Month: June 2021

June 30, 2021

The Ardonagh Group is set to launch a new reinsurance broker with ambitions to become a top five global player, called Inver Reinsurance Brokers Limited. The new brokerage aims to leverage the scale, resources and reach of its parent, attract […]

June 30, 2021

The project to issue a first catastrophe bond to benefit Jamaica has made further progress this month, with an important grant approval now received and the World Bank facilitated cat bond deal launch now imminent. Of course, regular Artemis readers […]

June 29, 2021

China Export and Credit Insurance Corporation (Sinosure) has chosen the Dubai International Financial Centre (DIFC) as the location for its first office in the Middle East. Sinosure is a state-funded and policy-oriented insurance company established to promote China’s foreign economic, […]

June 29, 2021

Florida’s Office of Insurance Regulation (OIR) has placed Gulfstream Property and Casualty Insurance (Gulfstream) under its administrative supervision, after deeming the insurer unable to keep the minimum amount of funds to pay for policyholders’ claims. Under the regulator’s supervision, Sarasota, […]

June 28, 2021

Jérôme Itty knows all too well the challenges of onboarding new hires in a remote work environment. “I’ve experienced it myself,” said AXA XL’s chief operating officer in the Americas. “I joined this company a year ago, I was appointed […]

June 28, 2021

Mercury Insurance has announced that it is reducing its homeowners’ insurance rates for New Jersey residents by an average of 5.2%. When combined with a Mercury auto policy, the rate is reduced by an average of 8.2%. The reduction applies […]

June 25, 2021

Michigan Attorney General Dana Nessel and the state Department of Insurance and Financial Services (DIFS) have announced that a local insurance agent charged with fraud and stealing from his clients has pleaded guilty. Sixty-three-year-old Charles Booker, Jr. of Muskegon, MI […]

June 25, 2021

A new report shows that weather related disasters were the primary driver of displaced people in 2020, with almost three-quarters of people internally displaced affected by weather, with storms and flooding the primary peril drivers of this. In 2020 alone, […]

June 24, 2021

Essent Group subsidiary Essent Guaranty has obtained $557.9 million of fully collateralised excess of loss reinsurance coverage. The coverage is on mortgage insurance policies written in August 2020 through March 2021 from Radnor Re 2021-1 Ltd., a newly formed Bermuda […]

June 24, 2021

This week, the World Bank Group announced its new Climate Change Action Plan, featuring a range of commitments to ramp up and deliver record levels of climate finance, while catastrophe bonds, disaster risk financing and insurance against climate risk are […]

June 23, 2021

Michigan-based Universal Fire & Casualty Insurance Co. has started accepting cryptocurrency for premium payments. The company, which insures small businesses and offers surety bonds products, says the move is to increase its competitive market position as part of a broader […]

June 23, 2021

Hatcher Insurance – a full-service boutique insurance agency based in Orlando, FL – has announced that, since its acquisition in 2020, it has seen considerable growth in both agency size and revenue. Insurance veterans William “Bill” J. Palmer and Bryan […]

June 22, 2021

Recent attacks on the Colonial Pipeline and on the meat processor JCS have highlighted the ongoing threat of cyber attacks to national infrastructure and the global supply chain, and shown that there is an urgent need for the cyber market […]

June 22, 2021

Korea’s fire insurance industry could be left reeling from a $360 million dent in profitability after a logistics centre yesterday was engulfed in flames, according to reports from The Korea Times. Interestingly however, the same report describes how all four […]

June 21, 2021

The owner of an offshore oilfield boat that overturned off Louisiana plans to use $25 million in insurance on the vessel to pay down part of the Texas company’s debts. Attorneys for families of men killed when the Seacor Power […]

June 21, 2021

Swiss Re has warned that insurance and reinsurance firms will face increased indemnity costs after land-falling hurricanes in the United States this year, as inflationary factors are set to drive claims amounts higher. In summarising what to expect from the […]

June 18, 2021

Insured losses from the Magnitude 7.0 earthquake that struck off the coast of the Fukushima region of Japan on February 13th 2021 have continued to rise and at a faster pace, with the loss to the insurance and reinsurance industry […]

June 17, 2021

Two more defendants have pleaded guilty conspiring to stage automobile accidents in order to defraud insurance and trucking companies. The defendants from Orleans and Jefferson Parishes pleaded guilty before United States District Court Judge Sarah S. Vance to helping stage […]

June 17, 2021

After the US Department of Justice (DOJ) decided to sue in an attempt to block Aon’s acquisition of broking rival Willis Towers Watson (WTW), analysts at KBW said that rather than abandoning the merger, Aon is more likely to offer […]

June 16, 2021

The acceleration of activity in the global catastrophe bond market over the last few months could now drive an opportunity for a number of multi-strategy investment funds to expand, as the availability of paper has increased even causing some investment […]