The reinsurance market witnessed a significant transformation in 2024, marked by the remarkable growth of alternative reinsurance capital. This surge, driven by the expansion of insurance-linked securities (ILS) and catastrophe bonds, has reshaped the landscape of the reinsurance industry.
At the start of 2025, the reinsurance market witnessed significant changes, particularly in the property catastrophe treaty business and the retrocession market. The broking group Howden provided an in-depth analysis of these trends, highlighting notable price reductions and the factors driving
Saudi Re's recent announcement of a reinsurance contract with Walaa Cooperative Insurance Company marks a significant milestone in the Saudi insurance industry. This deal, centered around the Surety Insurance Bonds Coinsurance Program, is poised to provide financial guarantees ensuring that
On January 1, 2025, Aon, a prominent global insurance and reinsurance broking group, successfully completed the acquisition of Griffiths & Armour, a distinguished UK insurance broker. This strategic move aims to broaden Aon's regional footprint in the UK and Ireland, allowing both entities to
On December 31, 2024, Taiping Reinsurance Co., Ltd. (Taiping Re) issued Asia's first dual-peril, dual-trigger catastrophe bond, worth $35 million, in Hong Kong. This was an important milestone in the financial world because it represents a new level of sophistication in catastrophe bonds. Delivered
The Trustees of the Airways Pension Scheme have successfully completed a £340 million longevity swap transaction with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife. This significant financial maneuver, facilitated by Zurich UK, aims to mitigate the financial risks associated
In a concerning development, DAP Health and its subsidiary Borrego Health have reported a potential data privacy breach. The breach was initially detected earlier this year, raising significant concerns about the security of sensitive patient information. Delving into the details of this breach, it
The journey of one Registered Investment Advisor (RIA) firm towards significant growth began with a pivotal decision to outsource its investment management responsibilities. The firm's founder, burdened by the anxiety of managing investments for over 600 households, sought a solution that would
The California Labor Commissioner’s Office (LCO) has recently issued a staggering $1.3 million in fines against 19 car washes in the South Bay area of Los Angeles County and Orange County for numerous labor violations that have affected 960 workers. The investigation into these car washes revealed
In October and November of 2024, Washington Insurance Commissioner Mike Kreidler imposed fines amounting to $576,500 on various insurance entities, including PacificSource Health Plans, Delta Dental, and Lemonade Insurance Co., for breaching state insurance laws and regulations. This analysis
