Archives for October 2024

The Board of the Lloyd’s Market Association (LMA) has announced it is adopting a new process for the appointment of a Chair, this includes a timing and procedural change. According to the announcement, following the recommendation of the LMA Nominations Committee, the LMA Board has agreed the new Chair is to take up the position […]

FERMA, the Federation of European Risk Management Associations, represents the interests of risk managers across Europe, and in her opening speech at the FERMA Forum in Madrid, President Charlotte Hedemark urged them to adapt, improve, and innovate to tackle the fast-changing risk environment. In her address at the FERMA Forum 2024, Charlotte Hedemark emphasised the […]

Global ratings agency AM Best has revised the outlooks for Greenlight Capital Re (GLRE), Ltd. and its subsidiaries from stable to positive, while affirming GLRE’s Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-.” The outlooks for both Greenlight Reinsurance, Ltd. and Greenlight Reinsurance Ireland, Designated Activity Company, were revised from stable to positive. Additionally, AM […]

DGTAL, a provider of generative AI (GenAI) solutions designed specifically for the insurance sector, has become the first insurance-focused AI company to use AI Agents as a core element of its technology platform, marking the company’s most significant technological upgrade to date. Unlike AI solutions so far, which provide a single response to a prompt, […]

Andrew Hall, Chief Executive Officer of The Insurance Council of Australia (ICA), disclosed that four unprecedented flood events across 2022 saw more than 305,000 claims and $7.7 billion in incurred losses, including $6.3 billion from just one event. The ICA welcomed the House of Representatives Standing Committee on Economics’ report following its inquiry into insurers’ […]

Moody’s RMS Event Response has estimated that total private insurance industry losses from hurricane Milton will fall between $22 billion and $36 billion, as the firm trims its combined Helene and Milton insured loss range to $30 billion to $50 billion. For just hurricane Milton, the fifth hurricane to make landfall in the U.S. this […]

Demand for re/insurance is up as the world experiences increasing uncertainty, and this volatile environment and elevated risk landscape creates both challenges and opportunities for insurers and reinsurers in Europe, said Swiss Re’s Leopoldo Camara ahead of this year’s Baden-Baden. The current uncertain environment increases the need for dependable risk assessment, effective volatility and risk […]

Tokio Marine HCC (TMHCC), a specialty insurance provider, has announced its entry into the Excess Casualty market, appointing David Perez to lead the new offering. TMHCC’s entry into the Excess Casualty market comes at a crucial time, providing much-needed capacity for insureds as insurers continue to reduce limits in response to rising loss costs. David […]

European insurance companies posted strong results in 1H24, driven by favourable interest rates and pricing cycles, despite varied national trends, according to Fitch Ratings. Most insurers are on track for a solid full-year performance, with interest rate cuts starting and insurance price increases likely having peaked. Underwriting margins in the life insurance sector have benefited […]

Strategic Risk Solutions (SRS), an independent provider of insurance, reinsurance and captive management and consulting services, has announced that Konrad Baumann has joined SRS Switzerland as a General Manager of SRS Europe. He joins the organisation with more than 15 years of expertise in the captive industry, where he has previously focused on finance and […]