Carrier

Pan-European savings and retirement services group, Athora, has reached an agreement to acquire Pension Insurance Corporation Group Limited, the parent of Pension Insurance Corporation plc, a specialist insurer of UK defined benefit pension schemes, for approximately £5.7 billion. Athora has €76 billion of assets under management and administration, on behalf of 2.8 million policyholders, and […]

According to reinsurance broker Gallagher Re’s 1st View mid-year renewal report, recent legislative reforms in the State of Florida encouraged reinsurers to write across the board at the mid-year renewals, in hopes of maintaining their market share on programmes. The reforms, signed into law in late December 2022, have successfully reduced property litigated claims by […]

Specialty re/insurance rates remain adequate on average and are trending downward, though a soft market is likely still 2–3 years away, according to a recent report by Peel Hunt. Following their participation in the recent Lloyd’s Tour, Peel Hunt analysts met with management teams from Beazley, Conduit Re, Hiscox, and Lancashire. All teams agreed that […]

UNDP’s Sustainable Insurance Forum (SIF), the Taskforce on Nature-related Financial Disclosures (TNFD), and KPMG have partnered to launch a new global programme, ‘NATURE-INSURE’, to strengthen supervisory responses to biodiversity risk. Biodiversity loss and ecosystem degradation are quickly becoming significant issues for financial systems. NATURE-INSURE seeks to enhance supervisory abilities, encourage nature-aware oversight, and raise awareness […]

Mergers & Acquisitions (M&A) insurance claims payouts have surged in recent years, with 2024 marking the highest year on record for M&A insurance payouts, according to a recent Aon study. The research highlights a significant increase in claims activity related to Representations and Warranties (R&W) insurance, also known as Warranty and Indemnity (W&I) insurance. Aon’s […]

LexisNexis Risk Solutions, a provider of data and analytics for the insurance industry, has released LexisNexis Location Intelligence for Commercial, a tool aimed at improving the assessment of commercial property risks during underwriting and policy renewal. As severe weather events continue to cause over 65% of property losses in the US, commercial insurers face ongoing […]

Insured losses from Mexico’s Hurricane Erick, which made landfall last week, are expected to be contained, with parametric insurance contracts unlikely to be triggered, according to a recent report by AM Best. Hurricane Erick made landfall last Thursday morning as a dangerous Category 3 storm, striking Mexico’s southern Pacific coast. It had reached Category 4 […]

S&P Global Ratings has raised the financial strength ratings on re/insurer Convex group’s operating companies to ‘A’ from ‘A-‘, and assigned a stable outlook. The companies include: Convex Re Ltd., Convex Insurance UK Ltd., Convex Guernsey Ltd., and Convex Europe S.A. Convex has shown significant growth since launching in late 2019, achieving its underwriting profitability […]

Canada Life Reinsurance, part of financial services holding company Great-West Lifeco, has decided to stop new business for its US traditional life mortality risk reinsurance line, known as U.S. Trad Life, as the firm looks to focus on its core markets. The reinsurer explains that a key driver of its decision to cease new US […]

Insurance solutions provider Orion180 has completed its excess-of-loss (XOL) and net quota share reinsurance agreements for the 2025 hurricane season totalling $845 million, which represents a 31% increase from the 2024 programme. The renewed reinsurance programme is backed by a robust panel of 35 leading global reinsurers, and covers both Orion180 Insurance and Orion180 Select […]