Carrier

With the Asia-Pacific region’s contribution to global GDP increasing, it is positioned to play a vital role in driving growth within the global insurance industry, according to the latest APAC Market Report from Gallagher Re, a reinsurance broker. This report provides insights into the diverse insurance landscapes across the Asia-Pacific, where each market faces its […]

Global insurer AXA’s property & casualty (P&C) and specialty risk division, AXA XL, achieved gross written premium (GWP) and other revenues growth of 7% in the first nine months of 2024 to €44.5 billion, supported by 10% year-on-year growth at AXA XL Reinsurance. Within the reinsurance business, premiums grew to €2.4 billion from €2.1 billion […]

Property & casualty (P&C) insurer The Hartford and Coalition, a cyber insurer, have entered into a strategic, long-term capacity partnership to combat the growing customer and broker demand for Coalition’s Active Cyber Insurance approach in the UK market. Coalition’s Active Cyber Insurance offering is designed to help organisations spot, mitigate, and respond to emerging cyber […]

Global broking group Aon estimates insurance industry losses from natural catastrophe events in the first nine months of 2024 of at least $102 billion, with the impacts of hurricane Milton and additional events expected in the rest of the year poised to push annual insured losses above the $125 billion seen in 2023. From January […]

Fannie Mae, a government-sponsored enterprise (GSE), has announced that 26 re/insurers are supporting its seventh Credit Insurance Risk Transfer transaction of the year, CIRT 2024-L4, which effectively transferred $338.6 million in mortgage credit risk. This transaction allows for faster release of coverage under updated terms if the covered loan pool performs well. Additionally, the insurance […]

The reinsurance market is constructed to handle major events like hurricane’s Helene and Milton, according to Eric Andersen, President of global insurance and reinsurance brokerage, Aon. Hurricane Helene was the sixth named storm of the 2024 Atlantic hurricane season, and became the fourth of the season to make landfall in the US on September 27, […]

In a time characterised by hybrid work arrangements, evolving workplace cultures, and heightened attention to misconduct, a significant portion of global executives, approximately 23%, identify employer risk as the most prominent threat they face during the current year, a recent Beazley report has revealed. This represents an increase compared to 18% in 2022, indicating a […]

The Fortegra Group, a global specialty insurer and a subsidiary of Tiptree Inc., has announced the appointment of Richard Mangion as Chief Financial Officer for its UK and European business. In his new position, Mangion will report to Ed Peña, Fortegra’s Chief Financial Officer. He will lead finance operations and help shape the overall strategy […]

Canada’s economy continues to see notable growth supported by a still favorable labor market, rising asset prices and falling inflation, according to global credit ratings agency AM Best. However, the agency notes that population growth has started to outpace job creation, which has resulted in wage growth slowing and the unemployment rate increasing throughout the […]

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 […]