Archives for November 2024

The California Earthquake Authority’s (CEA) reinsurance and risk transfer tower has contracted by a further 6% to $7.993 billion as of November 1st, 2024, as it opted to non-renew contracts to limit the amount of capacity in excess of its minimum 1-in-350 year level as policy count and exposure continues to fall. Earlier this month, […]

In 2023, around a quarter of the the insurance industry’s total premiums came from personal P&C insurance as the segment’s gross written premiums (GWP) represented around $1.1 trillion, with growth outpacing nominal global GDP in the period, according to McKinsey & Company. Analysis by the strategy and management consulting firm reveals that personal P&C insurance […]

Bridgehaven Insurance, the hybrid fronting insurer, will serve as capacity provider alongside Accredited on a new co-insurance arrangement with Policy Expert, the UK personal lines managing general agent (MGA). According to the announcement, the agreement with Bridgehaven will last for two years, complimenting the firm’s existing six-year program management agreement signed with Accredited. The addition […]

Specialist insurance provider, CFC has announced the launch of a new comprehensive insurance solution which will provide coverage for technology and cyber risks faced by tech businesses with revenues exceeding $250 million. This new product, designed for mid-size to multinational tech companies, will cover costs associated with delays, mistakes, oversights and miscommunication along with other […]

B.P. Marsh and Partners, a specialist private equity investor in early stage financial services businesses, has further invested $12.6 million in XPT, a US based wholesale insurance broking and underwriting agency platform across the US Specialty Insurance Sector. According to the announcement, this transaction was structured via both a purchase of existing equity and an […]

The Lloyd’s Market Association (LMA) has announced the addition of two new Board members from two of its managing agents’ members. The two new members are Vivek Syal, Chief Underwriting Officer (CUO) of Tokio Marine Kiln (TMK) who will be taking over from Matthew Shaw as the TMK representative, and John Owen, Chief Executive Officer […]

M&G has launched a Value Share Bulk Purchase Annuity (BPA) proposition by completing a £500 million transaction with a private Corporate Sponsor and its UK Pension Scheme, insuring around 3,200 pensioner and deferred members. This newly launched Value Share BPA proposition’s structure reportedly allows Trustees to insure the Scheme members in the same way a […]

Nearly one in seven (13.7%) US home hunters say a concern for natural disasters or climate risks within their area is a reason they are likely to move in the next year, according to a new report from Redfin, the technology-powered real estate brokerage. A Redfin-commissioned survey which was conducted by Ipsos in September 2024, […]

The 2024-2026 outlook for reinsurers’ earnings looks positive following the robust operating results seen in 2023 where reinsurers achieved their highest profits in years, S&P analysts stated in a recent report. Growth in 2023 was fueled by decade-high investment yields and consistent rate increases in property and catastrophe lines (short-tail lines). The property and casualty […]

Hanwha Life, a South Korean life insurance company, has agreed to acquire a 75% stake in the parent of Velocity Clearing, an US-based global financial services firm. The Velocity Clearing management team will retain the remaining minority stake in the company. With this acquisition, Hanwha Life will establish a presence in the US financial sector, […]