Month: May 2022

May 16, 2022

New market research by FTI Consulting shows a slight slowdown in European insurance M&A deal volumes relative to Q1 2021, which it says were affected by macro trends such as the pandemic and the Russia-Ukraine conflict. In part, analysts noted […]

May 16, 2022

The decline in profits for four major European reinsurers is down to varying factors, says Fitch Ratings. The agency said that the Q! 2022 results for Munich re, Swiss Re, Hannover Re, and SCOR saw an average return on equity […]

May 13, 2022

Lloyd’s broker Superscript has launched a dedicated product for distributed ledger technology (DLT), digital asset, and blockchain businesses. The product, named Daylight, will help digital asset businesses secure insurance and manage risks more easily. Daylight uniquely combines cutting-edge machine-learning technology […]

May 13, 2022

International specialty insurance firm Ryan Specialty Group has posted revenue of $386.9 million for the first quarter of 2022, representing growth of 24.2% over last year, including 20.4% of organic revenue growth. Ryan Specialty explained that the high rate of […]

May 12, 2022

Ambac Financial Group, Inc. has posted net income of $2 million for the first quarter of 2022, and adjusted earnings of $14 million. This compares to net income of $17 million and adjusted earnings of $41 million for the same […]

May 12, 2022

Once again, the insurance-linked securities (ILS) market is demonstrating the value of making investments into relatively uncorrelated assets, as some catastrophe bond and ILS fund strategies have been delivering benchmark-beating returns for the first few months of 2022, against the […]

May 11, 2022

As the InsurTech industry approaches the next wave of innovation, experts say this could mean navigating rough waters. “I believe what you’re going to see is that you’re going to have Insurtechs, the cream of the crop, are going to […]

May 11, 2022

Metromile has entered into a new quota share reinsurance deal with Swiss Re and Mapfre Re, ceding 30% of gross written premium until the middle of the next year. The company also reported a 6% increase in policies in force […]

May 10, 2022

Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & Specialty (AGCS) said in a report on Tuesday. Two seafarers […]

May 10, 2022

Michael H. Braun, CEO of Florida based primary insurer FedNat, has revealed that the company is seeking to become “much smaller, with significantly fewer policies in force,” ahead of what it anticipates to be an extremely challenging mid-year renewal period. […]

May 9, 2022

The European Union is set to soften its sanctions package on Russian oil exports after a weekend of wrangling, though it aims to keep a key shipping provision that will hinder Moscow’s ability to export its crude. The bloc will […]

May 9, 2022

Majesco, a global provider of cloud insurance software solutions for insurance business transformation, has announced a partnership with CyberCube – a global provider of advanced solutions for cyber insurance risk modelling, rating and underwriting. The partnership between the two companies […]

May 6, 2022

The Middle East’s biggest plane-leasing firm wrote off half-a-billion dollars for aircraft stranded in Russia, after the Kremlin issued a law preventing foreign-owned jets from leaving the country without state permission. Dubai Aerospace Enterprise booked a $538 million write-off for […]

May 6, 2022

The storms and floods that hit South-East Queensland and coastal New South Wales in February and March are likely to be Australia’s costliest floods on record, according to the Insurance Council of Australia (ICA). Using updated data, the ICA said […]

May 5, 2022

Global specialty insurer and reinsurer SiriusPoint has reported a decline in results for the first quarter of 2022, mainly due to a large loss on investments, as well as an underwriting hit due to exposures to the war between Russia […]

May 5, 2022

The US Department of Justice (DOJ) has warned S&P Global Ratings that it should “carefully consider” how proposed changes to the way it assesses the creditworthiness of bonds owned by insurance companies could harm competition, according to reports from Bloomberg. […]

May 4, 2022

Global investment in insurtech breached $15.8bn in 2021, according to Gallagher Re’s Global Insurtech Report. The figure, said Gallagher Re, was the highest on record and more than 2019 and 2020 combined. The firm said that over the course of […]

May 4, 2022

Specialty insurance and reinsurance provider and part of Tokio Marine Group, Safety National Re, has added both Jacqueline Lazowski and John Fitzsimmons as Vice Presidents within its Treaty Reinsurance division. Lazowski, who will be based in Connecticut and brings over […]

May 3, 2022

The rise in demand for coal following Russia’s invasion of Ukraine is a setback to reaching a net-zero economy by 2050 but will also help bolster investment in renewable energy, a Bank of England (BoE) policymaker said on Tuesday. Elisabeth […]

May 3, 2022

Aspen Insurance Holdings Limited has reported a return to profit for 2021 with net income of $29.8 million compared with a loss of $56.4 million in 2020, driven by an improved underwriting performance. Across the group, adjusted underwriting income amounted […]