philanthropic programs and partnerships. The gift creates a self-sustaining funding source for the Foundation, providing a permanent…