Month: May 2021

May 28, 2021

More than half of US mortgage reinsurance is backed by the Bermuda reinsurance market, according to new analysis by the Association of Bermuda Insurers & Reinsurers (ABIR). mortgageReinsurance companies on the island provided increased capacity to US monoline private mortgage […]

May 27, 2021

The Ardonagh Group, a leading UK insurance broker, announced it has agreed to acquire the insurance operations of BGC Partners Inc. for $500 million in cash. The transaction is expected to close in the second half of 2021, subject to […]

May 27, 2021

Rating agency AM Best has chimed in on the issues facing the Florida property insurance market and chief among them is the fact many are going to struggle to maintain their surpluses, leading some to downsize, shed business and move […]

May 26, 2021

Primary insurers in Florida and elsewhere that are renewing their reinsurance programs for June 1st 2021 are set to come out of the renewal season largely unscathed, as reinsurance pricing faltered and came in below expectations, analysts at JMP Securities […]

May 26, 2021

Global reinsurance outsourcing and consulting specialist Pro Global Holdings Limited has announced the appointment of Lorraine Mojica as US head of audit. Mojica has more than 20 years of experience in the insurance industry, including extensive claims experience. She previously […]

May 25, 2021

A survey conducted by J.D. Power has shown that overall customer satisfaction with insurers’ digital offerings hasn’t improved this year, despite industry-wide improvements in best-practice competency. With an increasing amount of property and casualty (P&C) insurance customers, followed by the […]

May 25, 2021

According to a National Association of Insurance Commissioners (NAIC), the US insurance industry reported a total of $7.5 trillion in total cash and invested assets at the end of last year, showing an increase of 7.7% compared to 2019. The […]

May 24, 2021

A bill has been reintroduced to the United States Congress that again calls on lawmakers to codify that Federal Emergency Management Agency (FEMA), as the administrator of the U.S. National Flood Insurance Program (NFIP), sets a PML target each year […]

May 24, 2021

Analysts at Accenture have reported that rising demand for digital insurance premiums and their online distribution could displace $280 billion of current insurance revenues by 2025, challenging current customer retention levels. In a new report, Accenture analysed how the insurance […]

May 21, 2021

Issuance of new catastrophe bonds and other related insurance-linked securities (ILS) we track here at Artemis is now set to break new ground for the first-half of 2021, with more than $10 billion of issuance now anticipated, according to our […]

May 21, 2021

“Open Insurance should bring an increase in innovation,” according to Sanjiva Perera, Managing Principal at Capco, a management and technology consultancy focused on the financial services industry. He believes access to customer data will likely encourage new providers to enter […]

May 20, 2021

The Federal Reserve Bank of New York warned that credit scores — the all-powerful number that can determine if a consumer is able to qualify for a loan, rent a home or even buy car insurance — might have gotten […]

May 20, 2021

US primary insurance carrier Allstate has reported $544 million of net catastrophe losses, largely caused by April’s severe US convective weather and hail storms, as well as some loss creep on previous events. The insurer said that the $544 million […]

May 19, 2021

A number of insurance CEOs have made The Valuable 500 list – a list of chief executives from various industries around the globe that have committed to putting disability inclusion on their board agenda. First launched at the World Economic […]

May 19, 2021

Global re/insurance broker Lockton has announced key hires across its three transaction liability insurance product lines. Eddie Kim, Paul Ahn, Emily Rosen and Nicole McCarthy all join Lockton’s Representations and Warranties (R&W) insurance practice. Dan Berger joins Lockton from AIG, […]

May 18, 2021

People affected by crashes causing bodily injury or death involving commercial motor vehicles would find it harder to win damages from companies under a bill that was approved by the Texas House and is making its way through the Senate. […]

May 18, 2021

The Chilean arm of independent insurance broker Price Forbes has appointed Martin Soto Quintus to the role of Chief Executive Officer, while Miguel Pizarro has been added as Chief Broking Officer. Soto Quintus joins from Aon Reinsurance Solutions where he […]

May 17, 2021

With pandemic lockdown restrictions slowly easing, demand for active shooter insurance policies has surged – and for tragic reasons, experts suggest. According to Tarique Nageer, terrorism placement advisory leader at Marsh, client inquiries for mass shooting insurance have risen 50% […]

May 17, 2021

Despite April being a quieter month globally for insurance and reinsurance market losses caused by natural catastrophes and severe weather, analysts at investment bank Jefferies still estimate that claims year-to-date are running approximately 30% above average. After the first-quarter of […]

May 14, 2021

Analysts at Fitch Ratings are forecast further improvements in underlying technical margins and pricing in non-life reinsurance for the largest European companies, following favourable trends in Q1. All four major European reinsurers reported improved margins in non-life during Q1, Fitch […]